Silverfin false false 30/06/2024 01/07/2023 30/06/2024 J L Brannigan 22/09/2015 M D Smith 20/04/2019 J K Starley 22/09/2015 20 November 2024 The principal activity of the Company during the year was that of a holding company. 09338709 2024-06-30 09338709 bus:Director1 2024-06-30 09338709 bus:Director2 2024-06-30 09338709 bus:Director3 2024-06-30 09338709 2023-06-30 09338709 core:CurrentFinancialInstruments 2024-06-30 09338709 core:CurrentFinancialInstruments 2023-06-30 09338709 core:ShareCapital 2024-06-30 09338709 core:ShareCapital 2023-06-30 09338709 core:SharePremium 2024-06-30 09338709 core:SharePremium 2023-06-30 09338709 core:OtherCapitalReserve 2024-06-30 09338709 core:OtherCapitalReserve 2023-06-30 09338709 core:RetainedEarningsAccumulatedLosses 2024-06-30 09338709 core:RetainedEarningsAccumulatedLosses 2023-06-30 09338709 core:CostValuation 2023-06-30 09338709 core:CostValuation 2024-06-30 09338709 2023-07-01 2024-06-30 09338709 bus:FilletedAccounts 2023-07-01 2024-06-30 09338709 bus:SmallEntities 2023-07-01 2024-06-30 09338709 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 09338709 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09338709 bus:Director1 2023-07-01 2024-06-30 09338709 bus:Director2 2023-07-01 2024-06-30 09338709 bus:Director3 2023-07-01 2024-06-30 09338709 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Company No: 09338709 (England and Wales)

RTS GROUP LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

RTS GROUP LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

RTS GROUP LTD

BALANCE SHEET

As at 30 June 2024
RTS GROUP LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Investments 4 827,023 827,023
827,023 827,023
Current assets
Debtors 5 700 0
Cash at bank and in hand 0 4
700 4
Creditors: amounts falling due within one year 6 ( 427,902) ( 420,104)
Net current liabilities (427,202) (420,100)
Total assets less current liabilities 399,821 406,923
Net assets 399,821 406,923
Capital and reserves
Called-up share capital 9,852 9,852
Share premium account 276,923 276,923
Other reserves 6,099 6,099
Profit and loss account 106,947 114,049
Total shareholders' funds 399,821 406,923

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 financial statements of RTS Group Ltd (registered number: 09338709) were approved and authorised for issue by the Board of Directors on 20 November 2024. They were signed on its behalf by:

M D Smith
Director
RTS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
RTS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

RTS Group Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Level 0, Unit 4 Greenways Business Park, Bellinger Close, Chippenham, SN15 1BN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors manage the working capital of the group of companies on a consolidated basis. They have assessed the balance sheets and likely future cash flows as the date of approving these financial statements. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of approving these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for dividend income and management charges receivable provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover is recognised when the dividends and management charges become payable to the company.

Share-based payment

Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line basis over the vesting period, based on the Company’s estimate of shares that will eventually vest and adjusted for the effect of non-market-based vesting conditions.

Fair value is measured by use the the directors using a model which is considered by management to be the most appropriate method of valuation. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations.

Cancellations or settlements (including those resulting from employee redundancies) are treated as an acceleration of vesting and the amount that would have been recognised over the remaining vesting period is recognised immediately.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Share-based payments

Equity-settled share-based payment schemes

The company granted 873 share options in 2021 at an exercise price of £10.82. During the year, 0 share options were exercised and 0 share options lapsed or were forfeited. There were 683 outstanding options at the year-end.

The contractual life of the options is 10 years. There are no cash settlement alternatives.

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 July 2023 827,023
At 30 June 2024 827,023
Carrying value at 30 June 2024 827,023
Carrying value at 30 June 2023 827,023

The subsidiaries of RTS Group Ltd recognised in these accounts are as follows:

Fimtrac F&I and Compliance Limited
Level 0, Unit 4 Greenways Business Park, Bellinger Close, Chippenham, United Kingdom, SN15 1BN

RTS Consultants (UK) Ltd.
Level 0, Unit 4 Greenways Business Park, Bellinger Close, Chippenham, United Kingdom, SN15 1BN

5. Debtors

2024 2023
£ £
Other debtors 700 0

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 6,000 4,836
Amounts owed to Group undertakings 419,629 412,994
Other creditors 2,273 2,274
427,902 420,104