Silverfin false false 31/07/2024 01/08/2023 31/07/2024 Kim Brice-Smith 05/07/2002 Rodney Brice-Smith 05/07/2002 10 April 2025 The principal activity of the company is general construction and civil engineering. 04478669 2024-07-31 04478669 bus:Director1 2024-07-31 04478669 bus:Director2 2024-07-31 04478669 2023-07-31 04478669 core:CurrentFinancialInstruments 2024-07-31 04478669 core:CurrentFinancialInstruments 2023-07-31 04478669 core:Non-currentFinancialInstruments 2024-07-31 04478669 core:Non-currentFinancialInstruments 2023-07-31 04478669 core:ShareCapital 2024-07-31 04478669 core:ShareCapital 2023-07-31 04478669 core:RetainedEarningsAccumulatedLosses 2024-07-31 04478669 core:RetainedEarningsAccumulatedLosses 2023-07-31 04478669 core:LandBuildings 2023-07-31 04478669 core:PlantMachinery 2023-07-31 04478669 core:Vehicles 2023-07-31 04478669 core:LandBuildings 2024-07-31 04478669 core:PlantMachinery 2024-07-31 04478669 core:Vehicles 2024-07-31 04478669 2023-08-01 2024-07-31 04478669 bus:FilletedAccounts 2023-08-01 2024-07-31 04478669 bus:SmallEntities 2023-08-01 2024-07-31 04478669 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 04478669 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04478669 bus:Director1 2023-08-01 2024-07-31 04478669 bus:Director2 2023-08-01 2024-07-31 04478669 core:PlantMachinery 2023-08-01 2024-07-31 04478669 core:Vehicles 2023-08-01 2024-07-31 04478669 2022-08-01 2023-07-31 04478669 core:LandBuildings 2023-08-01 2024-07-31 04478669 core:LandBuildings 1 2023-08-01 2024-07-31 04478669 core:PlantMachinery 1 2023-08-01 2024-07-31 04478669 core:Vehicles 1 2023-08-01 2024-07-31 04478669 1 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Company No: 04478669 (England and Wales)

RBS GROUNDWORKS LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

RBS GROUNDWORKS LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

RBS GROUNDWORKS LIMITED

BALANCE SHEET

As at 31 July 2024
RBS GROUNDWORKS LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 214,595 254,790
214,595 254,790
Current assets
Stocks 4 286,336 218,975
Debtors 5 256,813 282,573
Cash at bank and in hand 670,982 851,078
1,214,131 1,352,626
Creditors: amounts falling due within one year 6 ( 369,342) ( 477,686)
Net current assets 844,789 874,940
Total assets less current liabilities 1,059,384 1,129,730
Creditors: amounts falling due after more than one year ( 10,286) ( 17,373)
Provision for liabilities 7 ( 43,814) ( 53,606)
Net assets 1,005,284 1,058,751
Capital and reserves
Called-up share capital 2 2
Profit and loss account 1,005,282 1,058,749
Total shareholders' funds 1,005,284 1,058,751

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of RBS Groundworks Limited (registered number: 04478669) were approved and authorised for issue by the Board of Directors on 10 April 2025. They were signed on its behalf by:

Kim Brice-Smith
Director
RBS GROUNDWORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
RBS GROUNDWORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

RBS Groundworks Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Fair View Farm, Allet, Truro, TR4 9DW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 32 30

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 August 2023 23,745 485,661 83,718 593,124
Additions 0 0 22,295 22,295
Rounding 0 2 0 2
At 31 July 2024 23,745 485,663 106,013 615,421
Accumulated depreciation
At 01 August 2023 0 297,781 40,553 338,334
Charge for the financial year 0 47,055 15,436 62,491
Rounding 0 ( 1) 2 1
At 31 July 2024 0 344,835 55,991 400,826
Net book value
At 31 July 2024 23,745 140,828 50,022 214,595
At 31 July 2023 23,745 187,880 43,165 254,790

4. Stocks

2024 2023
£ £
Stocks 50,197 87,513
Work in progress 236,139 131,462
286,336 218,975

5. Debtors

2024 2023
£ £
Trade debtors 240,932 237,397
Other debtors 15,881 45,176
256,813 282,573

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 122,536 134,673
Corporation tax 47,333 7,866
Other taxation and social security 25,212 28,543
Obligations under finance leases and hire purchase contracts 22,121 48,662
Other creditors 152,140 257,942
369,342 477,686

7. Provision for liabilities

2024 2023
£ £
Deferred tax 43,814 53,606

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
The directors are owed £40,290 by the company 40,290 99,730