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REGISTERED NUMBER: 03019412 (England and Wales)







Unaudited Financial Statements

for the Year Ended 30 September 2023

for

RTC Insulation Limited

RTC Insulation Limited (Registered number: 03019412)

Contents of the Financial Statements
for the Year Ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RTC Insulation Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: R M Tippey
J M Tippey
K Tippey





SECRETARY: B Tippey





REGISTERED OFFICE: 28 Prescott Street
Halifax
West Yorkshire
HX1 2LG





REGISTERED NUMBER: 03019412 (England and Wales)





ACCOUNTANTS: Lindley Adams Limited Chartered Accountants
28 Prescott Street
Halifax
West Yorkshire
HX1 2LG

RTC Insulation Limited (Registered number: 03019412)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 166,844 127,713

CURRENT ASSETS
Stocks 3,818 3,004
Debtors 6 572,585 411,811
Cash at bank 95,423 89,097
671,826 503,912
CREDITORS
Amounts falling due within one year 7 264,701 246,824
NET CURRENT ASSETS 407,125 257,088
TOTAL ASSETS LESS CURRENT LIABILITIES 573,969 384,801

CREDITORS
Amounts falling due after more than one year 8 (126,967 ) (89,994 )

PROVISIONS FOR LIABILITIES (37,456 ) (20,825 )
NET ASSETS 409,546 273,982

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 409,346 273,782
SHAREHOLDERS' FUNDS 409,546 273,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 6 November 2023 and were signed on its behalf by:





R M Tippey - Director


RTC Insulation Limited (Registered number: 03019412)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. STATUTORY INFORMATION

RTC Insulation 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and equipment - 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 net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Assets obtained under 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.

RTC Insulation Limited (Registered number: 03019412)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


3. 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2022 6,215 8,211 171,424 21,963 207,813
Additions - - 90,455 9,926 100,381
Disposals - - (4,200 ) - (4,200 )
At 30 September 2023 6,215 8,211 257,679 31,889 303,994
DEPRECIATION
At 1 October 2022 6,098 7,792 46,744 19,466 80,100
Charge for year 29 105 52,996 4,970 58,100
Eliminated on disposal - - (1,050 ) - (1,050 )
At 30 September 2023 6,127 7,897 98,690 24,436 137,150
NET BOOK VALUE
At 30 September 2023 88 314 158,989 7,453 166,844
At 30 September 2022 117 419 124,680 2,497 127,713

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2022 148,152
Additions 87,789
Transfer to ownership (29,400 )
At 30 September 2023 206,541
DEPRECIATION
At 1 October 2022 36,046
Charge for year 46,873
Transfer to ownership (16,967 )
At 30 September 2023 65,952
NET BOOK VALUE
At 30 September 2023 140,589
At 30 September 2022 112,106

RTC Insulation Limited (Registered number: 03019412)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


6. DEBTORS
30.9.23 30.9.22
£    £   
Amounts falling due within one year:
Trade debtors 374,414 263,034
Other debtors 17,277 2,536
Directors' loan accounts 155,424 129,587
Prepayments 6,826 4,705
553,941 399,862

Amounts falling due after more than one year:
Refundable corporation tax 18,644 11,949

Aggregate amounts 572,585 411,811

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 9,890 11,979
Hire purchase contracts (see note 9) 35,073 21,177
Trade creditors 131,245 133,108
Tax 67,921 50,722
Social security and other taxes 5,864 8,273
VAT 4,712 9,875
Accrued expenses 9,996 11,690
264,701 246,824

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans - 1-2 years - 4,543
Hire purchase contracts (see note 9) 126,967 85,451
126,967 89,994

RTC Insulation Limited (Registered number: 03019412)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.23 30.9.22
£    £   
Gross obligations repayable:
Within one year 46,028 26,262
Between one and five years 145,913 93,880
191,941 120,142

Finance charges repayable:
Within one year 10,955 5,085
Between one and five years 18,946 8,429
29,901 13,514

Net obligations repayable:
Within one year 35,073 21,177
Between one and five years 126,967 85,451
162,040 106,628

Non-cancellable operating leases
30.9.23 30.9.22
£    £   
Within one year 19,899 -
Between one and five years 49,748 -
69,647 -

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Hire purchase contracts 162,040 106,628

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23 30.9.22
£    £   
R M Tippey and K Tippey
Balance outstanding at start of year 129,588 105,923
Amounts advanced 149,880 128,989
Amounts repaid (124,044 ) (105,324 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 155,424 129,588

RTC Insulation Limited (Registered number: 03019412)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

All loans are repayable on demand. Interest is charged at 2% pa