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Company No: 04525347 (England and Wales)

RELIANT PROPERTY SERVICES LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

RELIANT PROPERTY SERVICES LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

RELIANT PROPERTY SERVICES LTD

BALANCE SHEET

As at 30 September 2024
RELIANT PROPERTY SERVICES LTD

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,593,520 1,478,909
1,593,520 1,478,909
Current assets
Stocks 4 381,409 123,073
Debtors 5 714,803 921,102
Cash at bank and in hand 51,162 93,638
1,147,374 1,137,813
Creditors: amounts falling due within one year 6 ( 742,295) ( 648,534)
Net current assets 405,079 489,279
Total assets less current liabilities 1,998,599 1,968,188
Creditors: amounts falling due after more than one year 7 ( 1,050,662) ( 978,696)
Provision for liabilities 8 ( 11,669) ( 8,102)
Net assets 936,268 981,390
Capital and reserves
Called-up share capital 1 1
Profit and loss account 936,267 981,389
Total shareholder's funds 936,268 981,390

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Reliant Property Services Ltd (registered number: 04525347) were approved and authorised for issue by the Board of Directors on 05 June 2025. They were signed on its behalf by:

D R Barrington-Brown
Director
G Holloway
Director
RELIANT PROPERTY SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
RELIANT PROPERTY SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Reliant Property Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is 360 Walton Road, West Moseley, KT8 2JE.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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.

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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 3 years straight line
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

The value of work in progress comprises direct labour costs, overheads that have been incurred in providing the services and, where applicable, direct materials.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at X. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 13

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 October 2023 1,445,710 13,209 142,096 1,601,015
Additions 0 377 147,169 147,546
At 30 September 2024 1,445,710 13,586 289,265 1,748,561
Accumulated depreciation
At 01 October 2023 0 8,991 113,115 122,106
Charge for the financial year 0 2,182 30,753 32,935
At 30 September 2024 0 11,173 143,868 155,041
Net book value
At 30 September 2024 1,445,710 2,413 145,397 1,593,520
At 30 September 2023 1,445,710 4,218 28,981 1,478,909

4. Stocks

2024 2023
£ £
Stocks 1,500 1,500
Work in progress 379,909 121,573
381,409 123,073

5. Debtors

2024 2023
£ £
Trade debtors 670,217 890,440
Other debtors 44,586 30,662
714,803 921,102

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 20,355 19,263
Trade creditors 389,615 355,152
Amounts owed to connected persons 44,112 0
Corporation tax 10,461 49,033
Other taxation and social security 183,951 189,732
Obligations under finance leases and hire purchase contracts (secured) 13,807 4,307
Other creditors 79,994 31,047
742,295 648,534

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 954,203 974,486
Obligations under finance leases and hire purchase contracts (secured) 96,459 4,210
1,050,662 978,696

Bank borrowings are secured by a fixed and floating charge over the properties.

The obligations under finance leases and hire purchase contracts are secured on the underlying assets which are included within motor vehicles. The net book value of the relevant assets at the balance sheet date is £141,072 (2023 - £23,214)

8. Provision for liabilities

2024 2023
£ £
Deferred tax 11,669 8,102

9. Related party transactions

Transactions with the entity's directors

Advances

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 October 2023, the balance owed by the director was £nil. During the year, £18,762 was advanced to the director, and £18,762 was repaid by the director. At 30 September 2024, the balance owed by the director was £nil.