2022-04-012023-09-302023-09-30false05947559R BIZ SOLUTIONS 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R BIZ SOLUTIONS LTD

Registered Number
05947559
(England and Wales)

Unaudited Financial Statements for the Period ended
30 September 2023

R BIZ SOLUTIONS LTD
Company Information
for the period from 1 April 2022 to 30 September 2023

Director

Mr Andrew Leonard Hempsall

Registered Address

Unit 14 Witham Point Wavell Drive
Allenby Industrial Estate
Lincoln
LN3 4PL

Place of Business

Unit 14 Witham Point Wavell Drive

Allenby Industrial Estate

Lincoln

LN3 4PL


Registered Number

05947559 (England and Wales)
R BIZ SOLUTIONS LTD
Balance Sheet as at
30 September 2023

Notes

30 Sep 2023

31 Mar 2022

£

£

£

£

Fixed assets
Tangible assets7-32,896
-32,896
Current assets
Debtors956,5791,164,266
Cash at bank and on hand248,899752,033
305,4781,916,299
Creditors amounts falling due within one year10(13,124)(1,556,825)
Net current assets (liabilities)292,354359,474
Total assets less current liabilities292,354392,370
Provisions for liabilities11-(6,250)
Net assets292,354386,120
Capital and reserves
Called up share capital100100
Other reserves100100
Profit and loss account292,154385,920
Shareholders' funds292,354386,120
The financial statements were approved and authorised for issue by the Director on 16 February 2024, and are signed on its behalf by:
Mr Andrew Leonard Hempsall
Director
Registered Company No. 05947559
R BIZ SOLUTIONS LTD
Notes to the Financial Statements
for the period ended 30 September 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity is shop fitters.
4.Basis of measurement used in financial statements
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).
5.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Revenue recognition policy
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.
Taxation policy
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 policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
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.
6.Employee information

20232022
Average number of employees during the year68
7.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 225,39660,76715,38481,547
Additions--545545
Disposals(5,396)(60,767)(15,929)(82,092)
Depreciation and impairment
At 01 April 224,58135,6648,40648,651
Charge for year8154,2877,52312,625
On disposals(5,396)(39,951)(15,929)(61,276)
Net book value
At 30 September 23----
At 31 March 2281525,1036,97832,896
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Mr Andrew Leonard Hempsall57,5355,9658,15055,350
57,5355,9658,15055,350
Interest was charged by the company at market rate.
9.Debtors

2023

2022

££
Trade debtors / trade receivables-553,898
Other debtors56,579589,492
Prepayments and accrued income-20,876
Total56,5791,164,266
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.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables-510,085
Taxation and social security3,867144,963
Accrued liabilities and deferred income9,257901,777
Total13,1241,556,825
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.
11.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)-6,250
Total-6,250