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REGISTERED NUMBER: 13716634 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

RTS PROJECTS LIMITED

RTS PROJECTS LIMITED (REGISTERED NUMBER: 13716634)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RTS PROJECTS LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: S L Galer-Rose
D L Rose





REGISTERED OFFICE: 13 St John's Business Park
Lutterworth
Leicestershire
LE17 4HB





REGISTERED NUMBER: 13716634 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

RTS PROJECTS LIMITED (REGISTERED NUMBER: 13716634)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 5,114,634 5,072,473
Cash at bank and in hand 24,206 37,383
5,138,840 5,109,856
CREDITORS
Amounts falling due within one year 5 (5,121,339 ) (5,089,663 )
NET CURRENT ASSETS 17,501 20,193
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,501

20,193

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 17,401 20,093
SHAREHOLDERS' FUNDS 17,501 20,193

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





D L Rose - Director


RTS PROJECTS LIMITED (REGISTERED NUMBER: 13716634)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024


1. STATUTORY INFORMATION

RTS Projects Limited is a limited company, registered in England and Wales. Its registered office address is 13 St John's Business Park, Lutterworth, Leicestershire, United Kingdom, LE17 4HB and the registered number is 13716634.

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 presentation currency of the financial statements is pound sterling (£) and figures are rounded to the nearest £1.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Contracts in progress
The policy used to determine the contract revenue recognised in the period is the percentage of completion method. The method used to determine the percentage of completion is to obtain third party surveys of the work performed.

Short-term contract work in progress is stated at cost.

Attributable profit is taken when the outcome of long-term contracts can be assessed with reasonable certainty and is included within amounts recoverable on contracts. Profit is then attributed on the basis of the percentage of work completed. Provisions are made in full for any foreseeable losses on contracts. Advance payments received from customers are shown as payments received on account and are included in creditors until there is a right to set off against the value of work undertaken.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


RTS PROJECTS LIMITED (REGISTERED NUMBER: 13716634)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,081,848 2,038,858
Other debtors 2,032,786 3,033,615
5,114,634 5,072,473

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,051,760 3,913,224
Taxation and social security 11,477 520,555
Other creditors 1,058,102 655,884
5,121,339 5,089,663

6. RELATED PARTY DISCLOSURES

During the year purchases were made from companies with common directorship amounting to £480,525 (2023: £3,830,918). At the year end £1,526,516 (2023: £1,133,416 ) was owed to this company.