2 31/07/2023 2023-07-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-02-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04323752 2022-02-01 2023-07-31 04323752 2023-07-31 04323752 2022-01-31 04323752 2021-02-01 2022-01-31 04323752 2022-01-31 04323752 core:PlantMachinery 2022-02-01 2023-07-31 04323752 core:MotorVehicles 2022-02-01 2023-07-31 04323752 core:OnerousContractsExcludingVacantProperties 2022-02-01 2023-07-31 04323752 bus:RegisteredOffice 2022-02-01 2023-07-31 04323752 bus:Director1 2022-02-01 2023-07-31 04323752 bus:Director2 2022-02-01 2023-07-31 04323752 bus:CompanySecretary1 2022-02-01 2023-07-31 04323752 core:PlantMachinery 2022-01-31 04323752 core:MotorVehicles 2022-01-31 04323752 core:WithinOneYear 2023-07-31 04323752 core:WithinOneYear 2022-01-31 04323752 core:ShareCapital 2023-07-31 04323752 core:ShareCapital 2022-01-31 04323752 core:RetainedEarningsAccumulatedLosses 2023-07-31 04323752 core:RetainedEarningsAccumulatedLosses 2022-01-31 04323752 core:PlantMachinery 2022-01-31 04323752 core:MotorVehicles 2022-01-31 04323752 bus:SmallEntities 2022-02-01 2023-07-31 04323752 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-07-31 04323752 bus:FullAccounts 2022-02-01 2023-07-31 04323752 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-07-31 04323752 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-07-31 04323752 core:ComputerEquipment 2022-02-01 2023-07-31 04323752 core:ComputerEquipment 2022-01-31
Company registration number: 04323752
RGS ENGINEERING SERVICES LIMITED
Unaudited filleted financial statements
31 July 2023
RGS ENGINEERING SERVICES LIMITED
Directors and other information
Directors Christine Sibley
Austin Sibley
Secretary A J Sibley
Company number 04323752
Registered office The Grange
Yatton Keynell
Chippenham
Wiltshire
RGS ENGINEERING SERVICES LIMITED
Statement of financial position
31 July 2023
31/07/23 31/01/22
Note £ £ £ £
Fixed assets
Tangible assets 5 - 6,248
_______ _______
- 6,248
Current assets
Stocks - 250
Debtors 6 5,677 1,505
Cash at bank and in hand 21,912 38,396
_______ _______
27,589 40,151
Creditors: amounts falling due
within one year 7 ( 40,348) ( 45,053)
_______ _______
Net current liabilities ( 12,759) ( 4,902)
_______ _______
Total assets less current liabilities ( 12,759) 1,346
Provisions for liabilities - ( 1,195)
_______ _______
Net (liabilities)/assets ( 12,759) 151
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account ( 12,761) 149
_______ _______
Shareholders (deficit)/funds ( 12,759) 151
_______ _______
For the period ending 31 July 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 period 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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 October 2023 , and are signed on behalf of the board by:
Christine Sibley
Director
Company registration number: 04323752
RGS ENGINEERING SERVICES LIMITED
Notes to the financial statements
Period ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is RGS Engineering Services Limited, The Grange, Yatton Keynell, Chippenham, Wiltshire.
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 company craesed to trade 31st July 2023 and assets have been reduced to ner realisable value.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured as the fair value of the consideration received or receivable; excluding discounts, rebates, value added tax and other sales taxes.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in statement of comprehensive income.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.
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 - 20 % reducing balance
Motor vehicles - 25 % reducing balance
ICT equipment - 33.33 % straight line
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the performance model. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery Motor vehicles IT equipment Total
£ £ £ £
Cost
At 1 February 2022 66,344 3,000 4,437 73,781
Additions 574 - - 574
Disposals ( 66,918) ( 3,000) ( 4,437) ( 74,355)
_______ _______ _______ _______
At 31 July 2023 - - - -
_______ _______ _______ _______
Depreciation
At 1 February 2022 62,069 1,314 4,150 67,533
Disposals ( 62,069) ( 1,314) ( 4,150) ( 67,533)
_______ _______ _______ _______
At 31 July 2023 - - - -
_______ _______ _______ _______
Carrying amount
At 31 July 2023 - - - -
_______ _______ _______ _______
At 31 January 2022 4,275 1,686 287 6,248
_______ _______ _______ _______
6. Debtors
31/07/23 31/01/22
£ £
Trade debtors - 1,200
Other debtors 5,677 305
_______ _______
5,677 1,505
_______ _______
7. Creditors: amounts falling due within one year
31/07/23 31/01/22
£ £
Social security and other taxes - 180
Other creditors 40,348 44,873
_______ _______
40,348 45,053
_______ _______