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Registered number: 05856998

R&S Recovery Services Limited

ACCOUNTS
FOR THE 397 DAY PERIOD ENDED 31/07/2024


R&S Recovery Services Limited

ACCOUNTS
FOR THE 397 DAY PERIOD ENDED 31/07/2024
DIRECTORS
Stephen Leslie
SECRETARY
Gaye Taylor
REGISTERED OFFICE
The Workshops, 7 Booker Depot
Wycombe Air Park, Clay Lane
Marlow
Bucks.
SL7 3DJ
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 05856998

R&S Recovery Services Limited

ACCOUNTS
FOR THE397 DAY PERIODENDED31/07/2024
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

R&S Recovery Services Limited

BALANCE SHEET AT 31/07/2024
20242023
Notes££
FIXED ASSETS
Intangible assets3591,184-
Tangible assets44,528,529-
5,119,713-
CURRENT ASSETS
Stock53,986-
Debtors61,341,5781
Cash at bank and in hand646,717-
2,042,2811
CREDITORS: Amounts falling due within one year71,400,961-
NET CURRENT ASSETS641,3201
TOTAL ASSETS LESS CURRENT LIABILITIES5,761,0331
CREDITORS: Amounts falling due after more than one year8626,283-
PROVISIONS FOR LIABILITIES AND CHARGES91,257,587-
NET ASSETS3,877,1631
CAPITAL AND RESERVES
Called up share capital101,0011
Share premium account113,738,517-
Profit and loss account137,645-
SHAREHOLDERS' FUNDS3,877,1631
For the year ending 31/07/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 28/04/2025 and signed on their behalf by
.............................
Stephen Leslie
Director

R&S Recovery Services Limited

NOTES TO THE ACCOUNTS
FOR THE 397 DAY PERIOD ENDED 31/07/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Tangible fixed assets are included at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operation in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives as follows:
Short Leasehold Propertiesstraight line33.33%
Plant And Machinerystraight line20-50%
Commercial Vehiclesstraight line10-33.33%
Fixtures And Fittingsstraight line33.33%
Equipmentstraight line20-33.33%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs are based on the cost of purchased on a weighted average basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. At each reporting date, stocks are assessed for impairment. If stock is 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.
1d. Goodwill
Goodwill is capitalised at cost and represents the excess of the cost of a business combination over the fair value of the share of the net identifiable assets of the acquired business at the date of the acquisition. The cost model for treatment of goodwill has been adopted. Goodwill amortisation is calculated by applying the straight-line method to its estimated useful life. If a reliable estimate cannot be made, the useful life of goodwill is presumed to be 5 years. Goodwill is amortised to administrative expenses.

R&S Recovery Services Limited

1e. Impairment Of Fixed Assets And Goodwill
Fixed assets and goodwill are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows. Fixed assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
Where indicators exist for a decrease in an impairment loss previously recognised for assets other than goodwill, the prior impairment loss is tested to determine whether all or part of the impairment loss should be reversed. An impairment loss is reversed on an individual impaired asset to the extent that it does not increase the carrying amount of the asset above the carrying amount that would have been determined (net of amortisation or depreciation) had no impairment been recognised.
1f. Leased Assets Lessee
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account.
Finance lease payments are analysed between capital and interest components so that the interest element of the payment is charged to profit or loss over the term of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.
All other leases are treated as operating leases. Annual rentals on operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
1g. Financial Assets
Financial assets, other than investments and derivatives, are initially measured at transaction price (including transaction costs) and subsquently held at amortised cost, less any impairment.
1h. Financial Liabilties And Equity
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities, excluding convertible debt and derivatives, are initially measured at transaction price (after deducting transaction costs) and subsequently held at amortised cost.
1i. Finance Costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

R&S Recovery Services Limited

1j. Holiday Pay Accrual
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.
1k. Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
1l. Reserves
The Company's reserves are as follows: - Called up share capital reserve represents the nominal value of the shares issued - Share premium account includes the premium on issue of equity shares, net of any issue costs - Profit and loss account represents cumulative profits or losses, net of dividends paid and other adjustments.
1m. Judgements In Applying Accounting Policies And Key Sources Of Estimation Uncertainty
In preparing these financial statements, the directors have made the following judgements: - Determining whether leases entered into by the Company as a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis. - Determining whether there are indicators of impairment of the Company's tangible and intangible assets, including goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.
Other key sources of estimation uncertainty include tangible fixed assets. Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and mav vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, produce life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining lift of the asset and projected disposal values.
2. EMPLOYEES
20242023
No.No.
Average number of employees49-

