Company Registration No. 07508068 (England and Wales)
RWMC Installations Limited
Unaudited accounts
for the year ended 31 March 2017
RWMC Installations Limited
Unaudited accounts
Contents
RWMC Installations Limited
Company Information
for the year ended 31 March 2017
Company Number
07508068 (England and Wales)
Registered Office
Waterworks House
Derby Road
Stanton By Bridge, Derby
Derbyshire
DE73 7HS
United Kingdom
RWMC Installations Limited
Statement of financial position
as at 31 March 2017
Tangible assets
15,873
16,197
Cash at bank and in hand
5,339
5,280
Creditors: amounts falling due within one year
(110,828)
(159,459)
Net current liabilities
(11,424)
(14,464)
Total assets less current liabilities
4,449
1,733
Provisions for liabilities
Deferred tax
(1,693)
(1,693)
Called up share capital
2
2
Profit and loss account
2,754
38
Shareholders' funds
2,756
40
For the year ending 31 March 2017 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 28 December 2017.
Ryan Williams
Director
Company Registration No. 07508068
RWMC Installations Limited
Notes to the Accounts
for the year ended 31 March 2017
RWMC Installations Limited is a private company, limited by shares, registered in England and Wales, registration number 07508068. The registered office is Waterworks House, Derby Road, Stanton By Bridge, Derby, Derbyshire, DE73 7HS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended
31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is
1 April 2016.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in note
11 below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on Reducing Balance
Motor vehicles
25% on Reducing Balance
Fixtures & fittings
25% on Reducing Balance
Computer equipment
25% on Reducing Balance
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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
RWMC Installations Limited
Notes to the Accounts
for the year ended 31 March 2017
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2016
4,173
11,500
3,756
5,398
24,827
Additions
1,670
-
632
175
2,477
At 31 March 2017
5,843
11,500
4,388
5,573
27,304
At 1 April 2016
2,128
3,191
563
2,748
8,630
Charge for the year
557
1,246
574
424
2,801
At 31 March 2017
2,685
4,437
1,137
3,172
11,431
At 31 March 2017
3,158
7,063
3,251
2,401
15,873
At 31 March 2016
2,045
8,309
3,193
2,650
16,197
Trade debtors
55,865
123,316
7
Creditors: amounts falling due within one year
2017
2016
Trade creditors
35,558
69,489
Taxes and social security
37,850
53,073
Other creditors
47,420
36,897
Loans from directors
(10,000)
-
RWMC Installations Limited
Notes to the Accounts
for the year ended 31 March 2017
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan
-
10,000
-
10,000
A loan to the director, R Williams, Was made in 2016/17. The loan was repaid in full on 30th November 2017.
10
Average number of employees
During the year the average number of employees was 9 (2016: 9).
11
Reconciliations on adoption of FRS 102
