Unaudited Abbreviated Accounts | ||
E.R. & R.T. Rackham Limited | ||
For the year ended |
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Company Number 00579459 | ||
E.R. & R.T. Rackham Limited | ||
Unaudited abbreviated accounts for the year ended 31 March 2015 | ||
Company Information | ||
Company registration number: | 00579459 | |
Registered office: | Deben Mills | |
Wickham Market | ||
Woodbridge | ||
Suffolk | ||
IP13 0RG | ||
Directors: | Mr D E Rackham | |
Mrs T J Rackham | ||
Secretary: | Mr D E Rackham | |
Bankers: | Lloyds TSB Bank Plc | |
Bank of Scotland | ||
Santander | ||
Accountants: | Churchgate Accountants Limited | |
18 Langton Place | ||
Bury St Edmunds | ||
Suffolk | ||
IP33 1NE | ||
E.R. & R.T. Rackham Limited | ||
Unaudited abbreviated accounts for the year ended 31 March 2015 | ||
Index | ||
PAGE | ||
Accountants' report | 1 | |
Principal accounting policies | 2-3 | |
Unaudited abbreviated balance sheet | 4-5 | |
Notes to the unaudited abbreviated accounts | 6-7 | |
Accountants' report to the board of directors on the unaudited abbreviated accounts of E.R. & R.T. Rackham Limited | ||
In accordance with the engagement letter dated 13 March 2012 and in order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of the company for the year ended 31 March 2015 which comprise the abbreviated balance sheet, principal accounting policies and the related notes from the company's accounting records and from information and explanations you have given to us. | ||
This report is made to the Board of Directors of E.R. & R.T. Rackham Limited, as a body, in accordance with the terms of our engagement letter dated 13 March 2012. Our work has been undertaken solely to prepare for your approval the abbreviated accounts of E.R. & R.T. Rackham Limited and state those matters that we have agreed to state to the Board of Directors of E.R. & R.T. Rackham Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants in England and Wales, as detailed at www.icaew.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E.R. & R.T. Rackham Limited and its Board of Directors as a body for our work or for this report. | ||
It is your duty to ensure that E.R. & R.T. Rackham Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view. You consider that E.R. & R.T. Rackham Limited is exempt from the statutory audit requirement for the year ended 31 March 2015. | ||
We have not been instructed to carry out an audit or a review of the abbreviated accounts of E.R. & R.T. Rackham Limited. 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 abbreviated accounts. | ||
Churchgate Accountants Limited | ||
Bury St Edmunds | ||
2 September 2015 |
Page 1 | |
E.R. & R.T. Rackham Limited | |||
Unaudited abbreviated accounts for the year ended 31 March 2015 | |||
Accounting policies | |||
Basis of accounting | |||
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The principal accounting policies of the company have remained unchanged from the previous year and are set out below. | |||
Going concern | ||||
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. | ||||
Turnover | |||
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Tangible fixed assets and depreciation | |||
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% | |||
Leasehold properties | Period of lease | ||
Plant and machinery | 15% reducing balance | ||
Motor vehicles | 25% reducing balance | ||
Office equipment | 33% reducing balance | ||
Stocks | |||
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. | |||
Page 2 | |
E.R. & R.T. Rackham Limited | |||
Unaudited abbreviated accounts for the year ended 31 March 2015 | |||
Accounting policies (continued) | |||
Deferred taxation | |||
Deferred tax is recognised on all timing differences where the transactions or events that give the company an obligation to pay more tax in the future, or a right to pay less tax in the future, have occurred by the balance sheet date. Deferred tax assets are recognised when it is more likely than not that they will be recovered. Deferred tax is measured on an undiscounted basis using rates of tax that have been enacted or substantively enacted by the balance sheet date. | |||
Retirement benefits | |||
Defined contribution scheme | |||
The company operates various defined contribution pension schemes for the benefit of the employees and directors. The pension costs charged against the profits represent the amount of the contributions payable to the scheme in respect of the accounting period. The assets of the schemes are administered by trustees and are held separately from those of the company. | |||
Operating lease agreements | |||
All leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the term of the lease. | |||
Financial instruments | |||
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Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. | |||
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited directly to equity. | |||
Page 3 | |
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Unaudited abbreviated accounts for the year ended |
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Unaudited abbreviated balance sheet | ||||||
Note | 2015 | 2014 | ||||
£ | £ | £ | £ | |||
Fixed assets | ||||||
Tangible assets | 1 |
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Current assets | ||||||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves | ||||||
Called up equity share capital | 2 |
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Share premium account |
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Other reserves |
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Profit and loss account |
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Shareholders' funds |
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The accompanying accounting policies and notes form an integral part of these abbreviated accounts. | |
Page 4 | |
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Unaudited abbreviated accounts for the year ended |
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Unaudited abbreviated balance sheet (continued) | ||||||
The directors are satisfied that |
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i) ensuring that the company keeps proper accounting records which comply with section 386 of the Act, and ii) preparing abbreviated accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to abbreviated accounts, so far as applicable to the company. |
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The abbreviated accounts were approved by the directors and authorised for issue on |
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The accompanying accounting policies and notes form an integral part of these abbreviated accounts. | |
Page 5 | |
E.R. & R.T. Rackham Limited | |||
Unaudited abbreviated accounts for the year ended 31 March 2015 | |||
Notes to the unaudited abbreviated accounts | |||
1 | Fixed assets | |
Tangible | |||
assets | Total | ||
£ | £ | ||
Cost | |||
At 1 April 2014 |
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475,247 | |
Additions |
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74,729 | |
Disposals | ( |
(108,087) | |
At 31 March 2015 |
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441,889 | |
Depreciation | |||
At 1 April 2014 |
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333,900 | |
Provided in the year |
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36,899 | |
Eliminated on disposal | ( |
(69,478) | |
At 31 March 2015 |
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301,321 | |
Net book amount at 31 March 2015 |
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140,568 | |
Net book amount at 31 March 2014 |
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141,347 | |
Page 6 | |
E.R. & R.T. Rackham Limited | |||
Unaudited abbreviated accounts for the year ended 31 March 2015 | |||
Notes to the unaudited abbreviated accounts (continued) | |||
2 | Equity share capital |
2015 | 2014 | ||
£ | £ | ||
Authorised | |||
5,000 ordinary A shares of £1 each | 5,000 | 5,000 | |
5,000 ordinary B shares of £1 each | 5,000 | 5,000 | |
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Allotted, called up and fully paid | |||
813 ordinary A shares of £1 each | 813 | 813 | |
812 ordinary B shares of £1 each | 812 | 812 | |
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3 | Controlling related party | ||
The company is under the control of Mr D E Rackham throughout the year and previous year by virtue of his majority shareholding. Mr D E Rackham is also a director of the company. | |||
Page 7 | |