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REGISTERED NUMBER: 03929564 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29th February 2024

for

R T C Corporation Limited

R T C Corporation Limited (Registered number: 03929564)






Contents of the Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


R T C Corporation Limited

Company Information
for the Year Ended 29th February 2024







DIRECTORS: Dr A Khosravi-Rad
A Poustian





REGISTERED OFFICE: Unit 3
Hampstead Gate
1A Frognal
London
NW3 6AL





REGISTERED NUMBER: 03929564 (England and Wales)





ACCOUNTANTS: Spencer Hyde Limited
272 Regents Park Road
London
N3 3HN

R T C Corporation Limited (Registered number: 03929564)

Statement of Financial Position
29th February 2024

2024 2023
Notes €    €    €    €   
FIXED ASSETS
Tangible assets 4 1,096,307 1,100,638

CURRENT ASSETS
Debtors 5 12,787,642 25,049,784
Cash at bank and in hand 125,508 249,933
12,913,150 25,299,717
CREDITORS
Amounts falling due within one year 6 10,624,481 22,582,763
NET CURRENT ASSETS 2,288,669 2,716,954
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,384,976

3,817,592

CREDITORS
Amounts falling due after more than one
year

7

2,350,372

2,819,136
NET ASSETS 1,034,604 998,456

CAPITAL AND RESERVES
Called up share capital 3,000,131 3,000,131
Retained earnings (1,965,527 ) (2,001,675 )
SHAREHOLDERS' FUNDS 1,034,604 998,456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

R T C Corporation Limited (Registered number: 03929564)

Statement of Financial Position - continued
29th February 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 21st January 2025 and were signed on its behalf by:





A Poustian - Director


R T C Corporation Limited (Registered number: 03929564)

Notes to the Financial Statements
for the Year Ended 29th February 2024

1. STATUTORY INFORMATION

R T C Corporation Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Euro (€).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in accordance with the going concern convention on the basis that continued financial support will be made available by the the company's bankers, creditors, the companies within the group.

Turnover
The company acts as agents and the turnover represents the commission earned. Commission is recognised as revenue on the receipts of goods by the principal.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 1% on cost
Plant and machinery etc - 25% on reducing balance, 25% on cost and 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into € at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into € at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

R T C Corporation Limited (Registered number: 03929564)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
€    €    €   
COST
At 1st March 2023
and 29th February 2024 1,137,331 443,486 1,580,817
DEPRECIATION
At 1st March 2023 42,649 437,530 480,179
Charge for year 2,843 1,488 4,331
At 29th February 2024 45,492 439,018 484,510
NET BOOK VALUE
At 29th February 2024 1,091,839 4,468 1,096,307
At 28th February 2023 1,094,682 5,956 1,100,638

Included in cost of land and buildings is freehold land of € 852,998 (2023 - € 852,998 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
€    €   
Amounts owed by group undertakings 8,709,189 4,439,058
Other debtors 4,078,453 20,610,726
12,787,642 25,049,784

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
€    €   
Bank loans and overdrafts 824,383 10,539,496
Trade creditors 4,595,409 143,653
Taxation and social security 19,732 31,937
Other creditors 5,184,957 11,867,677
10,624,481 22,582,763

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
€    €   
Bank loans 2,350,372 2,819,136

R T C Corporation Limited (Registered number: 03929564)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
€    €   
Bank loans 3,174,755 13,208,805

The bank loan is secured by charges on the companies assets.

9. RELATED PARTY DISCLOSURES

The consolidated financial statements of RTC Holdings Limited, within which the company is included, can be obtained from Companies House.