Registration number:
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RPM Chislehurst Limited
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RPM Chislehurst Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
RPM Chislehurst Limited
Company Information
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Directors |
M G Clark F A Clark |
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Company secretary |
F A Clark |
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Registered office |
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Accountants |
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RPM Chislehurst Limited
Statement of Financial Position as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets/(liabilities) |
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Net assets/(liabilities) |
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Capital and reserves |
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Called up share capital |
1,000 |
1,000 |
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Retained earnings |
26,423 |
(29,172) |
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Shareholders' funds/(deficit) |
27,423 |
(28,172) |
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:
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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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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M G Clark
Director
Company registration number: 11730354
RPM Chislehurst Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
The principal activity of the company is those of consultancy and property development
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Accounting policies |
Statement of compliance
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' Section 1A and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
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.
Going concern
The company made a profit of £55,595 for the year ended 31 December 2024 and had net asset of £27,423 at that date.
The company purchased a property in 2022, and developments to bring the property to commercial viability remain in progress. The directors and shareholders confirmed that they are willing to continue supporting the company for the foreseeable future. Whilst initial architectural and planning works were being undertaken the company engaged in consultancy services and rented elements of the property on a short term basis to third parties.
The Directors and shareholders remain optimistic that the company and ongoing development will continue generate profitable returns in the future.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has access to adequate resources and sufficient working capital to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities and is shown net of sales\value added tax, rebates and discounts.
Turnover will in due course include the ultimate disposal proceeds generated by the sale of the development property. During the year however, sundry turnover relating to consulting services and the short term rental of the property continued to be generated. Such rentals will cease with the commencement of the development works on site or the sale of the property.
RPM Chislehurst Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge 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 statement of financial position 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:
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Asset class |
Depreciation method and rate |
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Office equipment |
4 year straight line |
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.
Stocks
The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories and property development to their present location and condition. At each reporting date, work in progress is assessed for impairment. If indicators of impairment are identified, the carrying amount is reduced to its selling price less costs to complete and sell. The associated impairment loss is recognised immediately in profit or loss.
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.
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Staff numbers |
The average number of persons employed by the company during the year, was
RPM Chislehurst Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Tangible assets |
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Office equipment |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Stocks |
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2024 |
2023 |
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Work in progress |
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Debtors |
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2024 |
2023 |
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Other debtors |
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RPM Chislehurst Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Included within other creditors are amounts due to directors and shareholders totalling £1,102,601 (2023: £1,093,450). No interest was charged on these balances, and no set repayment terms are in place.