Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falsedirector2023-01-01true30At the year end the Company owed S Steckler, the director, £nil (2022: £nil).false32990 - Other manufacturing not elsewhere classified31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04491485 2023-01-01 2023-12-31 04491485 2022-01-01 2022-12-31 04491485 2023-12-31 04491485 2022-12-31 04491485 2022-01-01 04491485 c:Director1 2023-01-01 2023-12-31 04491485 d:PlantMachinery 2023-01-01 2023-12-31 04491485 d:PlantMachinery 2023-12-31 04491485 d:PlantMachinery 2022-12-31 04491485 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04491485 d:MotorVehicles 2023-01-01 2023-12-31 04491485 d:MotorVehicles 2023-12-31 04491485 d:MotorVehicles 2022-12-31 04491485 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04491485 d:FurnitureFittings 2023-01-01 2023-12-31 04491485 d:FurnitureFittings 2023-12-31 04491485 d:FurnitureFittings 2022-12-31 04491485 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04491485 d:ComputerEquipment 2023-01-01 2023-12-31 04491485 d:ComputerEquipment 2023-12-31 04491485 d:ComputerEquipment 2022-12-31 04491485 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04491485 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04491485 d:CurrentFinancialInstruments 2023-12-31 04491485 d:CurrentFinancialInstruments 2022-12-31 04491485 d:Non-currentFinancialInstruments 2023-12-31 04491485 d:Non-currentFinancialInstruments 2022-12-31 04491485 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04491485 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04491485 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04491485 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04491485 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 04491485 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 04491485 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 04491485 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 04491485 d:ShareCapital 2023-12-31 04491485 d:ShareCapital 2022-12-31 04491485 d:CapitalRedemptionReserve 2023-12-31 04491485 d:CapitalRedemptionReserve 2022-12-31 04491485 d:RetainedEarningsAccumulatedLosses 2023-12-31 04491485 d:RetainedEarningsAccumulatedLosses 2022-12-31 04491485 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2023-01-01 2023-12-31 04491485 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2023-12-31 04491485 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2022-12-31 04491485 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04491485 c:OrdinaryShareClass1 2023-12-31 04491485 c:OrdinaryShareClass1 2022-12-31 04491485 c:FRS102 2023-01-01 2023-12-31 04491485 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04491485 c:FullAccounts 2023-01-01 2023-12-31 04491485 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04491485 d:WithinOneYear 2023-12-31 04491485 d:WithinOneYear 2022-12-31 04491485 d:BetweenOneFiveYears 2023-12-31 04491485 d:BetweenOneFiveYears 2022-12-31 04491485 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-12-31 04491485 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2022-12-31 04491485 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2023-12-31 04491485 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2022-12-31 04491485 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:BetweenOneFiveYears 2023-12-31 04491485 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:BetweenOneFiveYears 2022-12-31 04491485 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04491485 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04491485 2 2023-01-01 2023-12-31 04491485 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04491485










RH TECHNICAL INDUSTRIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
RH TECHNICAL INDUSTRIES LIMITED
REGISTERED NUMBER: 04491485

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
220,334
203,107

  
220,334
203,107

Current assets
  

Stocks
 5 
243,451
343,098

Debtors: amounts falling due within one year
 6 
377,345
401,855

Cash at bank and in hand
 7 
532,805
438,351

  
1,153,601
1,183,304

Creditors: amounts falling due within one year
 8 
(367,440)
(468,166)

Net current assets
  
 
 
786,161
 
 
715,138

Total assets less current liabilities
  
1,006,495
918,245

Creditors: amounts falling due after more than one year
 9 
(40,533)
(66,133)

Provisions for liabilities
  

Deferred tax
 11 
(50,636)
(45,914)

Other provisions
 12 
(20,000)
(10,000)

  
 
 
(70,636)
 
 
(55,914)

Net assets
  
895,326
796,198


Capital and reserves
  

Called up share capital 
 13 
7,500
7,500

Capital redemption reserve
  
7,500
7,500

Profit and loss account
  
880,326
781,198

  
895,326
796,198


Page 1

 
RH TECHNICAL INDUSTRIES LIMITED
REGISTERED NUMBER: 04491485

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



S Steckler
Director

Date: 18 September 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
RH TECHNICAL INDUSTRIES LIMITED
 

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

1.


