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Registration number: 03734071

Rexhepi Distribution Services Limited

trading as RDS Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Rexhepi Distribution Services Limited

trading as RDS Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Rexhepi Distribution Services Limited

trading as RDS Limited

Company Information

Directors

Mrs K E Rexhepi

Mr M Rexhepi

Registered office

15 Lambfields
Theale
Reading
Berkshire
RG7 5DB

Accountants

ASL Accountants
15 Millers Way
Houghton Regis
Dunstable
Bedfordshire
LU5 5FH

 

Rexhepi Distribution Services Limited

trading as RDS Limited

(Registration number: 03734071)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

2,155

3,463

Investment property

7

300,000

280,000

 

302,155

283,463

Current assets

 

Stocks

8

130,000

210,500

Debtors

9

20,756

40,088

Cash at bank and in hand

 

193,194

71,682

 

343,950

322,270

Creditors: Amounts falling due within one year

10

(131,518)

(108,655)

Net current assets

 

212,432

213,615

Total assets less current liabilities

 

514,587

497,078

Provisions for liabilities

(13,947)

(23,361)

Net assets

 

500,640

473,717

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

122,196

98,504

Retained earnings

378,344

375,113

Shareholders' funds

 

500,640

473,717

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

 

Rexhepi Distribution Services Limited

trading as RDS Limited

(Registration number: 03734071)
Balance Sheet as at 30 June 2023

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 December 2023 and signed on its behalf by:
 

.........................................
Mrs K E Rexhepi
Director

.........................................
Mr M Rexhepi
Director

 
     
 

Rexhepi Distribution Services Limited

trading as RDS Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
15 Lambfields
Theale
Reading
Berkshire
RG7 5DB
England

These financial statements were authorised for issue by the Board on 8 December 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 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 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Rexhepi Distribution Services Limited

trading as RDS Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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% on reducing balance

Office equipment

25% on cost

Fixture and Fittings

25% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss and directly transfered to non distributable reserves.

Goodwill

Goodwill has been written off in previous years.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

Rexhepi Distribution Services Limited

trading as RDS Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Trade debtors

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

Stocks

Work in progress is valued at recoverable value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

 

Rexhepi Distribution Services Limited

trading as RDS Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2022 - 16).

4

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2022
£

Current taxation

UK corporation tax

5,114

29,734

Deferred taxation

Arising from origination and reversal of timing differences

277

(5)

Tax expense in the income statement

5,391

29,729

 

Rexhepi Distribution Services Limited

trading as RDS Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2022

49,500

49,500

At 30 June 2023

49,500

49,500

Amortisation

At 1 July 2022

49,500

49,500

At 30 June 2023

49,500

49,500

Carrying amount

At 30 June 2023

-

-

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

23,683

23,683

At 30 June 2023

23,683

23,683

Depreciation

At 1 July 2022

20,220

20,220

Charge for the year

1,308

1,308

At 30 June 2023

21,528

21,528

Carrying amount

At 30 June 2023

2,155

2,155

At 30 June 2022

3,463

3,463

 

Rexhepi Distribution Services Limited

trading as RDS Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Investment properties

2023
£

At 1 July

280,000

Additions

6,000

Fair value adjustments

14,000

At 30 June

300,000

Fair value has been based on valuations as provided by an independent valuer and the directors consider no further adjustment is necessary.

8

Stocks

2023
£

2022
£

Work in progress

130,000

210,500

9

Debtors

Current

2023
£

2022
£

Trade debtors

14,297

39,945

Other debtors

6,459

143

 

20,756

40,088

 

Rexhepi Distribution Services Limited

trading as RDS Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

10

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

22,467

22,598

Social security and other taxes

 

46,810

29,020

Other payables

 

57,127

27,302

Corporation tax liability

5,114

29,735

 

131,518

108,655

11

Related party transactions

The company pays an annual rental to the directors of £9,000pa.The loans to the directors are free of interest and repayable on demand.

Transactions with directors

2023

At 1 July 2022
£

Advances to director
£

At 30 June 2023
£

Mr M Rexhepi

Advance to the director

-

3,158

3,158

       
     

Mrs K E Rexhepi

Advance to the director

-

3,158

3,158

       
     

 

 

Rexhepi Distribution Services Limited

trading as RDS Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Summary of transactions with entities with joint control or significant interest

Plango Limited
 

Loans from related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

20,000

20,000

At end of period

20,000

20,000

2022

Entities with joint control or significant influence
£

Total
£

Advanced

20,000

20,000

At end of period

20,000

20,000

Terms of loans from related parties

The loan from Plango Limited is interest free and repayable on demand