Rye Demolition Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05755522 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 NOVEMBER 2016 TO 30 APRIL 2018

FOR

RYE DEMOLITION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTOR:

Mr S Barlow

SECRETARY:

Kerry Secretarial Services Limited

REGISTERED OFFICE:

c/o Cox Costello

Basing House

46 High Street

Rickmansworth

Hertfordshire

WD3 1HP

REGISTERED NUMBER:

05755522 (England and Wales)

ACCOUNTANTS:

Cox Costello South Limited

Chartered Accountants and Chartered Tax Advisers

Basing House

46 High Street

Rickmansworth

Hertfordshire

WD3 1HP

FIXED ASSETS

Tangible assets

4

17,733

27,963

CURRENT ASSETS

Stocks

966,695

445,048

Debtors

5

946,098

332,236

Cash at bank

712,323

98,511

2,625,116

875,795

CREDITORS

Amounts falling due within one year

6

2,447,510

742,020

NET CURRENT ASSETS

177,606

133,775

TOTAL ASSETS LESS CURRENT LIABILITIES

195,339

161,738

PROVISIONS FOR LIABILITIES

1,392

1,392

NET ASSETS

193,947

160,346

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

193,847

160,246

SHAREHOLDERS' FUNDS

193,947

160,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 2 October 2018 and were signed by:

Mr S Barlow - Director

1.	STATUTORY INFORMATION

Rye Demolition 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.

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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the period ended 30 April 2018 are the first that are prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1 November 2015.

Turnover

Turnover represents net invoiced fees for the provision of demolition services. Turnover is recognised as goods

and services are supplied. Turnover wholly arises in the United Kingdom.

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.

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Stocks

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

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of

its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there

is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis

or to realised the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised costs using the effective interest

method unless the arrangement constitutes a financing transaction, where the transaction is measured at the

present value of the future receipts discounted at a market rate of interest. Financial assets classified as

receivable within one year are not amortised.

Impairment of financial assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each

balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash

generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its

recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued

amount where the impairment loss is a revaluation decrease.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are

settled, or when the company transfers the financial asset and substantially all the risks and rewards of

ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the

asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets

of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless

the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value

of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within

one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year

or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or

cancelled.

Taxation

Taxation for the period 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 period 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

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.

The interest element of these obligations is charged to the profit and loss account 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.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term highly liquid investments that mature in no more than three months from the date of acquisition

and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 November 2016

and 30 April 2018

69,575

48,823

118,398

DEPRECIATION

At 1 November 2016

51,141

39,294

90,435

Charge for period

6,656

3,574

10,230

At 30 April 2018

57,797

42,868

100,665

NET BOOK VALUE

At 30 April 2018

11,778

5,955

17,733

At 31 October 2016

18,434

9,529

27,963

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

31.10.16

£

£

Trade debtors

815,862

332,236

Other debtors

130,236

-

946,098

332,236

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

31.10.16

£

£

Bank loans and overdrafts

22,042

40,305

Trade creditors

1,163,651

306,623

Amounts owed to group undertakings

516,433

332,193

Taxation and social security

35,057

66,635

Other creditors

710,327

(3,736

)

2,447,510

742,020

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.18

31.10.16

£

£

Bank loans

22,042

40,305

A debenture exists on all monies due or to become due from the company to its bankers.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 April 2018 and the year

ended 31 October 2016:

30.4.18

31.10.16

£

£

Mr S Barlow

Balance outstanding at start of period

-

-

Amounts advanced

35,252

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

35,252

-

9.	RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of Rye Plant Hire Limited. The principle place of this company is

Wilton farm, Marlow Road, Little Marlow, Bucks SL7 3RR. The registered office of the company is Basing House,

46 High Street, Rickmansworth, Hertfordshire, England, WD3 1HP.

Rye Plant Hire Limited does not have a single controlling party.

During the year, Rye Plant Hire Ltd invoiced Rye Demolition Ltd. As at the year end, the intercompany balance

owed to Rye Plant Hire Ltd was £516,433 (2016: £332,193).

Mr A W Hopkins, a director of Rye Demolition Ltd, is also a director of A & M Contract Services Ltd. During the

year A & M Contract Services Ltd invoiced Rye Demolition Ltd £135,000 (2016: £60,825). At the end of the year

a balance of £9,000 (2016: £Nil) was owed to the company by Rye Demolition Limited.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

accounts of Rye Demolition Ltd for the period ended 31 October 2015 as set out on pages 2 to 7 from the company's

accounting records and from information and explanations you have given us.

As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical

and other professional requirements which are detailed at:

www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Rye Demolition Ltd, as a body, in accordance with the terms of

our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Rye

Demolition Ltd and state those matters that we have agreed to state to the Board of Directors of Rye Demolition Ltd, as

a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law,

we do not accept or assume responsibility to anyone other than Rye Demolition Ltd and its Board of Directors as a body

for our work or for this report.

It is your duty to ensure that Rye Demolition Ltd has kept adequate accounting records and to prepare statutory

accounts that give a true and fair view of the assets, liabilities, financial position and profit of Rye Demolition Ltd. You

consider that Rye Demolition Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Rye Demolition Ltd. For this reason, we

have not verified the accuracy or completeness of the accounting records or information and explanations you have

given to us and we do not, therefore, express any opinion on the statutory accounts.

Cox Costello South Limited

Chartered Accountants and Chartered Tax Advisers

Basing House

46 High Street

Rickmansworth

Hertfordshire

WD3 1HP

2 October 2018