R S & J Ltd - Period Ending 2019-02-28

Registration number: 03904519

R S & J Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2019

R S & J Ltd

Contents

 

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 7

R S & J Ltd

Registration number: 03904519

Balance Sheet as at 28 February 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	4	18,019	22,070
Current assets
Stocks	5	6,850	6,800
Debtors	6	4,435	5,114
Cash at bank and in hand		18,372	5,576
		29,657	17,490
Creditors: Amounts falling due within one year	7	(36,395)	(23,991)
Net current liabilities		(6,738)	(6,501)
Net assets		11,281	15,569
Capital and reserves
Called up share capital		274,500	274,500
Profit and loss account		(263,219)	(258,931)
Total equity		11,281	15,569

The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 1

R S & J Ltd

Registration number: 03904519

Balance Sheet as at 28 February 2019 (continued)

For the financial year ending 28 February 2019 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 1 October 2019 and signed on its behalf by:
 

 

R E McCluskey

Director

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 2

R S & J Ltd

Notes to the Financial Statements for the Year Ended 28 February 2019

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Wymondham Business Centre
1 Town Green
Wymondham
Norfolk
NR18 0PN
England

The principal place of business is:
Adam & Eve Public House
17 Bishopgate
Norwich
Norfolk
NR3 1RZ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Page 3

R S & J Ltd

Notes to the Financial Statements for the Year Ended 28 February 2019 (continued)

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture and fittings	15% Reducing balance method
Short Leasehold Improvements	5% Straight line method
Leasehold Buildings	5% Straight line method
Equipment	15% Reducing balance method

Stocks

Stocks are stated at the lower of cost and estimated selling price.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Page 4

R S & J Ltd

Notes to the Financial Statements for the Year Ended 28 February 2019 (continued)

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2018 - 8).

Page 5

R S & J Ltd

Notes to the Financial Statements for the Year Ended 28 February 2019 (continued)

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 March 2018	108,288	23,464	19,058	150,810
Additions	2,556	-	-	2,556
At 28 February 2019	110,844	23,464	19,058	153,366
Depreciation
At 1 March 2018	93,326	19,490	15,924	128,740
Charge for the year	5,542	547	518	6,607
At 28 February 2019	98,868	20,037	16,442	135,347
Carrying amount
At 28 February 2019	11,976	3,427	2,616	18,019
At 28 February 2018	14,962	3,974	3,134	22,070

Included within the net book value of land and buildings above is £11,976 (2018 - £14,962) in respect of short leasehold land and buildings.
 

5

Stocks

	2019 £	2018 £
Other inventories	6,850	6,800

Page 6

R S & J Ltd

Notes to the Financial Statements for the Year Ended 28 February 2019 (continued)

6

Debtors

	2019 £	2018 £
Trade debtors	758	-
Other debtors	3,677	5,114
Total current trade and other debtors	4,435	5,114

7

Creditors

Creditors: amounts falling due within one year

	Note	2019 £	2018 £
Due within one year
Trade creditors		14,909	8,923
Directors loan accounts		12,841	5,827
Taxation and social security		5,819	6,448
Other creditors		2,826	2,793
		36,395	23,991

8	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary Shares of £1 each	274,500	274,500	274,500	274,500

Page 7