Caseware UK (AP4) 2018.0.111 2018.0.111 2018-06-302018-06-30No description of principal activityfalse2017-07-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrue SC506318 2017-07-01 2018-06-30 SC506318 2016-07-01 2017-06-30 SC506318 2018-06-30 SC506318 2017-06-30 SC506318 c:CompanySecretary1 2017-07-01 2018-06-30 SC506318 c:Director1 2017-07-01 2018-06-30 SC506318 c:RegisteredOffice 2017-07-01 2018-06-30 SC506318 d:PlantMachinery 2017-07-01 2018-06-30 SC506318 d:PlantMachinery 2018-06-30 SC506318 d:PlantMachinery 2017-06-30 SC506318 d:PlantMachinery d:OwnedOrFreeholdAssets 2017-07-01 2018-06-30 SC506318 d:MotorVehicles 2017-07-01 2018-06-30 SC506318 d:MotorVehicles 2018-06-30 SC506318 d:MotorVehicles 2017-06-30 SC506318 d:MotorVehicles d:OwnedOrFreeholdAssets 2017-07-01 2018-06-30 SC506318 d:OwnedOrFreeholdAssets 2017-07-01 2018-06-30 SC506318 d:CurrentFinancialInstruments 2018-06-30 SC506318 d:CurrentFinancialInstruments 2017-06-30 SC506318 d:CurrentFinancialInstruments d:WithinOneYear 2018-06-30 SC506318 d:CurrentFinancialInstruments d:WithinOneYear 2017-06-30 SC506318 d:ShareCapital 2018-06-30 SC506318 d:ShareCapital 2017-06-30 SC506318 d:RetainedEarningsAccumulatedLosses 2018-06-30 SC506318 d:RetainedEarningsAccumulatedLosses 2017-06-30 SC506318 c:FRS102 2017-07-01 2018-06-30 SC506318 c:AuditExempt-NoAccountantsReport 2017-07-01 2018-06-30 SC506318 c:FullAccounts 2017-07-01 2018-06-30 SC506318 c:PrivateLimitedCompanyLtd 2017-07-01 2018-06-30 iso4217:GBP xbrli:pure
Registered number: SC506318










RIMTECH UK LTD.
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

 
RIMTECH UK LTD.
 

COMPANY INFORMATION


DIRECTOR
Greig Sutherland 




COMPANY SECRETARY
Kirsty Gray



REGISTERED NUMBER
SC506318



REGISTERED OFFICE
1 Adamson Way

Laurencekirk

Kincardineshire

AB30 1FS





 
RIMTECH UK LTD.
REGISTERED NUMBER:SC506318

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2018

2018
2017
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
30,321
11,041

  
30,321
11,041

CURRENT ASSETS
  

Stocks
  
6,000
5,000

Debtors: amounts falling due within one year
 5 
1,972
2,470

Cash at bank and in hand
  
26,249
20,809

  
34,221
28,279

Creditors: amounts falling due within one year
 6 
(53,361)
(37,606)

NET CURRENT LIABILITIES
  
 
 
(19,140)
 
 
(9,327)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
11,181
1,714

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(5,761)
(1,343)

  
 
 
(5,761)
 
 
(1,343)

NET ASSETS
  
5,420
371


CAPITAL AND RESERVES
  

Called up share capital 
  
1
1

Profit and loss account
  
5,419
370

  
5,420
371


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 November 2018.




Page 1

 
RIMTECH UK LTD.
REGISTERED NUMBER:SC506318

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2018

Greig Sutherland
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
RIMTECH UK LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

1.


GENERAL INFORMATION

RimTech UK Ltd. is a private limited company limited by shares incorporated in Scotland.  The registered office is 1 Adamson Way, Laurencekirk, AB30 1FS and the Company's registration number is SC506318.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

REVENUE

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 or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
RIMTECH UK LTD.
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Plant and machinery
-
12.5% reducing balance
Motor vehicles
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

Page 4

 
RIMTECH UK LTD.
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.9

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.10

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2017 - 1).

Page 5

 
RIMTECH UK LTD.
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

4.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Total

£
£
£



COST OR VALUATION


At 1 July 2017
5,740
9,000
14,740


Additions
23,768
1,333
25,101



At 30 June 2018

29,508
10,333
39,841



DEPRECIATION


At 1 July 2017
1,449
2,250
3,699


Charge for the year on owned assets
3,800
2,021
5,821



At 30 June 2018

5,249
4,271
9,520



NET BOOK VALUE



At 30 June 2018
24,259
6,062
30,321



At 30 June 2017
4,291
6,750
11,041


5.


DEBTORS

2018
2017
£
£


Trade debtors
1,169
870

Other debtors
803
1,600

1,972
2,470



6.


CREDITORS: Amounts falling due within one year

2018
2017
£
£

Trade creditors
437
-

Other taxation and social security
-
1,687

Other creditors
52,924
35,919

53,361
37,606



Page 6