RPS Contracts Midlands Ltd 09833083 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is the provision of construction contract services. Digita Accounts Production Advanced 6.30.9574.0 true true 09833083 2023-11-01 2024-10-31 09833083 2024-10-31 09833083 core:RetainedEarningsAccumulatedLosses 2024-10-31 09833083 core:ShareCapital 2024-10-31 09833083 core:CurrentFinancialInstruments 2024-10-31 09833083 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 09833083 core:Non-currentFinancialInstruments 2024-10-31 09833083 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 09833083 core:FurnitureFittings 2024-10-31 09833083 core:MotorVehicles 2024-10-31 09833083 bus:SmallEntities 2023-11-01 2024-10-31 09833083 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 09833083 bus:FilletedAccounts 2023-11-01 2024-10-31 09833083 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 09833083 bus:RegisteredOffice 2023-11-01 2024-10-31 09833083 bus:Director1 2023-11-01 2024-10-31 09833083 bus:Director2 2023-11-01 2024-10-31 09833083 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 09833083 core:FurnitureFittings 2023-11-01 2024-10-31 09833083 core:MotorVehicles 2023-11-01 2024-10-31 09833083 countries:England 2023-11-01 2024-10-31 09833083 2023-10-31 09833083 core:FurnitureFittings 2023-10-31 09833083 core:MotorVehicles 2023-10-31 09833083 2022-11-01 2023-10-31 09833083 2023-10-31 09833083 core:RetainedEarningsAccumulatedLosses 2023-10-31 09833083 core:ShareCapital 2023-10-31 09833083 core:CurrentFinancialInstruments 2023-10-31 09833083 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 09833083 core:Non-currentFinancialInstruments 2023-10-31 09833083 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 09833083 core:FurnitureFittings 2023-10-31 09833083 core:MotorVehicles 2023-10-31 iso4217:GBP xbrli:pure

Registration number: 09833083

RPS Contracts Midlands Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

RPS Contracts Midlands Ltd

(Registration number: 09833083)
Statement of Financial Position as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9,196

15,395

Current assets

 

Stocks

5

20,517

51,523

Debtors

6

143,252

143,292

Cash at bank and in hand

 

9

36

 

163,778

194,851

Creditors: Amounts falling due within one year

7

(177,280)

(169,430)

Net current (liabilities)/assets

 

(13,502)

25,421

Total assets less current liabilities

 

(4,306)

40,816

Creditors: Amounts falling due after more than one year

7

(51,183)

(112,897)

Net liabilities

 

(55,489)

(72,081)

Capital and reserves

 

Called up share capital

8

3

3

Retained earnings

(55,492)

(72,084)

Shareholders' deficit

 

(55,489)

(72,081)

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

RPS Contracts Midlands Ltd

(Registration number: 09833083)
Statement of Financial Position as at 31 October 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 November 2024 and signed on its behalf by:
 

.........................................
Mr R E Goulding
Director

.........................................
Mr S Farnell
Director

 

RPS Contracts Midlands Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 2 Long Lane Industrial Estate
Halesowen
West Midlands
B62 9LD

These financial statements were authorised for issue by the Board on 22 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

We draw attention to the financial statements which show that the company's liabilities exceed its total assets by £55,489. This indicates that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. However, the company continues to be supported by the directors and shareholders and for this reason, the financial statements have been prepared on a going concern basis.

Judgements

A judgement has been made that although there are significant doubts about going concern, there are mitigating actions judged sufficient to make going concern appropriate. After considering the feasibility and effectiveness of the company's actions including continued directors support, management conclude that the material uncertainties regarding going concern are expected to be mitigated.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

RPS Contracts Midlands Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance

Motor vehicles

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

RPS Contracts Midlands Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 3).

 

RPS Contracts Midlands Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

1,174

31,313

32,487

Disposals

-

(9,500)

(9,500)

At 31 October 2024

1,174

21,813

22,987

Depreciation

At 1 November 2023

453

16,639

17,092

Charge for the year

108

2,413

2,521

Eliminated on disposal

-

(5,822)

(5,822)

At 31 October 2024

561

13,230

13,791

Carrying amount

At 31 October 2024

613

8,583

9,196

At 31 October 2023

721

14,674

15,395

5

Stocks

2024
£

2023
£

Other inventories

20,517

51,523

6

Debtors

Current

2024
£

2023
£

Trade debtors

134,546

134,634

Prepayments

8,706

8,658

 

143,252

143,292

 

RPS Contracts Midlands Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

53,199

53,792

Trade creditors

 

63,456

41,765

Taxation and social security

 

38,725

61,268

Accruals and deferred income

 

501

-

Other creditors

 

21,399

12,605

 

177,280

169,430

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

5,833

32,897

Other non-current financial liabilities

 

45,350

80,000

 

51,183

112,897

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

3

3

3

3

       
 

RPS Contracts Midlands Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,833

32,897

Current loans and borrowings

2024
£

2023
£

Bank borrowings

30,151

31,500

Bank overdrafts

23,048

22,292

53,199

53,792