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COMPANY REGISTRATION NUMBER: 11417866
RDM Environmental Ltd
Filleted Unaudited Financial Statements
26 June 2023
RDM Environmental Ltd
Financial Statements
Period from 30 June 2022 to 26 June 2023
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
RDM Environmental Ltd
Statement of Financial Position
26 June 2023
26 Jun 23
29 Jun 22
Note
£
£
Fixed assets
Tangible assets
6
9,943
13,257
Current assets
Debtors
7
552,465
299,921
Cash at bank and in hand
2,014
---------
---------
554,479
299,921
Creditors: amounts falling due within one year
8
( 488,953)
( 264,667)
---------
---------
Net current assets
65,526
35,254
--------
--------
Total assets less current liabilities
75,469
48,511
Creditors: amounts falling due after more than one year
9
( 39,506)
( 47,163)
--------
--------
Net assets
35,963
1,348
--------
--------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
35,863
1,248
--------
-------
Shareholders funds
35,963
1,348
--------
-------
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 period ending 26 June 2023 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 period 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 .
RDM Environmental Ltd
Statement of Financial Position (continued)
26 June 2023
These financial statements were approved by the board of directors and authorised for issue on 13 December 2024 , and are signed on behalf of the board by:
Mr N L Hickman
Director
Company registration number: 11417866
RDM Environmental Ltd
Notes to the Financial Statements
Period from 30 June 2022 to 26 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Axis Court, Mallard Way, Riverside Business Park, Swansea, SA7 OAJ, Wales.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
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.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
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.
Taxation
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.
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:
Motor vehicles
-
25% 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 (2022: 3 ).
5. Tax on profit
Major components of tax expense
Period from
30 Jun 22 to
Year to
26 Jun 23
29 Jun 22
£
£
Current tax:
UK current tax expense
81,602
30,441
--------
--------
Tax on profit
81,602
30,441
--------
--------
6. Tangible assets
Motor vehicles
£
Cost
At 30 June 2022 and 26 June 2023
26,068
--------
Depreciation
At 30 June 2022
12,811
Charge for the period
3,314
--------
At 26 June 2023
16,125
--------
Carrying amount
At 26 June 2023
9,943
--------
At 29 June 2022
13,257
--------
7. Debtors
26 Jun 23
29 Jun 22
£
£
Trade debtors
50,269
24,000
Other debtors
502,196
275,921
---------
---------
552,465
299,921
---------
---------
Other debtors include an amount of £nil (2022 - £nil) falling due after more than one year.
8. Creditors: amounts falling due within one year
26 Jun 23
29 Jun 22
£
£
Bank loans and overdrafts
7,867
49
Trade creditors
39,548
12,069
Corporation tax
179,434
97,832
Social security and other taxes
238,514
146,917
Other creditors
23,590
7,800
---------
---------
488,953
264,667
---------
---------
9. Creditors: amounts falling due after more than one year
26 Jun 23
29 Jun 22
£
£
Bank loans and overdrafts
39,506
47,163
--------
--------
10. Called up share capital
Issued, called up and fully paid
26 Jun 23
29 Jun 22
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
11. Related party transactions
At the year end date the company was owed £463,117 (2022 - £250,333) by the directors.