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REGISTERED NUMBER: 01253668 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 September 2024

for

RST Irrigation Ltd

RST Irrigation Ltd (Registered number: 01253668)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1 to 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 11


RST Irrigation Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr W G Smith
Mrs M A Smith
Mr N A Smith
Mr T A Smith
Mr J G R Parrington





SECRETARIES: Mrs M A Smith
Mr R P Smith





REGISTERED OFFICE: Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR





BUSINESS ADDRESS: The Irricentre
Sedge Fen
Lakenheath
Brandon
Suffolk
IP27 9LF





REGISTERED NUMBER: 01253668 (England and Wales)






RST Irrigation Ltd

Company Information
for the Year Ended 30 September 2024







ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

RST Irrigation Ltd (Registered number: 01253668)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 735,603 747,089

CURRENT ASSETS
Stocks 758,886 592,741
Debtors 5 104,432 182,504
Cash at bank 263,979 39,814
1,127,297 815,059
CREDITORS
Amounts falling due within one year 6 396,945 206,205
NET CURRENT ASSETS 730,352 608,854
TOTAL ASSETS LESS CURRENT LIABILITIES 1,465,955 1,355,943

CREDITORS
Amounts falling due after more than one
year

7

(17,438

)

(7,654

)

PROVISIONS FOR LIABILITIES 9 (115,644 ) (118,516 )
NET ASSETS 1,332,873 1,229,773

CAPITAL AND RESERVES
Called up share capital 10 4,000 4,000
Fair value reserve 11 129,822 129,822
Retained earnings 11 1,199,051 1,095,951
SHAREHOLDERS' FUNDS 1,332,873 1,229,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

RST Irrigation Ltd (Registered number: 01253668)

Balance Sheet - continued
30 September 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2025 and were signed on its behalf by:




Mr N A Smith - Director



Mr T A Smith - Director


RST Irrigation Ltd (Registered number: 01253668)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

RST Irrigation 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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 in respect of service contracts is recognised when the company obtains the right to consideration. Sales invoiced in advance are recognised as deferred income and sales invoiced in arrears recognised as accrued income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Hire equipment - 15% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance

Depreciation of freehold property is based on its revalued amount.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

RST Irrigation Ltd (Registered number: 01253668)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, bank and hire purchase liabilities and loans from related parties.

Debt instruments, such as loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and 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 Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

RST Irrigation Ltd (Registered number: 01253668)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those 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.

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

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.

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

RST Irrigation Ltd (Registered number: 01253668)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 October 2023 315,000 736,405 1,051,405
Additions - 193,804 193,804
Disposals - (185,422 ) (185,422 )
At 30 September 2024 315,000 744,787 1,059,787
DEPRECIATION
At 1 October 2023 - 304,316 304,316
Charge for year - 68,805 68,805
Eliminated on disposal - (48,937 ) (48,937 )
At 30 September 2024 - 324,184 324,184
NET BOOK VALUE
At 30 September 2024 315,000 420,603 735,603
At 30 September 2023 315,000 432,089 747,089

Cost or valuation at 30 September 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2019 185,178 - 185,178
Cost 129,822 744,787 874,609
315,000 744,787 1,059,787

If land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 185,178 185,178
Aggregate depreciation 85,973 82,972

Land and buildings were valued on an open market basis on 18 April 2019 by Barker Storey Matthews .

The directors believe that the value has not changed significantly since then.

RST Irrigation Ltd (Registered number: 01253668)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 October 2023 98,459
Additions 75,958
Disposals (26,311 )
At 30 September 2024 148,106
DEPRECIATION
At 1 October 2023 54,152
Charge for year 17,271
Eliminated on disposal (15,443 )
At 30 September 2024 55,980
NET BOOK VALUE
At 30 September 2024 92,126
At 30 September 2023 44,307

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 90,550 176,379
Other debtors 13,882 6,125
104,432 182,504

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 14,983 6,914
Trade creditors 129,853 34,906
Taxation and social security 215,927 130,840
Other creditors 36,182 33,545
396,945 206,205

Other creditors includes loans from the directors.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 17,438 7,654

RST Irrigation Ltd (Registered number: 01253668)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 32,421 14,568

Bank borrowings are secured by legal charges over the company's freehold property and floating charges over the other assets, but there were no such borrowings as at 30 September 2024 (or 2023).

The hire purchase liabilities are secured on the assets to which they relate.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 115,644 118,516

Deferred
tax
£   
Balance at 1 October 2023 118,516
Credit to Income Statement during year (2,872 )
Balance at 30 September 2024 115,644

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 A Ordinary £1 2,000 2,000
380 B Ordinary £1 380 380
460 C Ordinary £1 460 460
380 D Ordinary £1 380 380
380 E Ordinary £1 380 380
200 F Ordinary £1 200 200
100 G Ordinary £1 100 100
100 H Ordinary £1 100 100
4,000 4,000

RST Irrigation Ltd (Registered number: 01253668)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 October 2023 1,095,951 129,822 1,225,773
Profit for the year 163,100 163,100
Dividends (60,000 ) (60,000 )
At 30 September 2024 1,199,051 129,822 1,328,873