Acorah Software Products - Accounts Production 16.2.850 false true 31 July 2023 1 August 2022 false 16 April 2025 1 August 2023 31 July 2024 31 July 2024 NI639511 Mr Daniel McIlroy Mr Franklin McIlroy Mr Samuel McIlroy Mr David McIlroy Mr Alan Sproule RTU Limited Monkstown Industrial Estate Cloughfern Avenue Newtownabbey Co. Antrim BT37 0UZ true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI639511 2023-07-31 NI639511 2024-07-31 NI639511 2023-08-01 2024-07-31 NI639511 frs-core:CurrentFinancialInstruments 2024-07-31 NI639511 frs-core:Non-currentFinancialInstruments 2024-07-31 NI639511 frs-core:ShareCapital 2024-07-31 NI639511 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 NI639511 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI639511 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 NI639511 frs-bus:SmallEntities 2023-08-01 2024-07-31 NI639511 frs-bus:Audited 2023-08-01 2024-07-31 NI639511 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 NI639511 1 2023-08-01 2024-07-31 NI639511 frs-bus:Director1 2023-08-01 2024-07-31 NI639511 frs-bus:Director2 2023-08-01 2024-07-31 NI639511 frs-bus:Director3 2023-08-01 2024-07-31 NI639511 frs-bus:Director4 2023-08-01 2024-07-31 NI639511 frs-bus:Director5 2023-08-01 2024-07-31 NI639511 frs-countries:NorthernIreland 2023-08-01 2024-07-31 NI639511 2022-07-31 NI639511 2023-07-31 NI639511 2022-08-01 2023-07-31 NI639511 frs-core:CurrentFinancialInstruments 2023-07-31 NI639511 frs-core:Non-currentFinancialInstruments 2023-07-31 NI639511 frs-core:ShareCapital 2023-07-31 NI639511 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: NI639511
RTU Developments Limited
Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: NI639511
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 130,000 130,000
Cash at bank and in hand 100 100
130,100 130,100
Creditors: Amounts Falling Due Within One Year 5 (2,030 ) (5,777 )
NET CURRENT ASSETS (LIABILITIES) 128,070 124,323
TOTAL ASSETS LESS CURRENT LIABILITIES 128,070 124,323
Creditors: Amounts Falling Due After More Than One Year 6 (35,375 ) (37,083 )
NET ASSETS 92,695 87,240
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 92,595 87,140
SHAREHOLDERS' FUNDS 92,695 87,240
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 Alan Sproule
Director
16 April 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
RTU Developments Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI639511 . The registered office is Cloughfern Avenue, Newtownabbey, BT37 0UZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling which is the functional curreny ofthe entity rounded to the nearest pound.
2.2. 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.
2.3. 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.
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Stocks
2024 2023
£ £
Stock 130,000 130,000
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Page 3
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 750 750
Taxation and social security 1,280 5,027
2,030 5,777
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 35,375 37,083
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
The company has taken advantage of the exemptions contained in FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland Section 33 related party disclosures paragraph 33.11 and has not disclosed details of transactions with its parent or fellow subsidiaries on the grounds that it is a 100% wholly owned subsidiary and the group financial statements of RTU limited within which RTU developments is included are publicly available.
9. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
10. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is RTU Limited . RTU Limited was incorporated in NIOreland. Copies of the group accounts may be obtained from the secretary, Monkstown Industrial Estate Cloughfern Avenue Newtownabbey Co. Antrim BT37 0UZ . The ultimate controlling party is RTU Limited who controls 100% of the shares of RTU Developments Limited .
11. Audit Information
The auditor's report on the accounts of RTU Developments Limited for the year ended 31 July 2024 was unqualified.
The auditor's report was signed by Eunan Kerlin (Senior Statutory Auditor) for and on behalf of KGA Accountants LLP , Statutory Auditor.
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