Company registration number 01724940 (England and Wales)
RPM INSTALLATIONS (KENT) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
RPM INSTALLATIONS (KENT) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
RPM INSTALLATIONS (KENT) LIMITED (REGISTERED NUMBER: 01724940)
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
80,413
86,344
Current assets
Stocks
4,000
4,000
Debtors
4
711,463
597,406
Cash at bank and in hand
666,440
648,085
1,381,903
1,249,491
Creditors: amounts falling due within one year
5
(821,000)
(782,557)
Net current assets
560,903
466,934
Total assets less current liabilities
641,316
553,278
Provisions for liabilities
(11,989)
(12,079)
Net assets
629,327
541,199
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
629,325
541,197
Total equity
629,327
541,199
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have 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.
RPM INSTALLATIONS (KENT) LIMITED (REGISTERED NUMBER: 01724940)
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 11 November 2024 and are signed on its behalf by:
R F Hallett Esq
Director
RPM INSTALLATIONS (KENT) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
RPM Installations (Kent) Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Forge, 3-5 Farleigh Hill, Maidstone, Kent, ME15 6RG.
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 £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of consideration received or receivable for the 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. The following criteria also must be met before turnover is recognised.
Turnover for the sale of goods is recognised when all of the following conditions are met: |
- The company has transferred the significant risks and rewards of ownership to the buyer; |
- the amount of turnover can be recognised reliably and; |
- It is probable that the company will receive the consideration due under the transaction. |
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- The amount of turnover can be measure reliably.
- It is probable that the company will receive the consideration under the contract.
-The stage of completion of the contract at the end of the reporting period can be measure reliably; and
- The costs incurred and the costs to complete the contract can be measure reliably.
1.4
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.
RPM INSTALLATIONS (KENT) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
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:
Equipment
25% on reducing balance
Fixtures & equipment
25% on reducing balance
Motor vehicles
25% on 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.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
RPM INSTALLATIONS (KENT) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 13 (2023 - 13).
2024
2023
Number
Number
Total
13
13
3
Tangible fixed assets
Equipment
Fixtures & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023
64,127
79,321
242,204
385,652
Additions
2,761
3,062
24,019
29,842
Disposals
(30,327)
(30,327)
At 30 April 2024
66,888
82,383
235,896
385,167
Depreciation and impairment
At 1 May 2023
58,747
73,239
167,322
299,308
Depreciation charged in the year
1,748
2,023
14,961
18,732
Eliminated in respect of disposals
(13,286)
(13,286)
At 30 April 2024
60,495
75,262
168,997
304,754
Carrying amount
At 30 April 2024
6,393
7,121
66,899
80,413
At 30 April 2023
5,380
6,082
74,882
86,344
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
711,463
593,754
Other debtors
3,652
711,463
597,406
RPM INSTALLATIONS (KENT) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
747,500
726,674
Taxation and social security
52,604
40,240
Other creditors
20,896
15,643
821,000
782,557
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2
7
Financial commitments, guarantees and contingent liabilities
The company gives the bank a fixed and floating charge over its assets and undertaking owned now and in the future. These charges were satisfied shortly after the year-end.