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REGISTERED NUMBER: 05809944 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

RDL Grinding Technology Limited

RDL Grinding Technology Limited (Registered number: 05809944)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RDL Grinding Technology Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: R L Lockwood
Mrs A Lockwood





REGISTERED OFFICE: Park House
37 Clarence Street
Leicester
LE1 3RW





BUSINESS ADDRESS: Unit 10, Northbridge Works
Storey Street
Leicester
LE3 5GR





REGISTERED NUMBER: 05809944 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

RDL Grinding Technology Limited (Registered number: 05809944)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,228,018 913,293
1,228,018 913,293

CURRENT ASSETS
Stocks 75,000 75,000
Debtors 6 746,717 735,131
Cash at bank 581,013 756,098
1,402,730 1,566,229
CREDITORS
Amounts falling due within one year 7 (995,870 ) (968,389 )
NET CURRENT ASSETS 406,860 597,840
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,634,878

1,511,133

CREDITORS
Amounts falling due after more than one
year

8

(166,627

)

(330,061

)

PROVISIONS FOR LIABILITIES (302,036 ) (159,357 )
NET ASSETS 1,166,215 1,021,715

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 1,165,915 1,021,415
SHAREHOLDERS' FUNDS 1,166,215 1,021,715

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

RDL Grinding Technology Limited (Registered number: 05809944)

Balance Sheet - continued
31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2023 and were signed on its behalf by:





R L Lockwood - Director


RDL Grinding Technology Limited (Registered number: 05809944)

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

1. STATUTORY INFORMATION

RDL Grinding Technology 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.

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 amounts paid in connection with the acquisition of businesses in 2014 and 2016, is being amortised evenly over its estimated useful life of two 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 reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

RDL Grinding Technology Limited (Registered number: 05809944)

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

2. ACCOUNTING POLICIES - continued

Government grants
Government Grants receivable in relation to expenditure is recognised when the expenditure is charged to the profit and loss.

Hire purchase and leasing commitments
Assets obtained under the hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 135,000
AMORTISATION
At 1 June 2022
and 31 May 2023 135,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

RDL Grinding Technology Limited (Registered number: 05809944)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 2,413,380 47,219 102,964 11,085 2,574,648
Additions 676,588 7,273 - 2,820 686,681
Disposals (171,255 ) - - - (171,255 )
At 31 May 2023 2,918,713 54,492 102,964 13,905 3,090,074
DEPRECIATION
At 1 June 2022 1,580,664 42,722 28,435 9,534 1,661,355
Charge for year 290,221 2,872 18,632 2,032 313,757
Eliminated on disposal (113,056 ) - - - (113,056 )
At 31 May 2023 1,757,829 45,594 47,067 11,566 1,862,056
NET BOOK VALUE
At 31 May 2023 1,160,884 8,898 55,897 2,339 1,228,018
At 31 May 2022 832,716 4,497 74,529 1,551 913,293

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 439,239 403,549
Amounts owed by group undertakings 283,600 280,000
Other debtors 23,878 51,582
746,717 735,131

Other debtors includes prepayments and accrued income of £23,878 (2022: £51,582).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 48,628 42,088
Hire purchase contracts 114,806 119,358
Trade creditors 350,394 173,164
Amounts owed to group undertakings 382,489 420,228
Taxation and social security 94,632 204,529
Other creditors 4,921 9,022
995,870 968,389

Other creditors includes accruals and deferred income of £3,300 (2022: £4,000).

RDL Grinding Technology Limited (Registered number: 05809944)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 121,102 169,730
Hire purchase contracts 45,525 160,331
166,627 330,061

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Hire purchase contracts 160,331 279,689

Hire purchase liabilities are secured on the individual assets being acquired.

10. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £20,734 (2022: £28,889).