R.M.D. Contracts Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02164369 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

R.M.D. Contracts Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Robinson

P J Robinson

J J Loton

SECRETARY:

Mrs D M Robinson

REGISTERED OFFICE:

Unit 4

Broadway Industrial Estate

Outram Road

Dukinfield

Cheshire

SK16 4XE

REGISTERED NUMBER:

02164369 (England and Wales)

ACCOUNTANTS:

Lomas and Company Accountants Limited

Bridge House

12 Market Street

Glossop

Derbyshire

SK13 8AR

FIXED ASSETS

Tangible assets

5

178,532

248,597

Investments

6

1,000

179,532

249,597

CURRENT ASSETS

Stocks

15,000

Debtors

7

4,210,989

4,484,624

Cash at bank and in hand

937,952

739,636

5,163,941

5,239,260

CREDITORS

Amounts falling due within one year

8

1,893,670

2,054,842

NET CURRENT ASSETS

3,270,271

3,184,418

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,449,803

3,434,015

CREDITORS

Amounts falling due after more than one
year

9

(193,190

)

(485,378

)

PROVISIONS FOR LIABILITIES

(34,760

)

(44,716

)

NET ASSETS

3,221,853

2,903,921

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

3,221,851

2,903,919

SHAREHOLDERS' FUNDS

3,221,853

2,903,921

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

P J Robinson - Director

1.	STATUTORY INFORMATION

R.M.D. Contracts 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.	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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Revenue recognition

Income recognition represents the turnover attributable for contract activity during the year, exclusive of VAT. This is measured on an accruals basis, attributing the revenue to the period in which the service was performed, where activity overlaps the year end.

Profit on long term contracts is taken as the work is carried out, if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of work carried out by the year end by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract revenue which costs incurred to date bear to total expected costs for that contract. Revenue derived from variations on contracts is only recognised when they have been accepted by customers.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Investments in subsidiaries

Investment in subsidiaries and associated undertakings are accounted for at cost less impairment.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over th 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 32 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

21,031

11,516

506,878

74,363

613,788

Additions

-

13,501

1,381

14,882

Disposals

-

(81,648

)

-

(81,648

)

At 31 December 2024

21,031

11,516

438,731

75,744

547,022

DEPRECIATION

At 1 January 2024

18,631

9,062

278,166

59,332

365,191

Charge for year

480

368

54,510

5,416

60,774

Eliminated on disposal

-

(57,475

)

-

(57,475

)

At 31 December 2024

19,111

9,430

275,201

64,748

368,490

NET BOOK VALUE

At 31 December 2024

1,920

2,086

163,530

10,996

178,532

At 31 December 2023

2,400

2,454

228,712

15,031

248,597

Included above are fixed assets subject to hire purchase contracts whose net book value is £123,697 (2023 - £202,886).

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 January 2024

and 31 December 2024

1,000

NET BOOK VALUE

At 31 December 2024

1,000

At 31 December 2023

1,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

2,151,278

1,894,364

Amounts owed by group undertakings

1,942,393

1,942,090

Amount recoverable on contracts

17,737

602,773

Other debtors

37,744

45,397

VAT

45,410

-

Prepayments

16,427

-

4,210,989

4,484,624

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

250,008

Hire purchase contracts

42,683

58,780

Trade creditors

1,192,815

1,494,409

Tax

258,337

91,165

Social security and other taxes

104,659

103,523

VAT

-

24,549

Other creditors

1,000

838

Credit card

3,856

-

Accrued expenses

40,312

31,570

1,893,670

2,054,842

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

Bank loans - 1-2 years

104,130

250,008

Bank loans - 2-5 years

-

104,130

Hire purchase contracts

89,060

131,240

193,190

485,378

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank loans

354,138

604,146

Hire purchase contracts

131,743

190,020

485,881

794,166

Bank borrowings are secured by a fixed and floating charge over the assets of the company dated 12 July 2012 in favour of National Westminster Bank PLC.

Hire purchase liabilities are secured on the assets financed.

11.	ULTIMATE CONTROLLING PARTY

The directors regard R.M.D. Holdings Limited, a company incorporated in England and Wales, as being the company's ultimate parent undertaking and controlling party.

The registered office of R.M.D.Holdings Limited is Unit 4, Broadway Industrial Estate, Outram Road, Dukinfield, Cheshire SK16 4XE.