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REGISTERED NUMBER: NI047717 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

R F CONCEPTS LIMITED

R F CONCEPTS LIMITED (REGISTERED NUMBER: NI047717)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


R F CONCEPTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Mrs E A Cardwell
Mr R F Cardwell



SECRETARY: Mr R F Cardwell



REGISTERED OFFICE: H5 Dundonald Enterprise Park
Carrowreagh Road
Dundonald
Co. Antrim
BT16 1QT



REGISTERED NUMBER: NI047717 (Northern Ireland)



ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



BANKERS: Ulster Bank
22 Frances Street
Newtownards
Co. Down
BT23 7DP

R F CONCEPTS LIMITED (REGISTERED NUMBER: NI047717)

BALANCE SHEET
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 95,554 98,886
Investments 5 956 1,508
96,510 100,394

CURRENT ASSETS
Stocks 32,583 34,089
Debtors 6 26,359 13,846
Cash at bank and in hand 11,519 19,730
70,461 67,665
CREDITORS
Amounts falling due within one year 7 252,365 243,850
NET CURRENT LIABILITIES (181,904 ) (176,185 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(85,394

)

(75,791

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (85,494 ) (75,891 )
SHAREHOLDERS' FUNDS (85,394 ) (75,791 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

R F CONCEPTS LIMITED (REGISTERED NUMBER: NI047717)

BALANCE SHEET - continued
31 AUGUST 2023


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 by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





Mr R F Cardwell - Director


R F CONCEPTS LIMITED (REGISTERED NUMBER: NI047717)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

R F Concepts Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Going concern
Directors' consideration of going concern
During the period the company made a loss of £9,603 and had net liabilities of £85,394. The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

The validity of this assumption depends on the continued support of the directors. Both the directors have indicated their willingness to continue to support the company for at least one year from the date of approval of these financial statements to ensure that the company can meet its liabilities as they fall due.

The directors therefore believe it is appropriate for the financial statements to be prepared on the going concern basis. The financial statements do not include any adjustment that would result if the support was withdrawn.

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:

Establish whether there are indicators of impairment of the company's tangible assets and investments. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general.

Consider the recoverability of trade debtors and the need for impairment provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period.

Consider the valuation of stock and the requirement for write down provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience and knowledge of the sector. Stock identified as impaired will be written down in value in the relevant period.

The directors also consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

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.
Freehold property - 2% on cost
Fixtures, fittings & equipment - 25% on reducing balance and 20% on cost

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

R F CONCEPTS LIMITED (REGISTERED NUMBER: NI047717)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Fixed asset investments
Investments in listed company shares, which have been classified as fixed asset investments, are remeasured to market value at each balance sheet date. Gains and losses on re-measurement are recognised in profit or loss for the period.

Dividends are brought to account in the profit and loss account when received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

R F CONCEPTS LIMITED (REGISTERED NUMBER: NI047717)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


4. TANGIBLE FIXED ASSETS
Fixtures,
Freehold fittings
property & equipment Totals
£    £    £   
COST
At 1 September 2022 110,995 32,463 143,458
Additions - 909 909
At 31 August 2023 110,995 33,372 144,367
DEPRECIATION
At 1 September 2022 19,050 25,522 44,572
Charge for year 2,219 2,022 4,241
At 31 August 2023 21,269 27,544 48,813
NET BOOK VALUE
At 31 August 2023 89,726 5,828 95,554
At 31 August 2022 91,945 6,941 98,886

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 September 2022 1,508
Revaluations (552 )
At 31 August 2023 956
NET BOOK VALUE
At 31 August 2023 956
At 31 August 2022 1,508

Cost or valuation at 31 August 2023 is represented by:

Other
investments
£   
Valuation in 2023 (553 )
Valuation in 2022 (891 )
Cost 2,400
956

R F CONCEPTS LIMITED (REGISTERED NUMBER: NI047717)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 7,979 529
Other debtors 18,380 13,317
26,359 13,846

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 513 86
Trade creditors 49,260 40,825
Taxation and social security - 98
Other creditors 202,592 202,841
252,365 243,850

8. ULTIMATE CONTROLLING PARTY

The company continues to be controlled by R & E Cardwell, by virtue of their shareholding.