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REGISTERED NUMBER: 03028047















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

R & D VENTILATION SYSTEMS LTD

R & D VENTILATION SYSTEMS LTD (REGISTERED NUMBER: 03028047)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R & D VENTILATION SYSTEMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: N Randall



SECRETARY: N Randall



REGISTERED OFFICE: Neath Abbey Industrial Estate
Neath Abbey
Neath
West Glamorgan
SA10 7DR



REGISTERED NUMBER: 03028047



ACCOUNTANTS: Roger Byers & Co. Limited
Castle Buildings
23 Church Place
Neath
SA11 3LP



BANKERS: Barclays Bank Plc.,
New Road,
Skewen,
NEATH

R & D VENTILATION SYSTEMS LTD (REGISTERED NUMBER: 03028047)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 2 2
Tangible assets 5 1,665 1,850
1,667 1,852

CURRENT ASSETS
Debtors 6 62,039 90,344
Cash at bank 247,038 214,911
309,077 305,255
CREDITORS
Amounts falling due within one year 7 (51,617 ) (63,782 )
NET CURRENT ASSETS 257,460 241,473
TOTAL ASSETS LESS CURRENT
LIABILITIES

259,127

243,325

CAPITAL AND RESERVES
Called up share capital 8 99 99
Retained earnings 259,028 243,226
SHAREHOLDERS' FUNDS 259,127 243,325

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

R & D VENTILATION SYSTEMS LTD (REGISTERED NUMBER: 03028047)

BALANCE SHEET - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 February 2024 and were signed by:





N Randall - Director


R & D VENTILATION SYSTEMS LTD (REGISTERED NUMBER: 03028047)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

R & D Ventilation Systems Ltd is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1998, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

R & D VENTILATION SYSTEMS LTD (REGISTERED NUMBER: 03028047)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 6,742
AMORTISATION
At 1 June 2022
and 31 May 2023 6,740
NET BOOK VALUE
At 31 May 2023 2
At 31 May 2022 2

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 8,231
DEPRECIATION
At 1 June 2022 6,381
Charge for year 185
At 31 May 2023 6,566
NET BOOK VALUE
At 31 May 2023 1,665
At 31 May 2022 1,850

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,142 34,511
Other debtors 55,897 55,833
62,039 90,344

R & D VENTILATION SYSTEMS LTD (REGISTERED NUMBER: 03028047)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 40,309 50,178
Taxation and social security 3,750 6,071
Other creditors 7,558 7,533
51,617 63,782

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
99 Ordinary Shares £1 99 99