RS Sales Nottingham Limited 08735418 false 2022-02-27 2023-02-28 2023-02-28 The principal activity of the company is Sale and manufacture of motorhomes Digita Accounts Production Advanced 6.30.9574.0 true 08735418 2022-02-27 2023-02-28 08735418 2023-02-28 08735418 bus:OrdinaryShareClass1 2023-02-28 08735418 core:CurrentFinancialInstruments 2023-02-28 08735418 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 08735418 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 08735418 core:FurnitureFittingsToolsEquipment 2023-02-28 08735418 core:LandBuildings 2023-02-28 08735418 core:MotorVehicles 2023-02-28 08735418 bus:SmallEntities 2022-02-27 2023-02-28 08735418 bus:AuditExemptWithAccountantsReport 2022-02-27 2023-02-28 08735418 bus:AbridgedAccounts 2022-02-27 2023-02-28 08735418 bus:SmallCompaniesRegimeForAccounts 2022-02-27 2023-02-28 08735418 bus:RegisteredOffice 2022-02-27 2023-02-28 08735418 bus:Director1 2022-02-27 2023-02-28 08735418 bus:Director2 2022-02-27 2023-02-28 08735418 bus:OrdinaryShareClass1 2022-02-27 2023-02-28 08735418 bus:PrivateLimitedCompanyLtd 2022-02-27 2023-02-28 08735418 core:Goodwill 2022-02-27 2023-02-28 08735418 core:FurnitureFittingsToolsEquipment 2022-02-27 2023-02-28 08735418 core:LandBuildings 2022-02-27 2023-02-28 08735418 core:MotorVehicles 2022-02-27 2023-02-28 08735418 core:OfficeEquipment 2022-02-27 2023-02-28 08735418 core:PlantMachinery 2022-02-27 2023-02-28 08735418 countries:England 2022-02-27 2023-02-28 08735418 2022-02-26 08735418 core:FurnitureFittingsToolsEquipment 2022-02-26 08735418 core:LandBuildings 2022-02-26 08735418 core:MotorVehicles 2022-02-26 08735418 2021-02-27 2022-02-26 08735418 2022-02-26 08735418 bus:OrdinaryShareClass1 2022-02-26 08735418 core:CurrentFinancialInstruments 2022-02-26 08735418 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-26 08735418 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-26 08735418 core:FurnitureFittingsToolsEquipment 2022-02-26 08735418 core:LandBuildings 2022-02-26 08735418 core:MotorVehicles 2022-02-26 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08735418

RS Sales Nottingham Limited

trading as RS Motorhomes

Annual Report and Unaudited Abridged Financial Statements

for the Period from 27 February 2022 to 28 February 2023

 

RS Sales Nottingham Limited

trading as RS Motorhomes

Directors' Report for the Period from 27 February 2022 to 28 February 2023

The directors present their report and the abridged financial statements for the period from 27 February 2022 to 28 February 2023.

Directors of the company

The directors who held office during the period were as follows:

Mrs Alison Rowe

Mr Michael Rowe

Principal activity

The principal activity of the company is Sale and manufacture of motorhomes

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 24 September 2023 and signed on its behalf by:
 

.........................................
Mrs Alison Rowe
Director

.........................................
Mr Michael Rowe
Director

 

RS Sales Nottingham Limited

trading as RS Motorhomes

(Registration number: 08735418)
Abridged Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

165,327

220,443

Tangible assets

6

257,442

254,845

 

422,769

475,288

Current assets

 

Stocks

7

1,400,898

1,459,000

Debtors

8

172,544

71,051

Cash at bank and in hand

 

89,710

29,322

 

1,663,152

1,559,373

Prepayments and accrued income

 

16,327

4,245

Creditors: Amounts falling due within one year

(682,380)

(533,472)

Net current assets

 

997,099

1,030,146

Total assets less current liabilities

 

1,419,868

1,505,434

Creditors: Amounts falling due after more than one year

(1,062,246)

(1,188,375)

Accruals and deferred income

 

(326,816)

(513,455)

Net assets/(liabilities)

 

30,806

(196,396)

Capital and reserves

 

Called up share capital

9

10

10

Retained earnings

30,796

(196,406)

Shareholders' funds/(deficit)

 

30,806

(196,396)

For the financial period ending 28 February 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

RS Sales Nottingham Limited

trading as RS Motorhomes

(Registration number: 08735418)
Abridged Balance Sheet as at 28 February 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 24 September 2023 and signed on its behalf by:
 

.........................................
Mrs Alison Rowe
Director

.........................................
Mr Michael Rowe
Director

 

RS Sales Nottingham Limited

trading as RS Motorhomes

Notes to the Unaudited Abridged Financial Statements for the Period from 27 February 2022 to 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Bullhassocks Farm Pelfintax
Westwoodside
Doncaster
South Yorkshire
DN9 2EL

These financial statements were authorised for issue by the Board on 24 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

RS Sales Nottingham Limited

trading as RS Motorhomes

Notes to the Unaudited Abridged Financial Statements for the Period from 27 February 2022 to 28 February 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

14.3% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

RS Sales Nottingham Limited

trading as RS Motorhomes

Notes to the Unaudited Abridged Financial Statements for the Period from 27 February 2022 to 28 February 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

RS Sales Nottingham Limited

trading as RS Motorhomes

Notes to the Unaudited Abridged Financial Statements for the Period from 27 February 2022 to 28 February 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 20 (2022 - 20).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

22,019

36,857

Amortisation expense

55,116

55,610

5

Intangible assets

Total
£

Cost or valuation

At 27 February 2022

387,774

At 28 February 2023

387,774

Amortisation

At 27 February 2022

167,331

Amortisation charge

55,116

At 28 February 2023

222,447

Carrying amount

At 28 February 2023

165,327

At 26 February 2022

220,443

The aggregate amount of research and development expenditure recognised as an expense during the period is £- (2022 - £5,071).
 

 

RS Sales Nottingham Limited

trading as RS Motorhomes

Notes to the Unaudited Abridged Financial Statements for the Period from 27 February 2022 to 28 February 2023

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 27 February 2022

207,540

305,181

39,922

552,643

Additions

-

3,657

20,850

24,507

At 28 February 2023

207,540

308,838

60,772

577,150

Depreciation

At 27 February 2022

-

257,867

39,822

297,689

Charge for the period

-

16,782

5,237

22,019

At 28 February 2023

-

274,649

45,059

319,708

Carrying amount

At 28 February 2023

207,540

34,189

15,713

257,442

At 26 February 2022

207,540

47,305

-

254,845

Included within the net book value of land and buildings above is £207,540 (2022 - £207,540) in respect of short leasehold land and buildings.
 

7

Stocks

2023
£

2022
£

Work in progress

238,939

370,000

Other inventories

1,161,959

1,089,000

1,400,898

1,459,000

8

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

9

Share capital

Allotted, called up and fully paid shares

 

RS Sales Nottingham Limited

trading as RS Motorhomes

Notes to the Unaudited Abridged Financial Statements for the Period from 27 February 2022 to 28 February 2023

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10