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Registration number: 08112409

RPA Systems Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 January 2022

 

RPA Systems Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 10

 

RPA Systems Limited

Company Information

Director

Ms D M Stallaerts

Registered office

3 Shipston Business Village
Tilemans Lane Industrial Estate
Shipston on Stour
Warwickshire
CV36 4FF

Accountants

Stratford Accounting Limited
57A Henley Street
Stratford upon Avon
Warwickshire
CV37 6PT

 

RPA Systems Limited

(Registration number: 08112409)
Abridged Balance Sheet as at 31 January 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

1,278,315

1,534,017

Investments

5

152

152

 

1,278,467

1,534,169

Current assets

 

Stocks

6

127,056

112,000

Debtors

52,747

186,454

Cash at bank and in hand

 

17,270

59,268

 

197,073

357,722

Prepayments and accrued income

 

890

27,979

Creditors: Amounts falling due within one year

(1,649,659)

(1,838,950)

Net current liabilities

 

(1,451,696)

(1,453,249)

Total assets less current liabilities

 

(173,229)

80,920

Creditors: Amounts falling due after more than one year

(192,508)

(242,256)

Accruals and deferred income

 

(1,859)

(4,731)

Net liabilities

 

(367,596)

(166,067)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(367,696)

(166,167)

Shareholders' deficit

 

(367,596)

(166,067)

For the financial year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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.

 

RPA Systems Limited

(Registration number: 08112409)
Abridged Balance Sheet as at 31 January 2022

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 26 August 2022
 

.........................................
Ms D M Stallaerts
Director

 

RPA Systems Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

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:
3 Shipston Business Village
Tilemans Lane Industrial Estate
Shipston on Stour
Warwickshire
CV36 4FF

These financial statements were authorised for issue by the director on 26 August 2022.

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

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 group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.

The group 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 group's activities.

 

RPA Systems Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 group operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet 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

Building

Nil

Plant and machinery

10% reducing balance

Fixtures and fittings

25% reducing balance

Office equipment

25% reducing balance

Motor vehicle

25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

RPA Systems Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 group 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 group 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.

 

RPA Systems Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2021 - 4).

 

RPA Systems Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2021

1,249,122

28,834

410,096

9,855

14,828

1,712,735

Additions

-

-

80

-

-

80

Disposals

-

(16,742)

(377,667)

(1,379)

-

(395,788)

At 31 January 2022

1,249,122

12,092

32,509

8,476

14,828

1,317,027

Depreciation

At 1 February 2021

-

18,698

143,648

7,063

9,310

178,719

Charge for the year

-

656

2,400

497

1,380

4,933

Eliminated on disposal

-

(9,228)

(135,138)

(574)

-

(144,940)

At 31 January 2022

-

10,126

10,910

6,986

10,690

38,712

Carrying amount

At 31 January 2022

1,249,122

1,966

21,599

1,490

4,138

1,278,315

At 31 January 2021

1,249,122

10,137

266,448

2,792

5,518

1,534,017

Included within the net book value of land and buildings above is £1,249,122 (2021 - £1,249,122) in respect of freehold land and buildings.
 

 

RPA Systems Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

5

Investments

Total
£

Cost or valuation

At 1 February 2021

152

Provision

Carrying amount

At 31 January 2022

152

At 31 January 2021

152

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2022

2021

Subsidiary undertakings

RPA International Limited

3 Shipston Business Village
Tilemans Lane Industrial Estate
Shipston on Stour
Warwickshire
CV36 4FF
United Kingdom

England and Wales

Ordinary £1

100%

100%

Toughtac Limited

3 Shipston Business Village
Tilemans Lane Industrial Estate
Shipston on Stour
Warwickshire
CV36 4FF
United Kingdom

England and Wales

Ordinary £1

100%

100%

 

RPA Systems Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2022

Subsidiary undertakings

RPA International Limited

The principal activity of RPA International Limited is engineering services.

Toughtac Limited

The principal activity of Toughtac Limited is manufacturing of workwear, wholesales of other machinery and equipment.

6

Stocks

2022
£

2021
£

Work in progress

127,056

112,000

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100