Registered number
07204377
RT Industria Electrical & Mechanical Engineers Ltd
Filleted Accounts
31 May 2023
RT Industria Electrical & Mechanical Engineers Ltd
Registered number: 07204377
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 24,498 26,127
Current assets
Debtors 4 5,644 6,045
Cash at bank and in hand 16,668 55,740
22,312 61,785
Creditors: amounts falling due within one year 5 (18,737) (44,497)
Net current assets 3,575 17,288
Total assets less current liabilities 28,073 43,415
Creditors: amounts falling due after more than one year 6 (17,075) (20,222)
Provisions for liabilities (4,655) (4,964)
Net assets 6,343 18,229
Capital and reserves
Called up share capital 1 1
Profit and loss account 6,342 18,228
Shareholders' funds 6,343 18,229
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J R Fisher
Director
Approved by the board on 31 January 2024
RT Industria Electrical & Mechanical Engineers Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% Reducing Balance
Fixtures, fittings, tools and equipment 25% Reducing Balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 20,329 29,260 49,589
Additions 6,678 - 6,678
Disposals (141) - (141)
At 31 May 2023 26,866 29,260 56,126
Depreciation
At 1 June 2022 16,147 7,315 23,462
Charge for the year 2,680 5,486 8,166
At 31 May 2023 18,827 12,801 31,628
Net book value
At 31 May 2023 8,039 16,459 24,498
At 31 May 2022 4,182 21,945 26,127
4 Debtors 2023 2022
£ £
Other debtors 5,644 6,045
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,849 4,333
Trade creditors 1,096 36,354
Taxation and social security costs 2,573 2,101
Other creditors 11,219 1,709
18,737 44,497
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 17,075 20,222
7 Controlling party
J R Fisher was the ultimate controlling party for the period
8 Other information
RT Industria Electrical & Mechanical Engineers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Poplars Court
Lenton Lane
Nottingham
NG7 2RR
12 Poplars Court
Lenton Lane
Nottingham
NG7 2RR
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