Registered number
04765752
RJMS Business Services Ltd
Filleted Accounts
31 May 2024
RJMS Business Services Ltd
Registered number: 04765752
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 32,458 21,487
Current assets
Work in progress 5,197 8,436
Debtors 5 4,006 7,372
Cash at bank and in hand 13,620 12,598
22,823 28,406
Creditors: amounts falling due within one year 6 (26,252) (27,128)
Net current (liabilities)/assets (3,429) 1,278
Total assets less current liabilities 29,029 22,765
Creditors: amounts falling due after more than one year 7 (21,126) (21,030)
Net assets 7,903 1,735
Capital and reserves
Called up share capital 100 100
Profit and loss account 7,803 1,635
Shareholders' funds 7,903 1,735
The directors are 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 directors acknowledge their 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 Roderick J Cumming
Director
Approved by the board on 20 February 2025
RJMS Business Services Ltd
Notes to the Accounts
for the year ended 31 May 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:
Computers, IT & Digital Equipment over 4 years
Office furniture & Equipment over 4 years
Motor vehicles over 6 years
Work in progress
At 31st May 2024, the Directors reviewed the uninvoiced work carried out and valued it to include the profit earned on each client's work.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 50,000
At 31 May 2024 50,000
Amortisation
At 1 June 2023 50,000
At 31 May 2024 50,000
Net book value
At 31 May 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Computers IT / Digital Equipment Office Furniture & Equipment Motor vehicles Total
£ £ £
Cost
At 1 June 2023 33,681 9,604 36,395 79,680
Additions 358 - 38950 39,308
Disposals - - (36,395) (36,395)
At 31 May 2024 34,039 9,604 38,950 82,593
Depreciation
At 1 June 2023 32,157 9,103 16,933 58,193
Charge for the year 1,882 501 6,492 8,875
On disposals - - (16,933) (16,933)
At 31 May 2024 34,039 9,604 6,492 50,135
Net book value
At 31 May 2024 - - 32,458 32,458
At 31 May 2023 1,524 501 19,462 21,487
5 Debtors 2024 2023
£ £
Trade debtors 750 4,072
Pre-payments 3,256 3,150
Other debtors - 150
4,006 7,372
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,339 2,546
Obligations under finance lease and hire purchase contracts 6,441 7,576
Trade creditors 8,103 8,332
Accrued charges 1,035 1,136
Taxation and social security costs 6,871 6,789
Other creditors 1,463 749
26,252 27,128
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,339 4,470
Obligations under finance lease and hire purchase contracts 18,787 6,560
Other creditors - 10,000
21,126 21,030
8 Other information
RJMS Business Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Silverfox House
35 Brooklands Crescent
Fulwood
Sheffield
South Yorkshire
S10 4GE
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