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Registration number: 09269948

Rudstone Technologies Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Rudstone Technologies Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Rudstone Technologies Ltd

Company Information

Directors

Mr I Houldridge

Mr R M Wilson

Company secretary

Mr I Houldridge

Registered office

57 Heads Lane
Hessle
East Yorkshire
HU13 0JH

Bankers

HSBC Bank
Merit House

Accountants

Flexibility Professional Services (UK) Ltd
Cherry Tree Court
36 Ferensway
Hull
East Yorkshire
HU2 8NH

 

Rudstone Technologies Ltd

(Registration number: 09269948)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

14,756

15,177

Current assets

 

Debtors

5

144,444

201,164

Cash at bank and in hand

 

2,619,075

2,376,830

 

2,763,519

2,577,994

Creditors: Amounts falling due within one year

6

(142,276)

(126,596)

Net current assets

 

2,621,243

2,451,398

Total assets less current liabilities

 

2,635,999

2,466,575

Provisions for liabilities

(3,840)

(3,882)

Net assets

 

2,632,159

2,462,693

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

2,631,959

2,462,493

Shareholders' funds

 

2,632,159

2,462,693

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 September 2024 and signed on its behalf by:
 

 

Rudstone Technologies Ltd

(Registration number: 09269948)
Balance Sheet as at 31 August 2024

.........................................
Mr I Houldridge
Company secretary and director

.........................................
Mr R M Wilson
Director

 

Rudstone Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
57 Heads Lane
Hessle
East Yorkshire
HU13 0JH
United Kingdom

These financial statements were authorised for issue by the Board on 11 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Rudstone Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

Reducing balance at 25%

Motor vehicles

Revaluation method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Rudstone Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 2).

 

Rudstone Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

26,503

29,356

55,859

Additions

5,304

-

5,304

At 31 August 2024

31,807

29,356

61,163

Depreciation

At 1 September 2023

20,905

19,778

40,683

Charge for the year

2,725

2,999

5,724

At 31 August 2024

23,630

22,777

46,407

Carrying amount

At 31 August 2024

8,177

6,579

14,756

At 31 August 2023

5,599

9,578

15,177

5

Debtors

Current

2024
£

2023
£

Trade debtors

144,444

201,164

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

96

Taxation and social security

139,413

123,891

Accruals and deferred income

500

500

Other creditors

2,363

2,109

142,276

126,596

 

Rudstone Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary £1 of £1 each

200

200

200

200

         

8

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of £700.00 per each Ordinary £1

 

70,000

 

70,000

         

9

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

Mr I Houldridge

Directors Loan Account

(705)

35,000

(35,200)

(905)

         
       

Mr R M Wilson

Directors Loan Account

(74)

35,000

(35,000)

(74)

         
       

 

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Mr I Houldridge

Directors Loan Account

(709)

35,005

(35,000)

(705)

         
       

Mr R M Wilson

Directors Loan Account

(74)

35,000

(35,000)

(74)

         
       

 

 

Rudstone Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,800

25,504

Contributions paid to money purchase schemes

120,000

119,052

145,800

144,556

Dividends paid to directors

   

2024
£

 

2023
£

Mr I Houldridge

       

Ordinary £1

 

35,000

 

35,000

         

Mr R M Wilson

       

Ordinary £1

 

35,000

 

35,000