Riviera Electrical Services Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09798464 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 March 2018

for

Riviera Electrical Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R I Williams

Mrs W Stanley-Williams

REGISTERED OFFICE:

6 Becketts Close

Byfield

Daventry

Northamptonshire

NN11 6XS

REGISTERED NUMBER:

09798464 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

The Stables

Church Walk

Daventry

Northamptonshire

NN11 4BL

FIXED ASSETS

Intangible assets

4

8,800

9,900

Tangible assets

5

4,148

4,384

12,948

14,284

CURRENT ASSETS

Stocks

6

10,219

2,805

Debtors

7

693

3,431

Cash at bank and in hand

1,442

330

12,354

6,566

CREDITORS

Amounts falling due within one year

8

15,914

19,393

NET CURRENT LIABILITIES

(3,560

)

(12,827

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,388

1,457

PROVISIONS FOR LIABILITIES

9

788

877

NET ASSETS

8,600

580

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

8,500

480

SHAREHOLDERS' FUNDS

8,600

580

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 11 June 2018 and were signed on its behalf by:

Mr R I Williams - Director

1.	STATUTORY INFORMATION

Riviera Electrical Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 2016, 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.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

11,000

AMORTISATION

At 1 April 2017

1,100

Charge for year

1,100

At 31 March 2018

2,200

NET BOOK VALUE

At 31 March 2018

8,800

At 31 March 2017

9,900

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2017

2,655

10

3,038

298

6,001

Additions

2,109

-

-

-

2,109

Disposals

(885

)

-

-

-

(885

)

At 31 March 2018

3,879

10

3,038

298

7,225

DEPRECIATION

At 1 April 2017

605

10

886

116

1,617

Charge for year

777

-

759

99

1,635

Eliminated on disposal

(175

)

-

-

-

(175

)

At 31 March 2018

1,207

10

1,645

215

3,077

NET BOOK VALUE

At 31 March 2018

2,672

-

1,393

83

4,148

At 31 March 2017

2,050

-

2,152

182

4,384

6.

STOCKS

31/3/18

31/3/17

£

£

Stocks

8,097

2,805

Work-in-progress

2,122

-

10,219

2,805

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/18

31/3/17

£

£

Trade debtors

693

1,867

Prepayments

-

1,564

693

3,431

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/18

31/3/17

£

£

Trade creditors

2,984

3,027

Tax

6,441

5,771

VAT

1,720

-

Other creditors

1,046

271

Directors' current accounts

2,523

9,124

Accrued expenses

1,200

1,200

15,914

19,393

9.	PROVISIONS FOR LIABILITIES

31/3/18

31/3/17

£

£

Deferred tax

788

877

Deferred

tax

£

Balance at 1 April 2017

877

Accelerated capital allowances

(89

)

Balance at 31 March 2018

788

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/18

31/3/17

value:

£

£

100

Ordinary A

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 April 2017

480

Profit for the year

24,520

Dividends

(16,500

)

At 31 March 2018

8,500

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £16,500 (2017:£18,500 )were paid to the director.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr R I Williams.