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REGISTERED NUMBER: 04325816 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

RS Academics Ltd

RS Academics Ltd (Registered number: 04325816)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RS Academics Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mr V Solanki
Mr R P Speirs
Ms K M Rawlings
Ms H Styche-Patel





REGISTERED OFFICE: Reedham House
31 King Street West
Manchester
M3 2PJ





BUSINESS ADDRESS: 23 The Point
Rockingham Road
Market Harborough
Leicestershire
LE16 7QU





REGISTERED NUMBER: 04325816 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

RS Academics Ltd (Registered number: 04325816)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 25,680 24,478
Tangible assets 5 120,026 122,997
Investments 6 30,000 -
175,706 147,475

CURRENT ASSETS
Stocks 174,470 195,154
Debtors 7 515,548 336,566
Cash at bank and in hand 343,165 894,501
1,033,183 1,426,221
CREDITORS
Amounts falling due within one year 8 342,761 415,638
NET CURRENT ASSETS 690,422 1,010,583
TOTAL ASSETS LESS CURRENT
LIABILITIES

866,128

1,158,058

CREDITORS
Amounts falling due after more than one
year

9

(112,969

)

(148,377

)

PROVISIONS FOR LIABILITIES (14,522 ) (10,950 )
NET ASSETS 738,637 998,731

CAPITAL AND RESERVES
Called up share capital 715 1,000
Capital redemption reserve 285 -
Retained earnings 737,637 997,731
SHAREHOLDERS' FUNDS 738,637 998,731

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

RS Academics Ltd (Registered number: 04325816)

Balance Sheet - continued
31 July 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 27 March 2024 and were signed on its behalf by:





Mr R P Speirs - Director


RS Academics Ltd (Registered number: 04325816)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

RS Academics Ltd 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 financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are initially recorded at cost less accumulated depreciation and accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks and work in progress
Work in progress relates to the value of work completed not invoiced at year end.

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.


RS Academics Ltd (Registered number: 04325816)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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.

Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss account over the expected useful lives of the assets concerned. Other grants are credited to the profit and loss account as the related expenditure is incurred.

Going concern
The company's financial statements for the year ended 31 July 2023 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 37 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 August 2022 30,000 64,687 94,687
Additions - 15,525 15,525
At 31 July 2023 30,000 80,212 110,212
AMORTISATION
At 1 August 2022 30,000 40,209 70,209
Amortisation for year - 14,323 14,323
At 31 July 2023 30,000 54,532 84,532
NET BOOK VALUE
At 31 July 2023 - 25,680 25,680
At 31 July 2022 - 24,478 24,478

RS Academics Ltd (Registered number: 04325816)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022 106,903 22,011 56,217 185,131
Additions - 657 6,849 7,506
At 31 July 2023 106,903 22,668 63,066 192,637
DEPRECIATION
At 1 August 2022 17,548 11,534 33,052 62,134
Charge for year 2,138 1,629 6,710 10,477
At 31 July 2023 19,686 13,163 39,762 72,611
NET BOOK VALUE
At 31 July 2023 87,217 9,505 23,304 120,026
At 31 July 2022 89,355 10,477 23,165 122,997

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 30,000
At 31 July 2023 30,000
NET BOOK VALUE
At 31 July 2023 30,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 426,989 290,929
Other debtors 88,559 45,637
515,548 336,566

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 35,400 35,400
Trade creditors 86,138 92,091
Taxation and social security 182,713 202,627
Other creditors 38,510 85,520
342,761 415,638

RS Academics Ltd (Registered number: 04325816)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 112,969 148,377

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 112,969 148,377

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Between one and five years 12,311 19,346

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 148,369 183,777

12. RELATED PARTY DISCLOSURES

Included in other creditors is a balance of £10,267 (2022: £10,267), due to a pension scheme in which one of the directors is the beneficiary. This is repayable on demand and no interest is chargeable to the company in respect of this balance.

Included in other creditors is the directors' current account balance of £884 (2022: £884). This is repayable on demand and no interest is chargeable to the company in respect of this balance.