| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| RTG Rail Services Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 September 2024 |
| for |
| RTG Rail Services Limited |
| RTG Rail Services Limited (Registered number: 05681919) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| RTG Rail Services Limited |
| Company Information |
| for the Year Ended 30 September 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| UNIT L |
| RADFORD BUSINESS CENTRE |
| RADFORD WAY |
| BILLERICAY |
| Essex |
| CM12 0BZ |
| RTG Rail Services Limited (Registered number: 05681919) |
| Balance Sheet |
| 30 September 2024 |
| 30.9.24 | 30.9.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| 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 | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| RTG Rail Services Limited (Registered number: 05681919) |
| Balance Sheet - continued |
| 30 September 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| RTG Rail Services Limited (Registered number: 05681919) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| RTG Rail Services Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. |
| 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 lease, over the lease term. |
| Plant and machinery 25% and 33% straight line |
| Motor vehicles 25% reducing balance |
| Computer equipment 25% straight line |
| Fixture and fittings 25% reducing balance |
| Property improvements 30% straight line |
| 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. |
| RTG Rail Services Limited (Registered number: 05681919) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 October 2023 |
| Additions |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| RTG Rail Services Limited (Registered number: 05681919) |
| 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 |
| At 1 October 2023 |
| and 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Trade debtors |
| Amounts owed by participating interests | 1,534,776 | 1,015,410 |
| Amounts recoverable on contract |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Hire purchase contracts (see note 8) |
| RTG Rail Services Limited (Registered number: 05681919) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating | leases |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Hire purchase contracts | 25,102 | 65,857 |
| The Company's factoring debt is secured by way of a floating charge registered with companies house, secured against all property or undertakings of the company. |
| Hire purchase liabilities are secured by the related assets held under its own agreement |
| RTG Rail Services Limited (Registered number: 05681919) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023: |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The loan agreement between director Mr G Naessens and RTG Rail Services Limited was entered into prior to Mr G Naessens becoming a shareholder in July 2020. |
| 11. | RELATED PARTY DISCLOSURES |
| During the year RTG Rail Services Limited loaned Citymain Corporate Limited £644,677 for an investment purchase. |
| Balance at beginning of year 917,580 |
| Loan in year 132,388 |
| Loan c/fwd 1,049,968 |
| Citymain Corporate Limited is associated with directors of RTG Rail Services Limited. |
| 12. | ULTIMATE PARENT COMPANY |
| RTG Group (UK) Limited (incorporated in England & Wales) is the company's ultimate parent company. |