Company registration number 12027484 (England and Wales)
RRS STORAGE & DISTRIBUTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
RRS STORAGE & DISTRIBUTION LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
RRS STORAGE & DISTRIBUTION LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RRS STORAGE & DISTRIBUTION LIMITED FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RRS Storage & Distribution Limited for the year ended 30 June 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of RRS Storage & Distribution Limited, as a body, in accordance with the terms of our engagement letter dated 24 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of RRS Storage & Distribution Limited and state those matters that we have agreed to state to the board of directors of RRS Storage & Distribution Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RRS Storage & Distribution Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that RRS Storage & Distribution Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of RRS Storage & Distribution Limited. You consider that RRS Storage & Distribution Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of RRS Storage & Distribution Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carpenter Box
14 January 2025
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
RRS STORAGE & DISTRIBUTION LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
41,094
83,729
Current assets
Stocks
1,176
-
Debtors
4
433,247
306,837
Cash at bank and in hand
21,440
37,788
455,863
344,625
Creditors: amounts falling due within one year
5
(116,808)
(223,667)
Net current assets
339,055
120,958
Total assets less current liabilities
380,149
204,687
Creditors: amounts falling due after more than one year
6
(14,583)
(25,854)
Provisions for liabilities
(5,348)
(8,528)
Net assets
360,218
170,305
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
360,118
170,205
Total equity
360,218
170,305

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

RRS STORAGE & DISTRIBUTION LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 14 January 2025
Mr P Barber
Director
Company registration number 12027484 (England and Wales)
RRS STORAGE & DISTRIBUTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

RRS Storage & Distribution Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 Dundas Lane, Portsmouth, Hants, PO3 5SD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Notwithstanding the nettrue current liability position at 30 June 2024, the director had a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This is based on the continued support of the associated companies that are under common control by the director and other financing arrangements and no adjustment has been made that would result from a withdrawal of their support.

 

At the time of approving the financial statements, the director had considered relevant information, including the company’s principal risks and uncertainties, and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the entity, the director had concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

 

1.3
Turnover

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

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the term of the lease
Fixtures and fittings
25% diminishing balance and 33% straight line per annum
Motor vehicles
33% diminishing balance per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

RRS STORAGE & DISTRIBUTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
1.6
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.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

RRS STORAGE & DISTRIBUTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2023 - 1).

3
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2023
38,047
62,332
54,270
154,649
Disposals
(38,047)
-
0
-
0
(38,047)
At 30 June 2024
-
0
62,332
54,270
116,602
Depreciation and impairment
At 1 July 2023
12,457
39,301
19,162
70,920
Depreciation charged in the year
-
0
6,169
10,876
17,045
Eliminated in respect of disposals
(12,457)
-
0
-
0
(12,457)
At 30 June 2024
-
0
45,470
30,038
75,508
Carrying amount
At 30 June 2024
-
0
16,862
24,232
41,094
At 30 June 2023
25,590
23,031
35,108
83,729
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
109,910
180,385
Amounts owed by group undertakings
301,286
-
0
Other debtors
22,051
126,452
433,247
306,837
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,421
43,768
Amounts owed to group undertakings
-
0
55,670
Taxation and social security
89,854
8,084
Other creditors
23,533
116,145
116,808
223,667
RRS STORAGE & DISTRIBUTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
14,583
25,854

Included within other creditors in notes 5 and 6 above are amounts due under hire purchase contracts, secured over the assets to which they relate.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Director's loan
-
50,000
(50,000)
-
50,000
(50,000)
-
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