RG Engineering Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07885434

RG ENGINEERING LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

RG ENGINEERING LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		8,542		10,653

CURRENT ASSETS

Stocks		10,250	11,500
Debtors	6	1,679	15,482
Cash at bank and in hand		6,347	4,843
		--------	--------
		18,276	31,825

CREDITORS: amounts falling due within one year	7	48,065		52,120
		--------		--------
NET CURRENT LIABILITIES			29,789		20,295
			--------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			( 21,247)		( 9,642)
			--------		-------
NET LIABILITIES			( 21,247)		( 9,642)
			--------		-------

CAPITAL AND RESERVES

Called up share capital	2	2
Profit and loss account	( 21,249)	( 9,644)
	--------	-------
SHAREHOLDERS DEFICIT	( 21,247)	( 9,642)
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

RG ENGINEERING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 15 September 2025 , and are signed on behalf of the board by:

Mr G Wainwright Director

Company registration number: 07885434

RG ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 18 Enterprise Centre, East Northants Michael Way, Warth Park, Raunds, Northamptonshire, NN9 6GR.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the director. On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. TANGIBLE ASSETS

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	34,922	21,063	55,985
	--------	--------	--------
Depreciation
At 1 January 2024	29,400	15,932	45,332
Charge for the year	828	1,283	2,111
	--------	--------	--------
At 31 December 2024	30,228	17,215	47,443
	--------	--------	--------
Carrying amount
At 31 December 2024	4,694	3,848	8,542
	--------	--------	--------
At 31 December 2023	5,522	5,131	10,653
	--------	--------	--------

6. DEBTORS

	2024	2023
	£	£
Trade debtors	300	14,804
Other debtors	1,379	678
	-------	--------
	1,679	15,482
	-------	--------

7. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	4,794	7,511
Social security and other taxes	9,324	10,925
Other creditors	33,947	33,684
	--------	--------
	48,065	52,120
	--------	--------

8. RELATED PARTY TRANSACTIONS AND CONTROL

The director has advanced monies to the company. At 31 December 2024 the amount due from the company was £31,347 (2023 - £30,934).

9. GOING CONCERN

The director has considered the period to 30 September 2026 when assessing the company's ability to continue as a going concern. It is believed that the company will either be able to satisfy it's liabilities as these become payable, or alternatively will be sold as a going concern.