R.J. Blundy Limited - Period Ending 2017-04-30

Registration number: 04992442

R.J. Blundy Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2017

R.J. Blundy Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 8

R.J. Blundy Limited

(Registration number: 04992442)
Balance Sheet as at 30 April 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	5	101,019	100,401
Current assets
Debtors	6	89,793	116,120
Cash at bank and in hand		80,139	93,049
		169,932	209,169
Creditors: Amounts falling due within one year	7	(123,588)	(154,839)
Net current assets		46,344	54,330
Total assets less current liabilities		147,363	154,731
Creditors: Amounts falling due after more than one year	7	-	(21,359)
Provisions for liabilities		(20,119)	(20,080)
Net assets		127,244	113,292
Capital and reserves
Called up share capital		2	2
Profit and loss account		127,242	113,290
Total equity		127,244	113,292

For the financial year ending 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 3 to 8 form an integral part of these financial statements.

Page 1

R.J. Blundy Limited

(Registration number: 04992442)
Balance Sheet as at 30 April 2017

Approved and authorised by the Board on 22 September 2017 and signed on its behalf by:
 

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

R J Blundy

Director

The notes on pages 3 to 8 form an integral part of these financial statements.

Page 2

R.J. Blundy Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

The principal place of business is:
57 Henwick Lane
Thatcham
Berkshire
RG18 3BX
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance basis
Office Equipment	25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Page 3

R.J. Blundy Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Page 4

R.J. Blundy Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

3

Taxation

	2017		2016
	£		£
Corporation tax	5,813		16,149
Deferred tax	39		(6,694)
	5,852		9,455

4	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2016 - 4).

5	Tangible assets

	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 May 2016	2,256	200,609	202,865
Additions	-	31,747	31,747
At 30 April 2017	2,256	232,356	234,612
Depreciation
At 1 May 2016	1,875	100,589	102,464
Charge for the year	95	31,034	31,129
At 30 April 2017	1,970	131,623	133,593
Carrying amount
At 30 April 2017	286	100,733	101,019
At 30 April 2016	381	100,020	100,401

Included within the net book value of tangible fixed assets is £60,164 (2016 - £80,219) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the year on these assets was £20,055 (2016 - £26,740).

Page 5

R.J. Blundy Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

6

Debtors

	Note	2017 £	2016 £
Trade debtors		44,992	45,600
Amounts owed by related undertakings	9	33,365	56,364
Other debtors		11,436	14,156
Total current trade and other debtors		89,793	116,120

Page 6

R.J. Blundy Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

7

Creditors

	Note	2017 £	2016 £
Due within one year
Loans and borrowings	8	21,359	23,203
Trade creditors		8,327	5,188
Taxation and social security		15,273	25,861
Other creditors		78,629	100,587
		123,588	154,839
Due after one year
Loans and borrowings	8	-	21,359

8	Loans and borrowings

	2017 £	2016 £
Non-current loans and borrowings
Finance lease liabilities	-	21,359

	2017 £	2016 £
Current loans and borrowings
Finance lease liabilities	21,359	23,203

Hire purchase liabilities are secured on the assets to which they relate.

Page 7

R.J. Blundy Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

9	Related party transactions

Transactions with directors

R J Blundy (Director) Director's loan account. No interest is charged in respect of this balance. At the balance sheet date the amount due to R J Blundy was £66,038 (2016 - £97,402).

R.J. Blundy & Son Limited (R J Blundy is a director of both companies) During the year, R.J. Blundy Limited made sales totalling £Nil (2016: £Nil) to R.J. Blundy & Son Limited. At the balance sheet date the amount due from R.J. Blundy & Son Limited was £33,587 (2016 - £58,588).

Blundy Brothers Limited (R J Blundy is a director of both companies) During the year, R.J. Blundy Limited made sales to Blundy Brothers Limited totalling £2,742 (2016: £1,363). At the balance sheet date the amount due to Blundy Brothers Limited was £223 (2016 - £2,223).

10	Transition to FRS 102

There were no changes required as a result of transition to FRS 102.

Page 8