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Registration number: 07561597

RCM Thermal Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

D C Accounting Solutions Ltd
Chartered Accountants and Business Advisers
Heron House
39 - 41 Higher Bents Lane
Bredbury
Stockport
Cheshire
SK6 1EE

 

RCM Thermal Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 9

 

RCM Thermal Ltd

Company Information

Directors

Mrs Christina Massey

Mr Robert Massey

Company secretary

Miss Jayne Elizabeth Massey

Registered office

Heron House
39 41 Higher Bents Lane
Bredbury
Stockport
Cheshire
SK6 1EE

Accountants

D C Accounting Solutions Ltd
Chartered Accountants and Business Advisers
Heron House
39 - 41 Higher Bents Lane
Bredbury
Stockport
Cheshire
SK6 1EE

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
RCM Thermal Ltd
for the Year Ended 31 March 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of RCM Thermal Ltd for the year ended 31 March 2018 as set out on pages 3 to 9 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
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of RCM Thermal Ltd, as a body, in accordance with the terms of our engagement letter dated 14 November 2013. Our work has been undertaken solely to prepare for your approval the accounts of RCM Thermal Ltd and state those matters that we have agreed to state to the Board of Directors of RCM Thermal Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RCM Thermal Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that RCM Thermal 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 loss of RCM Thermal Ltd. You consider that RCM Thermal 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 RCM Thermal 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.

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

D C Accounting Solutions Ltd
Chartered Accountants and Business Advisers
Heron House
39 - 41 Higher Bents Lane
Bredbury
Stockport
Cheshire
SK6 1EE

12 November 2018

 

RCM Thermal Ltd

(Registration number: 07561597)
Balance Sheet as at 31 March 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

3,394

4,379

Current assets

 

Stocks

5

1,211

2,707

Debtors

6

14,874

17,647

Cash at bank and in hand

 

49,217

66,567

 

65,302

86,921

Creditors: Amounts falling due within one year

7

(15,545)

(14,700)

Net current assets

 

49,757

72,221

Total assets less current liabilities

 

53,151

76,600

Provisions for liabilities

(645)

(832)

Net assets

 

52,506

75,768

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

52,406

75,668

Total equity

 

52,506

75,768

For the financial year ending 31 March 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.

 

RCM Thermal Ltd

(Registration number: 07561597)
Balance Sheet as at 31 March 2018

Approved and authorised by the Board on 11 November 2018 and signed on its behalf by:
 

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

Mrs Christina Massey

Director

 

RCM Thermal Ltd

Notes to the Financial Statements for the Year Ended 31 March 2018

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Heron House
39 41 Higher Bents Lane
Bredbury
Stockport
Cheshire
SK6 1EE
England

The principal place of business is:
The Smithy
Ashton Road
Oldham
OL8 3HX
England

These financial statements were authorised for issue by the Board on 11 November 2018.

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.

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

Plant and Machinery

15% Reducing Balance

Fixtures and Fittings

33.3% Reducing Balance

Motor Vehicles

25% Reducing Balance

 

RCM Thermal Ltd

Notes to the Financial Statements for the Year Ended 31 March 2018

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

RCM Thermal Ltd

Notes to the Financial Statements for the Year Ended 31 March 2018

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2017 - 3).

 

RCM Thermal Ltd

Notes to the Financial Statements for the Year Ended 31 March 2018

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 April 2017

1,382

9,000

2,828

13,210

At 31 March 2018

1,382

9,000

2,828

13,210

Depreciation

At 1 April 2017

1,148

6,153

1,530

8,831

Charge for the year

78

712

195

985

At 31 March 2018

1,226

6,865

1,725

9,816

Carrying amount

At 31 March 2018

156

2,135

1,103

3,394

At 31 March 2017

234

2,847

1,298

4,379

5

Stocks

2018
£

2017
£

Finished goods and goods for resale

1,211

2,707

6

Debtors

2018
£

2017
£

Trade debtors

11,534

17,417

Other debtors

3,340

230

Total current trade and other debtors

14,874

17,647

7

Creditors

Note

2018
£

2017
£

Due within one year

 

Trade creditors

 

823

3,556

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,810

77

Taxation and social security

 

1,557

4,903

Other creditors

 

11,355

6,164

 

15,545

14,700

 

RCM Thermal Ltd

Notes to the Financial Statements for the Year Ended 31 March 2018

8

Dividends

Interim dividends paid

 

2018
£

2017
£

Interim dividend of £100 (2017 - £301) per each Ordinary share

10,000

30,100