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REGISTERED NUMBER: 07899711 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

RESPONSE FLUID POWER SERVICES LTD

RESPONSE FLUID POWER SERVICES LTD (REGISTERED NUMBER: 07899711)






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


RESPONSE FLUID POWER SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Jamie Benjamin Marshall
Paul Gacquin





REGISTERED OFFICE: Unit B
Hawksworth Commercial Park
Elder Road
Leeds
West Yorkshire
LS13 4AT





REGISTERED NUMBER: 07899711 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
Lawrence House
James Nicolson Link
Clifton Moor
York
North Yorkshire
YO30 4WG

RESPONSE FLUID POWER SERVICES LTD (REGISTERED NUMBER: 07899711)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 688,014 672,945

CURRENT ASSETS
Stocks 109,744 92,552
Debtors 5 393,598 417,145
Cash at bank 426,595 240,580
929,937 750,277
CREDITORS
Amounts falling due within one year 6 414,014 365,526
NET CURRENT ASSETS 515,923 384,751
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,203,937

1,057,696

CREDITORS
Amounts falling due after more than
one year

7

(158,355

)

(174,230

)

PROVISIONS FOR LIABILITIES (49,538 ) (37,953 )
NET ASSETS 996,044 845,513

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 995,944 845,413
SHAREHOLDERS' FUNDS 996,044 845,513

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.

RESPONSE FLUID POWER SERVICES LTD (REGISTERED NUMBER: 07899711)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





Jamie Benjamin Marshall - Director


RESPONSE FLUID POWER SERVICES LTD (REGISTERED NUMBER: 07899711)

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

1. STATUTORY INFORMATION

Response Fluid Power Services Ltd 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 the amount derived from ordinary activities and is stated after trade discounts, other sales taxes and VAT.

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
Short leasehold - 2% on cost
Equipment - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on reducing balance

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 Profit and Loss Account, 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.

RESPONSE FLUID POWER SERVICES LTD (REGISTERED NUMBER: 07899711)

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

2. ACCOUNTING POLICIES - continued

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.

INCOME RECOGNITION
Income is recognised when goods and services have been delivered to customers such that the risks and rewards of ownership have transferred to them.

HIRE PURCHASE AND LEASING COMMITMENT
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 and loss over the relevant period. The capital element of the future payments is treated as a liability

Rental paid under operation leases are charged to the profit and loss accounts as incurred

FINANCE COST OF DEBT
The finance costs of debt, including interest and issue costs, are allocated to each period over the term of the debt and charged to the profit and loss account at a constant rate on the outstanding amount.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Freehold Short
property leasehold Equipment
£    £    £   
COST
At 1 January 2023 375,842 145,308 89,061
Additions - - 1,610
Disposals - - -
At 31 December 2023 375,842 145,308 90,671
DEPRECIATION
At 1 January 2023 15,418 5,812 50,918
Charge for year 7,517 2,906 7,951
Eliminated on disposal - - -
At 31 December 2023 22,935 8,718 58,869
NET BOOK VALUE
At 31 December 2023 352,907 136,590 31,802
At 31 December 2022 360,424 139,496 38,143

RESPONSE FLUID POWER SERVICES LTD (REGISTERED NUMBER: 07899711)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 47,878 245,002 22,459 925,550
Additions 2,076 107,058 1,769 112,513
Disposals - (100,573 ) - (100,573 )
At 31 December 2023 49,954 251,487 24,228 937,490
DEPRECIATION
At 1 January 2023 34,222 130,072 16,163 252,605
Charge for year 3,146 49,866 3,537 74,923
Eliminated on disposal - (78,052 ) - (78,052 )
At 31 December 2023 37,368 101,886 19,700 249,476
NET BOOK VALUE
At 31 December 2023 12,586 149,601 4,528 688,014
At 31 December 2022 13,656 114,930 6,296 672,945

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 390,091 320,722
Amount owed by related parties - 91,800
Prepayments 3,507 4,623
393,598 417,145

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 61,465 55,345
Hire purchase contracts (see note 8) 28,842 22,327
Trade creditors 151,386 197,522
Corporation tax 53,427 3,722
Social security and other taxes 109,363 76,258
Other creditors 256 416
Directors' loans - 23
Accrued expenses 9,275 9,913
414,014 365,526

RESPONSE FLUID POWER SERVICES LTD (REGISTERED NUMBER: 07899711)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans - 1-2 years 50,116 61,465
Other loans - 2-5 years - 50,116
Hire purchase contracts (see note 8) 108,239 62,649
158,355 174,230

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 28,842 22,327
Between one and five years 108,239 62,649
137,081 84,976

Non-cancellable operating leases
2023 2022
£    £   
Within one year 26,000 26,000
Between one and five years 87,830 104,000
In more than five years - 9,830
113,830 139,830

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 137,081 84,976

The bank loan is guaranteed by the government.

RESPONSE FLUID POWER SERVICES LTD (REGISTERED NUMBER: 07899711)

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

10. RELATED PARTY DISCLOSURES

Mr J Marshall and Mr P Gacquin have control over a majority of shares in the company, and together with their involvement with its day-to-day management, are deemed to be the controlling parties for the purposes of Financial Standard No.102.

Mr J Marshall and Mr P Gacquin are also directors of Parkeld Limited. The amount owing as at 31st December 2023 was £ nil (2022: £91,800) This is included within Debtors.

Creditors falling due within one year includes the following director's loans. Mr J Marshall £ nil (2022:£23).