RICHARDS RESIDENTIAL SUPPLIES LIMITED - Abbreviated accounts 16.3

REGISTERED NUMBER: 02583102 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2016

for

RICHARDS RESIDENTIAL SUPPLIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Richard McGregor Benson

Valerie Benson

SECRETARY:

Valerie Benson

REGISTERED OFFICE:

Vivary Buildings

11 Spring Lane

COLNE

Lancashire

BB8 9BD

REGISTERED NUMBER:

02583102 (England and Wales)

ACCOUNTANTS:

G & C Professionals Limited

trading as Graham & Company

Chartered Certified Accountants

& Business Advisers

Cleveland House

1-10 Sitwell Street

KINGSTON UPON HULL

East Yorkshire

HU8 7BE

FIXED ASSETS

Tangible assets

2

27,710

27,532

CURRENT ASSETS

Stocks

75,937

51,431

Debtors

85,025

64,828

Cash in hand

153

842

161,115

117,101

CREDITORS

Amounts falling due within one year

3

114,358

97,120

NET CURRENT ASSETS

46,757

19,981

TOTAL ASSETS LESS CURRENT
LIABILITIES

74,467

47,513

CREDITORS

Amounts falling due after more than one
year

57,045

41,266

NET ASSETS

17,422

6,247

CAPITAL AND RESERVES

Called up share capital

4

1,000

Share premium

14,788

Profit and loss account

1,634

(9,541

)

SHAREHOLDERS' FUNDS

17,422

6,247

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

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

The directors acknowledge their 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 Board of Directors on 30 June 2017 and were signed on its
behalf by:

Richard McGregor Benson - 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 and services, excluding value added tax.

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

-

in accordance with lease term

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on cost

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.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

89,804

Additions

3,977

At 30 September 2016

93,781

DEPRECIATION

At 1 October 2015

62,272

Charge for year

3,799

At 30 September 2016

66,071

NET BOOK VALUE

At 30 September 2016

27,710

At 30 September 2015

27,532

3.

CREDITORS

Creditors include an amount of £ 29,861 (2015 - £ 24,573 ) for which security has been given.

The bank overdraft is secured by a joint and several guarantee by the directors limited to £30,000 and

a mortgage debenture dated 1 April 1993.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£1

1,000