Ribchesters Group Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08668887 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

RIBCHESTERS GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D M Armstrong FCA CTA

J D Holloway FCA DChA

R W Ribchester ACA MA(Dunelm)

REGISTERED OFFICE:

Finchale House

Belmont Business Park

Durham

DH1 1TW

REGISTERED NUMBER:

08668887 (England and Wales)

FIXED ASSETS

Intangible assets

4

644,445

697,778

Tangible assets

5

66,676

75,206

Investments

6

21

21

711,142

773,005

CURRENT ASSETS

Stocks

1,000

1,000

Debtors

7

298,136

275,443

Cash at bank and in hand

457,041

236,577

756,177

513,020

CREDITORS

Amounts falling due within one year

8

292,563

232,930

NET CURRENT ASSETS

463,614

280,090

TOTAL ASSETS LESS CURRENT LIABILITIES

1,174,756

1,053,095

CREDITORS

Amounts falling due after more than one year

9

(544,000

)

(642,000

)

PROVISIONS FOR LIABILITIES

(8,165

)

(10,158

)

NET ASSETS

622,591

400,937

CAPITAL AND RESERVES

Called up share capital

10

10,000

10,000

Retained earnings

612,591

390,937

SHAREHOLDERS' FUNDS

622,591

400,937

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 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 Board of Directors on 4 December 2017 and were signed on its behalf by:

D M Armstrong FCA CTA - Director

J D Holloway FCA DChA - Director

R W Ribchester ACA MA(Dunelm) - Director

1.	STATUTORY INFORMATION

Ribchesters Group Limited 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 derives from the principal activity of the company, and represents revenue earned, net of value added

tax, on client contracts performed during the accounting period. Revenue is recognised at the fair value of work

performed up to the balance sheet date, once the right to revenue exists, the amounts receivable can be measured

reliably and it is probable that the revenue will be received.

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.

Short leasehold

-

10% on cost

Fixtures and fittings

-

10% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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

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.

Goodwill

Goodwill is being amortised on a straight-line basis over a period of 15 years. It relates to the acquisition of a

long-established business in 2014. That period was adopted after assessing the average length of client retention

and the average annual recurring fees that such clients generate, to determine the period over which economic

benefits can be expected to flow from the acquisition. The directors consider that amortisation period to remain

appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

800,000

AMORTISATION

At 1 April 2016

102,222

Amortisation for year

53,333

At 31 March 2017

155,555

NET BOOK VALUE

At 31 March 2017

644,445

At 31 March 2016

697,778

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2016

27,513

43,628

15,444

86,585

Additions

-

-

4,322

4,322

At 31 March 2017

27,513

43,628

19,766

90,907

DEPRECIATION

At 1 April 2016

2,293

3,989

5,097

11,379

Charge for year

2,751

4,363

5,738

12,852

At 31 March 2017

5,044

8,352

10,835

24,231

NET BOOK VALUE

At 31 March 2017

22,469

35,276

8,931

66,676

At 31 March 2016

25,220

39,639

10,347

75,206

6.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST

At 1 April 2016

and 31 March 2017

1

20

21

NET BOOK VALUE

At 31 March 2017

1

20

21

At 31 March 2016

1

20

21

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

102,086

86,482

Amounts recoverable on

contracts

130,330

123,824

Other debtors

65,720

65,137

298,136

275,443

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

34,506

24,737

Taxation and social security

151,064

123,437

Other creditors

106,993

84,756

292,563

232,930

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

544,000

642,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

4,000

Ordinary A

£1.00

4,000

4,000

4,000

Ordinary B

£1.00

4,000

4,000

2,000

Ordinary C

£1.00

2,000

2,000

10,000

10,000

11.	CONTINGENT LIABILITIES

The company has a contingent liability in respect of a cross guarantee over the bank borrowings of Finchale

Estates Limited.

12.	RELATED PARTY DISCLOSURES

The directors have provided interest free loans to the company.The total amount outstanding at the year end was

£524,615. Of this £444,000 falls due for repayment after more than one year.

The directors have taken advantage of FRS102 S1.15A and have not discounted these loans to present value.

13.	ULTIMATE CONTROLLING PARTY

No individual controls the company.

14.	FIRST YEAR ADOPTION

These financial statements are the first financial statements that comply with Financial Reporting Standard 102

("FRS102"). The date of transition to FRS102 is 1 April 2015.

The transition to FRS102 has resulted in no changes in accounting policies to those previously used. However

the new standards now require all short term employee benefits to be recognised as an expense in the period in

which the employees render their service. This has resulted in additional assets and liabilities being recognised at

each year end. The adjustment required at the date of transition is detailed on page 11, and the adjustment to the

31 March 2016 financial statements is detailed on pages 12 and 13.