Company Registration No. 08455133 (England and Wales)
RGT TRAINING & CONSULTANCY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
RGT TRAINING & CONSULTANCY LIMITED
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
4 - 6
RGT TRAINING & CONSULTANCY LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RGT TRAINING & CONSULTANCY LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RGT Training & Consultancy Limited for the year ended 31 March 2024 set out on pages 2 to 6 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 at https://www.icaew.com/regulation.
This report is made solely to the board of directors of RGT Training & Consultancy Limited, as a body, in accordance with the terms of our engagement letter dated 19 November 2014. Our work has been undertaken solely to prepare for your approval the financial statements of RGT Training & Consultancy Limited and state those matters that we have agreed to state to the board of directors of RGT Training & Consultancy Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RGT Training & Consultancy Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that RGT Training & Consultancy 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 RGT Training & Consultancy Limited. You consider that RGT Training & Consultancy 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 RGT Training & Consultancy 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.
James Holyoak & Parker Limited
3 July 2024
Chartered Accountants
1 Knights Court
Archers Way
Battlefield Enterprise Park
Shrewsbury
SY1 3GA
RGT TRAINING & CONSULTANCY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,248
3,210
Current assets
Debtors
4
14,512
27,265
Cash at bank and in hand
185,608
153,144
200,120
180,409
Creditors: amounts falling due within one year
5
(55,385)
(48,977)
Net current assets
144,735
131,432
Net assets
146,983
134,642
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
146,883
134,542
Total equity
146,983
134,642
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 3 July 2024
Mr R G Tucker
Director
Company registration number 08455133 (England and Wales)
RGT TRAINING & CONSULTANCY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2022
100
104,373
104,473
Year ended 31 March 2023:
Profit and total comprehensive income
-
71,169
71,169
Dividends
-
(41,000)
(41,000)
Balance at 31 March 2023
100
134,542
134,642
Year ended 31 March 2024:
Profit and total comprehensive income
-
52,341
52,341
Dividends
-
(40,000)
(40,000)
Balance at 31 March 2024
100
146,883
146,983
RGT TRAINING & CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information
RGT Training & Consultancy Limited is a private company limited by shares incorporated in England and Wales. The registered office is Second Floor, 14-16 High Street, Ironbridge, Telford, Shropshire, TF8 7AD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
RGT TRAINING & CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax is not recognised, on the grounds that it is trivial in value.
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Office equipment
£
Cost
At 1 April 2023
14,148
Additions
751
At 31 March 2024
14,899
Depreciation and impairment
At 1 April 2023
10,938
Depreciation charged in the year
1,713
At 31 March 2024
12,651
Carrying amount
At 31 March 2024
2,248
At 31 March 2023
3,210
RGT TRAINING & CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
14,350
27,265
Prepayments and accrued income
162
14,512
27,265
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
14,117
16,909
Other taxation and social security
7,892
7,153
Other creditors
31,428
23,059
Accruals and deferred income
1,948
1,856
55,385
48,977
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
1,920
7,680