R M Electrical (Yorkshire) Limited Company Accounts

R M ELECTRICAL (YORKSHIRE) LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2016-04-01 Sage Accounts Production Advanced 2017 - FRS xbrli:pure xbrli:shares iso4217:GBP 05606086 2016-04-01 2017-03-31 05606086 2017-03-31 05606086 2016-03-31 05606086 2015-04-01 2016-03-31 05606086 2016-03-31 05606086 core:PlantMachinery 2016-04-01 2017-03-31 05606086 core:FurnitureFittings 2016-04-01 2017-03-31 05606086 core:MotorVehicles 2016-04-01 2017-03-31 05606086 bus:LeadAgentIfApplicable 2016-04-01 2017-03-31 05606086 bus:Director1 2016-04-01 2017-03-31 05606086 core:PlantMachinery 2016-03-31 05606086 core:FurnitureFittings 2016-03-31 05606086 core:MotorVehicles 2016-03-31 05606086 core:PlantMachinery 2017-03-31 05606086 core:FurnitureFittings 2017-03-31 05606086 core:MotorVehicles 2017-03-31 05606086 core:WithinOneYear 2017-03-31 05606086 core:WithinOneYear 2016-03-31 05606086 core:AfterOneYear 2017-03-31 05606086 core:AfterOneYear 2016-03-31 05606086 core:ShareCapital 2017-03-31 05606086 core:ShareCapital 2016-03-31 05606086 core:RetainedEarningsAccumulatedLosses 2017-03-31 05606086 core:RetainedEarningsAccumulatedLosses 2016-03-31 05606086 core:PlantMachinery 2016-03-31 05606086 core:FurnitureFittings 2016-03-31 05606086 core:MotorVehicles 2016-03-31 05606086 bus:Director1 2016-03-31 05606086 bus:FRS102 2016-04-01 2017-03-31 05606086 bus:AuditExemptWithAccountantsReport 2016-04-01 2017-03-31 05606086 bus:FullAccounts 2016-04-01 2017-03-31 05606086 bus:SmallCompaniesRegimeForAccounts 2016-04-01 2017-03-31 05606086 bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 05606086 core:OfficeEquipment 2016-04-01 2017-03-31 05606086 core:OfficeEquipment 2016-03-31 05606086 core:OfficeEquipment 2017-03-31

COMPANY REGISTRATION NUMBER: 05606086

R M Electrical (Yorkshire) Limited

Unaudited Financial Statements

31 March 2017

SMITH BUTLER

Chartered Certified Accountants

10 Mercury Quays

Ashley Lane

Shipley

West Yorkshire

BD17 7DB

R M Electrical (Yorkshire) Limited

Financial Statements

Year ended 31 March 2017

Contents	Page

Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

R M Electrical (Yorkshire) Limited

Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of R M Electrical (Yorkshire) Limited

Year ended 31 March 2017

As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 March 2017, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

SMITH BUTLER Chartered Certified Accountants

10 Mercury Quays Ashley Lane Shipley West Yorkshire BD17 7DB

22 May 2017

R M Electrical (Yorkshire) Limited

Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	6		14,740	18,362

Current assets

Debtors	7	420	202
Cash at bank and in hand		8,148	5,104
		-------	-------
		8,568	5,306

Creditors: amounts falling due within one year	8	11,873		18,695
		--------		--------
Net current liabilities			3,305	13,389
			--------	--------
Total assets less current liabilities			11,435	4,973

Creditors: amounts falling due after more than one year	9	1,662	3,473
		--------	-------
Net assets		9,773	1,500
		--------	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	9,673	1,400
	-------	-------
Members funds	9,773	1,500
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

R M Electrical (Yorkshire) Limited

Statement of Financial Position (continued)

31 March 2017

These financial statements were approved by the board of directors and authorised for issue on 22 May 2017 , and are signed on behalf of the board by:

Mr M Jones
Director

Company registration number: 05606086

R M Electrical (Yorkshire) Limited

Notes to the Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Mercury Quays, Ashley Lane, Shipley, Bradford, BD17 7DB.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	20% reducing balance
Fixtures & Fittings	-	15% reducing balance
Motor Vehicles	-	25% reducing balance
Equipment	-	33% reducing balance

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

4. Staff costs

The average number of persons employed by the company during the year, including the director, amounted to 1 (2016: 1).

5. Profit before taxation

Profit before taxation is stated after charging:

	2017	2016
	£	£
Depreciation of tangible assets	4,562	1,373
	-------	-------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2016	1,144	783	18,637	815	21,379
Additions	940	–	–	–	940
	-------	----	--------	----	--------
At 31 March 2017	2,084	783	18,637	815	22,319
	-------	----	--------	----	--------
Depreciation
At 1 April 2016	1,020	321	1,165	511	3,017
Charge for the year	25	69	4,368	100	4,562
	-------	----	--------	----	--------
At 31 March 2017	1,045	390	5,533	611	7,579
	-------	----	--------	----	--------
Carrying amount
At 31 March 2017	1,039	393	13,104	204	14,740
	-------	----	--------	----	--------
At 31 March 2016	124	462	17,472	304	18,362
	-------	----	--------	----	--------

7. Debtors

	2017	2016
	£	£
Other debtors	420	202
	----	----

8. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	1,636	3,222
Corporation tax	4,752	1,039
Other creditors	5,485	14,434
	--------	--------
	11,873	18,695
	--------	--------

9. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Other creditors	1,662	3,473
	-------	-------

10. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2017	2016
	£	£
Mr M Jones	11,744	–
	--------	----

11. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.