Company Registration No. 09302235 (England and Wales)
Railtech Innovations Limited
Unaudited accounts
for the year ended 30 November 2023
Railtech Innovations Limited
Unaudited accounts
Contents
Railtech Innovations Limited
Company Information
for the year ended 30 November 2023
Directors
Lewis Costa Stavrou
Thomas Fitzgerald
Company Number
09302235 (England and Wales)
Registered Office
FIRST FLOOR
39 HIGH STREET
BILLERICAY
ESSEX
CM12 9BA
United Kingdom
Accountants
LTG Accountants Limited
39A High Street
Billericay
Essex
CM12 9BA
Railtech Innovations Limited
Statement of financial position
as at 30 November 2023
Tangible assets
101,569
77,102
Debtors
2,926,086
2,742,160
Cash at bank and in hand
797,829
105,915
Creditors: amounts falling due within one year
(779,646)
(812,790)
Net current assets
2,972,269
2,066,715
Total assets less current liabilities
3,073,838
2,143,817
Creditors: amounts falling due after more than one year
(15,833)
(25,833)
Provisions for liabilities
Deferred tax
(14,623)
(7,819)
Net assets
3,043,382
2,110,165
Called up share capital
100
100
Profit and loss account
3,043,282
2,110,065
Shareholders' funds
3,043,382
2,110,165
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
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
Lewis Costa Stavrou
Director
Company Registration No. 09302235
Railtech Innovations Limited
Notes to the Accounts
for the year ended 30 November 2023
Railtech Innovations Limited is a private company, limited by shares, registered in England and Wales, registration number 09302235. The registered office is FIRST FLOOR, 39 HIGH STREET, BILLERICAY, ESSEX, CM12 9BA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight Line 25%
Motor vehicles
Straight Line 20%
Fixtures & fittings
Straight Line 25%
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
13,597
112,895
3,225
129,717
Additions
18,096
38,689
8,971
65,756
At 30 November 2023
31,693
151,584
12,196
195,473
At 1 December 2022
4,997
45,864
1,754
52,615
Charge for the year
7,923
30,317
3,049
41,289
At 30 November 2023
12,920
76,181
4,803
93,904
At 30 November 2023
18,773
75,403
7,393
101,569
At 30 November 2022
8,600
67,031
1,471
77,102
Railtech Innovations Limited
Notes to the Accounts
for the year ended 30 November 2023
Amounts falling due within one year
Accrued income and prepayments
2,255,396
4,264
Amounts falling due after more than one year
Accrued income and prepayments
18,676
18,676
Other debtors
643,552
592,533
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Obligations under finance leases and hire purchase contracts
1,821
5,335
Trade creditors
82,451
131,049
Taxes and social security
393,350
519,165
Other creditors
7,704
34,534
7
Creditors: amounts falling due after more than one year
2023
2022
The company has paid a $22,000.00 deposit on a Jetson ONE, with a further $77,000.00 due upon completion of development. This is estimated to be after October 2023.
8
Transactions with related parties
The company incurs costs billed by LKD Engineering Limited, which is controlled by Lewis Costa Stavrou.
There is also an inter-company loan to LKD Engineering Limited.
There is also an inter-company loan to a Portugese venture, which is controlled by the Directors of Railtech Innovations Limited.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).