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Registered number: 08707996
RPM Body Shop Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—8
Page 1
Company Information
Director Mr A M Reynolds
Company Number 08707996
Registered Office Unit 3 Birch Close
Eastbourne
BN23 6PE
Accountants Cornfield Accountants Limited
Chartered Accountants
5 Cornfield Terrace
Eastbourne
East Sussex
BN21 4NN
Page 1
Page 2
Accountant's Report
Chartered Accountants report to the director on the preparation of the unaudited statutory accounts of RPM Body Shop Ltd for the year ended 30 September 2024.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of RPM Body Shop Ltd for the year ended 30 September 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of RPM Body Shop Ltd in accordance with the terms of our engagement letter dated 26 June 2023. Our work has been undertaken solely to prepare for your approval the accounts of RPM Body Shop Ltd and state those matters that we have agreed to state to the directors of RPM Body Shop Ltd in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RPM Body Shop Ltd and its director for our work or for this report.
It is your duty to ensure that RPM Body Shop Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of RPM Body Shop Ltd . You consider that RPM Body Shop Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of RPM Body Shop Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
02/04/2025
Cornfield Accountants Limited
Chartered Accountants
5 Cornfield Terrace
Eastbourne
East Sussex
BN21 4NN
Page 2
Page 3
Balance Sheet
Registered number: 08707996
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 56,064 64,465
56,064 64,465
CURRENT ASSETS
Stocks 64,044 82,455
Debtors 5 445,562 464,818
Cash at bank and in hand 452,012 229,898
961,618 777,171
Creditors: Amounts Falling Due Within One Year 6 (369,244 ) (369,333 )
NET CURRENT ASSETS (LIABILITIES) 592,374 407,838
TOTAL ASSETS LESS CURRENT LIABILITIES 648,438 472,303
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,016 ) (16,021 )
NET ASSETS 634,422 456,282
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 634,322 456,182
SHAREHOLDERS' FUNDS 634,422 456,282
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For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A M Reynolds
Director
02/04/2025
The notes on pages 5 to 8 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. General Information
RPM Body Shop Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08707996 . The registered office is Unit 3 Birch Close, Eastbourne, BN23 6PE.
The presentation currency of the financial statements is the Pound Sterling (£).  
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Significant judgements and estimations
No significant judgements have had to be made by the director in preparing these financial statements.
The director has made key assumptions in the determination of the value of the amounts recoverable on contracts and stock.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases, assets held under finance leases are depreciated in the same way as owned assets:
Leasehold Over the term of the lease
Plant & Machinery 25% on reducing balance
Fixtures & Fittings Various rates
Computer Equipment 33.33% straight line
2.5. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.
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2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
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3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 17 (2023: 16)
17 16
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 October 2023 2,680 56,134 39,078 5,039 102,931
Additions - 277 - - 277
As at 30 September 2024 2,680 56,411 39,078 5,039 103,208
Depreciation
As at 1 October 2023 2,298 29,817 1,563 4,788 38,466
Provided during the period 382 6,649 1,563 84 8,678
As at 30 September 2024 2,680 36,466 3,126 4,872 47,144
Net Book Value
As at 30 September 2024 - 19,945 35,952 167 56,064
As at 1 October 2023 382 26,317 37,515 251 64,465
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 400,036 420,698
Amounts recoverable on contracts 37,353 44,120
Other debtors 680 -
Prepayments 7,493 -
445,562 464,818
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 133,014 153,953
Corporation tax 73,839 52,586
Other taxes and social security 43,704 43,994
VAT 103,516 106,926
Other creditors 6,405 3,079
Accruals and deferred income 7,700 7,480
Director's loan account 1,066 1,315
369,244 369,333
7. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 21,357 21,348
Later than one year and not later than five years 5,059 26,406
26,416 47,754
The company is committed to paying rent of £18,000 per annum until 4th January 2026 totalling £22,500. The company is also committed to paying operating leases totalling £3,357 within the next year.
8. Pension Commitments
The company operates a defined contribution pension scheme for the employees of the company. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £623 (2023 - £577) were due to the fund. They are included in Other Creditors.
9. Related Party Transactions
Included in other creditors is an amount of £1,066 (2023 - £1,315) owed to the director of the company. This loan is interest free and repayable on demand.
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