Company registration number 02517724 (England and Wales)
RLT ENGINEERING CONSULTANTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
RLT ENGINEERING CONSULTANTS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
RLT ENGINEERING CONSULTANTS LTD
BALANCE SHEET
AS AT 31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
41,259
14,247
Current assets
Stocks
60,415
47,265
Debtors
4
198,464
162,605
Cash at bank and in hand
629,289
741,518
888,168
951,388
Creditors: amounts falling due within one year
5
(85,104)
(89,940)
Net current assets
803,064
861,448
Total assets less current liabilities
844,323
875,695
Provisions for liabilities
(6,300)
-
0
Net assets
838,023
875,695
Capital and reserves
Called up share capital
6
10,001
10,001
Capital redemption reserve
20,002
20,002
Profit and loss reserves
808,020
845,692
Total equity
838,023
875,695

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 23 November 2023
Mr N  Turnbull
Director
Company Registration No. 02517724
RLT ENGINEERING CONSULTANTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information

RLT Engineering Consultants Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2 St Peter's Court, Middleborough, Colchester, Essex, CO1 1WD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax and trade discounts. For standard short term contracts, turnover is recognised when the contract is completed. For longer term contracts, fee applications are raised at stages throughout the period of the contract, and an appropriate proportion of turnover and costs are recognised.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Leasehold improvements
10% stright line
Plant and machinery
15% straight line
Computer equipment
25% straight line
Motor vehicles

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

RLT ENGINEERING CONSULTANTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

 

Financial assets comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital.

 

Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

RLT ENGINEERING CONSULTANTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
1.12

Pensions

The company operates a defined contribution pension scheme and the pension scheme charge represents the amounts payable by the company to the fund in respect of the year.

 

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
12
12
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2022
13,375
37,815
51,190
Additions
-
0
36,041
36,041
At 31 July 2023
13,375
73,856
87,231
Depreciation and impairment
At 1 August 2022
6,355
30,588
36,943
Depreciation charged in the year
1,337
7,692
9,029
At 31 July 2023
7,692
38,280
45,972
Carrying amount
At 31 July 2023
5,683
35,576
41,259
At 31 July 2022
7,020
7,227
14,247
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
114,843
74,418
Other debtors
83,621
88,187
198,464
162,605
RLT ENGINEERING CONSULTANTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
0
9,889
Taxation and social security
66,413
61,263
Other creditors
18,691
18,788
85,104
89,940
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,001
10,001
10,001
10,001
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
2,508
6,796
8
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Rent of £45,470 (2022: £44,680) was charged in respect of the property occupied by the company which is beneficially owned by the director and family members.

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