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REGISTERED NUMBER: 02164369 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

R.M.D. Contracts Limited

R.M.D. Contracts Limited (Registered number: 02164369)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


R.M.D. Contracts Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P Robinson
P J Robinson
J J Loton





SECRETARY: Mrs D M Robinson





REGISTERED OFFICE: Unit 4
Broadway Industrial Estate
Outram Road
Dukinfield
Cheshire
SK16 4XE





REGISTERED NUMBER: 02164369 (England and Wales)





ACCOUNTANTS: Lomas and Company Accountants Limited
Bridge House
12 Market Street
Glossop
Derbyshire
SK13 8AR

R.M.D. Contracts Limited (Registered number: 02164369)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 248,597 186,390
Investments 6 1,000 1,000
249,597 187,390

CURRENT ASSETS
Stocks 15,000 8,500
Debtors 7 4,484,624 4,429,728
Cash at bank and in hand 739,636 902,352
5,239,260 5,340,580
CREDITORS
Amounts falling due within one year 8 2,054,842 1,041,849
NET CURRENT ASSETS 3,184,418 4,298,731
TOTAL ASSETS LESS CURRENT LIABILITIES 3,434,015 4,486,121

CREDITORS
Amounts falling due after more than one year 9 (485,378 ) (654,296 )

PROVISIONS FOR LIABILITIES (44,716 ) (35,198 )
NET ASSETS 2,903,921 3,796,627

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,903,919 3,796,625
SHAREHOLDERS' FUNDS 2,903,921 3,796,627

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





P J Robinson - Director


R.M.D. Contracts Limited (Registered number: 02164369)

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

1. STATUTORY INFORMATION

R.M.D. Contracts 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Income recognition represents the turnover attributable for contract activity during the year, exclusive of VAT. This is measured on an accruals basis, attributing the revenue to the period in which the service was performed, where activity overlaps the year end.

Profit on long term contracts is taken as the work is carried out, if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of work carried out by the year end by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract revenue which costs incurred to date bear to total expected costs for that contract. Revenue derived from variations on contracts is only recognised when they have been accepted by customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Investments in subsidiaries
Investment in subsidiaries and associated undertakings are accounted for at cost less impairment.

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

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


R.M.D. Contracts Limited (Registered number: 02164369)

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

3. 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.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over th 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 37 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 21,031 11,516 407,589 67,155 507,291
Additions - - 156,396 7,208 163,604
Disposals - - (57,107 ) - (57,107 )
At 31 December 2023 21,031 11,516 506,878 74,363 613,788
DEPRECIATION
At 1 January 2023 18,031 8,629 242,312 51,929 320,901
Charge for year 600 433 76,237 7,403 84,673
Eliminated on disposal - - (40,383 ) - (40,383 )
At 31 December 2023 18,631 9,062 278,166 59,332 365,191
NET BOOK VALUE
At 31 December 2023 2,400 2,454 228,712 15,031 248,597
At 31 December 2022 3,000 2,887 165,277 15,226 186,390

Included above are fixed assets subject to hire purchase contracts whose net book value is £202,886 (2022 - £136,233).

R.M.D. Contracts Limited (Registered number: 02164369)

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

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1,000
NET BOOK VALUE
At 31 December 2023 1,000
At 31 December 2022 1,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,894,364 1,110,829
Amounts owed by group undertakings 1,942,090 2,749,141
Amount recoverable on contracts 602,773 501,275
Other debtors 45,397 21,799
Tax - 28,617
VAT - 16,839
Prepayments - 1,228
4,484,624 4,429,728

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 250,008 250,008
Hire purchase contracts 58,780 64,240
Trade creditors 1,494,409 587,278
Tax 91,165 14,874
Social security and other taxes 103,523 77,958
VAT 24,549 -
Other creditors 838 920
Accrued expenses 31,570 46,571
2,054,842 1,041,849

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 250,008 250,008
Bank loans - 2-5 years 104,130 354,138
Hire purchase contracts 131,240 50,150
485,378 654,296

R.M.D. Contracts Limited (Registered number: 02164369)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 604,146 854,154
Hire purchase contracts 190,020 114,390
794,166 968,544

Bank borrowings are secured by a fixed and floating charge over the assets of the company dated 12 July 2012 in favour of National Westminster Bank PLC.

Hire purchase liabilities are secured on the assets financed.

11. ULTIMATE CONTROLLING PARTY

The directors regard R.M.D. Holdings Limited, a company incorporated in England and Wales, as being the company's ultimate parent undertaking and controlling party.

The registered office of R.M.D.Holdings Limited is Unit 4, Broadway Industrial Estate, Outram Road, Dukinfield, Cheshire SK16 4XE.