Company No: 04275453 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

P Ashford

REGISTERED OFFICE	Arran Cottage 6 The Row
	Aust
	Bristol
	BS35 4AY
	United Kingdom

COMPANY NUMBER

04275453 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	4th Floor EQ Building
	111 Victoria Street
	Redcliffe
	Bristol
	BS1 6AX

	Note	2024		2023
		€		€
Current assets
Debtors	3	121,321		33,151
Cash at bank and in hand		313,198		263,911
		434,519		297,062
Creditors: amounts falling due within one year	4	( 433,463)		( 296,006)
Net current assets		1,056		1,056
Total assets less current liabilities		1,056		1,056
Net assets		1,056		1,056
Capital and reserves
Called-up share capital		120		120
Profit and loss account		936		936
Total shareholder's funds		1,056		1,056

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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of R.T.F. Limited (registered number: 04275453) were approved and authorised for issue by the Director on 28 September 2025. They were signed on its behalf by:

P Ashford Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

R.T.F. Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Arran Cottage 6 The Row, Aust, Bristol, BS35 4AY, United Kingdom.

The financial statements have been prepared in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of R.T.F. Limited is considered to be EUR because that is the currency of the primary economic environment in which the Company operates.

Going concern

The financial statements have been prepared on a going concern basis.

The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover comprises costs incurred by the Company and recharged to consortium members. Costs incurred in relation to testing programmes are either forward funded, invoiced periodically or offset against amounts received by the Company in its capacity as agent. Where a testing programme is ongoing and sufficient funds are held, costs are built up in accrued income pending the final reconciliation of amounts due to/from each member.

All research conducted by the Company is on behalf of the consortium.

Turnover excludes additional sales of €Nil (2023 - €Nil) where the company acts as agent only. Trade debtors of €1,700,000 (2023 - €1,700,000) relating to these agent sales have also been excluded from the balance sheet. All research conducted by the Company is on behalf of the consortium.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Debtors

	2024		2023
	€		€
Trade debtors	117,311		31,437
Prepayments	95		94
VAT recoverable	3,915		1,620
	121,321		33,151

4. Creditors: amounts falling due within one year

	2024		2023
	€		€
Trade creditors	4,741		33,439
Accruals and deferred income	422,861		249,319
Other creditors	5,861		13,248
	433,463		296,006

Included within other creditors due within one year is an amount of €5,861 (2023 – €9,300) owed to a company under common control. This loan is unsecured and is repayable on demand.