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REGISTERED NUMBER: 02774001 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

R.F. SOLUTIONS LIMITED

R.F. SOLUTIONS LIMITED (REGISTERED NUMBER: 02774001)






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


R.F. SOLUTIONS LIMITED

Company Information
for the year ended 30 September 2024







DIRECTORS: J K Fairall
K B Fairall





SECRETARY: K B Fairall





REGISTERED OFFICE: Preston Park House
South Road
Brighton
East Sussex
BN1 6SB





REGISTERED NUMBER: 02774001 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

R.F. SOLUTIONS LIMITED (REGISTERED NUMBER: 02774001)

Balance Sheet
30 September 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 32,186 7,592
Tangible assets 5 296,788 207,487
328,974 215,079

CURRENT ASSETS
Stocks 1,042,976 987,184
Debtors 6 1,979,053 1,801,748
Cash at bank and in hand 2,361,585 1,735,320
5,383,614 4,524,252
CREDITORS
Amounts falling due within one year 7 (927,181 ) (916,635 )
NET CURRENT ASSETS 4,456,433 3,607,617
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,785,407

3,822,696

PROVISIONS FOR LIABILITIES 9 (48,925 ) (24,622 )
NET ASSETS 4,736,482 3,798,074

CAPITAL AND RESERVES
Called up share capital 10 46 46
Capital redemption reserve 54 54
Retained earnings 4,736,382 3,797,974
SHAREHOLDERS' FUNDS 4,736,482 3,798,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.F. SOLUTIONS LIMITED (REGISTERED NUMBER: 02774001)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2025 and were signed on its behalf by:





J K Fairall - Director


R.F. SOLUTIONS LIMITED (REGISTERED NUMBER: 02774001)

Notes to the Financial Statements
for the year ended 30 September 2024

1. STATUTORY INFORMATION

R.F. Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

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 measured at fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when goods are delivered and legal title has passed

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.

Patents and licences are being amortised over their estimated useful life on ten years.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is the shorter.

Plant and machinery- 20% reducing balance
Fixtures and fittings- 20% reducing balance
Motor vehicles- 20% reducing balance or over the term of the lease
Furniture and equipment- 50% 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 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.


R.F. SOLUTIONS LIMITED (REGISTERED NUMBER: 02774001)

Notes to the Financial Statements - continued
for the year ended 30 September 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 41 ) .

R.F. SOLUTIONS LIMITED (REGISTERED NUMBER: 02774001)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

4. INTANGIBLE FIXED ASSETS
Patents and Development
licences costs Totals
£ £ £
COST
At 1 October 2023 14,423 - 14,423
Additions - 28,930 28,930
At 30 September 2024 14,423 28,930 43,353
AMORTISATION
At 1 October 2023 6,831 - 6,831
Amortisation for year 1,443 2,893 4,336
At 30 September 2024 8,274 2,893 11,167
NET BOOK VALUE
At 30 September 2024 6,149 26,037 32,186
At 30 September 2023 7,592 - 7,592

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Furniture &
machinery fittings vehicles Equipment Totals
£ £ £ £ £
COST
At 1 October 2023 904,902 487,463 129,277 102,614 1,624,256
Additions 33,894 11,928 119,185 6,507 171,514
Disposals - - (87,880 ) - (87,880 )
At 30 September 2024 938,796 499,391 160,582 109,121 1,707,890
DEPRECIATION
At 1 October 2023 746,521 439,851 129,277 101,120 1,416,769
Charge for year 38,454 11,911 29,796 2,052 82,213
Eliminated on disposal - - (87,880 ) - (87,880 )
At 30 September 2024 784,975 451,762 71,193 103,172 1,411,102
NET BOOK VALUE
At 30 September 2024 153,821 47,629 89,389 5,949 296,788
At 30 September 2023 158,381 47,612 - 1,494 207,487

R.F. SOLUTIONS LIMITED (REGISTERED NUMBER: 02774001)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 October 2023 133,597
Disposals (92,200 )
At 30 September 2024 41,397
DEPRECIATION
At 1 October 2023 133,597
Eliminated on disposal (92,200 )
At 30 September 2024 41,397
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 371,353 332,274
Amounts owed by associates 1,255,763 1,228,131
Other debtors 351,937 241,343
1,979,053 1,801,748

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 8) - 635
Trade creditors 68,079 527,534
Taxation and social security 655,616 198,967
Other creditors 203,486 189,499
927,181 916,635

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year - 635

R.F. SOLUTIONS LIMITED (REGISTERED NUMBER: 02774001)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

8. LEASING AGREEMENTS - continued

Non-cancellable
operating leases
2024 2023
£ £
Within one year 109,000 109,000
Between one and five years 281,583 436,000
In more than five years - 63,583
390,583 608,583

9. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 48,925 24,622

Deferred tax
£
Balance at 1 October 2023 24,622
Charge to Income Statement during year 24,303
Accelerated Capital Allowances
Balance at 30 September 2024 48,925

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
46 Ordinary 1 46 46

11. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for both directors. The assets of the scheme are held separately from those of the company in an independently administered fund. The company makes contributions to a group personal pension scheme set up on behalf of the employees. The costs of the scheme are charged to the profit and loss account in the year of contribution and amounted to £41,156 (2023: £46,917).

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£ £
J K Fairall
Balance outstanding at start of year 41,472 -
Amounts advanced 230,394 41,472
Amounts repaid (142,938 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 128,928 41,472

R.F. SOLUTIONS LIMITED (REGISTERED NUMBER: 02774001)

Notes to the Financial Statements - continued
for the year ended 30 September 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Director's loan is repayable on demand and is subject to interest at HMRC official rates on any amounts owed to the company.