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Registration number: 05416568

RTK Stamford Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

RTK Stamford Ltd

(Registration number: 05416568)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

18,334

36,667

Tangible assets

6

15,101

18,215

 

33,435

54,882

Current assets

 

Stocks

7

35,257

20,000

Debtors

8

55,261

53,918

Cash at bank and in hand

 

82,630

120,960

 

173,148

194,878

Creditors: Amounts falling due within one year

9

(175,938)

(169,464)

Net current (liabilities)/assets

 

(2,790)

25,414

Total assets less current liabilities

 

30,645

80,296

Provisions for liabilities

(3,775)

(3,297)

Net assets

 

26,870

76,999

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

26,770

76,899

Shareholders' funds

 

26,870

76,999

 

RTK Stamford Ltd

(Registration number: 05416568)
Balance Sheet as at 31 March 2024

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board for issue on 13 March 2025 and signed on its behalf by:
 

.........................................

R H B Thain

Director

 

RTK Stamford Ltd

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

100

76,899

76,999

Profit for the year

-

408,472

408,472

Dividends

-

(458,601)

(458,601)

At 31 March 2024

100

26,770

26,870

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

100

124,187

124,287

Profit for the year

-

369,537

369,537

Dividends

-

(416,825)

(416,825)

New share capital subscribed

20

-

20

Other share capital movements

(20)

-

(20)

At 31 March 2023

100

76,899

76,999

 

RTK Stamford Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
20 Belton Street
Stamford
Lincolnshire
PE9 2EF

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

RTK Stamford Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

25% reducing balance

Improvements to property

10% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

£15,250 per annum

Website development

3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

RTK Stamford Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2023 - 20).

 

RTK Stamford Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

5,087

5,709

Amortisation expense

18,333

18,333

5

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 April 2023

305,000

9,250

314,250

At 31 March 2024

305,000

9,250

314,250

Amortisation

At 1 April 2023

274,500

3,083

277,583

Amortisation charge

15,250

3,083

18,333

At 31 March 2024

289,750

6,166

295,916

Carrying amount

At 31 March 2024

15,250

3,084

18,334

At 31 March 2023

30,500

6,167

36,667

 

RTK Stamford Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

6

Tangible assets

Office alterations
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

27,983

35,483

63,466

Additions

-

1,973

1,973

At 31 March 2024

27,983

37,456

65,439

Depreciation

At 1 April 2023

26,722

18,529

45,251

Charge for the year

594

4,493

5,087

At 31 March 2024

27,316

23,022

50,338

Carrying amount

At 31 March 2024

667

14,434

15,101

At 31 March 2023

1,261

16,954

18,215

7

Stocks

2024
£

2023
£

Work in progress

35,257

20,000

8

Debtors

Current

2024
£

2023
£

Trade debtors

29,380

30,792

Prepayments

14,457

12,071

Other debtors

11,424

11,055

 

55,261

53,918

 

RTK Stamford Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

12,911

7,834

Taxation and social security

 

75,417

79,301

Other creditors

 

87,610

82,329

 

175,938

169,464

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

Ordinary A shares of £1 each

40

40

40

40

Ordinary B shares of £1 each

14

14

14

14

Ordinary C shares of £1 each

25

25

25

25

Ordinary D shares of £1 each

10

10

10

10

Ordinary E shares of £1 each

10

10

10

10

100

100

100

100

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £104,045 (2023 - £103,927). The commitments are in respect of vehicle leases and property rental obligations.