2023-04-012024-03-312024-03-31false04547830R-TECH SERVICES LTD2024-08-0971200iso4217:GBPxbrli:pure045478302023-04-01045478302024-03-31045478302023-04-012024-03-31045478302022-04-01045478302023-03-31045478302022-04-012023-03-3104547830bus:SmallEntities2023-04-012024-03-3104547830bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3104547830bus:AbridgedAccounts2023-04-012024-03-3104547830bus:PrivateLimitedCompanyLtd2023-04-012024-03-3104547830core:WithinOneYear2024-03-3104547830core:AfterOneYear2024-03-3104547830core:WithinOneYear2023-03-3104547830core:AfterOneYear2023-03-3104547830core:ShareCapital2024-03-3104547830core:SharePremium2024-03-3104547830core:RevaluationReserve2024-03-3104547830core:OtherReservesSubtotal2024-03-3104547830core:RetainedEarningsAccumulatedLosses2024-03-3104547830core:ShareCapital2023-03-3104547830core:SharePremium2023-03-3104547830core:RevaluationReserve2023-03-3104547830core:OtherReservesSubtotal2023-03-3104547830core:RetainedEarningsAccumulatedLosses2023-03-3104547830core:LandBuildings2024-03-3104547830core:PlantMachinery2024-03-3104547830core:Vehicles2024-03-3104547830core:FurnitureFittings2024-03-3104547830core:OfficeEquipment2024-03-3104547830core:NetGoodwill2024-03-3104547830core:IntangibleAssetsOtherThanGoodwill2024-03-3104547830core:ListedExchangeTraded2024-03-3104547830core:UnlistedNon-exchangeTraded2024-03-3104547830core:LandBuildings2023-03-3104547830core:PlantMachinery2023-03-3104547830core:Vehicles2023-03-3104547830core:FurnitureFittings2023-03-3104547830core:OfficeEquipment2023-03-3104547830core:NetGoodwill2023-03-3104547830core:IntangibleAssetsOtherThanGoodwill2023-03-3104547830core:ListedExchangeTraded2023-03-3104547830core:UnlistedNon-exchangeTraded2023-03-3104547830core:LandBuildings2023-04-012024-03-3104547830core:PlantMachinery2023-04-012024-03-3104547830core:Vehicles2023-04-012024-03-3104547830core:FurnitureFittings2023-04-012024-03-3104547830core:OfficeEquipment2023-04-012024-03-3104547830core:NetGoodwill2023-04-012024-03-3104547830core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104547830core:ListedExchangeTraded2023-04-012024-03-3104547830core:UnlistedNon-exchangeTraded2023-04-012024-03-3104547830core:MoreThanFiveYears2023-04-012024-03-3104547830core:Non-currentFinancialInstruments2024-03-3104547830core:Non-currentFinancialInstruments2023-03-3104547830dpl:CostSales2023-04-012024-03-3104547830dpl:DistributionCosts2023-04-012024-03-3104547830core:LandBuildings2023-04-012024-03-3104547830core:PlantMachinery2023-04-012024-03-3104547830core:Vehicles2023-04-012024-03-3104547830core:FurnitureFittings2023-04-012024-03-3104547830core:OfficeEquipment2023-04-012024-03-3104547830dpl:AdministrativeExpenses2023-04-012024-03-3104547830core:NetGoodwill2023-04-012024-03-3104547830core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104547830dpl:GroupUndertakings2023-04-012024-03-3104547830dpl:ParticipatingInterests2023-04-012024-03-3104547830dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3104547830core:ListedExchangeTraded2023-04-012024-03-3104547830dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3104547830core:UnlistedNon-exchangeTraded2023-04-012024-03-3104547830dpl:CostSales2022-04-012023-03-3104547830dpl:DistributionCosts2022-04-012023-03-3104547830core:LandBuildings2022-04-012023-03-3104547830core:PlantMachinery2022-04-012023-03-3104547830core:Vehicles2022-04-012023-03-3104547830core:FurnitureFittings2022-04-012023-03-3104547830core:OfficeEquipment2022-04-012023-03-3104547830dpl:AdministrativeExpenses2022-04-012023-03-3104547830core:NetGoodwill2022-04-012023-03-3104547830core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3104547830dpl:GroupUndertakings2022-04-012023-03-3104547830dpl:ParticipatingInterests2022-04-012023-03-3104547830dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3104547830core:ListedExchangeTraded2022-04-012023-03-3104547830dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3104547830core:UnlistedNon-exchangeTraded2022-04-012023-03-3104547830core:NetGoodwill2024-03-3104547830core:IntangibleAssetsOtherThanGoodwill2024-03-3104547830core:LandBuildings2024-03-3104547830core:PlantMachinery2024-03-3104547830core:Vehicles2024-03-3104547830core:FurnitureFittings2024-03-3104547830core:OfficeEquipment2024-03-3104547830core:AfterOneYear2024-03-3104547830core:WithinOneYear2024-03-3104547830core:ListedExchangeTraded2024-03-3104547830core:UnlistedNon-exchangeTraded2024-03-3104547830core:ShareCapital2024-03-3104547830core:SharePremium2024-03-3104547830core:RevaluationReserve2024-03-3104547830core:OtherReservesSubtotal2024-03-3104547830core:RetainedEarningsAccumulatedLosses2024-03-3104547830core:NetGoodwill2023-03-3104547830core:IntangibleAssetsOtherThanGoodwill2023-03-3104547830core:LandBuildings2023-03-3104547830core:PlantMachinery2023-03-3104547830core:Vehicles2023-03-3104547830core:FurnitureFittings2023-03-3104547830core:OfficeEquipment2023-03-3104547830core:AfterOneYear2023-03-3104547830core:WithinOneYear2023-03-3104547830core:Liste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R-TECH SERVICES LTD

