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REGISTERED NUMBER: 12740147 (England and Wales)








































RGSC North East Ltd

Unaudited Financial Statements

for the Year Ended 31st July 2024






RGSC North East Ltd (Registered number: 12740147)






Contents of the Financial Statements
for the year ended 31st July 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


RGSC North East Ltd

Company Information
for the year ended 31st July 2024







Director: D M Colvine





Registered office: 20 Addycombe Close
Morpeth
Northumberland
NE65 7QF





Registered number: 12740147 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

RGSC North East Ltd (Registered number: 12740147)

Balance Sheet
31st July 2024

2024 2023
Notes £    £    £   
Fixed assets
Tangible assets 4 203,258 132,705

Current assets
Debtors 5 65,442 82,135
Cash at bank 26,369 21,657
91,811 103,792
Creditors
Amounts falling due within one year 6 112,958 90,571
Net current (liabilities)/assets (21,147 ) 13,221
Total assets less current liabilities 182,111 145,926

Creditors
Amounts falling due after more than one
year

7

(65,233

)

-

Provisions for liabilities (38,619 ) (23,915 )
Net assets 78,259 122,011

Capital and reserves
Called up share capital 100 100
Retained earnings 78,159 121,911
Shareholders' funds 78,259 122,011

RGSC North East Ltd (Registered number: 12740147)

Balance Sheet - continued
31st July 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15th April 2025 and were signed by:





D M Colvine - Director


RGSC North East Ltd (Registered number: 12740147)

Notes to the Financial Statements
for the year ended 31st July 2024

1. Statutory information

RGSC North East Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, hire purchase contracts, other loans and directors' loans.

Hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, trade creditors, accruals and other loans are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings..

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


RGSC North East Ltd (Registered number: 12740147)

Notes to the Financial Statements - continued
for the year ended 31st July 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitlaised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. These held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred.

Going concern
The director has considered the company's financial position for a period of 12 months and beyond from the date of signing these financial statements and has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 3 (2023 - 4 ) .

RGSC North East Ltd (Registered number: 12740147)

Notes to the Financial Statements - continued
for the year ended 31st July 2024

4. Tangible fixed assets
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1st August 2023 149,416 19,900 2,094 171,410
Additions 153,322 - - 153,322
Disposals (77,000 ) - - (77,000 )
At 31st July 2024 225,738 19,900 2,094 247,732
Depreciation
At 1st August 2023 32,613 5,493 599 38,705
Charge for year 15,799 3,602 374 19,775
Eliminated on disposal (14,006 ) - - (14,006 )
At 31st July 2024 34,406 9,095 973 44,474
Net book value
At 31st July 2024 191,332 10,805 1,121 203,258
At 31st July 2023 116,803 14,407 1,495 132,705

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 48,204 25,570
Other debtors 17,238 56,565
65,442 82,135

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 50,027 4,900
Trade creditors 20,953 25,654
Taxation and social security 25,370 53,918
Other creditors 16,608 6,099
112,958 90,571

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 65,233 -

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 115,260 4,900

Hire purchase contracts are secured against the assets to which they relate.

RGSC North East Ltd (Registered number: 12740147)

Notes to the Financial Statements - continued
for the year ended 31st July 2024

9. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31st July 2024 and 31st July 2023:

2024 2023
£    £   
D M Colvine
Balance outstanding at start of year 21,125 78,894
Amounts advanced 35,809 78,625
Amounts repaid (52,470 ) (136,394 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,464 21,125

This loan is unsecured, repayable on demand and interest has been charged at the official rates published by HMRC.

10. Related party disclosures

At 31st July 2024 a loan of £4,463 (2023 - £21,125) was outstanding payable to the company by one of the shareholders. This loan is unsecured, repayable on demand and interest has been charged at the official rates published by HMRC.