RICO MARSELLA JOINERY SERVICES LIMITED - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC420766 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

RICO MARSELLA JOINERY SERVICES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Marsella

Mrs J Marsella

REGISTERED OFFICE:

7 Bannoch Place

Motherwell

Lanarkshire

ML1 2JT

REGISTERED NUMBER:

SC420766 (Scotland)

ACCOUNTANTS:

Thomson Currie Accountancy Limited

Chartered Accountants

PO Box 9186

7 Pickering House

Netherton Road

Wishaw

ML2 0YP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,568

1,610

2,568

1,610

CURRENT ASSETS

Stocks

800

-

Debtors

242

584

Cash at bank

18,313

22,570

19,355

23,154

CREDITORS

Amounts falling due within one year

10,952

12,767

NET CURRENT ASSETS

8,403

10,387

TOTAL ASSETS LESS CURRENT LIABILITIES

10,971

11,997

PROVISIONS FOR LIABILITIES

488

322

NET ASSETS

10,483

11,675

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

10,383

11,575

SHAREHOLDERS' FUNDS

10,483

11,675

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 12 June 2018 and were signed on its behalf by:

R Marsella - Director

1.	STATUTORY INFORMATION

RICO MARSELLA JOINERY SERVICES LIMITED is a private company, limited by shares , registered in

Scotland. 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 consideration received or receivable, excluding value added tax. Turnover from the

provision of services is recognised on completion of the service.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five 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

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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 Profit and Loss Account,

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

10,500

Disposals

(10,500

)

At 31 March 2018

-

AMORTISATION

At 1 April 2017

10,500

Eliminated on disposal

(10,500

)

At 31 March 2018

-

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

3,404

Additions

1,324

At 31 March 2018

4,728

DEPRECIATION

At 1 April 2017

1,794

Charge for year

366

At 31 March 2018

2,160

NET BOOK VALUE

At 31 March 2018

2,568

At 31 March 2017

1,610

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

100

Ordinary

£1

100

100

7.	OTHER FINANCIAL COMMITMENTS

Total future financial commitments which are not included in the balance sheet amount to £2,854. (At 31 March

2017 - £5,448).

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Creditors falling due within one year includes a directors loan account. The loan account was not overdrawn

during the year.

9.	ULTIMATE CONTROLLING PARTY