R S & J Ltd - Period Ending 2018-02-28

R S & J Ltd - Period Ending 2018-02-28


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Registration number: 03904519

R S & J Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2018

 

R S & J Ltd

Contents


 

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

R S & J Ltd

Registration number: 03904519

Balance Sheet as at 28 February 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

22,070

28,178

Current assets

 

Stocks

5

6,800

6,500

Debtors

6

5,114

5,288

Cash at bank and in hand

 

5,576

14,041

 

17,490

25,829

Creditors: Amounts falling due within one year

7

(23,991)

(26,458)

Net current liabilities

 

(6,501)

(629)

Net assets

 

15,569

27,549

Capital and reserves

 

Called up share capital

274,500

274,500

Profit and loss account

(258,931)

(246,951)

Total equity

 

15,569

27,549

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

 

R S & J Ltd

Registration number: 03904519

Balance Sheet as at 28 February 2018 (continued)

For the financial year ending 28 February 2018 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 14 August 2018 and signed on its behalf by:
 

R E McCluskey

Director

 

R S & J Ltd

Notes to the Financial Statements for the Year Ended 28 February 2018

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 £.

 

R S & J Ltd

Notes to the Financial Statements for the Year Ended 28 February 2018 (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.

 

R S & J Ltd

Notes to the Financial Statements for the Year Ended 28 February 2018 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2017 - 8).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 March 2017

108,288

22,905

19,058

150,251

Additions

-

559

-

559

At 28 February 2018

108,288

23,464

19,058

150,810

Depreciation

At 1 March 2017

87,912

18,848

15,313

122,073

Charge for the year

5,414

642

611

6,667

At 28 February 2018

93,326

19,490

15,924

128,740

Carrying amount

At 28 February 2018

14,962

3,974

3,134

22,070

At 28 February 2017

20,376

4,057

3,745

28,178

Included within the net book value of land and buildings above is £Nil (2017 - £Nil) in respect of long leasehold land and buildings and £14,962 (2017 - £20,376) in respect of short leasehold land and buildings.
 

5

Stocks

2018
£

2017
£

Other inventories

6,800

6,500

 

R S & J Ltd

Notes to the Financial Statements for the Year Ended 28 February 2018 (continued)

6

Debtors

2018
£

2017
£

Other debtors

5,114

5,288

Total current trade and other debtors

5,114

5,288

7

Creditors

Creditors: amounts falling due within one year

Note

2018
£

2017
£

Due within one year

 

Trade creditors

 

8,923

11,210

Directors loan accounts

5,827

5,880

Taxation and social security

 

6,448

6,710

Other creditors

 

2,793

2,658

 

23,991

26,458

8

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary Shares of £1 each

274,500

274,500

274,500

274,500