Retail Advertising Services Ltd
Registered number: 08368868
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 158,866 165,872
Current assets
Stocks 170,816 39,622
Debtors 4 371,313 257,570
Cash at bank and in hand 100,271 168,283
642,400 465,475
Creditors: amounts falling due within one year 5 (267,099) (190,626)
Net current assets 375,301 274,849
Total assets less current liabilities 534,167 440,721
Creditors: amounts falling due after more than one year 6 (79,984) (122,830)
Provisions for liabilities (16,500) (14,825)
Net assets 437,683 303,066
Capital and reserves
Called up share capital 843 843
Profit and loss account 436,840 302,223
Shareholders' funds 437,683 303,066
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Watson
Director
Approved by the board on 10 April 2024
Retail Advertising Services Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
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
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 10
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 410,544
Additions 12,635
At 31 December 2023 423,179
Depreciation
At 1 January 2023 244,672
Charge for the year 19,641
At 31 December 2023 264,313
Net book value
At 31 December 2023 158,866
At 31 December 2022 165,872
4 Debtors 2023 2022
£ £
Trade debtors 303,869 238,916
Other debtors 67,444 18,654
371,313 257,570
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 22,375 22,115
Obligations under finance lease and hire purchase contracts 22,485 20,886
Trade creditors 147,984 95,459
Corporation tax 67,775 35,111
Other taxes and social security costs 5,051 15,953
Other creditors 1,429 1,102
267,099 190,626
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 29,327 49,574
Obligations under finance lease and hire purchase contracts 24,458 47,057
Due to group undertakings 26,199 26,199
79,984 122,830
7 Controlling party
The company is controlled by Wabco HoIdings Limited a company incorporated in EngIand & WaIes registered number 1185113 by reason of their shareholding.
8 Other information
Retail Advertising Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2 Appin Road, Birkenhead, Merseyside, CH41 9HH
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