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Registration number: 05050124

Remote Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

(filleted for filing purposes)

 

Remote Solutions Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 11

 

Remote Solutions Limited

Company Information

Director

Mr Gavin Clark

Company secretary

Batchelor Coop Ltd

Registered office

The New Barn
Mill Lane
Eastry
Sandwich
Kent
CT13 0JW

 

Remote Solutions Limited

(Registration number: 05050124)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

566,157

521,020

Investments

5

230,329

73

 

796,486

521,093

Current assets

 

Debtors

6

718,014

394,450

Cash at bank and in hand

 

331,665

972,335

 

1,049,679

1,366,785

Creditors: Amounts falling due within one year

7

(263,566)

(142,266)

Net current assets

 

786,113

1,224,519

Total assets less current liabilities

 

1,582,599

1,745,612

Creditors: Amounts falling due after more than one year

7

(13,700)

-

Provisions for liabilities

(55,415)

(70,234)

Net assets

 

1,513,484

1,675,378

Capital and reserves

 

Called up share capital

8

1

1

Other reserves

186,830

186,830

Retained earnings

1,326,653

1,488,547

Shareholders' funds

 

1,513,484

1,675,378

 

Remote Solutions Limited

(Registration number: 05050124)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 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 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 November 2024
 

.........................................
Mr Gavin Clark
Director

 

Remote Solutions Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Non-distributable reserve
£

Retained earnings
£

Total
£

At 1 April 2023

1

186,830

1,488,547

1,675,378

Loss for the year

-

-

(111,894)

(111,894)

Dividends

-

-

(50,000)

(50,000)

At 31 March 2024

1

186,830

1,326,653

1,513,484

Share capital
£

Non-distributable reserve
£

Retained earnings
£

Total
£

At 1 April 2022

1

186,830

1,490,501

1,677,332

Profit for the year

-

-

57,191

57,191

Dividends

-

-

(59,145)

(59,145)

At 31 March 2023

1

186,830

1,488,547

1,675,378

 

Remote Solutions Limited

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

1

General information

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

The address of its registered office is:
The New Barn
Mill Lane
Eastry
Sandwich
Kent
CT13 0JW
England

These financial statements were authorised for issue by the director on 8 November 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Remote Solutions Limited

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

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Office equipment

15% reducing balance

Fixtures and fittings

15% reducing balance

Freehold property

straight line over 50 years

AV Equipment

20% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Remote Solutions Limited

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

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

 

Remote Solutions Limited

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

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.

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 the director) during the year, was 9 (2023 - 8).

 

Remote Solutions Limited

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

4

Tangible assets

Freehold land and buildings
£

AV equipment
 £

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

425,000

303,308

4,045

55,112

136,473

923,938

Additions

-

130,780

1,054

2,435

20,000

154,269

Disposals

-

(96)

-

(1,500)

-

(1,596)

At 31 March 2024

425,000

433,992

5,099

56,047

156,473

1,076,611

Depreciation

At 1 April 2023

58,430

235,699

2,882

35,729

70,178

402,918

Charge for the year

8,405

76,055

333

3,129

19,907

107,829

Eliminated on disposal

-

(20)

-

(273)

-

(293)

At 31 March 2024

66,835

311,734

3,215

38,585

90,085

510,454

Carrying amount

At 31 March 2024

358,165

122,258

1,884

17,462

66,388

566,157

At 31 March 2023

366,570

67,609

1,163

19,383

66,295

521,020

Included within the net book value of land and buildings above is £358,165 (2023 - £366,570) in respect of freehold land and buildings.
 

 

Remote Solutions Limited

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

5

Investments

2024
£

2023
£

Investments in subsidiaries

230,329

73

Subsidiaries

£

Cost or valuation

At 1 April 2023

73

Additions

230,256

At 31 March 2024

230,329

Provision

Carrying amount

At 31 March 2024

230,329

At 31 March 2023

73

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

95,266

69,098

Amounts owed by related parties

120,321

159,595

Prepayments

 

11,731

9,085

Other debtors

 

490,696

156,672

   

718,014

394,450

 

Remote Solutions Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

3,720

-

Trade creditors

16,451

120,903

Amounts due to related parties

50,935

-

Social security and other taxes

13,419

12,675

Outstanding defined contribution pension costs

1,084

1,580

Other payables

170,605

-

Accruals

7,352

1,750

Income tax liability

-

5,358

263,566

142,266

2024
£

2023
£

Current loans and borrowings

HP and finance lease liabilities

3,720

-

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

13,700

-

2024
£

2023
£

Non-current loans and borrowings

HP and finance lease liabilities

13,700

-

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1