Abbreviated Company Accounts - RES (DEVON) LIMITED

Abbreviated Company Accounts - RES (DEVON) LIMITED


Registered Number 06008460

RES (DEVON) LIMITED

Abbreviated Accounts

31 March 2014

RES (DEVON) LIMITED Registered Number 06008460

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 63,657 68,644
63,657 68,644
Current assets
Stocks 74,202 30,416
Debtors 412,676 394,519
Cash at bank and in hand 455 97
487,333 425,032
Creditors: amounts falling due within one year (414,273) (366,604)
Net current assets (liabilities) 73,060 58,428
Total assets less current liabilities 136,717 127,072
Creditors: amounts falling due after more than one year (60,906) (66,189)
Provisions for liabilities (11,374) (12,005)
Total net assets (liabilities) 64,437 48,878
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 64,337 48,778
Shareholders' funds 64,437 48,878
  • For the year ending 31 March 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.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 4 December 2014

And signed on their behalf by:
David Jeffery, Director

RES (DEVON) LIMITED Registered Number 06008460

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant & machinery - 20% straight line
Fixtures, fittings & equipment - 25% straight line
Motor vehicles - 20% straight line

Other accounting policies
Leasing and hire purchase commitments - Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Stock and work in progress - Stock and work in progress are valued at the lower of cost and net realisable value.

Deferred taxation - Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

2Tangible fixed assets
£
Cost
At 1 April 2013 144,046
Additions 28,360
Disposals (12,501)
Revaluations -
Transfers -
At 31 March 2014 159,905
Depreciation
At 1 April 2013 75,402
Charge for the year 29,721
On disposals (8,875)
At 31 March 2014 96,248
Net book values
At 31 March 2014 63,657
At 31 March 2013 68,644
3Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
100 Ordinary shares of £1 each 100 100