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REGISTERED NUMBER: 09635082 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Remac (Midlands) Limited

Remac (Midlands) Limited (Registered number: 09635082)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Remac (Midlands) Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: B F Rousseau
S B Rousseau





REGISTERED OFFICE: Rothley House
Coalville Business Park
Jackson Street
Coalville
Leicestershire
LE67 3NR





REGISTERED NUMBER: 09635082 (England and Wales)





ACCOUNTANTS: Thorpefields Accountants Limited
The Manor House
1028 Melton Road
Syston
Leicester
LE7 2NN

Remac (Midlands) Limited (Registered number: 09635082)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,060,214 1,081,613

CURRENT ASSETS
Stocks 30,415 10,135
Debtors 5 1,365,406 1,271,518
Cash at bank and in hand 65,460 122,927
1,461,281 1,404,580
CREDITORS
Amounts falling due within one year 6 1,025,213 980,955
NET CURRENT ASSETS 436,068 423,625
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,496,282

1,505,238

CREDITORS
Amounts falling due after more than one
year

7

(345,987

)

(456,911

)

PROVISIONS FOR LIABILITIES (55,484 ) (24,119 )
NET ASSETS 1,094,811 1,024,208

CAPITAL AND RESERVES
Called up share capital 9 300 300
Retained earnings 1,094,511 1,023,908
SHAREHOLDERS' FUNDS 1,094,811 1,024,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Remac (Midlands) Limited (Registered number: 09635082)

Balance Sheet - continued
30 June 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2024 and were signed on its behalf by:





B F Rousseau - Director


Remac (Midlands) Limited (Registered number: 09635082)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Remac (Midlands) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These accounts have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The director has decided to adopt the provisions of FRS102 Section 1A before the mandatory date of 1 January 2016.

The nature of the company's operations and principle activities are that of quarry maintenance and fabrication.

The financial statements are provided in sterling which is the functional currency and rounded to the nearest pound (£).

The significant accounting policies applied in the preparation of these financial statements are set out below.These policies have been consistently to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Remac (Midlands) Limited (Registered number: 09635082)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 1,061,688 13,828 124,362 12,745 1,212,623
Additions 42,650 - 3,000 623 46,273
Disposals - - (13,000 ) - (13,000 )
At 30 June 2023 1,104,338 13,828 114,362 13,368 1,245,896
DEPRECIATION
At 1 July 2022 58,606 9,274 54,710 8,420 131,010
Charge for year 39,131 908 15,718 2,165 57,922
Eliminated on disposal - - (3,250 ) - (3,250 )
At 30 June 2023 97,737 10,182 67,178 10,585 185,682
NET BOOK VALUE
At 30 June 2023 1,006,601 3,646 47,184 2,783 1,060,214
At 30 June 2022 1,003,082 4,554 69,652 4,325 1,081,613

Remac (Midlands) Limited (Registered number: 09635082)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 July 2022
and 30 June 2023 95,000
DEPRECIATION
At 1 July 2022 6,335
Charge for year 17,733
At 30 June 2023 24,068
NET BOOK VALUE
At 30 June 2023 70,932
At 30 June 2022 88,665

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 803,641 754,689
Other debtors 561,765 516,829
1,365,406 1,271,518

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 170,785 159,461
Hire purchase contracts 21,881 19,403
Trade creditors 732,599 667,788
Taxation and social security 55,197 24,774
Other creditors 44,751 109,529
1,025,213 980,955

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 301,734 390,777
Hire purchase contracts 44,253 66,134
345,987 456,911

Remac (Midlands) Limited (Registered number: 09635082)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 472,519 550,238
Debt factoring loans (secured) 38,882 91,835
Hire purchase contracts 66,134 85,537
577,535 727,610

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
300 Ordinary 1 300 300

10. OTHER FINANCIAL COMMITMENTS

Total minimum lease payments under operating leases are £7,155 (2022: £10,530).