Company registration number 14352860 (England and Wales)
RWE ENGINEERING SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
RWE ENGINEERING SERVICES LIMITED
CONTENTS
Page
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
RWE ENGINEERING SERVICES LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
RWE ENGINEERING SERVICES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,508
810
Current assets
Debtors
5
23,179
24,235
Cash at bank and in hand
73,276
124,258
96,455
148,493
Creditors: amounts falling due within one year
Taxation and social security
19,603
48,417
Other creditors
6
2,928
36,828
22,531
85,245
Net current assets
73,924
63,248
Net assets
75,432
64,058
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
75,430
64,056
Total equity
75,432
64,058
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
Mr Robert Everson
Director
Company registration number 14352860 (England and Wales)
RWE ENGINEERING SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2022
-
Year ended 30 September 2023:
Profit and total comprehensive income
-
87,556
87,556
Issue of share capital
7
2
-
2
Dividends
-
(23,500)
(23,500)
Balance at 30 September 2023
2
64,056
64,058
Year ended 30 September 2024:
Profit and total comprehensive income
-
52,374
52,374
Dividends
-
(41,000)
(41,000)
Balance at 30 September 2024
2
75,430
75,432
RWE ENGINEERING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information
RWE Engineering Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Celtic House, Caxton Place, Pentwyn, Cardiff, CF23 8HA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Reducing balance
Fixtures and fittings
25% Reducing balance
Computers
33% Straight line
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
RWE ENGINEERING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
14,584
22,838
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
Profit before taxation
66,958
110,394
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
16,740
27,599
Goodwill/depreciation not allowed for tax
162
47
Capital allowances
(337)
(291)
Difference in tax rates
(2,712)
(4,517)
Disallowable Expenses
731
Taxation charge for the year
14,584
22,838
RWE ENGINEERING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 October 2023
805
192
997
Additions
1,344
1,344
At 30 September 2024
805
192
1,344
2,341
Depreciation and impairment
At 1 October 2023
151
36
187
Depreciation charged in the year
164
39
443
646
At 30 September 2024
315
75
443
833
Carrying amount
At 30 September 2024
490
117
901
1,508
At 30 September 2023
654
156
810
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
23,179
24,235
6
Other creditors falling due within one year
2024
2023
£
£
Other creditors
303
35,163
Accruals and deferred income
2,625
1,665
2,928
36,828
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A of £1 each
1
1
1
1
B of £1 each
1
1
1
1
2
2
2
2
RWE ENGINEERING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
8
Related party transactions
As at balance sheet date, the company owed the directors £303 (2023: £35,162)
During the year the company voted dividend of £41,000 (2023: £23,500).
9
Ultimate Controlling Party
The company's ultimate controlling party is Mr Robert Everson and Mrs Denise Everson by virtue of the issued share capital in the company.