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Registration number: 5035341

RGM Products Limited

Unaudited Filleted Financial Statements

for the Period from 1 July 2022 to 31 December 2023

 

RGM Products Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

RGM Products Limited

Company Information

Director

Mrs Gillian Malpas

Company secretary

Mr Christopher Malpas

Registered office

Church Cottage
York Road
Escrick
York
YO19 6EX

 

RGM Products Limited

(Registration number: 5035341)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

250

1,000

Tangible assets

5

21

30

 

271

1,030

Current assets

 

Stocks

6

18,750

18,410

Debtors

7

1,800

6,925

Cash at bank and in hand

 

104,785

29,644

 

125,335

54,979

Creditors: Amounts falling due within one year

8

(47,892)

(27,787)

Net current assets

 

77,443

27,192

Net assets

 

77,714

28,222

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

77,614

28,122

Shareholders' funds

 

77,714

28,222

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 August 2024
 

 

RGM Products Limited

(Registration number: 5035341)
Balance Sheet as at 31 December 2023

.........................................
Mrs Gillian Malpas
Director

 

RGM Products Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Church Cottage
York Road
Escrick
York
YO19 6EX

These financial statements were authorised for issue by the director on 20 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Other grants

Grants receivable as a result of the Covid 19 shut down are recognised as income in the period when they are received and disclosed in the detailed profit and loss statement.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

RGM Products Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Other property, plant and equipment

20 to 33% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

 

RGM Products Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

 

RGM Products Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2022

10,000

10,000

At 31 December 2023

10,000

10,000

Amortisation

At 1 July 2022

9,000

9,000

Amortisation charge

750

750

At 31 December 2023

9,750

9,750

Carrying amount

At 31 December 2023

250

250

At 30 June 2022

1,000

1,000

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

4,841

4,841

At 31 December 2023

4,841

4,841

Depreciation

At 1 July 2022

4,811

4,811

Charge for the period

9

9

At 31 December 2023

4,820

4,820

Carrying amount

At 31 December 2023

21

21

At 30 June 2022

30

30

 

RGM Products Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

6

Stocks

2023
£

2022
£

Other inventories

18,750

18,410

7

Debtors

Current

2023
£

2022
£

Trade debtors

-

4,655

Prepayments

-

470

Other debtors

1,800

1,800

 

1,800

6,925

 

RGM Products Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

13,850

15,668

Trade creditors

 

11,977

7,570

Taxation and social security

 

20,544

3,374

Accruals and deferred income

 

1,500

1,175

Other creditors

 

21

-

 

47,892

27,787

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

13,850

15,668

11

Related party transactions

Transactions with the director

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mrs Gillian Malpas

Director's loan account

15,668

(11,417)

9,599

13,850

 

RGM Products Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 31 December 2023

2022

At 1 July 2021
£

Advances to director
£

Repayments by director
£

At 30 June 2022
£

Mrs Gillian Malpas

Director's loan account

12,119

(3,709)

7,258

15,668