R J Rogers Ltd Filleted accounts for Companies House (small and micro)

R J Rogers Ltd Filleted accounts for Companies House (small and micro)

R J ROGERS LTD - Company Information

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STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS
All of the members of R J Rogers Ltd have consented to the preparation of the abridged balance sheet for the year ending 30 November 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 04515727
R J ROGERS LTD
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED
30 November 2017
R J ROGERS LTD
ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2017
Contents
Page
Balance sheet
1
Notes to the abridged financial statements
3
R J ROGERS LTD
BALANCE SHEET
30 November 2017
2017
2016
Note
£
£
£
FIXED ASSETS
Tangible assets
5
10,094
11,637
CURRENT ASSETS
Stocks
1,675
1,600
Debtors
98,462
122,059
---------
---------
100,137
123,659
CREDITORS: amounts falling due within one year
86,982
103,843
---------
---------
NET CURRENT ASSETS
13,155
19,816
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
23,249
31,453
CREDITORS: amounts falling due after more than one year
4,946
9,691
--------
--------
NET ASSETS
18,303
21,762
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
18,203
21,662
--------
--------
SHAREHOLDERS FUNDS
18,303
21,762
--------
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members of R J Rogers Ltd have consented to the preparation of the abridged balance sheet for the year ending 30 November 2017 in accordance with Section 444(2A) of the Companies Act 2006.
R J ROGERS LTD
BALANCE SHEET (continued)
30 November 2017
These abridged financial statements were approved by the board of directors and authorised for issue on 27 June 2018 , and are signed on behalf of the board by:
R J Rogers
Director
Company registration number: 04515727
R J ROGERS LTD
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2017
1. General information
The company is a private company limited by shares, incorporated and registered in England and Wales. The address of the registered office is West Hill, 61 London Road, Maidstone, Kent, ME16 8TX.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 December 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date .
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance/33.3% straight line
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities .
Defined contribution plans
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company. Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2016: 4 ).
5. Tangible assets
£
Cost
At 1 December 2016
25,454
Additions
1,555
--------
At 30 November 2017
27,009
--------
Depreciation
At 1 December 2016
13,817
Charge for the year
3,098
--------
At 30 November 2017
16,915
--------
Carrying amount
At 30 November 2017
10,094
--------
At 30 November 2016
11,637
--------
6. Directors' advances, credits and guarantees
During the year the directors paid £5,204 (2016 - £20,800) to the company and the company repaid £4,736 (2016 - £21,723) to the directors. As at 30 November 2017 the directors owed the company £15,842 (2016 - £16,310). Transactions with directors are interest free, unsecured, and are repayable on demand. Bank overdrafts are secured personally by the directors up to a limit of £15,000.
7. Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 December 2015.
No transitional adjustments were required in equity or profit or loss for the year.