| REGISTERED NUMBER: |
| RATIONAL LABELLING & MARKING SYSTEMS |
| LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 FEBRUARY 2024 |
| REGISTERED NUMBER: |
| RATIONAL LABELLING & MARKING SYSTEMS |
| LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 FEBRUARY 2024 |
| RATIONAL LABELLING & MARKING SYSTEMS |
| LIMITED (REGISTERED NUMBER: 01203423) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 FEBRUARY 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| RATIONAL LABELLING & MARKING SYSTEMS |
| LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 29 FEBRUARY 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 15 High Street |
| Brackley |
| Northamptonshire |
| NN13 7DH |
| RATIONAL LABELLING & MARKING SYSTEMS |
| LIMITED (REGISTERED NUMBER: 01203423) |
| BALANCE SHEET |
| 29 FEBRUARY 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| RATIONAL LABELLING & MARKING SYSTEMS |
| LIMITED (REGISTERED NUMBER: 01203423) |
| BALANCE SHEET - continued |
| 29 FEBRUARY 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| RATIONAL LABELLING & MARKING SYSTEMS |
| LIMITED (REGISTERED NUMBER: 01203423) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 FEBRUARY 2024 |
| 1. | STATUTORY INFORMATION |
| Rational Labelling & Marking Systems Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
| Sale of goods |
| Turnover from the sale of machinery recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.. |
| Rendering of services |
| When the outcome of a transaction can be estimated reliably, turnover from the repair and maintenance of machinery is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to when the work has been completed. |
| Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| 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. |
| RATIONAL LABELLING & MARKING SYSTEMS |
| LIMITED (REGISTERED NUMBER: 01203423) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 FEBRUARY 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred taxation |
| 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. |
| Foreign currencies |
| Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. |
| Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate. |
| 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. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| 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. |
| Government grants |
| Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| RATIONAL LABELLING & MARKING SYSTEMS |
| LIMITED (REGISTERED NUMBER: 01203423) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 FEBRUARY 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 March 2023 |
| Additions |
| At 29 February 2024 |
| DEPRECIATION |
| At 1 March 2023 |
| Charge for year |
| At 29 February 2024 |
| NET BOOK VALUE |
| At 29 February 2024 |
| At 28 February 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Deferred tax asset |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| VAT | 64,489 | - |
| Other creditors |
| Credit Card | 17,181 | - |
| Directors' current accounts | 1,542 | 1,357 |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 2-5 years |
| RATIONAL LABELLING & MARKING SYSTEMS |
| LIMITED (REGISTERED NUMBER: 01203423) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 FEBRUARY 2024 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £10 | 1,100 | 1,100 |
| 9. | RELATED PARTY DISCLOSURES |
| Rational Labelling & Marking Systems Ltd paid rent to Rational Properties Ltd of £32,400 for the accounting year 2024 (£27,000 2023) this rent is considered to be at market rate by the directors. |