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REGISTERED NUMBER: 04676945 (England and Wales)















RTS-RESOURCE LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2023






RTS-RESOURCE LIMITED (REGISTERED NUMBER: 04676945)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

RTS-RESOURCE LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J L Rice
S G Rice





REGISTERED OFFICE: The Creative Industries Centre
Mammoth Drive
Wolverhampton Science Park
Wolverhampton
West Midlands
WV10 9TG





REGISTERED NUMBER: 04676945 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

RTS-RESOURCE LIMITED (REGISTERED NUMBER: 04676945)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,200 7,200
Tangible assets 5 10,115 8,899
17,315 16,099

CURRENT ASSETS
Debtors 6 96,753 148,567
Cash at bank and in hand 170,715 172,757
267,468 321,324
CREDITORS
Amounts falling due within one year 7 31,727 76,578
NET CURRENT ASSETS 235,741 244,746
TOTAL ASSETS LESS CURRENT
LIABILITIES

253,056

260,845

PROVISIONS FOR LIABILITIES 2,529 2,225
NET ASSETS 250,527 258,620

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 250,427 258,520
SHAREHOLDERS' FUNDS 250,527 258,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RTS-RESOURCE LIMITED (REGISTERED NUMBER: 04676945)

Balance Sheet - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 July 2023 and were signed on its behalf by:





S G Rice - Director


RTS-RESOURCE LIMITED (REGISTERED NUMBER: 04676945)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

RTS-Resource Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

RTS-RESOURCE LIMITED (REGISTERED NUMBER: 04676945)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 60,000 7,200 67,200
AMORTISATION
At 1 April 2022
and 31 March 2023 60,000 - 60,000
NET BOOK VALUE
At 31 March 2023 - 7,200 7,200
At 31 March 2022 - 7,200 7,200

RTS-RESOURCE LIMITED (REGISTERED NUMBER: 04676945)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 3,991 53,342 57,333
Additions - 5,331 5,331
At 31 March 2023 3,991 58,673 62,664
DEPRECIATION
At 1 April 2022 3,991 44,443 48,434
Charge for year - 4,115 4,115
At 31 March 2023 3,991 48,558 52,549
NET BOOK VALUE
At 31 March 2023 - 10,115 10,115
At 31 March 2022 - 8,899 8,899

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 81,753 147,200
Directors' current accounts 15,000 -
VAT - 1,367
96,753 148,567

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 5,022 816
Social security and other taxes 23,445 70,158
VAT 1,375 -
Other creditors 115 329
Accrued expenses 1,770 5,275
31,727 76,578

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

RTS-RESOURCE LIMITED (REGISTERED NUMBER: 04676945)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


9. RELATED PARTY DISCLOSURES

At the balance sheet date, the director J L Rice owed the company £15,000 (2022 Nil).

This was repaid on 22 May 2023.

10. ULTIMATE CONTROLLING PARTY

The controlling party is S G Rice.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
RTS-Resource Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RTS-Resource Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that RTS-Resource Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of RTS-Resource Limited. You consider that RTS-Resource Limited 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 financial statements of RTS-Resource Limited. 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 financial statements.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


10 July 2023