RBM IT Solutions Limited 07668601 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of IT consultancy. Digita Accounts Production Advanced 6.30.9574.0 true true 07668601 2023-07-01 2024-06-30 07668601 2024-06-30 07668601 core:CurrentFinancialInstruments 2024-06-30 07668601 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 07668601 core:Non-currentFinancialInstruments 2024-06-30 07668601 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 07668601 core:FurnitureFittingsToolsEquipment 2024-06-30 07668601 bus:SmallEntities 2023-07-01 2024-06-30 07668601 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 07668601 bus:FilletedAccounts 2023-07-01 2024-06-30 07668601 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 07668601 bus:RegisteredOffice 2023-07-01 2024-06-30 07668601 bus:Director1 2023-07-01 2024-06-30 07668601 bus:Director2 2023-07-01 2024-06-30 07668601 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07668601 bus:Agent1 2023-07-01 2024-06-30 07668601 core:ComputerEquipment 2023-07-01 2024-06-30 07668601 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 07668601 countries:England 2023-07-01 2024-06-30 07668601 2023-06-30 07668601 core:FurnitureFittingsToolsEquipment 2023-06-30 07668601 2022-07-01 2023-06-30 07668601 2023-06-30 07668601 core:CurrentFinancialInstruments 2023-06-30 07668601 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 07668601 core:Non-currentFinancialInstruments 2023-06-30 07668601 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 07668601 core:FurnitureFittingsToolsEquipment 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 07668601

RBM IT Solutions Limited

Report of the Directors and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

RBM IT Solutions Limited

Contents of The Financial Statements
for the Year Ended 30 June 2024

 

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

RBM IT Solutions Limited

Company Information
for the Year Ended 30 June 2024

Directors

Mr R Balasubramanian

Mrs R Subramaniam

Registered office

10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

Accountants

Insight Strategic Associates
Chartered Certified Accountants
10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
RBM IT Solutions Limited
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RBM IT Solutions Limited for the year ended 30 June 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
 

This report is made solely to the Board of Directors of RBM IT Solutions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of RBM IT Solutions Limited and state those matters that we have agreed to state to the Board of Directors of RBM IT Solutions Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RBM IT Solutions Limited and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that RBM IT Solutions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of RBM IT Solutions Limited. You consider that RBM IT Solutions Limited is exempt from the statutory audit requirement for the year.
 

We have not been instructed to carry out an audit or a review of the accounts of RBM IT Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Insight Strategic Associates
Chartered Certified Accountants

10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

25 November 2024

 

RBM IT Solutions Limited

(Registration number: 07668601 )
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,529

1,757

Current assets

 

Debtors

5

26,880

25,558

Cash at bank and in hand

 

214,101

87,861

 

240,981

113,419

Creditors: Amounts falling due within one year

6

(103,409)

(52,928)

Net current assets

 

137,572

60,491

Total assets less current liabilities

 

141,101

62,248

Creditors: Amounts falling due after more than one year

6

(7,137)

(12,083)

Provisions for liabilities

(882)

(439)

Net assets

 

133,082

49,726

Capital and reserves

 

Called up share capital

4

4

Retained earnings

133,078

49,722

Shareholders' funds

 

133,082

49,726

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

 

RBM IT Solutions Limited

(Registration number: 07668601 )
Balance Sheet as at 30 June 2024

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 November 2024 and signed on its behalf by:
 

.........................................
Mr R Balasubramanian
Director

 

RBM IT Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
10 Towerfield Road
Shoeburyness
Essex
SS3 9QE
United Kingdom

These financial statements were authorised for issue by the Board on 25 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.

Going concern

The financial statements have been prepared on a going concern basis.

 

RBM IT Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2

Accounting policies (continued)

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.

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

Computer equipment

33% Straight Line

 

RBM IT Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2

Accounting policies (continued)

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.

 

RBM IT Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2

Accounting policies (continued)

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

RBM IT Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

25,562

25,562

Additions

4,500

4,500

At 30 June 2024

30,062

30,062

Depreciation

At 1 July 2023

23,805

23,805

Charge for the year

2,728

2,728

At 30 June 2024

26,533

26,533

Carrying amount

At 30 June 2024

3,529

3,529

At 30 June 2023

1,757

1,757

5

Debtors

Current

2024
£

2023
£

Trade debtors

26,880

14,008

Prepayments

-

11,550

 

26,880

25,558

 

RBM IT Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

5,000

5,000

Trade creditors

 

35,931

383

Taxation and social security

 

59,164

45,685

Accruals and deferred income

 

1,693

1,618

Other creditors

 

1,621

242

 

103,409

52,928

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

7,137

12,083

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,137

12,083

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,000

5,000