1 1 RS Projects South Limited 09131983 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is electrical repairs and installation. Digita Accounts Production Advanced 6.30.9574.0 true 09131983 2023-08-01 2024-07-31 09131983 2024-07-31 09131983 bus:Director1 1 2024-07-31 09131983 bus:OrdinaryShareClass1 bus:OtherShareType 2024-07-31 09131983 core:RetainedEarningsAccumulatedLosses 2024-07-31 09131983 core:ShareCapital 2024-07-31 09131983 core:CurrentFinancialInstruments 2024-07-31 09131983 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 09131983 core:MotorVehicles 2024-07-31 09131983 core:OfficeEquipment 2024-07-31 09131983 core:PlantMachinery 2024-07-31 09131983 bus:SmallEntities 2023-08-01 2024-07-31 09131983 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 09131983 bus:FilletedAccounts 2023-08-01 2024-07-31 09131983 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09131983 bus:RegisteredOffice 2023-08-01 2024-07-31 09131983 bus:Director1 2023-08-01 2024-07-31 09131983 bus:Director1 1 2023-08-01 2024-07-31 09131983 bus:OrdinaryShareClass1 bus:OtherShareType 2023-08-01 2024-07-31 09131983 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09131983 bus:Agent1 2023-08-01 2024-07-31 09131983 core:ComputerEquipment 2023-08-01 2024-07-31 09131983 core:MotorVehicles 2023-08-01 2024-07-31 09131983 core:OfficeEquipment 2023-08-01 2024-07-31 09131983 core:PlantMachinery 2023-08-01 2024-07-31 09131983 countries:England 2023-08-01 2024-07-31 09131983 2023-07-31 09131983 bus:Director1 1 2023-07-31 09131983 core:MotorVehicles 2023-07-31 09131983 core:OfficeEquipment 2023-07-31 09131983 core:PlantMachinery 2023-07-31 09131983 2022-08-01 2023-07-31 09131983 2023-07-31 09131983 bus:OrdinaryShareClass1 bus:OtherShareType 2023-07-31 09131983 core:RetainedEarningsAccumulatedLosses 2023-07-31 09131983 core:ShareCapital 2023-07-31 09131983 core:CurrentFinancialInstruments 2023-07-31 09131983 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 09131983 core:MotorVehicles 2023-07-31 09131983 core:OfficeEquipment 2023-07-31 09131983 core:PlantMachinery 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 09131983

RS Projects South Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

RS Projects South Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

RS Projects South Limited

Company Information

Director

Mr M Kelly

Registered office

Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

Accountants

Numeric Accounting
Chartered Certified AccountantsSuite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

RS Projects South Limited

(Registration number: 09131983)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,184

4,306

Current assets

 

Stocks

5

250

250

Debtors

6

6,690

767

Cash at bank and in hand

 

120,315

116,631

 

127,255

117,648

Creditors: Amounts falling due within one year

7

(58,715)

(43,006)

Net current assets

 

68,540

74,642

Total assets less current liabilities

 

71,724

78,948

Provisions for liabilities

(605)

(855)

Net assets

 

71,119

78,093

Capital and reserves

 

Called up share capital

8

20

20

Retained earnings

71,099

78,073

Shareholders' funds

 

71,119

78,093

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.

Director's 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 director acknowledges 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 April 2025
 

 

RS Projects South Limited

(Registration number: 09131983)
Balance Sheet as at 31 July 2024 (continued)

.........................................
Mr M Kelly
Director

 

RS Projects South Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

These financial statements were authorised for issue by the director on 14 April 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.


Cost of sales

The cost of sales is the accumulated total of all costs used to create a product or service, which has been sold.

 

RS Projects South Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

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

Plant and Machinery

20% Reducing Balance

Motor Vehicles

25% Reducing Balance

Computer Equipment

33% Reducing Balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

RS Projects South Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

RS Projects South Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

400

638

18,539

19,577

At 31 July 2024

400

638

18,539

19,577

Depreciation

At 1 August 2023

353

468

14,450

15,271

Charge for the year

9

91

1,022

1,122

At 31 July 2024

362

559

15,472

16,393

Carrying amount

At 31 July 2024

38

79

3,067

3,184

At 31 July 2023

47

170

4,089

4,306

5

Stocks

2024
£

2023
£

Other inventories

250

250

6

Debtors

Current

2024
£

2023
£

Trade debtors

3,420

-

Prepayments

708

767

Other debtors

2,562

-

 

6,690

767

7

Creditors

Creditors: amounts falling due within one year

 

RS Projects South Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

7

Creditors (continued)

2024
£

2023
£

Due within one year

Trade creditors

605

1,783

Taxation and social security

8,022

9,796

Other creditors

50,088

31,427

58,715

43,006


Deferred Tax

Amount of DT Expense in relation to the origination of timing differences -£213 (2023: -£399)

Amount of DT Expense in relation to changes to tax rates -£37 (2023: £54)

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

20

20

20

20

       

9

Dividends

2024

2023

£

£

Interim dividend of £1,700.00 (2023 - £1,765.00) per ordinary share

34,000

35,300

 

 
 

RS Projects South Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

10

Related party transactions

Transactions with the director

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Mr M Kelly

The loan is interest free with no fixed date of repayment.

(30,024)

24,778

(43,756)

(49,002)

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,100

9,100