2022-08-012023-07-312023-07-31false11471289RMC MOTORWORKS 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RMC MOTORWORKS LIMITED

Registered Number
11471289
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

RMC MOTORWORKS LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

MARTIN-WELLS, Ryan

Registered Address

Unit 15 Home Farm Rad Lane
Abinger Hammer
Dorking
RH5 6RA

Registered Number

11471289 (England and Wales)
RMC MOTORWORKS LIMITED
Statement of Financial Position
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3589529
589529
Current assets
Debtors411,06416,328
Cash at bank and on hand10,016-
21,08016,328
Creditors amounts falling due within one year5(17,918)(5,715)
Net current assets (liabilities)3,16210,613
Total assets less current liabilities3,75111,142
Creditors amounts falling due after one year6(5,211)(8,151)
Net assets(1,460)2,991
Capital and reserves
Called up share capital100100
Profit and loss account(1,560)2,891
Shareholders' funds(1,460)2,991
The financial statements were approved and authorised for issue by the Director on 11 April 2024, and are signed on its behalf by:
MARTIN-WELLS, Ryan
Director
Registered Company No. 11471289
RMC MOTORWORKS LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
2.Average number of employees

20232022
Average number of employees during the year21
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 August 221,672
Additions225
At 31 July 231,897
Depreciation and impairment
At 01 August 221,143
Charge for year165
At 31 July 231,308
Net book value
At 31 July 23589
At 31 July 22529
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables11,0351,875
Other debtors-14,453
Prepayments and accrued income29-
Total11,06416,328
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,079-
Bank borrowings and overdrafts2,9402,940
Taxation and social security6,743-
Other creditors6,1561,709
Accrued liabilities and deferred income1,0001,066
Total17,9185,715
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts5,2118,151
Total5,2118,151
7.Related party transactions
Loans to directors Brought Forward Advance/Credit Repaid Carried Forward R M Wells Directors Loan Account £14,454 NIL £14,454 NIL