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REGISTERED NUMBER: 09691561 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

RBC Heat Company Limited

RBC Heat Company Limited (Registered number: 09691561)

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 Heat Company 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: 09691561 (England and Wales)





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

RBC Heat Company Limited (Registered number: 09691561)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Debtors 4 59,088 131,855
Cash at bank 104,774 75,046
163,862 206,901
CREDITORS
Amounts falling due within one year 5 (61,140 ) (55,052 )
NET CURRENT ASSETS 102,722 151,849
TOTAL ASSETS LESS CURRENT LIABILITIES 102,722 151,849

CREDITORS
Amounts falling due after more than one
year

6

-

(44,000

)
NET ASSETS 102,722 107,849

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 102,721 107,848
SHAREHOLDERS' FUNDS 102,722 107,849

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 Heat Company Limited (Registered number: 09691561)

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


1. STATUTORY INFORMATION

RBC Heat Company 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.


RBC Heat Company Limited (Registered number: 09691561)

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


2. ACCOUNTING POLICIES - continued
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 NIL (2023 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 31,277 72,254
Amounts owed by group undertakings 1,709 -
Other debtors 25,837 58,666
Prepayments 265 935
59,088 131,855

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 11,689 16,971
Amounts owed to group undertakings 11,551 11,551
VAT 9,953 5,940
Accruals and deferred income 27,947 20,590
61,140 55,052

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed to group undertakings - 44,000

At 31 March 2023, the company owed £44,000 to its parent company RBC Services (Addlestone One) 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.

RBC Heat Company Limited (Registered number: 09691561)

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


7. 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

8. ULTIMATE CONTROLLING PARENT

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