1 September 2023 false No description of principal activity Taxfiler 2024.6 10316010business:PrivateLimitedCompanyLtd2023-09-012024-08-31 103160102023-08-31 103160102023-09-012024-08-31 10316010business:AuditExempt-NoAccountantsReport2023-09-012024-08-31 10316010business:FilletedAccounts2023-09-012024-08-31 103160102024-08-31 10316010business:Director12023-09-012024-08-31 10316010business:Director22023-09-012024-08-31 10316010business:RegisteredOffice2023-09-012024-08-31 103160102023-08-31 10316010core:WithinOneYear2024-08-31 10316010core:WithinOneYear2023-08-31 10316010core:AfterOneYear2024-08-31 10316010core:AfterOneYear2023-08-31 10316010core:ShareCapitalcore:PreviouslyStatedAmount2024-08-31 10316010core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 10316010core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-08-31 10316010core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 10316010core:PreviouslyStatedAmount2024-08-31 10316010core:PreviouslyStatedAmount2023-08-31 10316010business:SmallEntities2023-09-012024-08-31 10316010countries:EnglandWales2023-09-012024-08-31 10316010core:PlantMachinery2023-09-012024-08-31 10316010core:MotorVehicles2023-09-012024-08-31 10316010core:ComputerEquipment2023-09-012024-08-31 10316010core:PlantMachinery2023-08-31 10316010core:MotorVehicles2023-08-31 10316010core:ComputerEquipment2023-08-31 10316010core:PlantMachinery2024-08-31 10316010core:MotorVehicles2024-08-31 10316010core:ComputerEquipment2024-08-31 10316010core:MotorVehiclescore:LeasedAssetsHeldAsLessee2024-08-31 10316010core:MotorVehiclescore:LeasedAssetsHeldAsLessee2023-08-31 10316010core:WithinOneYear2023-09-012024-08-31 10316010core:AfterOneYear2023-09-012024-08-31 10316010business:OrdinaryShareClass12023-09-012024-08-31 10316010business:OrdinaryShareClass12022-09-012023-08-31 103160102022-09-012023-08-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 10316010 (England and Wales)
RC DEVELOPMENTS REYNOLDS COSTIN LIMITED Unaudited accounts for the year ended 31 August 2024
RC DEVELOPMENTS REYNOLDS COSTIN LIMITED Unaudited accounts Contents
Page
- 2 -
RC DEVELOPMENTS REYNOLDS COSTIN LIMITED Company Information for the year ended 31 August 2024
Directors
Lee Reynolds Craig Costin
Company Number
10316010 (England and Wales)
Registered Office
112-113 High Street Lincoln LN5 7PY UNITED KINGDOM
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA Templar Accounting & Business Support Services Limited (Incorp: Blake and Co ) 112 - 113 High Street, Lincoln, Lincolnshire LN5 7PY
- 3 -
RC DEVELOPMENTS REYNOLDS COSTIN LIMITED Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
30,044 
37,561 
Current assets
Debtors
21,946 
25,860 
Cash at bank and in hand
75,802 
76,367 
97,748 
102,227 
Creditors: amounts falling due within one year
(49,446)
(47,178)
Net current assets
48,302 
55,049 
Total assets less current liabilities
78,346 
92,610 
Creditors: amounts falling due after more than one year
(27,759)
(45,904)
Provisions for liabilities
Deferred tax
(5,652)
(7,375)
Net assets
44,935 
39,331 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
44,835 
39,231 
Shareholders' funds
44,935 
39,331 
For the year ending 31 August 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by
Lee Reynolds Director Company Registration No. 10316010
- 4 -
RC DEVELOPMENTS REYNOLDS COSTIN LIMITED Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
RC DEVELOPMENTS REYNOLDS COSTIN LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10316010. The registered office is 112-113 High Street, Lincoln, LN5 7PY, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Motor vehicles
20% Reducing balance
Computer equipment
25% Reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 5 -
RC DEVELOPMENTS REYNOLDS COSTIN LIMITED Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 September 2023
19,170 
44,968 
700 
64,838 
At 31 August 2024
19,170 
44,968 
700 
64,838 
Depreciation
At 1 September 2023
14,249 
12,428 
600 
27,277 
Charge for the year
984 
6,508 
25 
7,517 
At 31 August 2024
15,233 
18,936 
625 
34,794 
Net book value
At 31 August 2024
3,937 
26,032 
75 
30,044 
At 31 August 2023
4,921 
32,540 
100 
37,561 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
23,150 
28,938 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
1,573 
7,365 
Trade debtors
6,426 
4,961 
Other debtors
13,947 
13,534 
21,946 
25,860 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Obligations under finance leases and hire purchase contracts
8,145 
8,145 
Trade creditors
4,910 
4,104 
Taxes and social security
11,341 
10,019 
Loans from directors
403 
676 
Accruals
700 
700 
Deferred income
13,947 
13,534 
49,446 
47,178 
A BB Loan has been agreed of some £50,000 supported by the UK Government on a 6 year term. A capital holiday was in place for the 1st year with interest being contributed directly to the high street bank via the UK Government. As the loan is now live the following amount is now due within 12 mths = £10,000
- 6 -
RC DEVELOPMENTS REYNOLDS COSTIN LIMITED Notes to the Accounts for the year ended 31 August 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
7,500 
17,500 
Obligations under finance leases and hire purchase contracts
20,259 
28,404 
27,759 
45,904 
As the government secured BB Loan of some £50,000 is now live the follow amount is due after 12 mths being reported within long term liabilities. Yr. 2. £7,500
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Capital commitments
2024 
2023 
£ 
£ 
There were no future capital commitments to report.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
- 7 -