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REGISTERED NUMBER: 02802948 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

R.M.S. LIMITED

R.M.S. LIMITED (REGISTERED NUMBER: 02802948)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


R.M.S. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr J Halcrow
Ms K A Smith
Mr S Hudson-Smith



SECRETARY: Mr S Hudson-Smith



REGISTERED OFFICE: Milton Court
East Portway
Andover
Hampshire
SP10 3LU



REGISTERED NUMBER: 02802948 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Christopher Joyce FCCA



AUDITORS: Hysons Audit Services Ltd, Statutory Auditor
14 London Street
Andover
Hampshire
SP10 2PA

R.M.S. LIMITED (REGISTERED NUMBER: 02802948)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 871,502 884,690

CURRENT ASSETS
Stocks 415,495 585,232
Debtors 6 671,295 1,594,992
Cash at bank and in hand 597,499 689,448
1,684,289 2,869,672
CREDITORS
Amounts falling due within one year 7 648,693 1,486,626
NET CURRENT ASSETS 1,035,596 1,383,046
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,907,098

2,267,736

CREDITORS
Amounts falling due after more than
one year

8

(167,027

)

(271,356

)

PROVISIONS FOR LIABILITIES (1,962 ) (29,602 )
NET ASSETS 1,738,109 1,966,778

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,737,109 1,965,778
1,738,109 1,966,778

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





Mr S Hudson-Smith - Director


R.M.S. LIMITED (REGISTERED NUMBER: 02802948)

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

1. STATUTORY INFORMATION

R.M.S. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance, 15% on reducing balance and 10% on cost
Motor vehicles - 25% on cost
Office and computer equipment - 25% on cost

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 Statement of Income and Retained Earnings, 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.


R.M.S. LIMITED (REGISTERED NUMBER: 02802948)

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

3. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 26 ) .

R.M.S. LIMITED (REGISTERED NUMBER: 02802948)

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

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 January 2023 556,975 401,623 248,277
Additions - 2,250 2,097
Disposals - - -
Reclassification/transfer - (8,977 ) -
At 31 December 2023 556,975 394,896 250,374
DEPRECIATION
At 1 January 2023 64,057 165,652 217,670
Charge for year 11,140 39,757 9,484
Eliminated on disposal - - -
At 31 December 2023 75,197 205,409 227,154
NET BOOK VALUE
At 31 December 2023 481,778 189,487 23,220
At 31 December 2022 492,918 235,971 30,607

Office
and
Motor computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 350,672 13,021 1,570,568
Additions 115,005 16,686 136,038
Disposals (98,118 ) - (98,118 )
Reclassification/transfer - - (8,977 )
At 31 December 2023 367,559 29,707 1,599,511
DEPRECIATION
At 1 January 2023 229,412 9,087 685,878
Charge for year 73,137 6,731 140,249
Eliminated on disposal (98,118 ) - (98,118 )
At 31 December 2023 204,431 15,818 728,009
NET BOOK VALUE
At 31 December 2023 163,128 13,889 871,502
At 31 December 2022 121,260 3,934 884,690

R.M.S. LIMITED (REGISTERED NUMBER: 02802948)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 64,569
Additions 109,893
At 31 December 2023 174,462
DEPRECIATION
At 1 January 2023 12,165
Charge for year 43,616
At 31 December 2023 55,781
NET BOOK VALUE
At 31 December 2023 118,681
At 31 December 2022 52,404

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 460,128 1,338,290
Amounts owed by group undertakings 46,240 181,588
Other debtors 47,525 21,755
Tax 78,018 -
VAT - 19,428
Prepayments 39,384 33,931
671,295 1,594,992

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 25,568 28,884
Hire purchase contracts 30,195 21,736
Trade creditors 497,947 980,504
Tax - 106,585
Social security and other taxes 18,437 25,760
VAT 40,704 -
Other creditors 3,083 6,213
Accruals and deferred income 32,759 316,944
648,693 1,486,626

R.M.S. LIMITED (REGISTERED NUMBER: 02802948)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 82,263 235,944
Hire purchase contracts 84,764 35,412
167,027 271,356

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 107,831 264,828
Hire purchase contracts 114,959 57,148
222,790 321,976

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christopher Joyce FCCA (Senior Statutory Auditor)
for and on behalf of Hysons Audit Services Ltd, Statutory Auditor

11. ULTIMATE CONTROLLING PARTY

The controlling party is Hudson Cable Management GroupLimited.

The ultimate controlling party is Mr S Hudson-Smith.