RD Professional Services Ltd 11414782 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is general dentistry. Digita Accounts Production Advanced 6.30.9574.0 true true 11414782 2023-07-01 2024-06-30 11414782 2024-06-30 11414782 core:CurrentFinancialInstruments 2024-06-30 11414782 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 11414782 core:Non-currentFinancialInstruments 2024-06-30 11414782 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 11414782 bus:SmallEntities 2023-07-01 2024-06-30 11414782 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 11414782 bus:FilletedAccounts 2023-07-01 2024-06-30 11414782 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 11414782 bus:RegisteredOffice 2023-07-01 2024-06-30 11414782 bus:Director1 2023-07-01 2024-06-30 11414782 bus:Director2 2023-07-01 2024-06-30 11414782 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11414782 core:FurnitureFittings 2023-07-01 2024-06-30 11414782 core:MotorVehicles 2023-07-01 2024-06-30 11414782 core:OfficeEquipment 2023-07-01 2024-06-30 11414782 core:PlantMachinery 2023-07-01 2024-06-30 11414782 countries:EnglandWales 2023-07-01 2024-06-30 11414782 2022-07-01 2023-06-30 11414782 2023-06-30 11414782 core:CurrentFinancialInstruments 2023-06-30 11414782 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 11414782 core:Non-currentFinancialInstruments 2023-06-30 11414782 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 11414782

RD Professional Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

RD Professional Services Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 8

 

RD Professional Services Ltd

(Registration number: 11414782)
Balance Sheet as at 30 June 2024

Note

2024

£

2023
(As restated)
£

Fixed assets

 

Tangible assets

5

128,461

135,524

Current assets

 

Debtors

6

703,116

485,559

Cash at bank and in hand

 

8,389

16,863

 

711,505

502,422

Creditors: Amounts falling due within one year

7

(82,681)

(63,801)

Net current assets

 

628,824

438,621

Total assets less current liabilities

 

757,285

574,145

Creditors: Amounts falling due after more than one year

7

(40,224)

(65,607)

Net assets

 

717,061

508,538

Capital and reserves

 

Called up share capital

9

1,000

1,000

Retained earnings

716,061

507,538

Shareholders' funds

 

717,061

508,538

For the financial year ending 30 June 2024 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 24 June 2025 and signed on its behalf by:
 

Dr Dhiveshkumar Patel
Director

Dr Rishika Tushar Patel
Director

 
     
 

RD Professional Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tree Tops
Vache Lane
Chalfont St Giles
HP8 4SB
United Kingdom

These financial statements were authorised for issue by the Board on 24 June 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

RD Professional Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense for the period comprises current 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.

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 provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line basis

Plant and machinery

25% straight line basis

Fixture and fittings

25% straight line basis

Motor vehicles

25% straight line basis

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.

 

RD Professional Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

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 instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Prior Period Adjustments

During the preparation of the financial statements for the year ended 31 December 2024, the company identified that certain additions to tangible fixed assets in 2022 and 2023, financed through loan arrangements, were not recorded in the financial statements for those respective periods. As a result, the fixed aseets and related finance liability were understated. Furthermore, associated depreciation, interest expense and finance charges were omitted from the Statement of Profit or Loss.

These represent material omissions that meet the criteria for prior period errors under FRS 102 Section 10 - Accounting Policies, Estimates and Errors and has been corrected by restating the comparative figures for 2023 and the opening balances as at 1 January 2023.

The impact of the restatement is as follows:

 

RD Professional Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

image-name
image-name

Additional Notes
• The company has applied retrospective restatement, as required under FRS 102.10.21, for correction of prior period errors.
• The restated figures reflect accurate balances for fixed assets, liabilities, and profit or loss.
• There was no impact on cash flows, as the assets were acquired under finance arrangements.
 

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

RD Professional Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

image-name

6

Debtors

Current

2024
£

2023
£

Trade debtors

456,198

328,426

Other debtors

246,918

157,133

 

703,116

485,559

 

RD Professional Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024

£

2023
(As restated)
£

Due within one year

 

Loans and borrowings

8

25,383

23,607

Taxation and social security

 

56,438

39,334

Accruals and deferred income

 

860

860

 

82,681

63,801

Creditors: amounts falling due after more than one year

Note

2024

£

2023
(As restated)
£

Due after one year

 

Loans and borrowings

8

40,224

65,607

8

Loans and borrowings

Non-current loans and borrowings

2024

£

2023
(As restated)
£

Bank borrowings

40,224

65,607

 

RD Professional Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Current loans and borrowings

2024

£

2023
(As restated)
£

Bank borrowings

25,383

23,607



Note:

At 30 June 2024, the company had the following loans outstanding, all of which are measured at amortised cost:

Loan 1: £33,898 outstanding (including interest). This loan was obtained in 2022 to finance working capital and is repayable in monthly instalments of £968.50 up to May 2027. The effective interest rate is 6.24%.

Loan 2: £20,232 outstanding (including interest). This loan was obtained in 2022 for the acquisition of fixed assets and is repayable in monthly instalments of £578.07 up to May 2027. The effective interest rate is 6.30%.

Loan 3: £17,542 outstanding (including interest). This loan was obtained in 2023 for the acquisition of fixed assets and is repayable in monthly instalments of £877.10 up to February 2026. The effective interest rate is 8.85%.

Security: All loans are secured against the underlying assets financed.

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

10

Related party transactions

During the year the company made the following related party transactions:

Directors
During the year, the Directors loans outstanding at the year end was £207,267 (2023 : £117,482). Interest was charged at an annual rate of 2.5%. These amounts are unsecured and repayable on demand.