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Registration number: 06799557

RLP Engineering Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

RLP Engineering Ltd

Company Information

Directors

Mr R Palmer

Mrs N J Palmer

Registered office

Unit B1
City Park Trading Estate
Dewsbury Road
Stoke-on-Trent
ST4 2TE

 

RLP Engineering Ltd

(Registration number: 06799557)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

271,947

342,067

Current assets

 

Stocks

5

354,000

280,000

Debtors

6

330,197

436,842

Cash at bank and in hand

 

532,666

164,316

 

1,216,863

881,158

Creditors: Amounts falling due within one year

7

(285,551)

(194,935)

Net current assets

 

931,312

686,223

Total assets less current liabilities

 

1,203,259

1,028,290

Creditors: Amounts falling due after more than one year

7

(23,111)

(44,934)

Provisions for liabilities

(67,986)

(85,516)

Net assets

 

1,112,162

897,840

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,112,062

897,740

Shareholders' funds

 

1,112,162

897,840

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 May 2025 and signed on its behalf by:
 

 

RLP Engineering Ltd

(Registration number: 06799557)
Balance Sheet as at 31 January 2025

.........................................
Mr R Palmer
Director

 

RLP Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit B1
City Park Trading Estate
Dewsbury Road
Stoke-on-Trent
ST4 2TE

These financial statements were authorised for issue by the Board on 15 May 2025.

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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income 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.

 

RLP Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

Plant and machinery

20% reducing balance

Fixture and fittings

20% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

RLP Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instuments. If payment id deferred and the time value of money is material, the initial measurement is on a present value basis. Share capital disclosed on balalnce sheet is allotted, called up and fully paid.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

RLP Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 6).

 

RLP Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2024

63,843

76,633

542,349

682,825

Additions

3,134

-

4,268

7,402

Disposals

-

(13,590)

(8,508)

(22,098)

At 31 January 2025

66,977

63,043

538,109

668,129

Depreciation

At 1 February 2024

40,866

34,416

265,476

340,758

Charge for the year

4,972

10,554

54,510

70,036

Eliminated on disposal

-

(11,776)

(2,836)

(14,612)

At 31 January 2025

45,838

33,194

317,150

396,182

Carrying amount

At 31 January 2025

21,139

29,849

220,959

271,947

At 31 January 2024

22,977

42,217

276,873

342,067

5

Stocks

2025
£

2024
£

Other inventories

354,000

280,000

6

Debtors

2025
£

2024
£

Trade debtors

13,896

4,957

Prepayments

14,474

9,504

Other debtors

301,827

422,381

330,197

436,842

 

RLP Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

75,543

20,776

Trade creditors

 

26,907

72,852

Taxation and social security

 

172,287

92,541

Accruals and deferred income

 

5,662

2,780

Other creditors

 

5,152

5,986

 

285,551

194,935

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

3,334

13,855

Hire purchase contracts

19,777

31,079

23,111

44,934

Current loans and borrowings

2025
£

2024
£

Bank borrowings

64,242

9,475

Hire purchase contracts

11,301

11,301

75,543

20,776

 

RLP Engineering Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Bank borrowings

Bounce Back Loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 17 June 2026. The carrying amount at year end is £13,333 (2024 - £23,330).

10

Related party transactions

Transactions with directors

2025

At 1 February 2024
£

Repayments by director
£

At 31 January 2025
£

Mr R Palmer

Director Loan Account

228,131

(456)

227,674

2024

At 1 February 2023
£

Repayments by director
£

At 31 January 2024
£

Mr R Palmer

Director Loan Account

228,142

(11)

228,131