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REGISTERED NUMBER: 09537900 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

RBC Services (Addlestone One) Limited

RBC Services (Addlestone One) Limited (Registered number: 09537900)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RBC Services (Addlestone One) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Williams
E J Lyons
R Milstead





SECRETARY: S J Keenan





REGISTERED OFFICE: Runnymede Civic Centre
Station Road
Addlestone
Surrey
KT15 2AH





REGISTERED NUMBER: 09537900 (England and Wales)





AUDITORS: CSL Partnership Limited
Chartered Certified Accountants
Statutory Auditors
238 Station Road
Addlestone
Surrey
KT15 2PS

RBC Services (Addlestone One) Limited (Registered number: 09537900)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 - -
Investments 5 1 1
1 1

CURRENT ASSETS
Debtors 6 476,965 816,392
Cash at bank and in hand 780,377 530,669
1,257,342 1,347,061
CREDITORS
Amounts falling due within one year 7 (973,423 ) (1,132,476 )
NET CURRENT ASSETS 283,919 214,585
TOTAL ASSETS LESS CURRENT LIABILITIES 283,920 214,586

CREDITORS
Amounts falling due after more than one
year

8

(90,000

)

(90,000

)
NET ASSETS 193,920 124,586

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 193,820 124,486
SHAREHOLDERS' FUNDS 193,920 124,586

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





E J Lyons - Director


RBC Services (Addlestone One) Limited (Registered number: 09537900)

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


1. STATUTORY INFORMATION

RBC Services (Addlestone One) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis as the directors have a reasonable expectation that the company has access to adequate resources to continue in operation for the foreseeable future. That reasonable expectation is based on the following;

The company's parent is owned by Runnymede Borough Council (The Council).

The Council has provided all of the funding required to enable the group (of which the company is a member) to acquire its asset base as well as providing working capital funding as required.

The Council approved the group's business plans for the period to 31 March 2028 at a formal meeting of its Corporate Management Committee on 20 April 2023. Those business plans have subsequently been updated and the group has informed the Council that it will require financing to meet its cash flow requirements on a long term basis with some of this funding being required early in the 2025/26 financial year.

A report was taken to the Council's Corporate Management Committee in March 2025 setting out, amongst other items, options for refinancing the group. Members of the Council approved the recommendations in the report and those recommendations will now be enacted, subject to due diligence.

These financial statements do not contain any adjustments that may be needed should those recommendations not be enacted.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue
Revenue represents income from services provided, net of discounts and value added tax.

Revenue is measured at the fair value of the consideration receivable. The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Computer equipment - 20% on cost

RBC Services (Addlestone One) Limited (Registered number: 09537900)

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


2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 15,188 2,640 17,828
DEPRECIATION
At 1 April 2023
and 31 March 2024 15,188 2,640 17,828
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - -

RBC Services (Addlestone One) Limited (Registered number: 09537900)

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


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

6. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 362,013 387,616
Other debtors 114,952 379,967
Prepayments - 4,809
476,965 772,392

Amounts falling due after more than one year:
Amounts owed by group undertakings - 44,000

Aggregate amounts 476,965 816,392

At 31 March 2023, the company was owed £44,000 by its subsidiary company RBC Heat Company Limited under a loan facility agreement. The loan was repayable on 23 August 2028 and interest was charged at a fixed rate of 7.36% per annum, though the loan was repaid in full on 5 June 2023.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 89,602 372,837
Amounts owed to group undertakings 32,041 -
Tax - 6,972
VAT 31,442 48,377
Other creditors 657,041 254,756
Accruals and deferred income 163,297 449,534
973,423 1,132,476

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed to group undertakings 90,000 90,000

RBC Services (Addlestone One) Limited (Registered number: 09537900)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

At 31 March 2024, the company owed £90,000 to its parent company RBC Investments (Surrey) Limited in relation to a loan facility agreement. The loan is repayable 10 years from the date of utilisation and interest is charged at a fixed rate of 7.54% per annum on £10,000 and 7.36% on £80,000. The loan was utilised in May and August 2018.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 11,885 11,885
Between one and five years 47,540 47,540
In more than five years 166,389 178,274
225,814 237,699

The company is party to two lease agreements.

The first is a twenty-five year lease with no break clause. The lease terms were renegotiated in 2018 and the annual rent payable was reduced from £40,000 per annum to £1 per annum.

The second lease is a twenty-five year lease with no break clause therefore the entirety of the rent payable is disclosed within this note. The annual rent payable is £11,884.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew John Lane (Senior Statutory Auditor)
for and on behalf of CSL Partnership Limited

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling parent is RBC Investments (Surrey) Ltd.
(Registered office: Runnymede Civic Centre, Station Road, Addlestone, Surrey KT15 2AH.)