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Registered number: 11692292
R.T.L Group LTD
Unaudited Financial Statements
For The Year Ended 30 November 2023
Simon and Co Accountancy Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11692292
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 71,655 90,458
Investments 5 47,000 47,000
118,655 137,458
CURRENT ASSETS
Debtors 6 594,271 247,251
Cash at bank and in hand 358,892 425,609
953,163 672,860
Creditors: Amounts Falling Due Within One Year 7 (772,436 ) (562,572 )
NET CURRENT ASSETS (LIABILITIES) 180,727 110,288
TOTAL ASSETS LESS CURRENT LIABILITIES 299,382 247,746
NET ASSETS 299,382 247,746
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 299,282 247,646
SHAREHOLDERS' FUNDS 299,382 247,746
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Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Adam Caird
Director
Mr Sam Allen
Director
23/08/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
R.T.L Group LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11692292 . The registered office is 92a High Street, Orpington, Kent, BR6 0JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% Reducing balance method
Fixtures & Fittings 25% Straight Line method
Computer Equipment 33% Straight Line method
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.4. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2022: 19)
25 19
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 87,323 20,366 35,731 143,420
Additions - 4,440 1,606 6,046
As at 30 November 2023 87,323 24,806 37,337 149,466
Depreciation
As at 1 December 2022 17,464 8,093 27,405 52,962
Provided during the period 13,972 5,849 5,028 24,849
As at 30 November 2023 31,436 13,942 32,433 77,811
Net Book Value
As at 30 November 2023 55,887 10,864 4,904 71,655
As at 1 December 2022 69,859 12,273 8,326 90,458
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5. Investments
Listed
£
Cost
As at 1 December 2022 47,000
As at 30 November 2023 47,000
Provision
As at 1 December 2022 -
As at 30 November 2023 -
Net Book Value
As at 30 November 2023 47,000
As at 1 December 2022 47,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 70,863 24,237
Prepayments and accrued income 2,841 7,677
Other debtors 85,883 96,125
Other debtors (1) 38,851 -
Other debtors (2) 2,005 -
Other debtors (3) 293,555 -
Directors' loan accounts 100,273 119,212
594,271 247,251
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 18,132 7,678
Bank loans and overdrafts 25,000 109,656
Corporation tax 169,161 154,704
Other taxes and social security 100,392 107,095
VAT 340,722 157,565
Credit Card 3,415 3,302
Pension payable 1,945 1,598
Other creditors (2) 1,980 -
Other creditors (3) 65,668 -
...CONTINUED
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Other creditors (4) 28,021 -
Accruals and deferred income 1,000 3,000
Intercompany - R.E.C Group Ltd 17,000 17,974
772,436 562,572
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr Adam Caird 59,604 4,389 21,500 - 42,493
Mr Sam Allen 59,607 19,674 21,500 - 57,781
The above loan is unsecured, interest free and repayable on demand.
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