General Information
Rutva Enterprise Ltd is a private company, limited by shares, registered in England and Wales, registration number 11708952, registration address 9 Warham Road, Harrow, HA3 7JE.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The financial statements have been prepared on a going concern basis, not withstanding net current liabilities of £15,900 (2023 - £21,268), the directors of the company have provided the company with an undertaking that they will continue to support the company financially for the foreseeable future and they will not seek repayment of the amount currently owing to them in the twelve months from the date of signing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
Assets held under finance leases are capitalised at inception at the lower of fair value or the present value of minimum lease payments and are depreciated over their useful lives or lease term. The corresponding lease obligations, net of finance charges, are included in creditors. Lease payments are apportioned between finance charges and reduction of the liability; finance charges are charged to profit or loss.
Rentals under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Motor Vehicles |
25% Reducing Balance
|
| Computer Equipment |
33.33% Straight Line
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 3 (2023 : 2).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Motor Vehicles |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 January 2024 |
16,898 |
|
3,580 |
|
20,478 |
| Additions |
32,250 |
|
1,873 |
|
34,123 |
| Disposals |
(16,898) |
|
- |
|
(16,898) |
| At 31 December 2024 |
32,250 |
|
5,453 |
|
37,703 |
| Depreciation |
| At 01 January 2024 |
12,888 |
|
2,506 |
|
15,394 |
| Charge for year |
8,063 |
|
1,360 |
|
9,423 |
| On disposals |
(12,888) |
|
- |
|
(12,888) |
| At 31 December 2024 |
8,063 |
|
3,866 |
|
11,929 |
| Net book values |
| Closing balance as at 31 December 2024 |
24,187 |
|
1,587 |
|
25,774 |
| Opening balance as at 01 January 2024 |
4,010 |
|
1,074 |
|
5,084 |
|
| 4. |
Stocks
|
2024
£ |
|
2023
£ |
| Stocks |
7,050 |
|
6,625 |
|
7,050 |
|
6,625 |
|
| 5. |
Debtors: amounts falling due within one year
|
2024
£ |
|
2023
£ |
| Trade Debtors |
11,567 |
|
24,256 |
| Other Debtors |
4,346 |
|
1,627 |
|
15,913 |
|
25,883 |
|
| 6. |
Creditors: amount falling due within one year
|
2024
£ |
|
2023
£ |
| Trade Creditors |
2,911 |
|
0 |
| Bank Loans & Overdrafts |
1,625 |
|
388 |
| Taxation and Social Security |
0 |
|
5,244 |
| Obligations under HP/Financial Leases |
6,438 |
|
0 |
| Other Creditors |
39,165 |
|
51,923 |
|
50,139 |
|
57,555 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2024
£ |
|
2023
£ |
| Obligations under HP/Financial Leases |
22,056 |
|
0 |
|
22,056 |
|
0 |
|
| 8. |
Related party disclosure
Included in the other creditors is a sum of £35,268 (2023 - £44,062) owed to the director of the company.
|
2
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