RBH (DESIGN AND BUILD) LIMITED
RBH (DESIGN AND BUILD) LIMITED
RBH (DESIGN AND BUILD) LIMITED
Company Registration Number:
07891824 (England and Wales)
Unaudited statutory accounts for the year ended 31 March 2020
Period of accounts
Start date: 1 April 2019
End date: 31 March 2020
RBH (DESIGN AND BUILD) LIMITED
Contents of the Financial Statements
for the Period Ended 31 March 2020
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
RBH (DESIGN AND BUILD) LIMITED
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 March 2020
Principal activities of the company
Additional information
RBH Limited entered into a grant funding agreement with the Homes and Communities Agency as part of the Affordable Homes Programme and has since entered into contracts with RBH (Design and Build) Limited for the delivery of individual development schemes. Similarly RBH Limited has now received grant funding through the Homes England Shared Ownership Affordable Housing Programme for 2017-21 which will see RBH contract with RBH (D&B) to build a further 99 new homes. The cost of building activity in the year was £6.1m, mainly comprising developments at:- Abbey Road (25 homes) – This is a development of new homes comprising 21 three bedroom houses and 4 two bedroom houses for sale on a shared ownership basis in Hollin, Middleton. Practical Completion was in February 2020.- Smallbridge (39 homes) – This is a development of new homes compromising of 14 two bedroom houses, 24 three bedroom houses and 1 four bedroom house. 16 of these homes will be on a shared ownership basis. Practical completion is forecasted to be October 2020, however, this is likely to be delayed because of COVID-19.RBH (Design and Build) has generated profits for the year of £67,000 (2019: £61,000) and the Board gave approval for £67,000 (2019: £59,000) of these profits to be donated to RBH Limited. These profits were paid out on the 26 March 2020 (£14,000) and £53,000 to be paid in 2020.Directors:The directors who served during the year are shown on page 2.Basis of preparation:The directors have prepared these financial statements on the going concern basis, which they believe is appropriate based on planned future development activity commissioned by RBH Limited which will continue to generate profits for the company. Although some ongoing and planned development activities were postponed following the COVID-19 outbreak, these re-commenced in June 2020, and the company continue to be commissioned by RBH limited to support ongoing development plans.Directors’ responsibilities:The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulations.Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.In preparing these financial statements, the directors are required to:- select suitable accounting policies and then apply them consistently;- make judgements and accounting estimates that are reasonable and prudent;- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006.They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.Directors’ Indemnities:Directors’ and officers’ insurance cover has been established for all Directors of Group and/or its subsidiaries to provide appropriate cover for their reasonable actions on behalf of the Company. The indemnities, which constitute a qualifying third-party indemnity provision as defined by section 234 of the Companies Act 2006, were in force during the 2019/20 financial year and remain in force for all current and past Directors of the Company.Auditors:All the current directors have taken all of the steps that they ought to have taken to make themselves aware of any information needed by the company’s auditors for the purposes of their audit and to establish that the auditors are aware of that information. The directors are not aware of any relevant audit information of which the auditors are unaware.The auditor, BDO LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.In preparing this report and the financial statements the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
Directors
The directors shown below have held office during the whole of the period from
1 April 2019 to 31 March 2020
Secretary
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
RBH (DESIGN AND BUILD) LIMITED
Profit And Loss Account
for the Period Ended
2020 | 2019 | |
---|---|---|
| £ | £ |
Turnover: | | |
Cost of sales: | ( | ( |
Gross profit(or loss): | | |
Distribution costs: | | |
Administrative expenses: | ( | ( |
Other operating income: | | |
Operating profit(or loss): | | |
Interest receivable and similar income: | | |
Interest payable and similar charges: | | |
Profit(or loss) before tax: | | |
Tax: | | |
Profit(or loss) for the financial year: | | |
RBH (DESIGN AND BUILD) LIMITED
Balance sheet
As at
Notes | 2020 | 2019 | |
---|---|---|---|
| £ | £ | |
