Company registration number 13412570 (England and Wales)
RM HOLDINGS (SOUTH WEST) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
RM HOLDINGS (SOUTH WEST) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
RM HOLDINGS (SOUTH WEST) LTD
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
815
380
Current assets
Debtors
4
4,959
300
Cash at bank and in hand
17,679
-
0
22,638
300
Creditors: amounts falling due within one year
5
(2,885)
(19,850)
Net current assets/(liabilities)
19,753
(19,550)
Net assets/(liabilities)
20,568
(19,170)
Capital and reserves
Called up share capital
400
400
Profit and loss reserves
6
20,168
(19,570)
Total equity
20,568
(19,170)

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 25 February 2025
Mr R Hopkins
Director
Company registration number 13412570 (England and Wales)
RM HOLDINGS (SOUTH WEST) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

RM Holdings (South West) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Millennium House, Brannam Crescent, Roundswell Business Park, Barnstaple, Devon, United Kingdom, EX31 3TD.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

RM HOLDINGS (SOUTH WEST) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
815
380
Fixed asset investments not carried at market value

Investments are included at cost.

RM HOLDINGS (SOUTH WEST) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in associates
£
Cost or valuation
At 1 June 2023
380
Additions
715
Disposals
(280)
At 31 May 2024
815
Carrying amount
At 31 May 2024
815
At 31 May 2023
380
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
4,959
300
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
-
0
1,309
Corporation tax
7,091
-
0
Other taxation and social security
4,332
-
0
Other creditors
(8,538)
18,541
2,885
19,850
6
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
(19,570)
(13,058)
Profit/(loss) for the year
39,738
(6,512)
At the end of the year
20,168
(19,570)
7
Directors' transactions

Dividends totalling £0 (2023 - £0) were paid in the year in respect of shares held by the company's directors.

RM HOLDINGS (SOUTH WEST) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
7
Directors' transactions
(Continued)
- 5 -
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
A Director
2.25
-
23,667
259
23,926
-
23,667
259
23,926
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