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REGISTERED NUMBER: 05782725 (England and Wales)















Financial Statements for the Year Ended 30 April 2024

for

RS Tuning Limited

RS Tuning Limited (Registered number: 05782725)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RS Tuning Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: P Murray
J L Murray
S Murray
Mrs L Murray





SECRETARY: J L Murray





REGISTERED OFFICE: West End Garage
Cross Cliff Road
Hyde Park
Leeds
West Yorkshire
LS6 2DR





REGISTERED NUMBER: 05782725 (England and Wales)





ACCOUNTANTS: Tax Resolved Limited
1 The Orchard
Old Cassop
Durham
DH6 4RS

RS Tuning Limited (Registered number: 05782725)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 120,930 133,333

CURRENT ASSETS
Stocks 5 2,111 1,014
Debtors 6 16,953 30,100
Cash at bank and in hand 10,155 10,471
29,219 41,585
CREDITORS
Amounts falling due within one year 7 81,988 73,298
NET CURRENT LIABILITIES (52,769 ) (31,713 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,161

101,620

CREDITORS
Amounts falling due after more than
one year

8

41,287

62,037
NET ASSETS 26,874 39,583

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 16,874 29,583
SHAREHOLDERS' FUNDS 26,874 39,583

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RS Tuning Limited (Registered number: 05782725)

Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





P Murray - Director


RS Tuning Limited (Registered number: 05782725)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

RS Tuning Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

RS Tuning Limited (Registered number: 05782725)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2023 4,323 161,521 20,103 73,512 259,459
Additions - - 1,033 - 1,033
At 30 April 2024 4,323 161,521 21,136 73,512 260,492
DEPRECIATION
At 1 May 2023 4,323 102,018 12,434 7,351 126,126
Charge for year - 5,950 870 6,616 13,436
At 30 April 2024 4,323 107,968 13,304 13,967 139,562
NET BOOK VALUE
At 30 April 2024 - 53,553 7,832 59,545 120,930
At 30 April 2023 - 59,503 7,669 66,161 133,333

5. STOCKS
30.4.24 30.4.23
£    £   
Stocks 2,111 1,014

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 12,631 18,379
Other debtors 688 9,359
Prepayments and accrued income 3,634 2,362
16,953 30,100

RS Tuning Limited (Registered number: 05782725)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 1,000 7,000
Hire purchase contracts 10,750 10,750
Trade creditors 39,677 27,440
Tax 5,799 15,484
Social security and other taxes 14,243 1,718
Directors Loan Account 519 906
81,988 73,298

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 833 10,833
Hire purchase contracts 30,454 41,204
41,287 62,037