R T C Transport 24/7 Ltd 10921884 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of transport couriers. Digita Accounts Production Advanced 6.30.9574.0 true 10921884 2023-09-01 2024-08-31 10921884 2024-08-31 10921884 core:RetainedEarningsAccumulatedLosses 2024-08-31 10921884 core:ShareCapital 2024-08-31 10921884 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-08-31 10921884 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-08-31 10921884 core:CurrentFinancialInstruments 2024-08-31 10921884 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 10921884 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 10921884 core:MotorVehicles 2024-08-31 10921884 core:PlantMachinery 2024-08-31 10921884 bus:SmallEntities 2023-09-01 2024-08-31 10921884 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10921884 bus:FilletedAccounts 2023-09-01 2024-08-31 10921884 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10921884 bus:RegisteredOffice 2023-09-01 2024-08-31 10921884 bus:Director1 2023-09-01 2024-08-31 10921884 bus:Director2 2023-09-01 2024-08-31 10921884 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10921884 core:MotorVehicles 2023-09-01 2024-08-31 10921884 core:PlantMachinery 2023-09-01 2024-08-31 10921884 countries:England 2023-09-01 2024-08-31 10921884 2023-08-31 10921884 core:MotorVehicles 2023-08-31 10921884 core:PlantMachinery 2023-08-31 10921884 2022-09-01 2023-08-31 10921884 2023-08-31 10921884 core:RetainedEarningsAccumulatedLosses 2023-08-31 10921884 core:ShareCapital 2023-08-31 10921884 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-08-31 10921884 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-08-31 10921884 core:CurrentFinancialInstruments 2023-08-31 10921884 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 10921884 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 10921884 core:MotorVehicles 2023-08-31 10921884 core:PlantMachinery 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 10921884

R T C Transport 24/7 Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

R T C Transport 24/7 Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

R T C Transport 24/7 Ltd

Company Information

Directors

Mr Julian M John

Mrs Gemma Louise John

Registered office

C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

Accountants

Smith Butler
Accountants & Business Advisors
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

 

R T C Transport 24/7 Ltd

(Registration number: 10921884)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

513,716

365,091

Current assets

 

Debtors

5

282,489

193,766

Cash at bank and in hand

 

78,180

59,952

 

360,669

253,718

Creditors: Amounts falling due within one year

6

(356,117)

(288,643)

Net current assets/(liabilities)

 

4,552

(34,925)

Total assets less current liabilities

 

518,268

330,166

Creditors: Amounts falling due after more than one year

6

(325,235)

(224,647)

Net assets

 

193,033

105,519

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

192,933

105,419

Shareholders' funds

 

193,033

105,519

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

R T C Transport 24/7 Ltd

(Registration number: 10921884)
Balance Sheet as at 31 August 2024

Approved and authorised by the Board on 19 October 2024 and signed on its behalf by:
 

.........................................
Mr Julian M John
Director

 

R T C Transport 24/7 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX
United Kingdom

These financial statements were authorised for issue by the Board on 19 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

R T C Transport 24/7 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Plant and machinery

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

R T C Transport 24/7 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2023 - 22).

 

R T C Transport 24/7 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

9,950

482,880

492,830

Additions

-

259,749

259,749

At 31 August 2024

9,950

742,629

752,579

Depreciation

At 1 September 2023

995

126,744

127,739

Charge for the year

1,791

109,333

111,124

At 31 August 2024

2,786

236,077

238,863

Carrying amount

At 31 August 2024

7,164

506,552

513,716

At 31 August 2023

8,955

356,136

365,091

5

Debtors

Current

2024
£

2023
£

Trade debtors

274,682

185,140

Prepayments

7,807

-

Other debtors

-

8,626

 

282,489

193,766

 

R T C Transport 24/7 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

157,497

124,976

Trade creditors

 

43,173

35,827

Taxation and social security

 

101,187

74,770

Other creditors

 

54,260

53,070

 

356,117

288,643

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

325,235

224,647

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

325,235

224,647

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

136,062

93,567

Other borrowings

21,435

31,409

157,497

124,976