Regional Improvements Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06927646 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2016

FOR

REGIONAL IMPROVEMENTS LTD

TRADING AS

SOUTHERN GLASS

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTOR:

D M Coomber

SECRETARY:

P Shillinglaw

REGISTERED OFFICE:

31 - 33 Albion Place

Maidstone

Kent

ME14 5DZ

REGISTERED NUMBER:

06927646 (England and Wales)

ACCOUNTANTS:

Stephen Hill Mid Kent Limited

31-33 Albion Place

Sittingbourne Road

Maidstone

Kent

ME14 5DZ

FIXED ASSETS

Intangible assets

2

13,950

18,600

Tangible assets

3

54,210

49,448

68,160

68,048

CURRENT ASSETS

Stocks

113,122

102,476

Debtors

75,849

21,624

Cash at bank and in hand

29,847

89,196

218,818

213,296

CREDITORS

Amounts falling due within one year

4

136,669

167,789

NET CURRENT ASSETS

82,149

45,507

TOTAL ASSETS LESS CURRENT LIABILITIES

150,309

113,555

CREDITORS

Amounts falling due after more than one year

4

(3,657

)

(8,244

)

PROVISIONS FOR LIABILITIES

(7,033

)

(6,658

)

NET ASSETS

139,619

98,653

CAPITAL AND RESERVES

Called up share capital

5

1

1

Profit and loss account

139,618

98,652

SHAREHOLDERS' FUNDS

139,619

98,653

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 31 October 2016 and were signed by:

D M Coomber - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

46,500

AMORTISATION

At 1 July 2015

27,900

Amortisation for year

4,650

At 30 June 2016

32,550

NET BOOK VALUE

At 30 June 2016

13,950

At 30 June 2015

18,600

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

88,172

Additions

20,290

Disposals

(6,295

)

At 30 June 2016

102,167

DEPRECIATION

At 1 July 2015

38,724

Charge for year

14,034

Eliminated on disposal

(4,801

)

At 30 June 2016

47,957

NET BOOK VALUE

At 30 June 2016

54,210

At 30 June 2015

49,448

4.

CREDITORS

Creditors include an amount of £ 8,234 (30.6.15 - £ 12,478 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

£

1

Ordinary

£1

1

1

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Regional Improvements Ltd for the year ended 30 June 2016 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Regional Improvements Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Regional Improvements Ltd and state those matters that we have agreed to state to the director of Regional Improvements Ltd in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Regional Improvements Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Regional Improvements Ltd. You consider that Regional Improvements Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Regional Improvements Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Stephen Hill Mid Kent Limited

31-33 Albion Place

Sittingbourne Road

Maidstone

Kent

ME14 5DZ

31 October 2016