Registration number: 08113573

RSK Finance Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 9

RSK Finance Limited

Company Information

Directors

Mrs S W Ishikawa Mr R Ishikawa

Registered office

Wortham Jaques 130A High Street Crediton Devon EX17 3LQ

Accountants

Wortham Jaques Limited Chartered Accountants & Business Advisers130a High Street, Crediton, Devon EX17 3LQ

RSK Finance Limited

(Registration number: 08113573)
Balance Sheet as at 30 June 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	39,462	52,616
Current assets
Debtors	5	4,085	18,906
Cash at bank and in hand		23,889	6,218
		27,974	25,124
Creditors: Amounts falling due within one year	6	(18,907)	(8,138)
Net current assets		9,067	16,986
Total assets less current liabilities		48,529	69,602
Provisions for liabilities		(9,866)	(9,997)
Net assets		38,663	59,605
Capital and reserves
Called up share capital	7	1	1
Retained earnings		38,662	59,604
Shareholders' funds		38,663	59,605

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 March 2025 and signed on its behalf by:
 

......................................... Mrs S W Ishikawa Director

RSK Finance Limited

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

1	General information

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

The address of its registered office is:
Wortham Jaques
130A High Street
Crediton
Devon
EX17 3LQ
United Kingdom

These financial statements were authorised for issue by the Board on 11 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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

RSK Finance Limited

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

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.

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
Office equipment	25% reducing balance basis
Motor vehicle	25% reducing balance basis

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.

Trade 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.

RSK Finance Limited

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

Trade 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.

RSK Finance Limited

Notes to the Unaudited 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

RSK Finance Limited

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

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 July 2023	7,224	98,580	105,804
At 30 June 2024	7,224	98,580	105,804
Depreciation
At 1 July 2023	4,225	48,963	53,188
Charge for the year	750	12,404	13,154
At 30 June 2024	4,975	61,367	66,342
Carrying amount
At 30 June 2024	2,249	37,213	39,462
At 30 June 2023	2,999	49,617	52,616

5

Debtors

Current	2024 £	2023 £
Trade debtors	4,085	5,785
Other debtors	-	13,121
	4,085	18,906

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Taxation and social security	4,350	6,791
Accruals and deferred income	1,069	1,347
Other creditors	13,488	-
	18,907	8,138

RSK Finance Limited

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

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1

8

Dividends

		2024		2023
		£		£
Final dividend of £13,500 (2023 - £3,200) per ordinary share		13,500		3,200

The directors are recommending a final dividend of £32,000 (2023 - £13,500) per share totalling £32,000 (2023 - £13,500). This dividend has not been accrued in the balance sheet.

9	Related party transactions

Transactions with directors

2024	At 1 July 2023 £	Advances to director £	Repayments by director £	At 30 June 2024 £
Mrs S W Ishikawa
Directors current account	13,120	22,758	(49,366)	(13,487)

2023	At 1 July 2022 £	Advances to director £	Repayments by director £	At 30 June 2023 £
Mrs S W Ishikawa
Directors current account	3,121	82,400	(72,401)	13,120

Directors' remuneration

The directors' remuneration for the year was as follows:

2024 £

2023 £

RSK Finance Limited

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

Dividends paid to directors

		2024 £		2023 £
Mrs S W Ishikawa
Dividends paid to director		13,500		3,200

10	Parent and ultimate parent undertaking

The ultimate controlling party is the company's director.