Real Flooring Solutions Ltd - Period Ending 2016-03-31

Registration number: 07143106

Real Flooring Solutions Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Concorde Company Solutions Limited
Accountants
20A Main Street
Garforth
Leeds
West Yorkshire
LS25 1AA

Real Flooring Solutions Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Real Flooring Solutions Ltd
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Real Flooring Solutions Ltd for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Real Flooring Solutions Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Real Flooring Solutions Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Real Flooring Solutions Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Real Flooring Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Real Flooring Solutions Ltd. You consider that Real Flooring Solutions 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 accounts of Real Flooring Solutions 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 accounts.

......................................

Concorde Company Solutions Limited
Accountants
20A Main Street
Garforth
Leeds
West Yorkshire
LS25 1AA

10 December 2016

Page 1

Real Flooring Solutions Ltd
(Registration number: 07143106)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					2,688			3,360
Current assets
Stocks					42,529			20,022
Debtors					17,908			23,654
Cash at bank and in hand					676			-
					61,113			43,676
Creditors: Amounts falling due within one year					(63,261)			(46,867)
Net current liabilities					(2,148)			(3,191)
Net assets					540			169
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					440			69
Shareholders' funds					540			169

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 10 December 2016 and signed on its behalf by:

.........................................
Mr Mark Richard THOMPSON
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Real Flooring Solutions Ltd
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
Plant and machinery	20% 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.

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Real Flooring Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		9,829			9,829
At 31 March 2016		9,829			9,829
Depreciation
At 1 April 2015		6,469			6,469
Charge for the year		672			672
At 31 March 2016		7,141			7,141
Net book value
At 31 March 2016		2,688			2,688
At 31 March 2015		3,360			3,360

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000

New shares allotted

During the year - having an aggregate nominal value of £nil were allotted for an aggregate consideration of £nil.

4	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr Mark Richard THOMPSON
Directors Loan Account	-	-	-	-
Mrs Angela Claire THOMPSON

Page 4

Real Flooring Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Directors Loan Account	-	-	-	-

Page 5