RR Executive Business Consulting Services Ltd
Registered number: 10417427
Statement of Financial Position
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 4 3,858 3,615
Current assets
Debtors 5 10,258 98,956
Cash at bank and in hand 911 4,551
11,169 103,507
Creditors: amounts falling due within one year 6 (152,765) (125,824)
Net current liabilities (141,596) (22,317)
Total assets less current liabilities (137,738) (18,702)
Creditors: amounts falling due after more than one year 7 (33,730) (40,417)
Net liabilities (171,468) (59,119)
Capital and reserves
Called up share capital 10 10
Profit and loss account (171,478) (59,129)
Shareholder's funds (171,468) (59,119)
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 member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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 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.
R Reddy
Director
Approved by the board on 11 March 2024
RR Executive Business Consulting Services Ltd
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The director considers the company to be a going concern, notwithstanding that there are losses of £171,478. They have reviewed the potential future of the company and consider that it will continue to trade profitably for the foreseeable future.
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 rendering of services. 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:
Plant and machinery 25% reducing balance
Motor vehicles over 3 years
Debtors
Short term debtors are measured at transaction 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. 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees and directors 2022 2021
Number Number
Average number of directors and persons employed by the company 1 2
3 Government grants
During the prior year, the company received government grants under the coronavirus job retention scheme. These grants are shown in the profit and loss for the period in which the related salary expenditure was incurred.

During the prior year, the company also received a business interruption payment relating to interest payable on a bounce back loan taken out in the period. The grant is shown in the the profit and loss in the period in which the related interest was incurred.
2022 2021
£ £
Grants received under the covid job retention scheme - 34,114
Business interruption payments - 1,250
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2022 8,969 23,051 32,020
Additions 1,529 - 1,529
Disposals - (23,051) (23,051)
At 31 December 2022 10,498 - 10,498
Depreciation
At 1 January 2022 5,354 23,051 28,405
Charge for the year 1,286 - 1,286
On disposals - (23,051) (23,051)
At 31 December 2022 6,640 - 6,640
Net book value
At 31 December 2022 3,858 - 3,858
At 31 December 2021 3,615 - 3,615
5 Debtors 2022 2021
£ £
Trade debtors 9,063 97,761
Other debtors 1,195 1,195
10,258 98,956
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 9,723 9,583
Trade creditors - 1,350
Accruals 1,252 1,180
Corporation tax 34,072 34,827
Other taxes and social security costs 50,902 69,161
Other creditors 56,816 9,723
152,765 125,824
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 33,730 40,417
8 Other information
RR Executive Business Consulting Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
RR Executive Business Consulting Services Ltd 10417427 false 2022-01-01 2022-12-31 2022-12-31 VT Final Accounts April 2022 R Reddy No description of principal activity 10417427 2021-01-01 2021-12-31 10417427 core:WithinOneYear 2021-12-31 10417427 core:AfterOneYear 2021-12-31 10417427 core:ShareCapital 2021-12-31 10417427 core:RetainedEarningsAccumulatedLosses 2021-12-31 10417427 2022-01-01 2022-12-31 10417427 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 10417427 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 10417427 bus:Director40 2022-01-01 2022-12-31 10417427 1 2022-01-01 2022-12-31 10417427 2 2022-01-01 2022-12-31 10417427 core:PlantMachinery 2022-01-01 2022-12-31 10417427 core:Vehicles 2022-01-01 2022-12-31 10417427 countries:England 2022-01-01 2022-12-31 10417427 bus:FRS102 2022-01-01 2022-12-31 10417427 bus:FullAccounts 2022-01-01 2022-12-31 10417427 2022-12-31 10417427 core:WithinOneYear 2022-12-31 10417427 core:AfterOneYear 2022-12-31 10417427 core:ShareCapital 2022-12-31 10417427 core:RetainedEarningsAccumulatedLosses 2022-12-31 10417427 core:PlantMachinery 2022-12-31 10417427 core:Vehicles 2022-12-31 10417427 2021-12-31 10417427 core:PlantMachinery 2021-12-31 10417427 core:Vehicles 2021-12-31 iso4217:GBP xbrli:pure