Reynolds Groundworks & Landscapes Ltd - Period Ending 2015-10-31

Registration number: 07816927

Reynolds Groundworks & Landscapes Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015
 

Thomas Harris Ltd
The 1929 Building
Merton Abbey Mills
18 Watermill Way
London
SW19 2RD

Reynolds Groundworks & Landscapes Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Reynolds Groundworks & Landscapes Ltd
for the Year Ended 31 October 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Reynolds Groundworks & Landscapes Ltd for the year ended 31 October 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Reynolds Groundworks & Landscapes Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Reynolds Groundworks & Landscapes Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reynolds Groundworks & Landscapes Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Reynolds Groundworks & Landscapes Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Reynolds Groundworks & Landscapes Ltd. You consider that Reynolds Groundworks & Landscapes Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Reynolds Groundworks & Landscapes Ltd. 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 statutory accounts.

......................................

Thomas Harris Ltd
The 1929 Building
Merton Abbey Mills
18 Watermill Way
London
SW19 2RD

29 January 2016

Page 1

Reynolds Groundworks & Landscapes Ltd
(Registration number: 07816927)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					51,320			60,855
Current assets
Stocks					12,776			11,546
Cash at bank and in hand					251			260
					13,027			11,806
Creditors: Amounts falling due within one year					(50,286)			(43,678)
Net current liabilities					(37,259)			(31,872)
Total assets less current liabilities					14,061			28,983
Creditors: Amounts falling due after more than one year					(13,333)			(27,715)
Net assets					728			1,268
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					628			1,168
Shareholders' funds					728			1,268

For the year ending 31 October 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 29 January 2016 and signed on its behalf by:

.........................................
T Reynolds
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Reynolds Groundworks & Landscapes Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance basis
Office equipment	25% reducing balance basis

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Reynolds Groundworks & Landscapes Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2014		114,039			114,039
Additions		50,028			50,028
Disposals		(84,400)			(84,400)
At 31 October 2015		79,667			79,667
Depreciation
At 1 November 2014		53,184			53,184
Charge for the year		6,932			6,932
Eliminated on disposals		(31,769)			(31,769)
At 31 October 2015		28,347			28,347
Net book value
At 31 October 2015		51,320			51,320
At 31 October 2014		60,855			60,855

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4