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COMPANY REGISTRATION NUMBER: 08854663
RPM Business Communications Limited
Unaudited financial statements
30 November 2023
RPM Business Communications Limited
Statement of financial position
30 November 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
5
25,061
Tangible assets
6
13,502
19,011
-------
-------
13,502
44,072
Current assets
Stocks
76,939
53,479
Debtors
7
238,800
266,388
Cash at bank and in hand
951,380
1,231,364
-----------
-----------
1,267,119
1,551,231
Creditors: Amounts falling due within one year
8
( 467,130)
( 601,652)
-----------
-----------
Net current assets
799,989
949,579
---------
---------
Total assets less current liabilities
813,491
993,651
Provisions
Taxation including deferred tax
( 3,230)
( 3,527)
---------
---------
Net assets
810,261
990,124
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
809,261
989,124
---------
---------
Shareholders funds
810,261
990,124
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
RPM Business Communications Limited
Statement of financial position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:
R Gilbert
Director
Company registration number: 08854663
RPM Business Communications Limited
Notes to the financial statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Focus House, Ham Road, Shoreham-By-Sea, England, BN43 6PA. The trading address of the company is Suite 6 Wensum Mount Business Centre, Low Road, Norwich, NR6 5AQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
Licences
-
50% reducing balance
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Equipment
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of employees during the year was 22 (2022: 23 ).
5. Intangible assets
Goodwill
Licences
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
250,667
479,000
729,667
---------
---------
---------
Amortisation
At 1 December 2022
225,606
479,000
704,606
Charge for the year
25,061
25,061
---------
---------
---------
At 30 November 2023
250,667
479,000
729,667
---------
---------
---------
Carrying amount
At 30 November 2023
---------
---------
---------
At 30 November 2022
25,061
25,061
---------
---------
---------
6. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 December 2022
1,933
87,001
88,934
Additions
3,719
3,719
------
-------
-------
At 30 November 2023
1,933
90,720
92,653
------
-------
-------
Depreciation
At 1 December 2022
1,771
68,152
69,923
Charge for the year
162
9,066
9,228
------
-------
-------
At 30 November 2023
1,933
77,218
79,151
------
-------
-------
Carrying amount
At 30 November 2023
13,502
13,502
------
-------
-------
At 30 November 2022
162
18,849
19,011
------
-------
-------
7. Debtors
2023
2022
£
£
Trade debtors
95,367
182,393
Other debtors
143,433
83,995
---------
---------
238,800
266,388
---------
---------
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
270,356
358,907
Social security and other taxes
91,420
191,391
Other creditors
105,354
51,354
---------
---------
467,130
601,652
---------
---------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
4,389
9,498
Later than 1 year and not later than 5 years
35,740
25,417
-------
-------
40,129
34,915
-------
-------