Called up share capital not paid: | | | |
Fixed assets | |||
Intangible assets: | | | |
Tangible assets: | | | |
Investments: | | | |
Total fixed assets: | | | |
Current assets | |||
Stocks: | | | |
Debtors: | 3 | | |
Cash at bank and in hand: | | | |
Investments: | | | |
Total current assets: | | | |
Prepayments and accrued income: | | | |
Creditors: amounts falling due within one year: | 4 | ( | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Creditors: amounts falling due after more than one year: | | | |
Provision for liabilities: | | | |
Accruals and deferred income: | | | |
Total net assets (liabilities): | | | |
Capital and reserves | |||
Called up share capital: | | | |
Share premium account: | | | |
Other reserves: | | | |
Profit and loss account: | | | |
Total Shareholders' funds: | | |
The notes form part of these financial statements
RBH (DESIGN AND BUILD) LIMITED
Balance sheet statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
RBH (DESIGN AND BUILD) LIMITED
Notes to the Financial Statements
for the Period Ended 31 March 2020
-
1. Accounting policies
Basis of measurement and preparation
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102 Turnover policy
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received, excluding discounts, rebates, value added tax and other sales taxes.Turnover shown in the statement of comprehensive income represents work done during the period, hence there is no work in progress. All turnover arises within the United Kingdom. Other accounting policies
Debtors:Short term debtors are measured at transaction price, less any impairment.Creditors:Short term creditors are measured at the transaction price.Financial InstrumentsThe company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.Debt instruments, accounts receivable and payable, are initially measured at thepresent value of the future payments and subsequently at amortised cost using theeffective interest method. Debt instruments that are payable or receivable withinone year, typically trade payables or receivables, are measured, initially andsubsequently, at the undiscounted amount of the cash or other consideration,expected to be paid or received. However if the arrangements of a short terminstrument constitute a financing transaction, like the payment of a trade debtdeferred beyond normal business terms or financed at a rate of interest that is not amarket rate or in case of an out-right short term loan not at market rate, thefinancial asset or liability is measured, initially and subsequently, at the present valueof the future payment discounted at a market rate of interest for a similar debtinstrument.Financial assets that are measured at cost and amortised cost are assessed at theend of each reporting period for objective evidence of impairment. If objectiveevidence of impairment is found, an impairment loss is recognised in the Profit andLoss Account.For financial assets measured at amortised cost, the impairment loss is measured asthe difference between an asset's carrying amount and the present value ofestimated cash flows discounted at the asset's original effective interest rate.15RBH (Design and Build) LimitedNotes to the Accounts (Continued)For the Year ended 31 March 2020If a financial asset has a variable interest rate, the discount rate for measuring anyimpairment loss is the current effective interest rate determined under the contract.For financial assets measured at cost less impairment, the impairment loss ismeasured as the difference between an asset's carrying amount and best estimate,which is an approximation of the amount that the company would receive for theasset if it were to be sold at the balance sheet date.Financial assets and liabilities are offset and the net amount reported in the BalanceSheet when there is an enforceable right to set off the recognised amounts andthere is an intention to settle on a net basis or to realise the asset and settle theliability simultaneously.
RBH (DESIGN AND BUILD) LIMITED
Notes to the Financial Statements
for the Period Ended 31 March 2020
-
2. Employees
2020 2019 Average number of employees during the period 0 0
RBH (DESIGN AND BUILD) LIMITED
Notes to the Financial Statements
for the Period Ended 31 March 2020
3. Debtors
2020 | 2019 | |
---|---|---|
£ | £ | |
Trade debtors | | |
Prepayments and accrued income | | |
Other debtors | | |
Total | | |
Debtors due after more than one year: | | |
RBH (DESIGN AND BUILD) LIMITED
Notes to the Financial Statements
for the Period Ended 31 March 2020
4. Creditors: amounts falling due within one year note
2020 | 2019 | |
---|---|---|
£ | £ | |
Amounts due under finance leases and hire purchase contracts | | |
Trade creditors | | |
Taxation and social security | | |
Accruals and deferred income | | |
Other creditors | | |
Total | | |