3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC213914 2023-04-01 2024-03-31 SC213914 2024-03-31 SC213914 2023-03-31 SC213914 2022-04-01 2023-03-31 SC213914 2023-03-31 SC213914 2022-03-31 SC213914 core:PlantMachinery 2023-04-01 2024-03-31 SC213914 core:FurnitureFittings 2023-04-01 2024-03-31 SC213914 core:MotorVehicles 2023-04-01 2024-03-31 SC213914 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC213914 bus:Director1 2023-04-01 2024-03-31 SC213914 core:LandBuildings 2023-03-31 SC213914 core:PlantMachinery 2023-03-31 SC213914 core:FurnitureFittings 2023-03-31 SC213914 core:MotorVehicles 2023-03-31 SC213914 core:LandBuildings 2024-03-31 SC213914 core:PlantMachinery 2024-03-31 SC213914 core:FurnitureFittings 2024-03-31 SC213914 core:MotorVehicles 2024-03-31 SC213914 core:LandBuildings 2023-04-01 2024-03-31 SC213914 core:WithinOneYear 2024-03-31 SC213914 core:WithinOneYear 2023-03-31 SC213914 core:ShareCapital 2024-03-31 SC213914 core:ShareCapital 2023-03-31 SC213914 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC213914 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC213914 core:LandBuildings 2023-03-31 SC213914 core:PlantMachinery 2023-03-31 SC213914 core:FurnitureFittings 2023-03-31 SC213914 core:MotorVehicles 2023-03-31 SC213914 bus:SmallEntities 2023-04-01 2024-03-31 SC213914 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC213914 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC213914 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC213914 bus:FullAccounts 2023-04-01 2024-03-31 SC213914 bus:OrdinaryShareClass1 2024-03-31 SC213914 bus:OrdinaryShareClass1 2023-03-31 SC213914 core:OfficeEquipment 2023-04-01 2024-03-31 SC213914 core:OfficeEquipment 2023-03-31 SC213914 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: SC213914
RKM JOINERY LTD
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
RKM JOINERY LTD
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
393,072
171,480
Current assets
Debtors
6
304,429
286,556
Cash at bank and in hand
887,349
1,141,308
------------
------------
1,191,778
1,427,864
Creditors: amounts falling due within one year
7
172,948
264,872
------------
------------
Net current assets
1,018,830
1,162,992
------------
------------
Total assets less current liabilities
1,411,902
1,334,472
------------
------------
Net assets
1,411,902
1,334,472
------------
------------
Capital and reserves
Called up share capital
8
2
2
Profit and loss account
1,411,900
1,334,470
------------
------------
Shareholders funds
1,411,902
1,334,472
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
RKM JOINERY LTD
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
R K Meiklem
Director
Company registration number: SC213914
The main place of business is 3 Bertha Park View, Inveralmond Industrial Estate, Perth, PH1 3JE.
RKM JOINERY LTD
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 40 Muirend Road, Perth, PH1 1JU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Equipment
-
15% reducing balance
Fixtures & Fittings
-
15% reducing balance
Motor Vehicle
-
25% reducing balance
Office Equipment
-
33% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments, including trade debtors and creditors paid under normal credit terms, are initially recognised at the transaction price. Such financial instruments are subsequently measured at amortised cost. Other financial instruments are measured at fair value, with any changes recognised in profit or loss, with the exception of directors' loans, which are measured at transaction value. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
153,740
89,294
11,752
16,121
4,171
275,078
Additions
224,535
224,535
---------
--------
--------
--------
-------
---------
At 31 Mar 2024
378,275
89,294
11,752
16,121
4,171
499,613
---------
--------
--------
--------
-------
---------
Depreciation
At 1 Apr 2023
75,386
9,891
15,214
3,107
103,598
Charge for the year
2,086
279
227
351
2,943
---------
--------
--------
--------
-------
---------
At 31 Mar 2024
77,472
10,170
15,441
3,458
106,541
---------
--------
--------
--------
-------
---------
Carrying amount
At 31 Mar 2024
378,275
11,822
1,582
680
713
393,072
---------
--------
--------
--------
-------
---------
At 31 Mar 2023
153,740
13,908
1,861
907
1,064
171,480
---------
--------
--------
--------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
43,200
25,327
Other debtors
261,229
261,229
---------
---------
304,429
286,556
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,870
Social security and other taxes
77,921
73,348
Other creditors
95,027
189,654
---------
---------
172,948
264,872
---------
---------
8. Called up share capital
Authorised share capital
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100,000
100,000
100,000
100,000
---------
---------
---------
---------
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----