RICHARDS RESIDENTIAL SUPPLIES LIMITED - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 02583102 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2017

for

RICHARDS RESIDENTIAL SUPPLIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Richard McGregor Benson

Valerie Benson

SECRETARY:

Valerie Benson

REGISTERED OFFICE:

Vivary Buildings

11 Spring Lane

COLNE

Lancashire

BB8 9BD

REGISTERED NUMBER:

02583102 (England and Wales)

ACCOUNTANTS:

G & C Professionals Limited

trading as Graham & Company

Chartered Certified Accountants

& Business Advisers

Cleveland House

1-10 Sitwell Street

KINGSTON UPON HULL

East Yorkshire

HU8 7BE

FIXED ASSETS

Tangible assets

3

23,418

27,710

CURRENT ASSETS

Stocks

4

103,697

75,937

Debtors

5

112,177

85,025

Cash in hand

33

153

215,907

161,115

CREDITORS

Amounts falling due within one year

6

172,928

114,358

NET CURRENT ASSETS

42,979

46,757

TOTAL ASSETS LESS CURRENT LIABILITIES

66,397

74,467

CREDITORS

Amounts falling due after more than one year

7

28,714

57,045

NET ASSETS

37,683

17,422

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Share premium

11

14,788

14,788

Retained earnings

11

21,895

1,634

SHAREHOLDERS' FUNDS

37,683

17,422

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 27 June 2018 and were signed on its behalf by:

Richard McGregor Benson - Director

1.	STATUTORY INFORMATION

RICHARDS RESIDENTIAL SUPPLIES 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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

in accordance with lease term

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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.

3.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 October 2016

5,783

18,714

10,058

Additions

-

333

-

At 30 September 2017

5,783

19,047

10,058

DEPRECIATION

At 1 October 2016

5,783

15,786

8,604

Charge for year

-

610

217

At 30 September 2017

5,783

16,396

8,821

NET BOOK VALUE

At 30 September 2017

-

2,651

1,237

At 30 September 2016

-

2,928

1,454

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 October 2016

53,218

6,008

93,781

Additions

-

902

1,235

At 30 September 2017

53,218

6,910

95,016

DEPRECIATION

At 1 October 2016

31,594

4,304

66,071

Charge for year

4,324

376

5,527

At 30 September 2017

35,918

4,680

71,598

NET BOOK VALUE

At 30 September 2017

17,300

2,230

23,418

At 30 September 2016

21,624

1,704

27,710

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 October 2016

and 30 September 2017

18,048

DEPRECIATION

At 1 October 2016

2,048

Charge for year

3,200

At 30 September 2017

5,248

NET BOOK VALUE

At 30 September 2017

12,800

At 30 September 2016

16,000

4.

STOCKS

2017

2016

£

£

Goods for resale

53,469

52,937

Maintenance spares

3,000

3,000

Work in progress

47,228

20,000

103,697

75,937

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

111,194

83,969

Prepayments

983

1,056

112,177

85,025

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts (see note 8)

32,362

29,861

Other loans (see note 8)

9,668

10,573

Hire purchase contracts

3,674

3,540

Trade creditors

118,906

58,472

Social security and other taxes

509

2,605

VAT

1,226

1,903

Other creditors

5,521

5,808

Directors' loan accounts

705

848

Accrued expenses

357

748

172,928

114,358

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other loans (see note 8)

-

9,658

Hire purchase contracts

1,714

5,387

Directors loan

27,000

42,000

28,714

57,045

8.

LOANS

An analysis of the maturity of loans is given below:

2017

2016

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

32,362

29,861

Funding Circle loan

9,668

10,573

42,030

40,434

Amounts falling due between one and two years:

Other loans

-

9,658

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

32,362

29,861

The bank overdraft is secured by a joint and several guarantee by the directors limited to £30,000 and

a mortgage debenture dated 1 April 1993.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1,000

Ordinary

£1

1,000

1,000

11.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 October 2016

1,634

14,788

16,422

Profit for the year

33,261

33,261

Dividends

(13,000

)

(13,000

)

At 30 September 2017

21,895

14,788

36,683