Registered number
05480184
RS Civil Engineering Ltd
Filleted Accounts
30 June 2024
RS Civil Engineering Ltd
Registered number: 05480184
Balance Sheet
as at 30 June 2024
As restated
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 87,202 111,668
Current assets
Stocks 389,124 336,835
Debtors 5 625,665 528,985
Cash at bank and in hand 6,914 144,429
1,021,703 1,010,249
Creditors: amounts falling due within one year 6 (746,213) (790,072)
Net current assets 275,490 220,177
Total assets less current liabilities 362,692 331,845
Creditors: amounts falling due after more than one year 7 (11,531) (30,649)
Provisions for liabilities - (21,217)
Net assets 351,161 279,979
Capital and reserves
Called up share capital 100 100
Profit and loss account 351,061 279,879
Shareholders' funds 351,161 279,979
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr RJ Simmons
Director
Approved by the board on 11 February 2025
RS Civil Engineering Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 30 30
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 30,000
At 30 June 2024 30,000
Amortisation
At 1 July 2023 30,000
At 30 June 2024 30,000
Net book value
At 30 June 2024 -
Goodwill has been fully written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 156,205 154,299 310,504
Additions 3,125 - 3,125
At 30 June 2024 159,330 154,299 313,629
Depreciation
At 1 July 2023 91,228 107,608 198,836
Charge for the year 15,918 11,673 27,591
At 30 June 2024 107,146 119,281 226,427
Net book value
At 30 June 2024 52,184 35,018 87,202
At 30 June 2023 64,977 46,691 111,668
As restated
5 Debtors 2024 2023
£ £
Trade debtors 537,536 449,013
Other debtors 88,129 79,972
625,665 528,985
As restated
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 17,269 10,000
Obligations under finance lease and hire purchase contracts 9,074 8,425
Trade creditors 200,289 192,737
Taxation and social security costs 48,267 28,347
Other creditors 471,314 550,563
746,213 790,072
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,956 20,000
Obligations under finance lease and hire purchase contracts 1,575 10,649
11,531 30,649
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 93,333 -
9 Related party transactions
RJS Plant Hire Ltd is a related party of RS Civil Engineering Ltd as Mr RJ Simmons and Mrs HJ Simmons own 100% of the issued share capital of both companies. There was an amount due of £428,347 (2023: £485,529) to RJS Plant Hire Ltd at the year end.
10 Prior period adjustment
Intercompany balances of £1,946,861 that were included in trade creditors have been offfset
against the intercompany debtor and now sits as a net balance of £428,347 in other creditors.
This has impacted other debtors, other creditors and trade creditor balances.
This is a disclosure adjustment only and does not impact on net assets or profitability.
11 Other information
RS Civil Engineering Ltd is a private company limited by shares and incorporated in England. Its registered office is:
50 Weelsby Road
Grimsby
DN32 0PR
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