Richard A Young Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06542748 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2021

for

Richard A Young Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Young

REGISTERED OFFICE:

4 Atterbury Avenue

Leighton Buzzard

Bedfordshire

LU7 3LE

REGISTERED NUMBER:

06542748 (England and Wales)

ACCOUNTANTS:

R A & D A Thompson

30 High Street

Leighton Buzzard

Bedfordshire

LU7 1EA

FIXED ASSETS

Intangible assets

4

58,900

44,818

Tangible assets

5

6,244

15,064

65,144

59,882

CURRENT ASSETS

Debtors

6

670

12,283

Cash at bank

-

20,931

670

33,214

CREDITORS

Amounts falling due within one year

7

47,880

68,736

NET CURRENT LIABILITIES

(47,210

)

(35,522

)

TOTAL ASSETS LESS CURRENT LIABILITIES

17,934

24,360

PROVISIONS FOR LIABILITIES

1,186

2,862

NET ASSETS

16,748

21,498

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

16,648

21,398

SHAREHOLDERS' FUNDS

16,748

21,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 June 2021 and were signed by:

R Young - Director

1.	STATUTORY INFORMATION

Richard A Young 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2020

112,054

Additions

62,000

Disposals

(112,054

)

At 30 April 2021

62,000

AMORTISATION

At 1 May 2020

67,236

Charge for year

3,100

Eliminated on disposal

(67,236

)

At 30 April 2021

3,100

NET BOOK VALUE

At 30 April 2021

58,900

At 30 April 2020

44,818

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2020

40,255

Disposals

(16,180

)

At 30 April 2021

24,075

DEPRECIATION

At 1 May 2020

25,191

Charge for year

1,994

Eliminated on disposal

(9,354

)

At 30 April 2021

17,831

NET BOOK VALUE

At 30 April 2021

6,244

At 30 April 2020

15,064

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

670

9,576

Other debtors

-

2,707

670

12,283

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

8,226

-

Hire purchase contracts

12,457

16,062

Trade creditors

14,136

43,622

Taxation and social security

12,017

7,507

Other creditors

1,044

1,545

47,880

68,736

8.	RELATED PARTY DISCLOSURES

Dividends are paid to the directors who own the whole share capital of the business