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Registration number: 11111602

RWT Flowstopping Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

RWT Flowstopping Ltd

Company Information

Directors

Mrs A J Thomas

Mr R W Thomas

Registered office

Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

 

RWT Flowstopping Ltd

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

Mrs A J Thomas

Mr R W Thomas

Principal activity

The principal activity of the company is flowstopping and drilling solutions.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 16 July 2025 and signed on its behalf by:
 

.........................................
Mrs A J Thomas
Director

.........................................
Mr R W Thomas
Director

 

RWT Flowstopping Ltd

(Registration number: 11111602)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

510,222

511,244

Current assets

 

Stocks

197,409

180,695

Debtors

5

317,050

609,996

Cash at bank and in hand

 

470,663

356,872

 

985,122

1,147,563

Creditors: Amounts falling due within one year

6

(357,259)

(537,768)

Net current assets

 

627,863

609,795

Total assets less current liabilities

 

1,138,085

1,121,039

Creditors: Amounts falling due after more than one year

6

(72,435)

(69,730)

Provisions for liabilities

(113,006)

-

Net assets

 

952,644

1,051,309

Capital and reserves

 

Called up share capital

2

2

Retained earnings

952,642

1,051,307

Shareholders' funds

 

952,644

1,051,309

For the financial year ending 31 December 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 and Directors' Report.

Approved and authorised by the Board on 16 July 2025 and signed on its behalf by:
 

 

RWT Flowstopping Ltd

(Registration number: 11111602)
Balance Sheet as at 31 December 2024

.........................................
Mrs A J Thomas
Director

.........................................
Mr R W Thomas
Director

 

RWT Flowstopping Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

These financial statements were authorised for issue by the Board on 16 July 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

RWT Flowstopping Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

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

Computer Equipment

33.33% Straight line

Plant and Machinery

20% Reducing balance

Motor Vehicle

25% 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.

 

RWT Flowstopping Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

RWT Flowstopping Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

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 9 (2023 - 8).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

821

367,062

17,570

248,079

633,532

Additions

1,189

63,005

1,314

64,950

130,458

At 31 December 2024

2,010

430,067

18,884

313,029

763,990

Depreciation

At 1 January 2024

324

41,336

6,904

73,724

122,288

Charge for the year

296

70,343

5,196

55,645

131,480

At 31 December 2024

620

111,679

12,100

129,369

253,768

Carrying amount

At 31 December 2024

1,390

318,388

6,784

183,660

510,222

At 31 December 2023

497

325,726

10,666

174,355

511,244

 

RWT Flowstopping Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

147,592

406,049

Amounts owed by related parties

130,250

130,250

Prepayments

 

13,335

39,174

Other debtors

 

25,873

34,523

   

317,050

609,996

 

RWT Flowstopping Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

21,361

14,645

Trade creditors

 

80,206

311,426

Amounts owed to group undertakings and undertakings in which the company has a participating interest

163,130

163,130

Taxation and social security

 

73,425

46,043

Accruals and deferred income

 

19,095

2,524

Other creditors

 

42

-

 

357,259

537,768

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

72,435

69,730

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

72,435

69,730

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

21,361

14,645

 

RWT Flowstopping Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

 

8

Related Party Transactions

During the year, the company entered into the following transactions with related parties:

Loans to Related Companies

The company has made loans to RWT Property Ltd, a company under common control of the directors. The balance outstanding at 31st December 2024 was £130,250 (2023: £130,250). The loan is non-interest bearing and is repayable on demand.

Loans from Related Companies

The company has received loans from RWT Equipment Limited, a company under common control of the directors. The balance outstanding at 31st December 2024 was £163,130 (2023: £163,130). The loan is non-interest bearing and is repayable on demand.

Purchases from Related Companies

The company made purchases from RWT Equipment Hire Ltd, a company under common control of the directors, totalling £177,145 during the year (2023: £216,155). These transactions were made on normal commercial terms.

Balances Outstanding

At the year end, trade payables included £16,944 due to RWT Equipment Hire Ltd (2023: NIL).