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REGISTERED NUMBER: 02182938 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 May 2024

for

Realtime Civil Engineering Limited

Realtime Civil Engineering Limited (Registered number: 02182938)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


Realtime Civil Engineering Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: D Gallagher
M Comiskey
E Campbell





SECRETARY: E McGrath





REGISTERED OFFICE: Swanley Bar Lane
Little Heath
Potters Bar
Hertfordshire
EN6 1NU





REGISTERED NUMBER: 02182938 (England and Wales)





AUDITORS: Evolve Accountancy and Tax Solutions Limited
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN

Realtime Civil Engineering Limited (Registered number: 02182938)

Strategic Report
for the Year Ended 31 May 2024

The directors present their strategic report for the year ended 31 May 2024.

REVIEW OF BUSINESS
The company has had a positive year of trading with longstanding clients as well as developing positive relationships with some new clients.

Turnover has increased as noted below, the directors consider that the company has had a successful period of trade and been able to increase its net asset value by over £260k.

The company remains focussed on delivering complex projects for its client base with a key focus on Health and Safety, Sustainability, Quality and Environmental compliance and improvement.
Inflationary pressures experienced in the wider economy and construction industry has resulted in continuous spikes in labour costs and material increases resulting in some projects delivering lower than expected margins. As a result, the net profit margin before tax has fallen slightly, however the company maintains a healthy level of liquid funds to enable it to take advantage of new business opportunities as and when they arise.



The Board monitors the Company's performance through the use of a variety of measurements, both financial and non-financial in order to maintain effective control over the business. The most important of these are known as key performance indicators (KPIs)

Some key financial highlights are as follows:

2024 2023 2022

Turnover £16 million £13.6 million £13.8million

Turnover movement £2.4 million (£0.2 million ) £6.7 million

Gross profit margin 22.9% 25.9% 24.6%

Profit before tax 2% 6% 7.1%

Change in net assets 9.3% 28.6% 3.6%


Realtime Civil Engineering Limited (Registered number: 02182938)

Strategic Report
for the Year Ended 31 May 2024

PRINCIPAL RISKS AND UNCERTAINTIES
Operational Risk

The Board recognises the risks associated with delivering complex projects for client, risk analysis and the management of these risks are monitored throughout all processes, from estimating to project delivery.

Detailed budgets and resourced planning tools are established prior to project commencement and project management software is utilised throughout each element of the project.
CVR's are monitored monthly, and contract conditions are managed throughout the project capturing change, including any loss, expense, or time delay.

Inflationary Risk

Inflationary pressures being experienced globally are having a volatile affect of the construction industry. The industry has seen an unprecedented year on year inflation effecting the vast majority of material costs and continued increases in labour costs. Labour inflation has also been compounded by a shrinking labour force.

The majority of construction sub-contracts are fixed price lump sum contracts, and as such increased contingencies are being utilised to best manage the inflationary risk for the business and clients.

Market & Economy Risk

Domestic market and economic conditions are a key factor to construction industry growth and trading opportunities. This coupled with global issues and war in Europe, the market has remained quite soft with growth stagnant over the past 12 months. The business is focused on maintaining existing clients and on delivering high-quality products to ensure repeat opportunities going forward. The company maintains strong liquidity and has the agility to not overextend in a challenging market.

Liquidity Risk

The company maintains a strong and liquid balance sheet and finances its operations through its cash reserves and trade debtors.

Cashflow forecasts are periodically monitored with work in progress and P&L reporting.

Health & Safety Failings

The directors are of the belief that the company's main asset is the people that work for it and the recruitment and retention of staff remain a crucial factor in the risks faced by the company.
In order to mitigate the risk that the company is unable to retain or bring in staff, the company has invested in the training and the development of its key personnel and management team so that they are able to adapt to the changing operating environment that the business serves.

The company regards the health and safety of its staff as paramount and as something which cannot be compromised. It aims to have a workplace free of incidents and injury and reviews its Health and Safety Policy regularly so that it is compliant with government legislation.

ON BEHALF OF THE BOARD:





D Gallagher - Director


11 November 2024

Realtime Civil Engineering Limited (Registered number: 02182938)

Report of the Directors
for the Year Ended 31 May 2024

The directors present their report with the financial statements of the company for the year ended 31 May 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of groundwork construction and engineering.

