REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
RGC (ENG) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
RGC (ENG) Limited |
RGC (ENG) Limited (Registered number: 04621028) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
RGC (ENG) Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 5 Corum 2 |
Corum Office Park |
Crown Way |
Warmley |
Bristol |
BS30 8FJ |
RGC (ENG) Limited (Registered number: 04621028) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) |
RGC (ENG) Limited (Registered number: 04621028) |
Balance Sheet - continued |
31 December 2023 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RGC (ENG) Limited (Registered number: 04621028) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
RGC (ENG) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There have been no material departures from the Financial Reporting Standard 102 1A. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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. |
Tangible fixed assets |
Tangible fixed 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 is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - 3 - 5 years straight line |
RGC (ENG) Limited (Registered number: 04621028) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Going concern |
The accounts have been prepared on a basis other than going concern. The reason for this being that the directors intend to dissolve the company within 12 months of the company year-end. The accounts continue to be prepared under the accruals basis, in line with the FRS102 Section 1A accounting standards. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
RGC (ENG) Limited (Registered number: 04621028) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Taxation and social security |
Other creditors |
7. | OTHER FINANCIAL COMMITMENTS |
There is an outstanding charge at Companies House which is a fixed and floating charge over the assets of the company by HSBC. |
RGC (ENG) Limited (Registered number: 04621028) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
8. | RELATED PARTY DISCLOSURES |
Other related parties |
During the period the following transactions occurred between RGC (ENG) Limited, Solsoft Group Limited and Cyber Tec Security Ltd. |
Purchases of £240 (2022 - £71,202) paid on behalf of Solsoft Group Limited and £998 (2022 - £351) recharged from Solsoft Group Limited. |
During the year there was a sale of trade amounting to £2,070 (2022 - £Nil) made to Solsoft Group Limited. This is presented as a profit on sale of intangible fixed assets. |
During the year sales of £240 (2022 - £210) were made to Cyber Tec Security Ltd. |
Included within other creditors is a loan balance of £11,886 (2022 - £71,832) owed to Solsoft Group Limited, which is repayable on demand. |
M D Ralston and L J Ralston are directors of RGC (ENG) Limited, Solsoft Group Limited and Cyber Tec Security Ltd. |
RGC (ENG) Limited (Registered number: 04621028) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
8. | RELATED PARTY DISCLOSURES - continued |
Loans to key management |
Key management |
Total |
2023 | £ | £ |
At start of period | 57,917 | 57,917 |
Advanced | 952 | 952 |
Repaid | (58,869 | ) | (58,869 | ) |
At end of period | - | - |
Key management |
Total |
2022 | £ | £ |
At start of the period | 57,917 | 57,917 |
Advanced | 1,171 | 1,171 |
Repaid | (1,171 | ) | (1,171 | ) |
At end of period | 57,917 | 57,917 |
Loans to key management are repayable on demand and interest is charged on loan balances owing to the company that exceed £10,000. Interest is charged at the HMRC prevailing rate. |