REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
RKS (SALISBURY) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
RKS (SALISBURY) LIMITED |
RKS (SALISBURY) LIMITED (REGISTERED NUMBER: 05120729) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 6 |
RKS (SALISBURY) LIMITED |
COMPANY INFORMATION |
for the year ended 30 April 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
10 St Ann Street |
Salisbury |
Wiltshire |
SP1 2DN |
BANKERS: |
Drummond House (BL) Branch |
Drummond House |
1 Redheughs Avenue |
Edinburgh |
EH12 9JN |
RKS (SALISBURY) LIMITED (REGISTERED NUMBER: 05120729) |
BALANCE SHEET |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
RKS (SALISBURY) LIMITED (REGISTERED NUMBER: 05120729) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 April 2024 |
1. | STATUTORY INFORMATION |
RKS (Salisbury) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about RKS (Salisbury) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Investments in subsidiaries |
Investments in subsidiaries are measured at cost less accumulated impairment. |
Investments are assessed at each reporting date to determine whether there is an indication that the investments are impaired. Where there is any indication that an investment may be impaired, the carrying value of the investment is tested for impairment. |
An impairment loss is recognised in the profit and loss account for the amount by which the investment's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of the fair value less costs to sell and the value in use. |
Debtors |
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the profit and loss account when there is objective evidence that the asset is impaired. |
Cash and cash equivalents |
These comprise cash at bank and other short-term highly liquid bank deposits with an original maturity of three months or less. |
Creditors |
Creditors are not interest bearing and are stated at their nominal value. |
Reserves |
The movement in the fair value of investment property to open market value at the balance sheet date is recognised in a non-distributable reserve. This reserve, which also contains an appropriate deferred tax provision, may not be distributed to shareholders. |
Any movements in the reserve are not liable to corporation tax. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
RKS (SALISBURY) LIMITED (REGISTERED NUMBER: 05120729) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2024 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Investments represents the company's investment in its subsidiary, Graham Dimmer MOT Centre Ltd. In the experience of the director, Mr R Shearing, who has a long standing association with the MOT industry, the investment is being carried in these accounts at its fair value. |
5. | INVESTMENT PROPERTY |
The investment property has been uplifted to a fair value at the balance sheet date. The uplift to market value has been recognised in profit and loss. |
The valuation has been based on discussions with local chartered surveyors as part of the company looking to acquire further property on the same industrial complex. |
Fair value at 30 April 2024 is represented by: |
£ |
Valuation in 2024 | 75,000 |
Cost | 225,000 |
300,000 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 110,159 | 114,730 |
RKS (SALISBURY) LIMITED (REGISTERED NUMBER: 05120729) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
The bank loan is secured on the investment property, 2 Newton Road, Churchfields Industrial Estate, Salisbury, Wiltshire, SP2 7QA. |
9. | RESERVES |
30.4.24 | 30.4.23 |
£ | £ |
Distributable | 185,507 | 177,867 |
Non - distributable | 60,750 | - |
246,257 | 177,867 |
Movement in non-distributable reserve | 30.4.24 | 30.4.23 |
£ | £ |
Balance brought forward at the start of the year | - | - |
Asset uplift | 75,000 | - |
Movement in depreciation | - | - |
Movement in deferred tax | (14,250 | ) | - |
Balance carried forward at the end of the year | 60,750 | - |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
RKS (SALISBURY) LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RKS (Salisbury) Limited for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of RKS (Salisbury) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of RKS (Salisbury) Limited and state those matters that we have agreed to state to the director of RKS (Salisbury) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RKS (Salisbury) Limited and its director for our work or for this report. |
It is your duty to ensure that RKS (Salisbury) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of RKS (Salisbury) Limited. You consider that RKS (Salisbury) Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of RKS (Salisbury) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
10 St Ann Street |
Salisbury |
Wiltshire |
SP1 2DN |