Acorah Software Products - Accounts Production 14.5.501 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 06557614 Mr Rheece Thornhill iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06557614 2023-03-31 06557614 2024-03-31 06557614 2023-04-01 2024-03-31 06557614 frs-core:CurrentFinancialInstruments 2024-03-31 06557614 frs-core:Non-currentFinancialInstruments 2024-03-31 06557614 frs-core:FurnitureFittings 2024-03-31 06557614 frs-core:FurnitureFittings 2023-04-01 2024-03-31 06557614 frs-core:FurnitureFittings 2023-03-31 06557614 frs-core:NetGoodwill 2024-03-31 06557614 frs-core:NetGoodwill 2023-04-01 2024-03-31 06557614 frs-core:NetGoodwill 2023-03-31 06557614 frs-core:MotorVehicles 2024-03-31 06557614 frs-core:MotorVehicles 2023-04-01 2024-03-31 06557614 frs-core:MotorVehicles 2023-03-31 06557614 frs-core:PlantMachinery 2024-03-31 06557614 frs-core:PlantMachinery 2023-04-01 2024-03-31 06557614 frs-core:PlantMachinery 2023-03-31 06557614 frs-core:ShareCapital 2024-03-31 06557614 frs-core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 06557614 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06557614 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06557614 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06557614 frs-bus:SmallEntities 2023-04-01 2024-03-31 06557614 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06557614 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06557614 frs-bus:Director1 2023-04-01 2024-03-31 06557614 frs-countries:EnglandWales 2023-04-01 2024-03-31 06557614 2022-03-31 06557614 2023-03-31 06557614 2022-04-01 2023-03-31 06557614 frs-core:CurrentFinancialInstruments 2023-03-31 06557614 frs-core:Non-currentFinancialInstruments 2023-03-31 06557614 frs-core:ShareCapital 2022-03-31 06557614 frs-core:ShareCapital 2023-03-31 06557614 frs-core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 06557614 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-03-31 06557614 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 06557614
RT RECYCLING LIMITED
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 06557614
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 182,762 151,534
182,762 151,534
CURRENT ASSETS
Debtors 6 26,808 29,467
Cash at bank and in hand 91,991 73,565
118,799 103,032
Creditors: Amounts Falling Due Within One Year 7 (61,077 ) (35,822 )
NET CURRENT ASSETS (LIABILITIES) 57,722 67,210
TOTAL ASSETS LESS CURRENT LIABILITIES 240,484 218,744
Creditors: Amounts Falling Due After More Than One Year 8 (16,667 ) (26,667 )
NET ASSETS 223,817 192,077
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 223,815 192,075
SHAREHOLDERS' FUNDS 223,817 192,077
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Rheece Thornhill
Director
26 August 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2022 2 131,532 131,534
Profit for the year and total comprehensive income - 118,543 118,543
Dividends paid - (58,000) (58,000)
As at 31 March 2023 and 1 April 2023 2 192,075 192,077
Profit for the year and total comprehensive income - 95,740 95,740
Dividends paid - (64,000) (64,000)
As at 31 March 2024 2 223,815 223,817
Page 3
Page 4
Notes to the Financial Statements
1. General Information
RT RECYCLING LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 06557614 . The registered office is 16 Queen Street , Ilkeston, Derbyshire, DE7 5GT.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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:
Plant & Machinery 20% straight line
Motor Vehicles 20% straight line
Fixtures & Fittings 33% straight line
2.5. 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. 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.
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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 10)
9 10
Page 4
Page 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 50,000
As at 31 March 2024 50,000
Amortisation
As at 1 April 2023 50,000
As at 31 March 2024 50,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 214,462 167,406 2,950 384,818
Additions 18,278 59,995 - 78,273
Disposals - (10,495 ) - (10,495 )
As at 31 March 2024 232,740 216,906 2,950 452,596
Depreciation
As at 1 April 2023 118,890 111,444 2,950 233,284
Provided during the period 26,188 20,857 - 47,045
Disposals - (10,495 ) - (10,495 )
As at 31 March 2024 145,078 121,806 2,950 269,834
Net Book Value
As at 31 March 2024 87,662 95,100 - 182,762
As at 1 April 2023 95,572 55,962 - 151,534
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 26,808 29,007
Other debtors - 460
26,808 29,467
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,834 -
Bank loans and overdrafts 10,000 10,000
Corporation tax 18,170 7,207
Other taxes and social security 3,243 -
VAT 15,004 14,845
Net wages 2,603 -
Other creditors 25 268
Accruals and deferred income 2,475 3,250
Director's loan account 1,723 252
61,077 35,822
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 16,667 26,667
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 6