Company registration number 06293177 (England and Wales)
RVMS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
RVMS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
RVMS LTD (REGISTERED NUMBER: 06293177)
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
600
153
Investment property
5
300,000
285,000
300,600
285,153
Current assets
Debtors
6
364
552
Cash at bank and in hand
25,990
26,751
26,354
27,303
Creditors: amounts falling due within one year
7
(42,901)
(37,720)
Net current liabilities
(16,547)
(10,417)
Total assets less current liabilities
284,053
274,736
Provisions for liabilities
(16,342)
(12,592)
Net assets
267,711
262,144
Capital and reserves
Called up share capital
2
2
Non-distributable profits reserve
8
65,192
53,942
Distributable profit and loss reserves
202,517
208,200
Total equity
267,711
262,144
The directors of the company have 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 directors acknowledge their 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.
RVMS LTD (REGISTERED NUMBER: 06293177)
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
Mrs M Smith
Mr L Smith
Director
Director
RVMS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
RVMS Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 10 Upper Grosvenor Road, Tunbridge Wells, England, TN1 2EP.
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 £1.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
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:
Fixtures, fittings & equipment
25% straight line
Computer equipment
33% straight line
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.
1.4
Investment property
Investment property, which is property held to earn rentals and for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
RVMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Investment property valuation
Investment property is valued at fair value on the basis of directors' estimates and judgements. Valuations are made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors do not consider it necessary to obtain a valuation by an independent valuer.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
RVMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
4
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
Cost
At 1 July 2023
645
5,030
5,675
Additions
339
349
688
At 30 June 2024
984
5,379
6,363
Depreciation and impairment
At 1 July 2023
572
4,950
5,522
Depreciation charged in the year
54
187
241
At 30 June 2024
626
5,137
5,763
Carrying amount
At 30 June 2024
358
242
600
At 30 June 2023
73
80
153
5
Investment property
2024
£
Fair value
At 1 July 2023
285,000
Revaluations
15,000
At 30 June 2024
300,000
Investment property comprises properties at fair value of £300,000. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors as described in note 2.
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
364
552
RVMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
102
Other creditors
42,799
37,720
42,901
37,720
8
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
53,942
56,964
Non distributable profits in the year
11,250
(3,022)
At the end of the year
65,192
53,942