Registered number
07874830
RSB Autos Limited
Unaudited Filleted Accounts
31 December 2024
RSB Autos Limited
Registered number: 07874830
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 8,750 10,000
Tangible assets 4 42,491 56,654
51,241 66,654
Current assets
Stocks 28,820 4,500
Debtors 5 14,107 12,259
Cash at bank and in hand 131,978 224,869
174,905 241,628
Creditors: amounts falling due within one year 6 (20,653) (43,555)
Net current assets 154,252 198,073
Total assets less current liabilities 205,493 264,727
Creditors: amounts falling due after more than one year 7 (10,000) (18,000)
Provisions for liabilities (6,300) (9,000)
Net assets 189,193 237,727
Capital and reserves
Called up share capital 100 100
Profit and loss account 189,093 237,627
Shareholders' funds 189,193 237,727
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
RS Best
Director
Approved by the board on 21 July 2025
RSB Autos Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% on written down value
Motor vehicles 25% on written down value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 25,000
At 31 December 2024 25,000
Amortisation
At 1 January 2024 15,000
Provided during the year 1,250
At 31 December 2024 16,250
Net book value
At 31 December 2024 8,750
At 31 December 2023 10,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 68,755 85,580 154,335
At 31 December 2024 68,755 85,580 154,335
Depreciation
At 1 January 2024 55,289 42,392 97,681
Charge for the year 3,366 10,797 14,163
At 31 December 2024 58,655 53,189 111,844
Net book value
At 31 December 2024 10,100 32,391 42,491
At 31 December 2023 13,466 43,188 56,654
5 Debtors 2024 2023
£ £
Trade debtors 13,466 11,635
Other debtors 641 624
14,107 12,259
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,000 8,000
Trade creditors 3,965 7,007
Taxation and social security costs 7,199 26,928
Other creditors 1,489 1,620
20,653 43,555
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,000 18,000
8 Controlling party
The company is jointly controlled by RS Best and A Best by virtue of their ownership of 100% of the share capital.
9 Other information
RSB Autos Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 9 Wortley Moor Lane Industrial Estate
Wortley Moor Road
Leeds
West Yorkshire
LS12 4HX
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