Company registration number 11794801 (England and Wales)
RM22 LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
RM22 LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RM22 LTD
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
61,110
17,368
Current assets
Debtors
4
19,920
23,048
Cash at bank and in hand
101,191
57,330
121,111
80,378
Creditors: amounts falling due within one year
5
(62,354)
(115,502)
Net current assets/(liabilities)
58,757
(35,124)
Total assets less current liabilities
119,867
(17,756)
Provisions for liabilities
(13,392)
Net assets/(liabilities)
106,475
(17,756)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
106,375
(17,856)
Total equity
106,475
(17,756)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 22 May 2024
Mr R J Merry
Director
Company registration number 11794801 (England and Wales)
RM22 LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
RM22 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment
4 years straight line
Motor vehicles
25% reducing balance
Bike
25% reducing balance
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.
1.4
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
1.5
Financial instruments
Classification of financial liabilities
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.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
RM22 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Current tax
Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Office equipment
Motor vehicles
Bike
Total
£
£
£
£
Cost
At 1 April 2023
3,064
38,000
41,064
Additions
956
66,863
673
68,492
Disposals
(38,000)
(38,000)
At 31 March 2024
4,020
66,863
673
71,556
Depreciation and impairment
At 1 April 2023
1,727
21,969
23,696
Depreciation charged in the year
513
8,150
56
8,719
Eliminated in respect of disposals
(21,969)
(21,969)
At 31 March 2024
2,240
8,150
56
10,446
Carrying amount
At 31 March 2024
1,780
58,713
617
61,110
At 31 March 2023
1,337
16,031
17,368
RM22 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
19,278
21,846
Other debtors
642
1,202
19,920
23,048
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
297
Taxation and social security
26,307
10,086
Other creditors
36,047
105,119
62,354
115,502