Registered number
06561092
RS Air Conditioning Services Limited
Filleted Accounts
30 April 2024
RS Air Conditioning Services Limited
Registered number: 06561092
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 133,991 53,588
133,991 53,588
Current assets
Stocks 1,953 1,730
Debtors 4 425,949 277,695
Cash at bank and in hand 34,867 29,599
462,769 309,024
Creditors: amounts falling due within one year 5 (370,197) (202,685)
Net current assets 92,572 106,339
Total assets less current liabilities 226,563 159,927
Creditors: amounts falling due after more than one year 6 (99,730) (35,459)
Provisions for liabilities (32,158) (12,722)
Net assets 94,675 111,746
Capital and reserves
Called up share capital 1 1
Profit and loss account 94,674 111,745
Shareholders' funds 94,675 111,746
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.
Mr R Tysoe
Director
Approved by the board on 8 August 2024
RS Air Conditioning Services Limited
Notes to the Accounts
for the year ended 30 April 2024
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:
Fixtures & fittings 25% and 33% reducing balance
Plant & machinery 15% reducing balance
Motor vehicles 15% reducing balance
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Interest income
Interest income is recognised in the profit and loss using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 10
3 Tangible fixed assets
Fixtures and fittings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 20,702 14,758 87,622 123,082
Additions 102 4,723 120,878 125,703
Disposals (833) - (63,975) (64,808)
At 30 April 2024 19,971 19,481 144,525 183,977
Depreciation
At 1 May 2023 16,403 11,643 41,448 69,494
Charge for the year 1,420 644 14,247 16,311
On disposals (803) - (35,016) (35,819)
At 30 April 2024 17,020 12,287 20,679 49,986
Net book value
At 30 April 2024 2,951 7,194 123,846 133,991
At 30 April 2023 4,299 3,115 46,174 53,588
4 Debtors 2024 2023
£ £
Trade debtors 245,911 99,640
Amounts owed by group undertakings and undertakings in which the company has a participating interest 125,801 125,801
Other debtors 54,237 52,254
425,949 277,695
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 21,139 20,978
Obligations under finance lease and hire purchase contracts 22,211 13,445
Trade creditors 276,938 105,049
Taxation and social security costs 44,050 53,811
Other creditors 5,859 9,402
370,197 202,685
Obligations under finance lease and hire purchase contracts of £22,211 (2023: £13,445), due within one year, are secured by the company.
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,420 33,559
Obligations under finance lease and hire purchase contracts 87,310 1,900
99,730 35,459
Obligations under finance lease and hire purchase contracts of £87,310 (2023: £1,900), due after more than one year, are secured by the company.
7 Pension commitments
The company contributes to a defined contribution scheme for its employees. At the balance sheet date there were outstanding contributions of £1,734 (2023: £1,552). This amount is included within other creditors.
8 Related party transactions
The company was under the control of its holding company RS Group Holdings Limited during the current and previous year.
An amount of £125,801 (2023: £125,801) was owed from RS Group Holdings Limited at the end of the year.
9 Other information
RS Air Conditioning Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
42 Tyndall Court
Commerce Road
Lynch Wood
Peterborough
PE2 6LR
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