R&S Recovery Services Limited

3. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
Additions758,977758,977
At 31/07/2024758,977758,977
Depreciation
For the 397 day period167,793167,793
At 31/07/2024167,793167,793
Net Book Amounts
At 31/07/2024591,184591,184
On 1 August 2023, the entire trade and assets of Stephen Leslie T/A R&S Recovery Services, a sole trader entity, were incorporated into R&S Recovery Services Limited in exchange for 1,000 shares in the Company. In calculating the goodwill arising on the incorporation, the fair value of net assets of Stephen Leslie T/A R&S Recovery Services were assessed and adjustments from book value made where necessary. The book value of net assets was £2,336,718, comprised of Intangible assets £20,000; Tangible assets £2,694,030; Current assets £1,277,335; and Liabilities £1,654,647. Tangible fixed assets were revalued by £1,746,779 to £4,440,809 to reflect their fair market value at the date of acquisition. Deferred tax of £1,082,957 was recognised on the difference between the accounting and tax bases of tangible fixed assets. The fair value of the net assets acquired was £3,000,540.
The total purchase consideration for the transaction was £3,739,517 settled by issuing 1,000 new shares in the Company with a share premium of £3,738,517. The difference between the purchase consideration and the fair value of the net assets acquired resulted in goodwill of £738,977.
The useful economic life of goodwill has been estimated to be 5 years. Included within goodwill are intangible assets that do not require separate recognition. These intangible assets relate to customer lists and customer relationships.

R&S Recovery Services Limited

4. TANGIBLE FIXED ASSETS
Short LeaseholdPlant andCommercialFixtures
PropertiesMachineryVehiclesand FittingsEquipmentTotal
££££££
Cost
Additions2,92971,7135,072,80311711,8145,159,376
At 31/07/20242,92971,7135,072,80311711,8145,159,376
Depreciation
For the 397 day period1,49521,762603,995743,521630,847
At 31/07/20241,49521,762603,995743,521630,847
Net Book Amounts
At 31/07/20241,43449,9514,468,808438,2934,528,529
Additions of tangible assets during the period include amounts acquired with the incorporation of Stephen Leslie T/A R&S Recovery Services of £4,440,809 comprised of Short Leasehold Properties £2,929; Plant & Machinery £48,622; Commercial Vehicles £4,383,014; Fixtures & fittings £117; and Equipment £6,127.
The net book value of commercial motor vehicles at 31 July 2024 includes an amount of £2,390,501 in respect of assets held under hire purchase contracts. When these hire purchase contracts end the Company pays a nominal sum to the lender so that the Company gains full unencumbered ownership of the asset.
5. STOCK 20242023
££
Stock comprises:
Stock53,986-
53,986-
6. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors956,023-
Other debtors49,3901
Prepayments277,116-
Accrued income59,049-
1,341,5781

R&S Recovery Services Limited

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax98,120-
VAT142,990-
PAYE control41,724-
Directors current account22,941-
Hire purchase501,036-
Trade creditors511,765-
Other creditors4,764-
Accruals77,621-
1,400,961-
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Hire purchase >1yr626,283-
626,283-
Finance leases and hire purchase contracts at 31 July 2024 include amounts due between 1 and 2 years of £305,325, between 2 and 5 years of £259,298 and due in more than 5 years of £61,660.
9. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation1,257,587-
1,257,587-

R&S Recovery Services Limited

10. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
1,001 Ordinary shares of £1 each1,0011
1,0011
New shares issued during period:
1,000 Ordinary shares of £1 each1,000
1,000-
11. SHARE PREMIUM ACCOUNT 20242023
££
Share premium account3,738,517-
12. RELATED PARTY TRANSACTIONS
The director made a loan to the Company during the period ended 31 July 2024. The amount outstanding on this loan at 31 July 2024 was £22,941. Aside from the loan from the director there were no other related party transactions during the period.
13. GUARANTEES AND OTHER FINANCIAL COMMITMENTS
At 31 July 2024, the Company had total commitments under non-cancellable operating leases over the remaining life of those leases of £761,736 (2023 - £nil). Of these leases £342,181 is due in 1 year and £419,556 in 2-5 years. There are no amounts due after 5 years.
The Company operates a defined contribution pension scheme for the employees. At 31 July 2024, £4,764 of unpaid contributions were due to the pension scheme. This amount is included within other creditors.