R Costings Limited - Period Ending 2016-03-31

Registration number: 04804492

R Costings Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

ProEdge Associates Limited
  Long Meadow
  New Road
  Mepal
  Ely
  Cambridgeshire
  CB6 2AP

R Costings Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

R Costings Limited
(Registration number: 04804492)
Abbreviated Balance Sheet at 31 March 2016

		Note			31 March 2016 £			31 March 2015 £
Fixed assets
Tangible fixed assets					65,132			81,753
Current assets
Stocks					73,750			105,175
Debtors					874,630			1,130,113
Cash at bank and in hand					475,538			256,385
					1,423,918			1,491,673
Creditors: Amounts falling due within one year					(682,531)			(815,090)
Net current assets					741,387			676,583
Total assets less current liabilities					806,519			758,336
Provisions for liabilities					(6,828)			(9,641)
Net assets					799,691			748,695
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					799,591			748,595
Shareholders' funds					799,691			748,695

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 22 November 2016 and signed on its behalf by:

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

R Costings Limited
(Registration number: 04804492)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
  Mr Paul Reason
  Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

R Costings Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Short leasehold	over the period of the lease
Fixtures and fittings	20% reducing balance
Motor vehicles	25% reducing balance

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

R Costings Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		251,588			251,588
Additions		1,996			1,996
At 31 March 2016		253,584			253,584
Depreciation
At 1 April 2015		169,835			169,835
Charge for the year		18,617			18,617
At 31 March 2016		188,452			188,452
Net book value
At 31 March 2016		65,132			65,132
At 31 March 2015		81,753			81,753

3	Share capital

Allotted, called up and fully paid shares

	31 March 2016						31 March 2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

4

Control

The company is controlled by Mr Paul Reason who owns 100% of the called up share capital.

Page 4