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Registered number: 13642562
Remote Accounting Services Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13642562
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,000 6,000
Tangible Assets 5 8,487 9,198
14,487 15,198
CURRENT ASSETS
Stocks 6 8,103 -
Debtors 7 10,198 22,226
Cash at bank and in hand 9,277 1,908
27,578 24,134
Creditors: Amounts Falling Due Within One Year 8 (21,660 ) (48,827 )
NET CURRENT ASSETS (LIABILITIES) 5,918 (24,693 )
TOTAL ASSETS LESS CURRENT LIABILITIES 20,405 (9,495 )
Creditors: Amounts Falling Due After More Than One Year 9 (8,718 ) (23,925 )
NET ASSETS/(LIABILITIES) 11,687 (33,420 )
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 11,587 (33,520 )
SHAREHOLDERS' FUNDS 11,687 (33,420)
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Luke Martin
Director
08/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Remote Accounting Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13642562 . The registered office is 7 Park Row, Leeds, LS1 5HD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 1)
3 1
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4. Intangible Assets
Development Costs
£
Cost
As at 1 April 2023 6,000
As at 31 March 2024 6,000
Net Book Value
As at 31 March 2024 6,000
As at 1 April 2023 6,000
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 4,000 802 5,604 10,406
Additions - - 2,580 2,580
Disposals - - (1,450 ) (1,450 )
As at 31 March 2024 4,000 802 6,734 11,536
Depreciation
As at 1 April 2023 200 120 888 1,208
Provided during the period 760 161 1,210 2,131
Disposals - - (290 ) (290 )
As at 31 March 2024 960 281 1,808 3,049
Net Book Value
As at 31 March 2024 3,040 521 4,926 8,487
As at 1 April 2023 3,800 682 4,716 9,198
6. Stocks
2024 2023
£ £
Work in progress 8,103 -
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 790 651
Prepayments and accrued income 2,783 16,100
VAT - 5,475
Amounts owed by related parties 6,625 -
10,198 22,226
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 4,644
Trade creditors 5,718 99
Bank loans and overdrafts 2,552 5,197
VAT 1,099 -
Net wages 1,048 -
Credit cards 235 5,688
Accruals and deferred income 2,880 6,108
Director's loan account 8,128 8,941
Amounts owed to related parties - 18,150
21,660 48,827
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 10,836
Bank loans 8,718 13,089
8,718 23,925
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 4,644
Later than one year and not later than five years - 10,836
- 15,480
- 15,480
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Related Party Transactions
At the year-end,  the Company owed the Directors £8,127.50 (2023: £8,941.08). This balance is included within Creditors. This loan is interest free and repayable upon demand.
At the year-end,  Remote (Group) UK Holdings Ltd owed Remote Accounting Services Ltd £6,625.00 (2023: -£18,150.00). This balance is included within Debtors. This loan is interest free and repayable upon demand.
13. Ultimate Controlling Party
The company's ultimate controlling party is Remote (Group) UK Holdings Ltd by virtue of the ownership of 100% of the issued share capital in the company.
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