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REGISTERED NUMBER: 01119121 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2024

for

R G Trade Supplies and Engineering
Limited

R G Trade Supplies and Engineering
Limited (Registered number: 01119121)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


R G Trade Supplies and Engineering
Limited (Registered number: 01119121)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 28,334 33,334
Tangible assets 5 1,057,608 1,073,302
1,085,942 1,106,636

CURRENT ASSETS
Stocks 110,232 62,565
Debtors 6 898,182 910,055
Cash at bank and in hand 173,091 210,333
1,181,505 1,182,953
CREDITORS
Amounts falling due within one year 7 870,475 534,597
NET CURRENT ASSETS 311,030 648,356
TOTAL ASSETS LESS CURRENT LIABILITIES 1,396,972 1,754,992

CREDITORS
Amounts falling due after more than one year 8 (410,263 ) (494,874 )

PROVISIONS FOR LIABILITIES (235,052 ) (196,638 )
NET ASSETS 751,657 1,063,480

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 750,657 1,062,480
SHAREHOLDERS' FUNDS 751,657 1,063,480

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

R G Trade Supplies and Engineering
Limited (Registered number: 01119121)

Balance Sheet - continued
31 October 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2025 and were signed on its behalf by:





C Hill - Director


R G Trade Supplies and Engineering
Limited (Registered number: 01119121)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

R G Trade Supplies and Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01119121

Registered office: Foley Street
Fenton
Stoke-on-Trent
Staffordshire
ST4 3DR

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.

Preparation of consolidated financial statements
The financial statements contain information about R G Trade Supplies and Engineering Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated 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.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Improvements to property - 15% on reducing balance
Plant and machinery - 12.5% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

R G Trade Supplies and Engineering
Limited (Registered number: 01119121)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

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.

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 33 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 50,000
AMORTISATION
At 1 November 2023 16,666
Amortisation for year 5,000
At 31 October 2024 21,666
NET BOOK VALUE
At 31 October 2024 28,334
At 31 October 2023 33,334

R G Trade Supplies and Engineering
Limited (Registered number: 01119121)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2023 215,051 1,541,774 31,385 135,673 1,923,883
Additions - 121,913 - 37,982 159,895
Disposals - - - (23,118 ) (23,118 )
At 31 October 2024 215,051 1,663,687 31,385 150,537 2,060,660
DEPRECIATION
At 1 November 2023 32,258 704,220 16,496 97,607 850,581
Charge for year 27,419 119,933 3,722 17,177 168,251
Eliminated on disposal - - - (15,780 ) (15,780 )
At 31 October 2024 59,677 824,153 20,218 99,004 1,003,052
NET BOOK VALUE
At 31 October 2024 155,374 839,534 11,167 51,533 1,057,608
At 31 October 2023 182,793 837,554 14,889 38,066 1,073,302

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 November 2023 740,090
Additions 35,717
At 31 October 2024 775,807
DEPRECIATION
At 1 November 2023 109,431
Charge for year 83,297
At 31 October 2024 192,728
NET BOOK VALUE
At 31 October 2024 583,079
At 31 October 2023 630,659

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 671,576 575,142
Accrued income 173,784 261,790
Other debtors 52,822 73,123
898,182 910,055

R G Trade Supplies and Engineering
Limited (Registered number: 01119121)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 103,442 97,704
Trade creditors 260,229 305,254
Amounts owed to group undertakings 221,528 19,870
Taxation and social security 252,384 73,419
Other creditors 27,336 32,794
870,475 534,597

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 26,815 32,371
Hire purchase contracts 383,448 462,503
410,263 494,874

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 4,592 10,148

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 486,890 560,207

An invoice financing facility is secured by fixed and floating charge in favour of Close Brothers Group plc over all of the assets of the group.

The hire purchase liability is secured on the asset to which it relates.

10. FINANCIAL COMMITMENTS

Financial commitments to remaining payments on operating leases amount to £20,115 (2023: £25,460).

The company is party to cross guarantee arrangements with its bankers in respect of the group's bank lending. At the year end the group's bank lending amounted to £247,016 (2023: £277,232).

Security has been provided by fixed and floating charges over all assets of the group.

R G Trade Supplies and Engineering
Limited (Registered number: 01119121)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
G Hill
Balance outstanding at start of year 20,853 65,438
Amounts advanced 932 1,733
Amounts repaid - (46,318 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,785 20,853

No interest has been charged on the amounts outstanding which are repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The controlling party is RGT Holdings Limited.

The ultimate controlling party is C Hill.