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Registered number: 04793814
Reliable Maintenance Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Tasker Osman & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04793814
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 150,493 61,495
150,493 61,495
CURRENT ASSETS
Stocks 5 53,858 61,413
Debtors 6 133,508 125,854
Cash at bank and in hand 29,597 59,816
216,963 247,083
Creditors: Amounts Falling Due Within One Year 7 (125,188 ) (97,754 )
NET CURRENT ASSETS (LIABILITIES) 91,775 149,329
TOTAL ASSETS LESS CURRENT LIABILITIES 242,268 210,824
NET ASSETS 242,268 210,824
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 242,168 210,724
SHAREHOLDERS' FUNDS 242,268 210,824
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Rick Martin
Director
16/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Reliable Maintenance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04793814 . The registered office is Unit 2 , 176 London Road, Burgess, West Sussex, RH15 8LS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25
Motor Vehicles 25
Fixtures & Fittings 25
Computer Equipment 25
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 94,978 173,434 15,925 41,098 325,435
Additions 3,750 129,572 - - 133,322
Disposals - (128,222 ) - - (128,222 )
As at 30 June 2024 98,728 174,784 15,925 41,098 330,535
Depreciation
As at 1 July 2023 83,774 133,605 14,130 32,431 263,940
Provided during the period 3,738 16,506 449 2,167 22,860
Disposals - (106,758 ) - - (106,758 )
As at 30 June 2024 87,512 43,353 14,579 34,598 180,042
Net Book Value
As at 30 June 2024 11,216 131,431 1,346 6,500 150,493
As at 1 July 2023 11,204 39,829 1,795 8,667 61,495
5. Stocks
2024 2023
£ £
Materials 3,890 4,880
Work in progress 49,968 56,533
53,858 61,413
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 81,866 111,907
Prepayments and accrued income 5,783 5,614
Other debtors 45,859 8,333
133,508 125,854
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 22,323 17,436
Corporation tax - 9,391
Other taxes and social security 6,304 8,474
VAT 47,928 57,143
Accruals and deferred income 1,800 1,800
Directors' loan accounts 46,833 3,510
125,188 97,754
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5