Registered Number
04547830
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

R-TECH SERVICES LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

BURT, Stephen James
FRANKS, Benjamin David
FRANKS, Jonathan Mark
MUMFORD, David Gareth, Dr

Registered Address

Testing House Kenfig Industrial Estate
Margam
Port Talbot
SA13 2PE

Registered Number

04547830 (England and Wales)
R-TECH SERVICES LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3759,593707,645
759,593707,645
Current assets
Stocks2,100-
Debtors4820,956705,565
Cash at bank and on hand509,146145,229
1,332,202850,794
Creditors amounts falling due within one year5(567,788)(370,749)
Net current assets (liabilities)764,414480,045
Total assets less current liabilities1,524,0071,187,690
Creditors amounts falling due after one year(31,482)(48,612)
Provisions for liabilities(146,897)(100,132)
Net assets1,345,6281,038,946
Capital and reserves
Profit and loss account1,345,6281,038,946
Shareholders' funds1,345,6281,038,946
The financial statements were approved and authorised for issue by the Board of Directors on 9 August 2024, and are signed on its behalf by:
FRANKS, Benjamin David
Director
Registered Company No. 04547830
R-TECH SERVICES LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Plant and machinery has been depreciated to its estimated residual value. The residual value represents the fair value of the asset in the event of disposal at an arms length transaction. The previous rate of depreciation was considered to be too aggressive. No further depreciation shall be charged on those assets, however it shall be subject to an annual impairment review. The change in estimate has been applied prospectively. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-5
Fixtures and fittings15-
Office Equipment-5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year3129
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 231,843,922
Additions104,158
At 31 March 241,948,080
Depreciation and impairment
At 01 April 231,136,277
Charge for year52,210
At 31 March 241,188,487
Net book value
At 31 March 24759,593
At 31 March 23707,645
On the balance sheet date, the assets on finance lease has a net book value of £29,596.30 and depreciation charge on such assets for the year is £7,399.08.
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables801,958705,565
Prepayments and accrued income18,998-
Total820,956705,565
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables202,640100,588
Bank borrowings and overdrafts131,731171,732
Taxation and social security164,61970,210
Finance lease and HP contracts11,96511,965
Accrued liabilities and deferred income56,83316,254
Total567,788370,749
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.
6.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts23,93035,895
7.Other commitments
The company entered into a seven year lease on 6 February 2019 for the premises it now occupies. The lease premiums are £40,000 per annum.
8.Related party transactions
The company has taken advantage of the exemptions available under FRS 102 section 33.1A and has not disclosed transactions with wholly owned subsidiaries of immediate parent company R-Tech Materials Limited.