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COMPANY REGISTRATION NUMBER: 06719531
RVS Engineering (2008) Limited
Filleted Unaudited Financial Statements
31 May 2023
RVS Engineering (2008) Limited
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
9,491
18,008
Current assets
Stocks
109,869
89,310
Debtors
6
539,843
299,165
Cash at bank and in hand
25,282
24,517
---------
---------
674,994
412,992
Creditors: amounts falling due within one year
7
506,613
279,602
---------
---------
Net current assets
168,381
133,390
---------
---------
Total assets less current liabilities
177,872
151,398
Creditors: amounts falling due after more than one year
8
22,449
32,407
---------
---------
Net assets
155,423
118,991
---------
---------
Capital and reserves
Called up share capital
9
1
1
Profit and loss account
155,422
118,990
---------
---------
Shareholders funds
155,423
118,991
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 May 2023 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
RVS Engineering (2008) Limited
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 13 November 2023 , and are signed on behalf of the board by:
Mr JC Mathias
Director
Company registration number: 06719531
RVS Engineering (2008) Limited
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Parcau Isaf Farm, Laleston, Bridgend, CF32 0NB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Fixtures and fittings
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2022: 14 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 June 2022 and 31 May 2023
114,985
26,676
141,661
---------
--------
---------
Depreciation
At 1 June 2022
97,577
26,076
123,653
Charge for the year
7,917
600
8,517
---------
--------
---------
At 31 May 2023
105,494
26,676
132,170
---------
--------
---------
Carrying amount
At 31 May 2023
9,491
9,491
---------
--------
---------
At 31 May 2022
17,408
600
18,008
---------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
224,296
150,519
Other debtors
315,547
148,646
---------
---------
539,843
299,165
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,958
9,702
Trade creditors
221,315
163,195
Corporation tax
10,558
Social security and other taxes
37,399
24,373
Other creditors
227,383
82,332
---------
---------
506,613
279,602
---------
---------
Included within trade and other creditors is debt secured by fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, uncalled capital, buildings, fixtures, fixed plant and machinery.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
22,449
32,407
--------
--------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
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