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Company No: 01206657 (England and Wales)

RDS (MME) LTD.

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

RDS (MME) LTD.

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

RDS (MME) LTD.

BALANCE SHEET

As at 31 January 2024
RDS (MME) LTD.

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 439,431 588,308
439,431 588,308
Current assets
Stocks 5 329,296 257,992
Debtors 6 2,769,760 2,497,275
Cash at bank and in hand 157,228 2,910
3,256,284 2,758,177
Creditors: amounts falling due within one year 7 ( 1,837,161) ( 1,100,137)
Net current assets 1,419,123 1,658,040
Total assets less current liabilities 1,858,554 2,246,348
Creditors: amounts falling due after more than one year 8 ( 501,584) ( 782,164)
Provision for liabilities ( 92,199) ( 100,142)
Net assets 1,264,771 1,364,042
Capital and reserves
Called-up share capital 2,000 2,000
Profit and loss account 1,262,771 1,362,042
Total shareholder's funds 1,264,771 1,364,042

For the financial year ending 31 January 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 RDS (MME) Ltd. (registered number: 01206657) were approved and authorised for issue by the Director on 31 October 2024. They were signed on its behalf by:

K Mellor
Director
RDS (MME) LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
RDS (MME) LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 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

RDS (MME) 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 14 Airfield Road, Christchurch, BH23 3TG, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

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 average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Website costs 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Plant and machinery 20 % reducing balance
Vehicles 4 years straight line

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.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 17 17

3. Intangible assets

Goodwill Website costs Total
£ £ £
Cost
At 01 February 2023 82,137 13,176 95,313
At 31 January 2024 82,137 13,176 95,313
Accumulated amortisation
At 01 February 2023 82,137 13,176 95,313
At 31 January 2024 82,137 13,176 95,313
Net book value
At 31 January 2024 0 0 0
At 31 January 2023 0 0 0

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 February 2023 58,853 593,418 155,408 807,679
Additions 11,579 0 0 11,579
At 31 January 2024 70,432 593,418 155,408 819,258
Accumulated depreciation
At 01 February 2023 5,395 161,658 52,318 219,371
Charge for the financial year 6,175 107,659 46,622 160,456
At 31 January 2024 11,570 269,317 98,940 379,827
Net book value
At 31 January 2024 58,862 324,101 56,468 439,431
At 31 January 2023 53,458 431,760 103,090 588,308

5. Stocks

2024 2023
£ £
Stocks 329,296 257,992

6. Debtors

2024 2023
£ £
Trade debtors 468,702 446,504
Amounts owed by Group undertakings 1,715,372 628,527
Amounts owed by related parties 0 150,000
Other debtors 585,686 1,272,244
2,769,760 2,497,275

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 47,500 47,500
Trade creditors 318,550 243,317
Amounts owed to connected companies 151,591 0
Taxation and social security 304,780 147,381
Obligations under finance leases and hire purchase contracts (secured) 136,203 154,009
Other creditors 878,537 507,930
1,837,161 1,100,137

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

2024 2023
£ £
Bank loans 102,292 179,792
Obligations under finance leases and hire purchase contracts (secured) 206,823 339,967
Other creditors 192,469 262,405
501,584 782,164

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Director's loan account (264,941) 726,464

10. Ultimate controlling party

Parent Company:

MME Holdings Ltd