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REGISTERED NUMBER: 04691419 (England and Wales)














R P S Construction Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






R P S Construction Limited (Registered number: 04691419)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 9


R P S Construction Limited

Company Information
for the Year Ended 31 March 2024







Director: Ms M Peace





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: Kingston Lodge
Jekils Gate
Holbeach Fen
Spalding
Lincolnshire
PE12 8QS





Registered number: 04691419 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
R P S Construction Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Director's report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R P S Construction Limited for the year ended 31 March 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of R P S Construction Limited in accordance with the terms of our engagement letter dated 27 November 2018. Our work has been undertaken solely to prepare for your approval the financial statements of R P S Construction Limited and state those matters that we have agreed to state to the director of R P S Construction Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R P S Construction Limited and its director for our work or for this report.

It is your duty to ensure that R P S Construction Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R P S Construction Limited. You consider that R P S Construction Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of R P S Construction Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


9 August 2024

R P S Construction Limited (Registered number: 04691419)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 273,271 277,704
Investment property 6 15,800,000 6,939,735
16,073,271 7,217,439

Current assets
Debtors 7 238,469 151,214
Cash at bank and in hand 1,623,909 1,787,738
1,862,378 1,938,952
Creditors
Amounts falling due within one year 8 773,201 1,037,172
Net current assets 1,089,177 901,780
Total assets less current liabilities 17,162,448 8,119,219

Creditors
Amounts falling due after more than one
year

9

(1,480,506

)

(1,774,663

)

Provisions for liabilities 10 (2,461,510 ) (282,221 )
Net assets 13,220,432 6,062,335

Capital and reserves
Called up share capital 11 100 100
Undistributable reserves 12 7,614,610 933,140
Retained earnings 12 5,605,722 5,129,095
Shareholders' funds 13,220,432 6,062,335

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

R P S Construction Limited (Registered number: 04691419)

Statement of Financial Position - continued
31 March 2024


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 director and authorised for issue on 9 August 2024 and were signed by:





Ms M Peace - Director


R P S Construction Limited (Registered number: 04691419)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statutory information

R P S Construction 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 on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - not depreciated
Plant and machinery - 20% on reducing balance
Fixtures and office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property
Investment properties are initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment properties are revalued to their fair value at each reporting date and any changes in fair value are recongised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment properties, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.


R P S Construction Limited (Registered number: 04691419)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rage ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment test, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or group of assets.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

R P S Construction Limited (Registered number: 04691419)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

5. Tangible fixed assets
Fixtures
and
Land and Plant and office Motor
buildings machinery equipment vehicles Totals
£    £    £    £    £   
Cost
At 1 April 2023 238,128 4,759 7,686 44,500 295,073
Additions - - - 7,232 7,232
Disposals - (810 ) (181 ) - (991 )
At 31 March 2024 238,128 3,949 7,505 51,732 301,314
Depreciation
At 1 April 2023 - 2,947 3,992 10,430 17,369
Charge for year - 259 552 10,325 11,136
Eliminated on disposal - (291 ) (171 ) - (462 )
At 31 March 2024 - 2,915 4,373 20,755 28,043
Net book value
At 31 March 2024 238,128 1,034 3,132 30,977 273,271
At 31 March 2023 238,128 1,812 3,694 34,070 277,704

6. Investment property
Total
£   
Fair value
At 1 April 2023 6,939,735
Revaluations 8,860,265
At 31 March 2024 15,800,000
Net book value
At 31 March 2024 15,800,000
At 31 March 2023 6,939,735

During the year ended 31 March 2024 the investment properties have been revalued to fair value by the shareholder. The original cost of the properties was £6,006,595.

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 214,907 129,585
Prepayments and accrued income 23,562 21,629
238,469 151,214

R P S Construction Limited (Registered number: 04691419)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 299,106 304,998
Trade creditors 708 159
Corporation tax 171,393 177,733
Social security and other taxes 45,821 83,035
Other creditors 7,046 221,699
Accruals and deferred income 249,127 249,548
773,201 1,037,172

Bank loans are secured on the property they relate to.

9. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans and overdrafts 1,480,506 1,774,663

Bank loans are secured on the property they relate to.

Included within creditors: amounts falling due after more than one year is an amount of £404,746 (2022 - £814,742) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

10. Provisions for liabilities
2024 2023
£    £   
Deferred tax 2,461,510 282,221

Deferred
tax
£   
Balance at 1 April 2023 282,221
Provided during year 2,179,289
Included in provision
Balance at 31 March 2024 2,461,510

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100

R P S Construction Limited (Registered number: 04691419)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


12. Reserves
Retained Undistributable
earnings reserves Totals
£    £    £   

At 1 April 2023 5,129,095 933,140 6,062,235
Profit for the year 7,198,097 7,198,097
Dividends (40,000 ) (40,000 )
Transfer between reserves (6,681,470 ) 6,681,470 -
At 31 March 2024 5,605,722 7,614,610 13,220,332

13. Related party disclosures

Included in other creditors as at 31 March 2024, is an amount owed to the shareholder from the company of £6,070 (2023- £229,767), this being an interest free loan.