Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31102023-08-01falseNo description of principal activity10truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07331281 2023-08-01 2024-07-31 07331281 2022-08-01 2023-07-31 07331281 2024-07-31 07331281 2023-07-31 07331281 c:Director1 2023-08-01 2024-07-31 07331281 c:Director2 2023-08-01 2024-07-31 07331281 d:PlantMachinery 2023-08-01 2024-07-31 07331281 d:PlantMachinery 2024-07-31 07331281 d:PlantMachinery 2023-07-31 07331281 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07331281 d:MotorVehicles 2023-08-01 2024-07-31 07331281 d:MotorVehicles 2024-07-31 07331281 d:MotorVehicles 2023-07-31 07331281 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07331281 d:FurnitureFittings 2023-08-01 2024-07-31 07331281 d:FurnitureFittings 2024-07-31 07331281 d:FurnitureFittings 2023-07-31 07331281 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07331281 d:OfficeEquipment 2023-08-01 2024-07-31 07331281 d:OfficeEquipment 2024-07-31 07331281 d:OfficeEquipment 2023-07-31 07331281 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07331281 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07331281 d:CurrentFinancialInstruments 2024-07-31 07331281 d:CurrentFinancialInstruments 2023-07-31 07331281 d:Non-currentFinancialInstruments 2024-07-31 07331281 d:Non-currentFinancialInstruments 2023-07-31 07331281 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 07331281 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 07331281 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 07331281 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 07331281 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-31 07331281 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 07331281 d:ShareCapital 2024-07-31 07331281 d:ShareCapital 2023-07-31 07331281 d:CapitalRedemptionReserve 2024-07-31 07331281 d:CapitalRedemptionReserve 2023-07-31 07331281 d:RetainedEarningsAccumulatedLosses 2024-07-31 07331281 d:RetainedEarningsAccumulatedLosses 2023-07-31 07331281 c:FRS102 2023-08-01 2024-07-31 07331281 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 07331281 c:FullAccounts 2023-08-01 2024-07-31 07331281 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07331281 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 07331281 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 07331281 2 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 07331281









REPAIR MAINTENANCE SOLUTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
REPAIR MAINTENANCE SOLUTIONS LIMITED
REGISTERED NUMBER: 07331281

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
76,953
87,084

  
76,953
87,084

Current assets
  

Stocks
  
10,832
9,615

Debtors: amounts falling due within one year
 5 
253,148
189,282

Cash at bank and in hand
 6 
69,567
70,373

  
333,547
269,270

Creditors: amounts falling due within one year
 7 
(382,726)
(338,109)

Net current liabilities
  
 
 
(49,179)
 
 
(68,839)

Total assets less current liabilities
  
27,774
18,245

Creditors: amounts falling due after more than one year
 8 
(8,345)
2

Provisions for liabilities
  

Deferred tax
 10 
(14,904)
(16,782)

  
 
 
(14,904)
 
 
(16,782)

Net assets
  
4,525
1,465


Capital and reserves
  

Called up share capital 
  
200
200

Capital redemption reserve
  
100
100

Profit and loss account
  
4,225
1,165

  
4,525
1,465


Page 1

 
REPAIR MAINTENANCE SOLUTIONS LIMITED
REGISTERED NUMBER: 07331281
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider 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 directors acknowledge their 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 on 25 September 2024.




................................................
Mark Kiernan
................................................
John Taylor
Director
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
REPAIR MAINTENANCE SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

The financial statements are presented in Pounds Sterling (£GBP).

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
REPAIR MAINTENANCE SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

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.

 
2.8

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.

Page 4

 
REPAIR MAINTENANCE SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.9

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Motor vehicles
-
15%
Fixtures and fittings
-
15%
Office equipment
-
15%

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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 5

 
REPAIR MAINTENANCE SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 10).

Page 6

 
REPAIR MAINTENANCE SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 August 2023
78,700
58,933
62,838
3,607
204,078


Additions
-
3,100
58
1,082
4,240


Disposals
-
(14,600)
-
-
(14,600)



At 31 July 2024

78,700
47,433
62,896
4,689
193,718



Depreciation


At 1 August 2023
45,309
29,296
39,902
2,487
116,994


Charge for the year on owned assets
5,114
4,390
3,449
269
13,222


Disposals
-
(13,451)
-
-
(13,451)



At 31 July 2024

50,423
20,235
43,351
2,756
116,765



Net book value



At 31 July 2024
28,277
27,198
19,545
1,933
76,953



At 31 July 2023
33,391
29,637
22,936
1,120
87,084


5.


Debtors

2024
2023
£
£


Trade debtors
243,264
179,861

Prepayments and accrued income
9,884
9,421

253,148
189,282


Page 7

 
REPAIR MAINTENANCE SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
69,567
70,373

69,567
70,373



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,648
29,004

Trade creditors
155,638
136,904

Corporation tax
27,921
6,396

Other taxation and social security
35,139
27,860

Other creditors
130,809
104,429

Accruals and deferred income
22,571
33,516

382,726
338,109



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
8,345
(2)

8,345
(2)


Page 8

 
REPAIR MAINTENANCE SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,648
29,004


10,648
29,004

Amounts falling due 1-2 years

Bank loans
8,346
-


8,346
-



18,994
29,004



10.


Deferred taxation




2024


£






At beginning of year
(16,782)


Charged to profit or loss
1,878



At end of year
(14,904)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(14,904)
(16,782)

(14,904)
(16,782)

Page 9

 
REPAIR MAINTENANCE SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


Transactions with directors

During the year the directors loan account for Mark Kiernan amounted to £62,872, this was made up of an opening credit balance of £49,260, advances totalling £26,831 and credits totalling £40,443. This is represented within other creditors.
During the year the directors loan account for John Taylor amounted to £63,970, this was made up of an opening credit balance of £50,608 and advances totalling £26,999 and credits totalling £40,361. This is represented within other creditors.

 
Page 10