Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Mr D Garnett 23/10/2001 17 October 2024 The principal activity of the Company during the financial year was that of providing security services. 04309600 2024-06-30 04309600 bus:Director1 2024-06-30 04309600 2023-06-30 04309600 core:CurrentFinancialInstruments 2024-06-30 04309600 core:CurrentFinancialInstruments 2023-06-30 04309600 core:Non-currentFinancialInstruments 2024-06-30 04309600 core:Non-currentFinancialInstruments 2023-06-30 04309600 core:ShareCapital 2024-06-30 04309600 core:ShareCapital 2023-06-30 04309600 core:RetainedEarningsAccumulatedLosses 2024-06-30 04309600 core:RetainedEarningsAccumulatedLosses 2023-06-30 04309600 core:LandBuildings 2023-06-30 04309600 core:PlantMachinery 2023-06-30 04309600 core:Vehicles 2023-06-30 04309600 core:LandBuildings 2024-06-30 04309600 core:PlantMachinery 2024-06-30 04309600 core:Vehicles 2024-06-30 04309600 2023-07-01 2024-06-30 04309600 bus:FilletedAccounts 2023-07-01 2024-06-30 04309600 bus:SmallEntities 2023-07-01 2024-06-30 04309600 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 04309600 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04309600 bus:Director1 2023-07-01 2024-06-30 04309600 core:LandBuildings core:TopRangeValue 2023-07-01 2024-06-30 04309600 core:PlantMachinery 2023-07-01 2024-06-30 04309600 core:Vehicles 2023-07-01 2024-06-30 04309600 2022-07-01 2023-06-30 04309600 core:LandBuildings 2023-07-01 2024-06-30 04309600 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Company No: 04309600 (England and Wales)

REAL WORLD SERVICES LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

REAL WORLD SERVICES LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

REAL WORLD SERVICES LTD

BALANCE SHEET

As at 30 June 2024
REAL WORLD SERVICES LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 269,373 299,974
269,373 299,974
Current assets
Debtors 4 328,128 204,174
Cash at bank and in hand 225,464 159,526
553,592 363,700
Creditors: amounts falling due within one year 5 ( 218,913) ( 154,242)
Net current assets 334,679 209,458
Total assets less current liabilities 604,052 509,432
Creditors: amounts falling due after more than one year 6 ( 18,170) ( 28,482)
Provision for liabilities 7 ( 36,228) ( 41,276)
Net assets 549,654 439,674
Capital and reserves
Called-up share capital 2,000 2,000
Profit and loss account 547,654 437,674
Total shareholders' funds 549,654 439,674

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Real World Services Ltd (registered number: 04309600) were approved and authorised for issue by the Director on 17 October 2024. They were signed on its behalf by:

Mr D Garnett
Director
REAL WORLD SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
REAL WORLD SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Real World Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 25 26

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 July 2023 116,855 167,993 267,089 551,937
Additions 0 3,901 54,282 58,183
Revaluations 0 0 ( 7,327) ( 7,327)
Disposals 0 ( 56,862) ( 44,303) ( 101,165)
At 30 June 2024 116,855 115,032 269,741 501,628
Accumulated depreciation
At 01 July 2023 17,230 98,188 136,545 251,963
Charge for the financial year 2,337 10,754 35,327 48,418
Disposals 0 ( 33,286) ( 34,840) ( 68,126)
At 30 June 2024 19,567 75,656 137,032 232,255
Net book value
At 30 June 2024 97,288 39,376 132,709 269,373
At 30 June 2023 99,625 69,805 130,544 299,974

4. Debtors

2024 2023
£ £
Trade debtors 325,436 203,774
Other debtors 2,692 400
328,128 204,174

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,073 9,566
Trade creditors 6,216 8,841
Taxation and social security 189,734 119,704
Other creditors 12,890 16,131
218,913 154,242

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 18,170 28,482

There are no amounts included above in respect of which any security has been given by the small entity.

7. Provision for liabilities

2024 2023
£ £
Deferred tax 36,228 41,276

8. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Finance leases entered into 70,584 70,873

9. Related party transactions

Transactions with the entity's director

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 July 2023, the balance owed to the Director was £3,382. During the year, £50,837 was advanced to the director, and £51,649 was repaid by the director. The balance owed to the Director at 30 June 2024 was £4,194.

At 1 July 2022, the balance owed to the Director was £3,160. During the year, £61,365 was advanced to the director, and £61,587 was repaid by the director. The balance owed to the Director at 30 June 2023 was £3,382.