DIVIDENDS
No dividends will be distributed for the year ended 31 May 2024.

RESEARCH AND DEVELOPMENT
The company was engaged in several projects which were separately identified as containing research and development activities. Where technical issues were encountered during a construction project beyond the existing knowledge or capability within the industry, the company allocated specific staff resources to design, develop, test and advancement to that process.

The research and development costs are recognised in the income statement within the cost of sales.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2023 to the date of this report.

D Gallagher
M Comiskey
E Campbell

Other changes in directors holding office are as follows:

M A Keane - resigned 9 December 2023

CHARITABLE DONATIONS AND EXPENDITURE
The company made charitable donations during the year as follows:

Name £

Cosmic 350
The Kier Foundation 1,001
Maggie's 2,000
Save The Children 1,500
Alzheimers Society 355
Mayo Roscommon Hospice 442
Paralympics GB 2,500
Lighthouse 50
Givergy 2,626

10,824


Realtime Civil Engineering Limited (Registered number: 02182938)

Report of the Directors
for the Year Ended 31 May 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Evolve Accountancy and Tax Solutions Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D Gallagher - Director


11 November 2024

Report of the Independent Auditors to the Members of
Realtime Civil Engineering Limited

Opinion
We have audited the financial statements of Realtime Civil Engineering Limited (the 'company') for the year ended 31 May 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 May 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Realtime Civil Engineering Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Realtime Civil Engineering Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
the laws and regulations applicable to the company were identified through discussions with directors and other management, and from our commercial knowledge and experience of the building sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to consider instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Realtime Civil Engineering Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul O'Rourke FCA (Senior Statutory Auditor)
for and on behalf of Evolve Accountancy and Tax Solutions Limited
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN

11 November 2024


Evolve Accounting and Tax Solutions Limited

Realtime Civil Engineering Limited (Registered number: 02182938)

Income Statement
for the Year Ended 31 May 2024

31.5.24 31.5.23
Notes £    £   

TURNOVER 16,067,579 13,591,443

Cost of sales 12,390,298 10,063,464
GROSS PROFIT 3,677,281 3,527,979

Administrative expenses 3,278,266 2,688,965
OPERATING PROFIT 4 399,015 839,014

Interest receivable and similar income 10,052 4,212
409,067 843,226

Interest payable and similar expenses 5 15,970 15,405
PROFIT BEFORE TAXATION 393,097 827,821

Tax on profit 6 132,807 (63,804 )
PROFIT FOR THE FINANCIAL YEAR 260,290 891,625

Realtime Civil Engineering Limited (Registered number: 02182938)

Other Comprehensive Income
for the Year Ended 31 May 2024

31.5.24 31.5.23
Notes £    £   

PROFIT FOR THE YEAR 260,290 891,625


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

260,290

891,625

Realtime Civil Engineering Limited (Registered number: 02182938)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 447,829 492,007

CURRENT ASSETS
Debtors 9 3,270,285 2,809,275
Cash at bank and in hand 693,380 703,688
3,963,665 3,512,963
CREDITORS
Amounts falling due within one year 10 1,130,159 975,269
NET CURRENT ASSETS 2,833,506 2,537,694
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,281,335

3,029,701

CREDITORS
Amounts falling due after more than one
year

11

(111,815

)

(128,422

)

PROVISIONS FOR LIABILITIES 14 (115,847 ) (107,896 )
NET ASSETS 3,053,673 2,793,383

CAPITAL AND RESERVES
Called up share capital 15 15,000 15,000
Share premium 16 134,000 134,000
Capital redemption reserve 16 5,000 5,000
Retained earnings 16 2,899,673 2,639,383
SHAREHOLDERS' FUNDS 3,053,673 2,793,383

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by:





D Gallagher - Director


Realtime Civil Engineering Limited (Registered number: 02182938)

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

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 June 2022 15,000 2,017,758 134,000 5,000 2,171,758

Changes in equity
Dividends - (270,000 ) - - (270,000 )
Total comprehensive income - 891,625 - - 891,625
Balance at 31 May 2023 15,000 2,639,383 134,000 5,000 2,793,383

Changes in equity
Total comprehensive income - 260,290 - - 260,290
Balance at 31 May 2024 15,000 2,899,673 134,000 5,000 3,053,673

