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REGISTERED NUMBER:
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Audited Financial Statements for the Year Ended 31 December 2018 |
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R S M Beare (Stoke Canon) Limited |
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REGISTERED NUMBER:
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Audited Financial Statements for the Year Ended 31 December 2018 |
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for |
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R S M Beare (Stoke Canon) Limited |
R S M Beare (Stoke Canon) Limited (Registered number: 02573438) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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R S M Beare (Stoke Canon) Limited |
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Company Information |
for the Year Ended 31 December 2018 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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Senior statutory auditor: |
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Auditors: |
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Chartered accountants and statutory auditors |
Wills Bingley St Denys House |
22 East Hill |
St Austell |
Cornwall |
PL25 4TR |
R S M Beare (Stoke Canon) Limited (Registered number: 02573438) |
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Balance Sheet |
31 December 2018 |
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31/12/18 | 31/12/17 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 6 |
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Net current assets |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one year | 7 | ( |
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Provisions for liabilities | ( |
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Net assets |
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Capital and reserves |
Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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R S M Beare (Stoke Canon) Limited (Registered number: 02573438) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | Statutory information |
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R S M Beare (Stoke Canon) Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, |
net of discounts and Value Added Tax. |
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Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the |
buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated |
economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be |
measured reliably. |
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Tangible fixed assets |
All fixed assets are initially recorded at cost. |
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The Directors consider that buildings are maintained in such a state of repair that their residual value is at least equal to |
the net book value. As a result the corresponding depreciation would not be material and therefore is not charged in the |
profit and loss account. |
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The Directors perform annual impairment reviews in accordance with the requirements of FRS15 and FRS11 to ensure that the |
carrying value is not lower than the recoverable amount. |
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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: |
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Plant & Machinery - 25% straight line |
Motor Vehicles - 25% straight line |
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Stocks |
Stock and Work in Progress are valued at the lower of cost and net realisable value. |
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Goods held as consignment stock are excluded from the stock valuation at the year end and no recognition of any liability in |
respect of goods held under consignment agreements are included in the accounts. A liability and asset is only recognised in |
the event that the company acquires title to the consignment goods, in which case the date of the acquisition of the title |
determines the timing of the recognition of the associated transaction in the accounts. |
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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. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other |
deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of |
deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have |
been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing |
difference. |
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Finance leases and hire purchse contracts |
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position 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. |
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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. |
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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. |
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Provisions |
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable |
that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be |
estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the |
provision as an expense. |
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Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date |
and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would |
be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss |
unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present |
value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a |
finance cost in profit or loss in the period it arises. |
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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. |
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Defined contribution plans |
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is |
provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in |
future payments or a cash refund. |
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When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the |
employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the |
discount is recognised as a finance cost in profit or loss in the period in which it arises. |
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3. | Employees and directors |
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The average number of employees during the year was
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R S M Beare (Stoke Canon) Limited (Registered number: 02573438) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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4. | Tangible fixed assets |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
Cost |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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Depreciation |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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Net book value |
At 31 December 2018 |
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At 31 December 2017 |
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5. | Debtors: amounts falling due within one year |
31/12/18 | 31/12/17 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | Creditors: amounts falling due within one year |
31/12/18 | 31/12/17 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | Creditors: amounts falling due after more than one year |
31/12/18 | 31/12/17 |
£ | £ |
Hire purchase contracts |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Hire purchase | 13,631 | 13,508 |
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8. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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9. | Related party transactions |
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The company was under the control of Mr J F Roberts and Mr P R Street throughout the current and previous year. Mr J F |
Roberts and Mr P R Street are both directors and together own 78% of the issued share capital. |