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Company registration number: 6623087
RPS CONTRACTORS LIMITED
Unaudited filleted abridged financial statements
31 March 2023
RPS CONTRACTORS LIMITED
Contents
Accountant's report
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
RPS CONTRACTORS LIMITED
Report to the board of directors on the preparation of the
unaudited statutory financial statements of RPS CONTRACTORS LIMITED
Year ended 31 March 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2023 which comprise the abridged statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
P B Hourigan & Co
Chartered Certified Accountants
Garrards
Cowfold Road
WEST GRINSTEAD
West Sussex
RH13 8LY
8 November 2023
RPS CONTRACTORS LIMITED
Abridged statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 6 - -
Tangible assets 7 381,035 333,875
_______ _______
381,035 333,875
Current assets
Stocks 188,497 -
Debtors 267,113 306,830
Cash at bank and in hand 1,320,693 1,196,869
_______ _______
1,776,303 1,503,699
Creditors: amounts falling due
within one year ( 363,186) ( 382,329)
_______ _______
Net current assets 1,413,117 1,121,370
_______ _______
Total assets less current liabilities 1,794,152 1,455,245
Creditors: amounts falling due
after more than one year ( 17,942) ( 5,245)
Provisions for liabilities 8 ( 55,310) -
_______ _______
Net assets 1,720,900 1,450,000
_______ _______
Capital and reserves
Called up share capital 10 150 150
Profit and loss account 1,720,750 1,449,850
_______ _______
Shareholders funds 1,720,900 1,450,000
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 08 November 2023 , and are signed on behalf of the board by:
Mr R P Smith
Director
Company registration number: 6623087
RPS CONTRACTORS LIMITED
Statement of changes in equity
Year ended 31 March 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2021 150 932,731 932,881
Profit for the year 652,619 652,619
_______ _______ _______
Total comprehensive income for the year - 652,619 652,619
Dividends paid and payable ( 135,500) ( 135,500)
_______ _______ _______
Total investments by and distributions to owners - ( 135,500) ( 135,500)
_______ _______ _______
At 31 March 2022 and 1 April 2022 150 1,449,850 1,450,000
Profit for the year 435,500 435,500
_______ _______ _______
Total comprehensive income for the year - 435,500 435,500
Dividends paid and payable ( 164,600) ( 164,600)
_______ _______ _______
Total investments by and distributions to owners - ( 164,600) ( 164,600)
_______ _______ _______
At 31 March 2023 150 1,720,750 1,720,900
_______ _______ _______
RPS CONTRACTORS LIMITED
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is RPS Contractors Limited, Spring Acres, Kennel Lane, WEST GRINSTEAD, West Sussex, RH13 8LX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amount of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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 - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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 stocks to their 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. Prepaid contributions contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2022: 10 ).
5. Tax on profit
Major components of tax expense
2023 2022
£ £
Current tax:
UK current tax expense 118,809 130,636
Deferred tax:
Origination and reversal of timing differences 55,310 -
_______ _______
Tax on profit 174,119 130,636
_______ _______
Reconciliation of tax expense
2023 2022
£ £
Profit before taxation 609,619 783,255
_______ _______
Profit multiplied by rate of tax 115,828 148,818
Effect of expenses not deductible for tax purposes 23 -
Effect of capital allowances and depreciation 2,958 ( 18,182)
_______ _______
Tax on profit 118,809 130,636
_______ _______
6. Intangible assets
£
Cost
At 1 April 2022 and 31 March 2023 25,000
_______
Amortisation
At 1 April 2022 and 31 March 2023 25,000
_______
Carrying amount
At 31 March 2023 -
_______
At 31 March 2022 -
_______
7. Tangible assets
£
Cost
At 1 April 2022 599,602
Additions 185,159
Disposals ( 96,398)
_______
At 31 March 2023 688,363
_______
Depreciation
At 1 April 2022 265,727
Charge for the year 92,198
Disposals ( 50,597)
_______
At 31 March 2023 307,328
_______
Carrying amount
At 31 March 2023 381,035
_______
At 31 March 2022 333,875
_______
8. Provisions
Deferred tax (note 9) Total
£ £
At 1 April 2022 - -
Additions 55,310 55,310
_______ _______
At 31 March 2023 55,310 55,310
_______ _______
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023 2022
£ £
Included in provisions (note 8) 55,310 -
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2023 2022
£ £
Accelerated capital allowances ( 55,310) -
_______ _______
10. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary A shares shares of £ 1.00 each 100 100 100 100
Ordinary B shares shares of £ 1.00 each 50 50 50 50
_______ _______ _______ _______
150 150 150 150
_______ _______ _______ _______
11. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2023 2022
£ £
Mr R P Smith 1,633 1,633
_______ _______