Realtime Civil Engineering Limited (Registered number: 02182938)

Cash Flow Statement
for the Year Ended 31 May 2024

31.5.24 31.5.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (1,206,464 ) 952,539
Interest element of hire purchase payments
paid

(15,970

)

(15,405

)
Tax paid (144,812 ) 158,406
Net cash from operating activities (1,367,246 ) 1,095,540

Cash flows from investing activities
Purchase of tangible fixed assets (195,503 ) (335,598 )
Sale of tangible fixed assets 45,161 174,186
Interest received 10,052 4,212
Net cash from investing activities (140,290 ) (157,200 )

Cash flows from financing activities
Capital repayments in year (43,836 ) 62,841
Decrease in group company debtors 1,541,064 (738,670 )
Equity dividends paid - (270,000 )
Net cash from financing activities 1,497,228 (945,829 )

Decrease in cash and cash equivalents (10,308 ) (7,489 )
Cash and cash equivalents at beginning of
year

2

703,688

711,177

Cash and cash equivalents at end of year 2 693,380 703,688

Realtime Civil Engineering Limited (Registered number: 02182938)

Notes to the Cash Flow Statement
for the Year Ended 31 May 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
31.5.24 31.5.23
£    £   
Profit before taxation 393,097 827,821
Depreciation charges 190,317 200,917
Loss/(profit) on disposal of fixed assets 4,203 (162,619 )
Amounts recoverable on contracts change (553,716 ) 206,683
Finance costs 15,970 15,405
Finance income (10,052 ) (4,212 )
39,819 1,083,995
(Increase)/decrease in trade and other debtors (1,448,358 ) 175,143
Increase/(decrease) in trade and other creditors 202,075 (306,599 )
Cash generated from operations (1,206,464 ) 952,539

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 May 2024
31.5.24 1.6.23
£    £   
Cash and cash equivalents 693,380 703,688
Year ended 31 May 2023
31.5.23 1.6.22
£    £   
Cash and cash equivalents 703,688 711,177


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.6.23 Cash flow At 31.5.24
£    £    £   
Net cash
Cash at bank and in hand 703,688 (10,308 ) 693,380
703,688 (10,308 ) 693,380
Debt
Finance leases (266,208 ) 43,836 (222,372 )
(266,208 ) 43,836 (222,372 )
Total 437,480 33,528 471,008

Realtime Civil Engineering Limited (Registered number: 02182938)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Realtime Civil Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical evidence and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results may differ from those estimates.

In preparing these financial statements, the directors have had to make the following judgements:

- Determine whether there are indicators of impairment to the company's tangible assets. Factors taken into consideration in reaching such a decision include economic viability and expected future financial performance of the asset.

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation and maintenance are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and that such revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services:
Revenue 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 al of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably;
and
- the costs incurred and the costs to complete the contract can be measured reliably.

Realtime Civil Engineering Limited (Registered number: 02182938)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.


Plant and machinery25% straight line
Motor vehicles25% straight line
Fixtures and fittings25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the sales proceeds with the carrying amount and are recognised in the income statement.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction cost. Financial assets classified as receivable within one year are not amortised.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.


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.

Basic financial liabilities
Basic financial liabilities, including creditors and loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price.

Realtime Civil Engineering Limited (Registered number: 02182938)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
31.5.24 31.5.23
£    £   
Wages and salaries 1,388,780 1,142,586
Social security costs 29,758 28,664
Other pension costs 257,496 289,640
1,676,034 1,460,890

The average number of employees during the year was as follows:
31.5.24 31.5.23

Administration 3 3
Development 3 3
Logistics and procurement 5 9
Marketing and sales 3 3
14 18

31.5.24 31.5.23
£    £   
Directors' remuneration 250,000 241,667

Information regarding the highest paid director is as follows:
31.5.24 31.5.23
£    £   
Emoluments etc 120,000 120,000

Realtime Civil Engineering Limited (Registered number: 02182938)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.5.24 31.5.23
£    £   
Other operating leases 40,052 26,707
Depreciation - owned assets 88,592 129,309
Depreciation - assets on hire purchase contracts 101,725 71,608
Loss/(profit) on disposal of fixed assets 4,203 (162,619 )
Auditors' remuneration 15,000 15,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.5.24 31.5.23
£    £   
Hire purchase 15,970 15,405

6. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
31.5.24 31.5.23
£    £   
Current tax:
UK corporation tax 124,856 144,812
Tax credit re R&D claim - (256,349 )
Total current tax 124,856 (111,537 )

Deferred tax 7,951 47,733
Tax on profit 132,807 (63,804 )

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.5.24 31.5.23
£    £   
Profit before tax 393,097 827,821
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 25%)

98,274

206,955

Effects of:
Expenses not deductible for tax purposes 17,393 14,681
Income not taxable for tax purposes - (40,655 )
Depreciation in excess of capital allowances 9,189 7
Tax credit re R&D claim - (256,349 )
Movement on deferred taxation 7,951 47,733
Effect of marginal relief on change in tax rate - (36,176 )
Total tax charge/(credit) 132,807 (63,804 )

Realtime Civil Engineering Limited (Registered number: 02182938)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. DIVIDENDS
31.5.24 31.5.23
£    £   
Ordinary A shares of £1 each
Final - 270,000

8. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 June 2023 1,812,280 10,056 1,822,336
Additions 195,503 - 195,503
Disposals (310,867 ) - (310,867 )
At 31 May 2024 1,696,916 10,056 1,706,972
DEPRECIATION
At 1 June 2023 1,320,312 10,017 1,330,329
Charge for year 190,284 33 190,317
Eliminated on disposal (261,503 ) - (261,503 )
At 31 May 2024 1,249,093 10,050 1,259,143
NET BOOK VALUE
At 31 May 2024 447,823 6 447,829
At 31 May 2023 491,968 39 492,007

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 June 2023 550,133
Additions 161,953
Disposals (51,063 )
Transfer to ownership (203,231 )
At 31 May 2024 457,792
DEPRECIATION
At 1 June 2023 229,088
Charge for year 101,725
Eliminated on disposal (1,703 )
Transfer to ownership (202,134 )
At 31 May 2024 126,976
NET BOOK VALUE
At 31 May 2024 330,816
At 31 May 2023 321,045

Realtime Civil Engineering Limited (Registered number: 02182938)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 1,786,545 557,015
Amounts owed by group undertakings 77,438 1,618,502
Amounts recoverable on contract 1,046,750 493,034
Other debtors 25,500 -
VAT 265,422 125,642
Prepayments and accrued income 68,630 15,082
3,270,285 2,809,275

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 12) 110,557 137,786
Trade creditors 486,490 357,143
Tax 124,856 144,812
Social security and other taxes 26,762 39,040
Other creditors 141,480 56,502
Accrued expenses 240,014 239,986
1,130,159 975,269

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 12) 111,815 128,422

12. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 110,557 137,786
Between one and five years 111,815 128,422
222,372 266,208

Non-cancellable operating leases
31.5.24 31.5.23
£    £   
Between one and five years - 45,065

Realtime Civil Engineering Limited (Registered number: 02182938)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

13. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Hire purchase contracts 222,372 266,208

Hire purchase liabilities are secured on the assets that they finance.

14. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 115,847 107,896

Deferred
tax
£   
Balance at 1 June 2023 107,896
Provided during year 7,951
Balance at 31 May 2024 115,847

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
10,000 Ordinary A £1 10,000 10,000
5,000 Ordinary B £1 5,000 5,000
15,000 15,000

16. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 June 2023 2,639,383 134,000 5,000 2,778,383
Profit for the year 260,290 260,290
At 31 May 2024 2,899,673 134,000 5,000 3,038,673

17. ULTIMATE PARENT COMPANY

Realtime Civil Engineering London Limited is regarded by the directors as being the company's ultimate parent company.

Copies of the accounts of the holding company, Realtime Civil Engineering London Limited can be obtained from its registered office of Swanley Bar Lane, Potters Bar, Hertfordshire EN6 1NU.

Realtime Civil Engineering Limited (Registered number: 02182938)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

18. RELATED PARTY DISCLOSURES

During the year the company paid rent of £156,000 (2023: £156,000) to a pension scheme of which 1 of the directors is a beneficiary. Rent was charged on an arm's length basis.

19. ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no overall controlling party.