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REGISTERED NUMBER: 11022351 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 May 2024

for

Realtime Technical Services Ltd

Realtime Technical Services Ltd (Registered number: 11022351)






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 Technical Services Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: D Gallagher
M Comiskey





SECRETARY: E McGrath





REGISTERED OFFICE: 39 - 41 Swanley Bar Lane
Potters Bar
Hertfordshire
EN6 1NU





REGISTERED NUMBER: 11022351 (England and Wales)





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

Realtime Technical Services Ltd (Registered number: 11022351)

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 solid year trading despite the volatile trading conditions of the construction market. The company has made a profit and increased its sales by £1.3 million.

Some key financial highlights are shown below:




2024 2023 2022

Turnover £7.3 million £6 million £5.8 million

Turnover movement £1.3 million £0.2 million £2.8 million

Gross profit margin 0.56% 1.2% 2.6%

Profit before tax 0.44% 0.93% 2%


Realtime Technical Services Ltd (Registered number: 11022351)

Strategic Report
for the Year Ended 31 May 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The company derives its turnover from providing subcontracted labour to a fellow group company, Realtime Civil Engineering Limited. Its results are therefore dependant on the business generated from that company.

Since the company's main expense is subcontract labour and other administrative costs are minimal, any reduction in sales income will in turn bring about a reduction of direct costs accordingly.

The primary business risks faced by the company are those faced by its fellow group company, which continue to be as a result of Brexit, the war in Ukraine and the general economic outlook of the country. Each of these factors are likely to impact the ability of the company to trade, with the potential disruption to supply chains.

The industry in which the company operates is construction and the provision of labour. The recruitment and retention of superior quality labour is therefore a significant risk faced by the company, especially since the UK's withdrawal from the European Union.

In order that the business can attract and retain staff of a high quality, the management regularly reviews its Health and Safety policy to ensure that its workers are well trained and are attracted to work in a safe environment.

Strong risk-based procedures are in place which are used whenever the company tenders for new business. This approach enables management to minimise any adverse effects of unexpected changes in conditions as each project progresses.

The directors aim to keep a healthy balance of liquid funds so as to take advantage of any new opportunities as and when they arise.

The change to the law regarding IR35 could have a major impact on the margins in which the company operates. In order that the company reduces the risk of non-compliance, its contracts with subcontractors have been reviewed.

Management monitor and review the business and operating risks faced by the company and adjust its plans accordingly so that the company is able to trade within its means in the long term.

The directors are satisfied with the results achieved by the company given the circumstances that its industry is in and believe that the company is well placed to continue to trade successfully in the future.

ON BEHALF OF THE BOARD:





D Gallagher - Director


11 November 2024

Realtime Technical Services Ltd (Registered number: 11022351)

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 the provision of construction labour.

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

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

Other changes in directors holding office are as follows:

M A Keane - resigned 9 December 2023

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.

Realtime Technical Services Ltd (Registered number: 11022351)

Report of the Directors
for the Year Ended 31 May 2024


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 Technical Services Ltd

Opinion
We have audited the financial statements of Realtime Technical Services Ltd (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 Technical Services Ltd


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 four, 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 Technical Services Ltd


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 Technical Services Ltd


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

Realtime Technical Services Ltd (Registered number: 11022351)

Income Statement
for the Year Ended 31 May 2024

31.5.24 31.5.23
Notes £    £   

TURNOVER 7,274,624 6,077,755

Cost of sales 7,234,063 6,007,841
GROSS PROFIT 40,561 69,914

Administrative expenses 8,535 13,102
OPERATING PROFIT and
PROFIT BEFORE TAXATION 32,026 56,812

Tax on profit 5 6,095 12,259
PROFIT FOR THE FINANCIAL YEAR 25,931 44,553

Realtime Technical Services Ltd (Registered number: 11022351)

Other Comprehensive Income
for the Year Ended 31 May 2024

31.5.24 31.5.23
Notes £    £   

PROFIT FOR THE YEAR 25,931 44,553


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

25,931

44,553

Realtime Technical Services Ltd (Registered number: 11022351)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
CURRENT ASSETS
Debtors 6 272,426 391,382
Cash in hand 149,112 32,324
421,538 423,706
CREDITORS
Amounts falling due within one year 7 200,318 228,417
NET CURRENT ASSETS 221,220 195,289
TOTAL ASSETS LESS CURRENT
LIABILITIES

221,220

195,289

CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Retained earnings 9 219,220 193,289
SHAREHOLDERS' FUNDS 221,220 195,289

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 Technical Services Ltd (Registered number: 11022351)

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

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 June 2022 2,000 148,736 150,736

Changes in equity
Total comprehensive income - 44,553 44,553
Balance at 31 May 2023 2,000 193,289 195,289

Changes in equity
Total comprehensive income - 25,931 25,931
Balance at 31 May 2024 2,000 219,220 221,220

Realtime Technical Services Ltd (Registered number: 11022351)

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 1 127,706 (211,506 )
Tax paid (10,918 ) (20,407 )
Net cash from operating activities 116,788 (231,913 )

Increase/(decrease) in cash and cash equivalents 116,788 (231,913 )
Cash and cash equivalents at beginning of
year

2

32,324

264,237

Cash and cash equivalents at end of year 2 149,112 32,324

Realtime Technical Services Ltd (Registered number: 11022351)

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 32,026 56,812
Decrease/(increase) in trade and other debtors 118,956 (236,413 )
Decrease in trade and other creditors (23,276 ) (31,905 )
Cash generated from operations 127,706 (211,506 )

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 149,112 32,324
Year ended 31 May 2023
31.5.23 1.6.22
£    £   
Cash and cash equivalents 32,324 264,237


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 32,324 116,788 149,112
32,324 116,788 149,112
Total 32,324 116,788 149,112

Realtime Technical Services Ltd (Registered number: 11022351)

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

1. STATUTORY INFORMATION

Realtime Technical Services Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 Technical Services Ltd (Registered number: 11022351)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS
31.5.24 31.5.23
£    £   
Wages and salaries - 4,550

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

Administration - 1

31.5.24 31.5.23
£    £   
Directors' remuneration - -

Realtime Technical Services Ltd (Registered number: 11022351)

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

4. OPERATING PROFIT

The operating profit is stated after charging:

31.5.24 31.5.23
£    £   
Auditors' remuneration 5,000 5,000

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.5.24 31.5.23
£    £   
Current tax:
UK corporation tax 6,095 10,918
Tax misprovided in previous period - 1,341

Tax on profit 6,095 12,259

Reconciliation of total tax charge 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 32,026 56,812
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2023 - 25%)

6,085

14,203

Effects of:
Expenses not deductible for tax purposes 10 46
Adjustments to tax charge in respect of previous periods - 1,341
Effect of marginal relief on change on tax rate - (3,331 )
Total tax charge 6,095 12,259

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors - 137,935
Other debtors 3,067 2,000
VAT 61,341 36,461
Prepayments and accrued income 208,018 214,986
272,426 391,382

Realtime Technical Services Ltd (Registered number: 11022351)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 7,826 22,127
Amounts owed to group undertakings 50,000 50,000
Tax 6,095 10,918
Social security and other taxes 131,397 76,485
Other creditors - 63,887
Accrued expenses 5,000 5,000
200,318 228,417

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2,000 Ordinary £1 2,000 2,000

9. RESERVES
Retained
earnings
£   

At 1 June 2023 193,289
Profit for the year 25,931
At 31 May 2024 219,220

10. 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.

11. ULTIMATE CONTROLLING PARTY

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