Reburn Services Limited - Period Ending 2014-05-31

Registration number: 06234309

Reburn Services Limited
 
  Directors' Report and Unaudited Financial Statements
 
  for the Year Ended 31 May 2014
 

Longley Consulting Limited
16 Highfield Drive
Kingsbridge
Devon
TQ7 1JR

Reburn Services Limited
Contents

Company Information 1

Directors' Report 2

Accountants' Report 3

Profit and Loss Account 4

Balance Sheet 5 to 6

Notes to the Financial Statements 7 to 10

The following pages do not form part of the statutory financial statements:

Detailed Profit and Loss Account 11 to 13

Reburn Services Limited
Company Information

Directors

Mr Mark Reburn Mrs Michelle Reburn

Company secretary

Mrs Michelle Reburn

Registered office

31 Rockingham Road Mannamead Plymouth Devon PL3 5BW

Accountants

Longley Consulting Limited 16 Highfield Drive Kingsbridge Devon TQ7 1JR

Page 1

Reburn Services Limited
Directors' Report for the Year Ended 31 May 2014

The directors present their report and the unaudited financial statements for the year ended 31 May 2014.

Directors of the company

The directors who held office during the year were as follows:

Mr Mark Reburn

Mrs Michelle Reburn

Principal activity

The principal activity of the company is of project management and consultancy.

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 5 August 2014 and signed on its behalf by:

.........................................
Mr Mark Reburn
Director

Page 2

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Reburn Services Limited
for the Year Ended 31 May 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Reburn Services Limited for the year ended 31 May 2014 set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Reburn Services Limited, 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 Reburn Services Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reburn Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Reburn Services Limited 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 Reburn Services Limited. You consider that Reburn Services Limited 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 Reburn Services Limited. 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.

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

Longley Consulting Limited
16 Highfield Drive
Kingsbridge
Devon
TQ7 1JR

5 August 2014

Page 3

Reburn Services Limited
Profit and Loss Account for the Year Ended 31 May 2014

		Note			2014 £			2013 £
Turnover					54,487			57,727
Cost of sales					(100)			(1,657)
Gross profit					54,387			56,070
Administrative expenses					(27,402)			(32,273)
Operating profit		2			26,985			23,797
Profit on ordinary activities before taxation					26,985			23,797
Tax on profit on ordinary activities		4			(5,515)			(4,857)
Profit for the financial year		10			21,470			18,940

The notes on pages 7 to 10 form an integral part of these financial statements.
Page 4

Reburn Services Limited
(Registration number: 06234309)
Balance Sheet at 31 May 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		5			1,785			2,071
Current assets
Debtors		6			3,594			2,545
Cash at bank and in hand					3,057			2,917
					6,651			5,462
Creditors: Amounts falling due within one year		7			(8,337)			(7,404)
Net current liabilities					(1,686)			(1,942)
Net assets					99			129
Capital and reserves
Called up share capital		8			10			10
Profit and loss account		10			89			119
Shareholders' funds					99			129

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 31 May 2014 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.

Approved by the Board on 5 August 2014 and signed on its behalf by:

The notes on pages 7 to 10 form an integral part of these financial statements.
Page 5

Reburn Services Limited
(Registration number: 06234309)
Balance Sheet at 31 May 2014
......... continued

.........................................
Mr Mark Reburn
Director

The notes on pages 7 to 10 form an integral part of these financial statements.
Page 6

Reburn Services Limited
Notes to the Financial Statements for the Year Ended 31 May 2014
......... continued

1	Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

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
Fixtures, fittings and equipment	25% reducing balance

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.

2	Operating profit

Operating profit is stated after charging:

		2014 £			2013 £
Loss on sale of tangible fixed assets		123			324
Depreciation of tangible fixed assets		494			511

3	Directors' remuneration

The directors' remuneration for the year was as follows:

Page 7

Reburn Services Limited
Notes to the Financial Statements for the Year Ended 31 May 2014
......... continued

		2014 £			2013 £
Remuneration		15,161			17,360

4

Taxation

Tax on profit on ordinary activities

		2014 £			2013 £
Current tax
Corporation tax charge		5,515			4,857

5	Tangible fixed assets

		Fixtures and fittings £			Total £
Cost or valuation
At 1 June 2013		3,733			3,733
Additions		331			331
Disposals		(407)			(407)
At 31 May 2014		3,657			3,657
Depreciation
At 1 June 2013		1,662			1,662
Charge for the year		494			494
Eliminated on disposals		(284)			(284)
At 31 May 2014		1,872			1,872
Net book value
At 31 May 2014		1,785			1,785
At 31 May 2013		2,071			2,071

Page 8

Reburn Services Limited
Notes to the Financial Statements for the Year Ended 31 May 2014
......... continued

6

Debtors

		2014 £			2013 £
Trade debtors		-			1,269
Other debtors		3,594			1,276
		3,594			2,545

7	Creditors: Amounts falling due within one year

		2014 £			2013 £
Corporation tax		5,515			4,857
Other taxes and social security		2,378			2,103
Other creditors		444			444
		8,337			7,404

8	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		10			10			10			10

9

Dividends

		2014 £			2013 £
Dividends paid
Prior year final dividend paid		21,500			19,000

Page 9

Reburn Services Limited
Notes to the Financial Statements for the Year Ended 31 May 2014
......... continued

10

Reserves

		Profit and loss account £			Total £
At 1 June 2013		119			119
Profit for the year		21,470			21,470
Dividends		(21,500)			(21,500)
At 31 May 2014		89			89

11	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr Mark Reburn
Interest free loan	3,594	3,594	1,276	1,276

12

Control

The company is controlled by the directors who own 100% of the called up share capital.

Page 10

Reburn Services Limited
Detailed Profit and Loss Account for the Year Ended 31 May 2014

		2014						2013
	£			£			£			£
Turnover (analysed below)					54,487						57,727
Cost of sales (analysed below)					(100)						(1,657)
Gross profit					54,387						56,070
Gross profit (%)					99.82%						97.13%
Administrative expenses
Employment costs (analysed below)		(15,161)						(17,360)
Establishment costs (analysed below)		(971)						(952)
General administrative expenses (analysed below)		(10,526)						(13,043)
Finance charges (analysed below)		(127)						(83)
Depreciation costs (analysed below)		(617)						(835)
					(27,402)						(32,273)
Profit on ordinary activities before taxation					26,985						23,797

This page does not form part of the statutory financial statements
Page 11

Reburn Services Limited
Detailed Profit and Loss Account for the Year Ended 31 May 2014

2014 £

2013 £

Turnover
Sales, UK		54,320			57,727
Other income		167			-
		54,487			57,727

Cost of sales
Direct costs		100			1,657
		100			1,657

Employment costs
Directors remuneration		15,161			17,360

Establishment costs
Rent and rates		971			861
Repairs and maintenance		-			91
		971			952

General administrative expenses
Telephone and fax		641			1,181
Computer software and maintenance costs		108			108
Printing, postage and stationery		-			29
Sundry expenses		114			256
Professional indemnity insurance		563			820
Legal and professional fees		1,520			1,450
Travel and subsistence		7,276			8,176
Customer entertaining (disallowable for tax)		304			1,023
		10,526			13,043

This page does not form part of the statutory financial statements
Page 12

Reburn Services Limited
Detailed Profit and Loss Account for the Year Ended 31 May 2014......... continued

2014 £

2013 £

Finance charges
Bank charges		127			83

Depreciation costs
Depreciation of plant and machinery		494			511
(Profit)/loss on disposal of tangible fixed assets		123			324
		617			835

This page does not form part of the statutory financial statements
Page 13