1 March 2023 v2024.64.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPSC5576992023-03-012024-02-28SC5576992024-02-28SC5576992023-02-28SC557699core:WithinOneYear2024-02-28SC557699core:WithinOneYear2023-02-28SC557699core:ShareCapital2024-02-28SC557699core:ShareCapital2023-02-28SC557699core:RetainedEarningsAccumulatedLosses2024-02-28SC557699core:RetainedEarningsAccumulatedLosses2023-02-28SC557699bus:Director12023-03-012024-02-28SC557699bus:RegisteredOffice2023-03-012024-02-28SC557699core:MotorVehicles2023-03-012024-02-28SC557699core:OfficeEquipment2023-03-012024-02-28SC5576992022-03-012023-02-28SC557699core:PlantMachinery2024-02-28SC557699core:PlantMachinery2023-03-01SC557699core:PlantMachinery2023-03-012024-02-28SC557699core:PlantMachinery2023-02-28SC55769912023-03-012024-02-28SC557699countries:Scotland2023-03-012024-02-28SC557699bus:AuditExemptWithAccountantsReport2023-03-012024-02-28SC557699bus:PrivateLimitedCompanyLtd2023-03-012024-02-28SC557699bus:SmallEntities2023-03-012024-02-28SC557699bus:FullAccounts2023-03-012024-02-28
Company registration number:
SC557699
RIL Glasgow Ltd
Unaudited Filleted Financial Statements for the year ended
28 February 2024
RIL Glasgow Ltd
Statement of Financial Position
28 February 2024
20242023
Note££
Fixed assets    
Tangible assets 5
28,331
 
34,402
 
Current assets    
Stocks
46,500
 
36,500
 
Debtors 6
311,583
 
311,337
 
Cash at bank and in hand
717,785
 
589,841
 
1,075,868
 
937,678
 
Creditors: amounts falling due within one year 7
(178,709
)
(165,908
)
Net current assets
897,159
 
771,770
 
Total assets less current liabilities 925,490   806,172  
Capital and reserves    
Called up share capital
10
 
10
 
Profit and loss account
925,480
 
806,162
 
Shareholders funds
925,490
 
806,172
 
For the year ending
28 February 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
29 November 2024
, and are signed on behalf of the board by:
Mr Rawshan Singh
Director
Company registration number:
SC557699
RIL Glasgow Ltd
Notes to the Financial Statements
Year ended
28 February 2024

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
Unit 3 St Andrews House
,
385 Hillington Road
,
Glasgow
,
G52 4BL
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

Current tax

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.

Tangible assets

Tangible assets are measured at cost less any accumulated depreciation.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Motor vehicles
15% straight line
Office equipment
15% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

4 Average number of employees

The average number of persons employed by the company during the year was
3
(2023:
3.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 March 2023
and
28 February 2024
40,473
 
Depreciation  
At
1 March 2023
6,071
 
Charge
6,071
 
At
28 February 2024
12,142
 
Carrying amount  
At
28 February 2024
28,331
 
At 28 February 2023
34,402
 

6 Debtors

20242023
££
Amounts owed by group undertakings and undertakings in which the company has a participating interest
311,007
 
311,007
 
Other debtors
576
 
330
 
311,583
 
311,337
 

7 Creditors: amounts falling due within one year

20242023
££
Trade creditors
60,745
 
53,334
 
Taxation and social security
65,654
 
63,461
 
Other creditors
52,310
 
49,113
 
178,709
 
165,908