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Registration number: 14275190

RVM Repairs Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

RVM Repairs Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

RVM Repairs Limited

(Registration number: 14275190)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

19,728

26,304

Tangible assets

5

17,642

20,443

 

37,370

46,747

Current assets

 

Stocks

14,158

14,158

Debtors

6

65,586

48,018

Cash at bank and in hand

 

7,982

6,770

 

87,726

68,946

Creditors: Amounts falling due within one year

7

(131,909)

(111,115)

Net current liabilities

 

(44,183)

(42,169)

Total assets less current liabilities

 

(6,813)

4,578

Creditors: Amounts falling due after more than one year

7

-

(2,230)

Provisions for liabilities

(1,409)

(1,515)

Net (liabilities)/assets

 

(8,222)

833

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(8,322)

733

Shareholders' (deficit)/funds

 

(8,222)

833

For the financial year ending 31 August 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 his 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 17 September 2024
 

 

RVM Repairs Limited

(Registration number: 14275190)
Balance Sheet as at 31 August 2024

.........................................
Mr D Johnson
Director

 

RVM Repairs Limited

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

1

General information

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

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the director and other related parties. The director considers that these facilities will continue to be made available to the company. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

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.

 

RVM Repairs Limited

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

Tax

The tax expense for the period comprises current tax.

The current 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.

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

Fixtures, fittings and computer equipment

straight line over 3 years

Motor vehicles

25% reducing balance

Plant and machinery

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

straight line over 5 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

 

RVM Repairs Limited

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 5).

 

RVM Repairs Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

32,880

32,880

At 31 August 2024

32,880

32,880

Amortisation

At 1 September 2023

6,576

6,576

Amortisation charge

6,576

6,576

At 31 August 2024

13,152

13,152

Carrying amount

At 31 August 2024

19,728

19,728

At 31 August 2023

26,304

26,304

5

Tangible assets

Fixtures, fittings and computer equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2023

912

19,169

5,015

25,096

Additions

1,507

-

987

2,494

At 31 August 2024

2,419

19,169

6,002

27,590

Depreciation

At 1 September 2023

253

3,664

736

4,653

Charge for the year

509

3,876

910

5,295

At 31 August 2024

762

7,540

1,646

9,948

Carrying amount

At 31 August 2024

1,657

11,629

4,356

17,642

At 31 August 2023

659

15,505

4,279

20,443

 

RVM Repairs Limited

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

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

64,011

39,197

Amounts owed by related parties

-

6,949

Other debtors

 

1,575

1,872

   

65,586

48,018

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

3,345

13,380

Trade creditors

 

33,673

25,811

Amounts owed to group undertakings and undertakings in which the company has a participating interest

6,552

-

Taxation and social security

 

53,551

31,862

Other creditors

 

34,788

40,062

 

131,909

111,115

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

-

2,230