General information

RH Technical Industries Limited is a private company, limited by share capital and incorporated in England and Wales.
The Company's registered office and principal place of business is 1-3 Wilson House Magellan Close, Andover, Hampshire, SP10 5NT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
RH TECHNICAL INDUSTRIES LIMITED
 

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

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10% or 15%
Motor vehicles
-
20%
Fixtures and fittings
-
10% or 20%
Computer equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and laibilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
RH TECHNICAL INDUSTRIES LIMITED
 

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

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.10

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.11

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.15

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
RH TECHNICAL INDUSTRIES LIMITED
 

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

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 31 (2022 - 30).

Page 6

 
RH TECHNICAL INDUSTRIES LIMITED
 

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

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
304,680
3,995
73,507
204,622
586,804


Additions
43,377
-
-
5,384
48,761



At 31 December 2023

348,057
3,995
73,507
210,006
635,565



Depreciation


At 1 January 2023
127,748
2,197
54,548
199,204
383,697


Charge for the year on owned assets
25,142
799
3,384
2,209
31,534



At 31 December 2023

152,890
2,996
57,932
201,413
415,231



Net book value



At 31 December 2023
195,167
999
15,575
8,593
220,334



At 31 December 2022
176,932
1,798
18,959
5,418
203,107

Page 7

 
RH TECHNICAL INDUSTRIES LIMITED
 

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

5.


Stocks

2023
2022
£
£

Raw materials
149,206
199,171

Work in progress
44,361
49,176

Finished goods and goods for resale
49,884
94,751

243,451
343,098



6.


Debtors

2023
2022
£
£


Trade debtors
346,967
369,627

Other debtors
968
-

Prepayments and accrued income
29,410
32,228

377,345
401,855



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
532,805
438,351

532,805
438,351



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
25,600
25,600

Trade creditors
131,962
250,141

Corporation tax
47,055
23,337

Other taxation and social security
63,521
67,878

Other creditors
54,030
67,207

Accruals and deferred income
45,272
34,003

367,440
468,166


The bank loan is secured against the assets of the company.

Page 8

 
RH TECHNICAL INDUSTRIES LIMITED
 

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

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
40,533
66,133

40,533
66,133


The bank loan is secured against the assets of the company.


10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
25,600
25,600

Amounts falling due 1-2 years

Bank loans
25,600
25,600

Amounts falling due 2-5 years

Bank loans
14,933
40,533

66,133
91,733



11.


Deferred taxation




2023
2022


£

£






At beginning of year
(45,914)
(40,266)


Charged to profit or loss
(4,722)
(5,648)



At end of year
(50,636)
(45,914)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(50,636)
(45,914)

(50,636)
(45,914)

Page 9

 
RH TECHNICAL INDUSTRIES LIMITED
 

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

12.


Provisions




Dilapidations

£





At 1 January 2023
10,000


Charged to profit or loss
10,000



At 31 December 2023
20,000


13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



7,500 (2022 - 7,500) Ordinary shares of £1 each
7,500
7,500



14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £51,801 (2022: £29,234). Contributions totalling £7,470 (2022: £6,559) were payable to the fund at the balance sheet date.


15.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£

Land and buildings


Not later than 1 year
700
741

Later than 1 year and not later than 5 years
80,115
89,595

80,815
90,336

2023
2022

£
£

Other operating leases


Not later than 1 year
11,600
183

Later than 1 year and not later than 5 years
29,638
49,666

41,238
49,849

Page 10

 
RH TECHNICAL INDUSTRIES LIMITED
 

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

16.


Related party transactions

.


17.


Controlling party

The Company is controlled by its , by virtue of their majority shareholding.


Page 11