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Filleted

Registration number: 07462923

RDH Contractors Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

RDH Contractors Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 13

 

RDH Contractors Limited

Company Information

Directors

Mr R T E Davies

Mrs C L Davies

Mr L Davies

Registered office

Unit 15
Llandeilo Road Ind Est
Llandybie
Ammanford
SA18 3JG

 

RDH Contractors Limited

(Registration number: 07462923)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

159,250

180,250

Tangible assets

6

688,947

755,874

 

848,197

936,124

Current assets

 

Debtors

7

373,935

320,963

Cash at bank and in hand

 

173,293

147,828

 

547,228

468,791

Creditors: Amounts falling due within one year

8

(560,798)

(523,978)

Net current liabilities

 

(13,570)

(55,187)

Total assets less current liabilities

 

834,627

880,937

Creditors: Amounts falling due after more than one year

8

(371,951)

(486,566)

Provisions for liabilities

(171,802)

(188,506)

Net assets

 

290,874

205,865

Capital and reserves

 

Called up share capital

275

275

Profit and loss account

290,599

205,590

Total equity

 

290,874

205,865

For the financial year ending 30 June 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

RDH Contractors Limited

(Registration number: 07462923)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 18 March 2025 and signed on its behalf by:
 

.........................................
Mr R T E Davies
Director

.........................................
Mrs C L Davies
Director

.........................................
Mr L Davies
Director

     
 

RDH Contractors Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
Unit 15
Llandeilo Road Ind Est
Llandybie
Ammanford
SA18 3JG

These financial statements were authorised for issue by the Board on 18 March 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

RDH Contractors Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

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.

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

Garage plant and equipment

25% reducing balance basis

Fixture and fittings

25% reducing balance basis

Motor vehicles

25% reducing balance basis

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

10% 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.

 

RDH Contractors Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

RDH Contractors Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

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 27 (2023 - 20).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

162,981

179,866

Amortisation expense

21,000

21,000

 

RDH Contractors Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

210,000

210,000

At 30 June 2024

210,000

210,000

Amortisation

At 1 July 2023

29,750

29,750

Amortisation charge

21,000

21,000

At 30 June 2024

50,750

50,750

Carrying amount

At 30 June 2024

159,250

159,250

At 30 June 2023

180,250

180,250

6

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

26,226

238,495

1,556,541

1,821,262

Additions

-

60,000

36,055

96,055

At 30 June 2024

26,226

298,495

1,592,596

1,917,317

Depreciation

At 1 July 2023

16,113

83,296

965,979

1,065,388

Charge for the year

2,528

45,050

115,404

162,982

At 30 June 2024

18,641

128,346

1,081,383

1,228,370

Carrying amount

At 30 June 2024

7,585

170,149

511,213

688,947

At 30 June 2023

10,113

155,199

590,562

755,874

 

RDH Contractors Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

303,846

288,086

Amounts owed by group undertakings and undertakings in which the company has a participating interest

11

50,000

-

Prepayments

 

10,234

16,209

Other debtors

 

9,855

16,668

 

373,935

320,963

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

192,438

175,938

Trade creditors

 

68,902

82,284

Taxation and social security

 

126,658

156,833

Other related parties

 

78,621

81,808

Outstanding defined contribution pension costs

 

1,995

2,131

Corporation tax liability

 

65,653

-

Other creditors

 

26,531

24,984

 

560,798

523,978

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

371,951

486,566

9

Share capital

Allotted, called up and fully paid shares

 

RDH Contractors Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

A Ordinary shares of £1 each

100

100

100

100

B Ordinary shares of £1 each

75

75

75

75

 

275

275

275

275

 

RDH Contractors Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

9,167

19,167

HP and finance lease liabilities

353,784

458,399

Other borrowings

9,000

9,000

371,951

486,566

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,000

10,000

HP and finance lease liabilities

182,438

165,938

192,438

175,938

11

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Other payments made to company by director
£

At 30 June 2024
£

Mr R T E Davies

Interest free loan repayable on demand

(81,401)

2,781

(78,621)

       
     

Mr L Davies

Interest free loan repayable on demand

(406)

10,261

9,854

       
     

 

 

RDH Contractors Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

2023

At 1 July 2022
£

Other payments made to company by director
£

At 30 June 2023
£

Mr R T E Davies

Interest free loan repayable on demand

(117,457)

36,056

(81,401)

       
     

Mr L Davies

Interest free loan repayable on demand

14,736

(15,143)

(406)

       
     

 

RDH Contractors Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

 

Summary of transactions with other related parties

TJC Lifting Gear Ltd
 At the balance sheet date £50,000 was owed from TJC Lifting Gear Ltd (2023: £0)