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REGISTERED NUMBER: 03671139 (England and Wales)



















RELCO UK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






RELCO UK LIMITED (REGISTERED NUMBER: 03671139)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


RELCO UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr M Gill
Mr I D Gill





SECRETARY: Mr M Gill





REGISTERED OFFICE: Relco Building
Imperial Way
WATFORD
WD24 4JP





REGISTERED NUMBER: 03671139 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

RELCO UK LIMITED (REGISTERED NUMBER: 03671139)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,529,325 1,380,096
1,529,325 1,380,096

CURRENT ASSETS
Stocks 276,228 366,235
Debtors 6 743,493 713,052
Cash at bank and in hand 3,247,883 3,658,438
4,267,604 4,737,725
CREDITORS
Amounts falling due within one year 7 537,468 864,311
NET CURRENT ASSETS 3,730,136 3,873,414
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,259,461

5,253,510

CREDITORS
Amounts falling due after more than one
year

8

-

(61,050

)

PROVISIONS FOR LIABILITIES (30,463 ) (30,463 )
NET ASSETS 5,228,998 5,161,997

CAPITAL AND RESERVES
Called up share capital 10 632,000 632,000
Capital redemption reserve 471,461 471,461
Retained earnings 4,125,537 4,058,536
SHAREHOLDERS' FUNDS 5,228,998 5,161,997

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

RELCO UK LIMITED (REGISTERED NUMBER: 03671139)

BALANCE SHEET - continued
31 DECEMBER 2023


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

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 24 September 2024 and were signed on its behalf by:





Mr M Gill - Director


RELCO UK LIMITED (REGISTERED NUMBER: 03671139)

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


1. STATUTORY INFORMATION

Relco UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

RELCO UK LIMITED (REGISTERED NUMBER: 03671139)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 1 267,000 267,001
AMORTISATION
At 1 January 2023
and 31 December 2023 1 267,000 267,001
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - - -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 1,499,306 455,828 171,479
Additions 159,904 - 40,275
At 31 December 2023 1,659,210 455,828 211,754
DEPRECIATION
At 1 January 2023 252,803 418,585 161,371
Charge for year 33,185 8,401 20,882
At 31 December 2023 285,988 426,986 182,253
NET BOOK VALUE
At 31 December 2023 1,373,222 28,842 29,501
At 31 December 2022 1,246,503 37,243 10,108

RELCO UK LIMITED (REGISTERED NUMBER: 03671139)

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


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 187,131 34,629 2,348,373
Additions 63,850 2,029 266,058
At 31 December 2023 250,981 36,658 2,614,431
DEPRECIATION
At 1 January 2023 116,995 18,523 968,277
Charge for year 42,823 11,538 116,829
At 31 December 2023 159,818 30,061 1,085,106
NET BOOK VALUE
At 31 December 2023 91,163 6,597 1,529,325
At 31 December 2022 70,136 16,106 1,380,096

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 405,060 475,715
Other debtors 272,978 213,329
Corporation tax 7,076 7,076
VAT 38,558 1,143
Prepayments and accrued income 19,821 15,789
743,493 713,052

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 61,050 10,821
Trade creditors 195,700 617,808
Corporation tax 37,075 -
Social security and other taxes 38,947 36,775
Other creditors 6,879 7,090
Directors' current accounts 183,717 183,717
Accruals and deferred income 14,100 8,100
537,468 864,311

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 61,050

RELCO UK LIMITED (REGISTERED NUMBER: 03671139)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 61,050 71,871

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
632,000 Ordinary £1 632,000 632,000

11. RELATED PARTY DISCLOSURES

Included in current liabilities are directors loans amounting to £183,717 (2022:£183,717) on which no interest is being charged.