Registered number
09491427
R & M Mechanical & Lifting Services Ltd
Filleted Accounts
31 March 2024
R & M Mechanical & Lifting Services Ltd
Registered number: 09491427
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 114,898 151,198
Current assets
Debtors 4 56,740 116,640
Cash at bank and in hand 41,823 17,765
98,563 134,405
Creditors: amounts falling due within one year 5 (68,817) (78,921)
Net current assets 29,746 55,484
Total assets less current liabilities 144,644 206,682
Creditors: amounts falling due after more than one year 6 (35,568) (23,333)
Provisions for liabilities (28,724) (28,728)
Net assets 80,352 154,621
Capital and reserves
Called up share capital 100 100
Profit and loss account 80,252 154,521
Shareholders' funds 80,352 154,621
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Evans
Director
Approved by the board on 13 August 2024
R & M Mechanical & Lifting Services Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% per annum reducing balance
Vehicles 25% per annum reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 298,725
Additions 2,000
At 31 March 2024 300,725
Depreciation
At 1 April 2023 147,527
Charge for the year 38,300
At 31 March 2024 185,827
Net book value
At 31 March 2024 114,898
At 31 March 2023 151,198
4 Debtors 2024 2023
£ £
Trade debtors 40,802 116,640
Other debtors 15,938 -
56,740 116,640
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 17,493 10,000
Obligations under finance lease and hire purchase contracts 20,454 -
Trade creditors 7,512 34,320
Director's loan accounts - 2,032
Taxation and social security costs 21,833 32,569
Other creditors 1,525 -
68,817 78,921
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,333 23,333
Obligations under finance lease and hire purchase contracts 22,235 -
35,568 23,333
7 Other information
R & M Mechanical & Lifting Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit H3, Dawkins Road
Poole
Dorset
BH15 4JY
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