Regional Improvements Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06927646 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017

FOR

REGIONAL IMPROVEMENTS LTD

TRADING AS

SOUTHERN GLASS

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

D M Coomber

SECRETARY:

P Shillinglaw

REGISTERED OFFICE:

31 - 33 Albion Place

Maidstone

Kent

ME14 5DZ

REGISTERED NUMBER:

06927646 (England and Wales)

ACCOUNTANTS:

Stephen Hill Mid Kent Limited

31-33 Albion Place

Sittingbourne Road

Maidstone

Kent

ME14 5DZ

FIXED ASSETS

Intangible assets

4

9,300

13,950

Tangible assets

5

43,111

54,210

52,411

68,160

CURRENT ASSETS

Stocks

160,851

113,122

Debtors

6

36,938

75,849

Cash at bank and in hand

78,745

29,847

276,534

218,818

CREDITORS

Amounts falling due within one year

7

150,092

136,669

NET CURRENT ASSETS

126,442

82,149

TOTAL ASSETS LESS CURRENT LIABILITIES

178,853

150,309

CREDITORS

Amounts falling due after more than one year

8

-

(3,657

)

PROVISIONS FOR LIABILITIES

(5,210

)

(7,033

)

NET ASSETS

173,643

139,619

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

173,642

139,618

SHAREHOLDERS' FUNDS

173,643

139,619

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 5 October 2017 and were signed by:

D M Coomber - Director

1.	STATUTORY INFORMATION

Regional Improvements Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2016

and 30 June 2017

46,500

AMORTISATION

At 1 July 2016

32,550

Charge for year

4,650

At 30 June 2017

37,200

NET BOOK VALUE

At 30 June 2017

9,300

At 30 June 2016

13,950

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2016

and 30 June 2017

23,156

4,394

63,317

11,300

102,167

DEPRECIATION

At 1 July 2016

4,112

3,531

31,865

8,449

47,957

Charge for year

2,315

214

7,861

709

11,099

At 30 June 2017

6,427

3,745

39,726

9,158

59,056

NET BOOK VALUE

At 30 June 2017

16,729

649

23,591

2,142

43,111

At 30 June 2016

19,044

863

31,452

2,851

54,210

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 July 2016

and 30 June 2017

17,003

DEPRECIATION

At 1 July 2016

9,830

Charge for year

1,793

At 30 June 2017

11,623

NET BOOK VALUE

At 30 June 2017

5,380

At 30 June 2016

7,173

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade debtors

33,874

72,789

Other debtors

3,064

3,060

36,938

75,849

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Hire purchase contracts

3,657

4,577

Trade creditors

99,885

79,130

Taxation and social security

31,123

42,627

Other creditors

15,427

10,335

150,092

136,669

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.17

30.6.16

£

£

Hire purchase contracts

-

3,657

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.17

30.6.16

£

£

Hire purchase contracts

3,657

8,234

The bank overdraft is secured by the way of a debenture dated 14 July 2009 creating a fixed and floating charge

over all the property and assets of the company.

10.	RELATED PARTY DISCLOSURES

During the year the company rented the property 1a Brunswick Street from the director D M Coomber for an

annual rental of £19,200 (2016 £19,200).

11.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Regional Improvements Ltd for the year ended 30 June 2017 which comprise the Income

Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Regional Improvements Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Regional Improvements Ltd and state those matters that we have agreed to state to the director of Regional Improvements Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Regional Improvements Ltd director for our work or for this report.

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

Stephen Hill Mid Kent Limited

31-33 Albion Place

Sittingbourne Road

Maidstone

Kent

ME14 5DZ

5 October 2017