Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30true49trueNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-07-01false40false SC291068 2022-07-01 2023-06-30 SC291068 2021-07-01 2022-06-30 SC291068 2023-06-30 SC291068 2022-06-30 SC291068 c:CompanySecretary1 2022-07-01 2023-06-30 SC291068 c:Director1 2022-07-01 2023-06-30 SC291068 c:Director3 2022-07-01 2023-06-30 SC291068 c:RegisteredOffice 2022-07-01 2023-06-30 SC291068 d:Buildings d:ShortLeaseholdAssets 2022-07-01 2023-06-30 SC291068 d:Buildings d:ShortLeaseholdAssets 2023-06-30 SC291068 d:Buildings d:ShortLeaseholdAssets 2022-06-30 SC291068 d:PlantMachinery 2022-07-01 2023-06-30 SC291068 d:PlantMachinery 2023-06-30 SC291068 d:PlantMachinery 2022-06-30 SC291068 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC291068 d:MotorVehicles 2022-07-01 2023-06-30 SC291068 d:MotorVehicles 2023-06-30 SC291068 d:MotorVehicles 2022-06-30 SC291068 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC291068 d:FurnitureFittings 2022-07-01 2023-06-30 SC291068 d:FurnitureFittings 2023-06-30 SC291068 d:FurnitureFittings 2022-06-30 SC291068 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC291068 d:OfficeEquipment 2022-07-01 2023-06-30 SC291068 d:OfficeEquipment 2023-06-30 SC291068 d:OfficeEquipment 2022-06-30 SC291068 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC291068 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 SC291068 d:CurrentFinancialInstruments 2023-06-30 SC291068 d:CurrentFinancialInstruments 2022-06-30 SC291068 d:Non-currentFinancialInstruments 2023-06-30 SC291068 d:Non-currentFinancialInstruments 2022-06-30 SC291068 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 SC291068 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 SC291068 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 SC291068 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 SC291068 d:ShareCapital 2023-06-30 SC291068 d:ShareCapital 2022-06-30 SC291068 d:RetainedEarningsAccumulatedLosses 2023-06-30 SC291068 d:RetainedEarningsAccumulatedLosses 2022-06-30 SC291068 c:OrdinaryShareClass1 2022-07-01 2023-06-30 SC291068 c:OrdinaryShareClass1 2023-06-30 SC291068 c:OrdinaryShareClass1 2022-06-30 SC291068 c:FRS102 2022-07-01 2023-06-30 SC291068 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 SC291068 c:FullAccounts 2022-07-01 2023-06-30 SC291068 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC291068 2 2022-07-01 2023-06-30 SC291068 6 2022-07-01 2023-06-30 SC291068 e:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC291068










RGS FORFAR LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

 
RGS FORFAR LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mr R G Skea 
Mrs E J Skea 




COMPANY SECRETARY
Mrs E J Skea



REGISTERED NUMBER
SC291068



REGISTERED OFFICE
Dykehead Cottage
Burnside

Forfar

Angus

DD8 2RY




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
RGS FORFAR LIMITED
REGISTERED NUMBER: SC291068

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
712,913
745,238

Investments
 5 
100
100

  
713,013
745,338

CURRENT ASSETS
  

Stocks
  
2,866,321
3,411,801

Debtors: amounts falling due within one year
 6 
1,927,025
1,706,952

Cash at bank and in hand
  
949
4,984

  
4,794,295
5,123,737

Creditors: amounts falling due within one year
 7 
(3,608,299)
(3,426,345)

NET CURRENT ASSETS
  
 
 
1,185,996
 
 
1,697,392

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,899,009
2,442,730

Creditors: amounts falling due after more than one year
 8 
(548,240)
(733,020)

PROVISIONS FOR LIABILITIES
  

Other provisions
  
(123)
(123)

  
 
 
(123)
 
 
(123)

NET ASSETS
  
1,350,646
1,709,587


CAPITAL AND RESERVES
  

Called up share capital 
 9 
100
100

Profit and loss account
  
1,350,546
1,709,487

  
1,350,646
1,709,587


Page 1

 
RGS FORFAR LIMITED
REGISTERED NUMBER: SC291068

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2024.




Mr R G Skea
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
RGS FORFAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


GENERAL INFORMATION

RGS Forfar Limited is a company limited by shares and was incorporated in Scotland.  The company number is SC291068 and its principal place of business is East Mains of Burnside, Forfar, Angus DD8 2RX.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 3

 
RGS FORFAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Property Improvements
-
2%
straight line
Plant and Machinery
-
20%
Motor Vehicles
-
25%
Fixtures and Fittings
-
20%
Office Equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

  
2.8

GOVERNMENT GRANTS

Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.
During the year the business was in receipt of the following revenue grants in relation to the COVID-19 pandemic:
Coronavirus Job Retention Scheme is recognised when receivable.  The Retail, Hospitality and Leisure Grant Fund is recognised in full when received.

Page 4

 
RGS FORFAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 40 (2022 - 49).


4.


TANGIBLE FIXED ASSETS





Property improvements
Plant and Machinery
Motor Vehicles
Fixtures & Fittings
Office Equipment
Total

£
£
£
£
£
£



COST OR VALUATION


At 1 July 2022
368,011
572,903
337,940
14,977
115,636
1,409,467


Disposals
-
(3,000)
(19,245)
-
-
(22,245)



At 30 June 2023

368,011
569,903
318,695
14,977
115,636
1,387,222



DEPRECIATION


At 1 July 2022
21,783
374,236
180,287
13,306
74,617
664,229


Charge for the year on owned assets
7,353
8,024
3,330
335
8,204
27,246


Disposals
-
(2,732)
(14,434)
-
-
(17,166)



At 30 June 2023

29,136
379,528
169,183
13,641
82,821
674,309



NET BOOK VALUE



At 30 June 2023
338,875
190,375
149,512
1,336
32,815
712,913



At 30 June 2022
346,228
198,667
157,653
1,671
41,019
745,238


5.


FIXED ASSET INVESTMENTS





Investments in Subsidiary Companies

£



COST OR VALUATION


At 1 July 2022
100



At 30 June 2023
100






NET BOOK VALUE



At 30 June 2023
100



At 30 June 2022
100

Page 5

 
RGS FORFAR LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


DEBTORS

2023
2022
£
£


Trade debtors
1,687,259
1,660,818

Other debtors
195,733
4,438

Prepayments and accrued income
44,033
41,696

1,927,025
1,706,952



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
1,712,530
1,191,134

Bank loans
101,786
101,451

Trade creditors
1,097,843
1,344,101

Other taxation and social security
406,893
448,011

Obligations under finance lease and hire purchase contracts
56,113
76,049

Other creditors
225,429
252,099

Accruals and deferred income
7,705
13,500

3,608,299
3,426,345



8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
501,690
628,691

Net obligations under finance leases and hire purchase contracts
46,550
104,329

548,240
733,020


The bank loans are secured over the assets of the company.  


9.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



Page 6