Registered number: 8895889 | ||||||||
FOR THE YEAR ENDED 28/02/2023 | ||||||||
Prepared By: | ||||||||
Greenhalgh Johnson Ltd | ||||||||
Accountants & Tax Advisers | ||||||||
Elland House | ||||||||
22 High Street | ||||||||
Burgh le Marsh | ||||||||
Lincolnshire | ||||||||
PE24 5JT |
RSG Motors Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 28/02/2023 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Lincolnshire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 8895889 | ||||||||
ACCOUNTANTS | ||||||||
Greenhalgh Johnson Ltd | ||||||||
Accountants & Tax Advisers | ||||||||
Elland House | ||||||||
22 High Street | ||||||||
Burgh le Marsh | ||||||||
Lincolnshire | ||||||||
PE24 5JT |
RSG Motors Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED28/02/2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
RSG Motors Ltd | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Cash at bank and in hand | ||||||||||
58,473 | 76,197 | |||||||||
CREDITORS: Amounts falling due within one year | 4 | |||||||||
NET CURRENT LIABILITIES | ( | (88,630) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ( | ( | ||||||||
CREDITORS: Amounts falling due after more than one year | 5 | 18,000 | 14,743 | |||||||
NET LIABILITIES | ( | ( | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 7 | |||||||||
Profit and loss account | (58,752) | (102,334) | ||||||||
SHAREHOLDERS' FUNDS | ( | ( | ||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
RSG Motors Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 28/02/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Going Concern | ||||||||
These financial statements have been prepared on the going concern basis. This may not be appropriate as the deficit on assets was £58,752 as at 28 February 2023 (2022 £102,333), however the Director continues to support the Company. |
1c. Depreciation | ||||||||
Plant and Machinery | reducing balance 25% | |||||||
Fixtures and Fittings | reducing balance 25% | |||||||
Motor Cars | reducing balance 25% |
1d. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1e. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1f. Government Grants | ||||||||
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. |
RSG Motors Ltd | ||||||||
1g. |
2. TANGIBLE FIXED ASSETS | ||||||||
Plant and | Fixtures | |||||||
Machinery | and Fittings | Motor Cars | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 01/03/2022 | 1,175 | 4,030 | 350 | 5,555 | ||||
Disposals | - | - | (350) | (350) | ||||
At 28/02/2023 | 1,175 | 4,030 | - | 5,205 | ||||
Depreciation | ||||||||
At 01/03/2022 | 761 | 3,600 | 154 | 4,515 | ||||
Disposals | - | - | (154) | (154) | ||||
For the year | 104 | 107 | - | 211 | ||||
At 28/02/2023 | 865 | 3,707 | - | 4,572 | ||||
Net Book Amounts | ||||||||
At 28/02/2023 | 633 | |||||||
At 28/02/2022 | 1,040 | |||||||
3. STOCK | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
VAT | 14,260 | - | ||||||
PAYE control | 97 | 50 | ||||||
Salaries and wages control | 1,588 | 887 | ||||||
Furlough Debtor | 2,671 | 3,379 | ||||||
Pension control | 122 | - | ||||||
Directors current account | 77,818 | 150,927 | ||||||
Bank Loan | - | 3,517 | ||||||
Credit card | - | 2,002 | ||||||
Trade creditors | 1,631 | 2,209 | ||||||
Accruals | 1,670 | 1,856 | ||||||
99,857 | 164,827 | |||||||
RSG Motors Ltd | ||||||||
5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
BBL >1yr | 18,000 | 14,743 | ||||||
18,000 | 14,743 | |||||||
6. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 2 | |||||
7. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
1 | 1 | |||||||
1 | 1 | |||||||