Registration number: 06442163

Rmg Contractors Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Rmg Contractors Limited

Company Information

Directors

Mr. R Tester Mr. GR Tester Mr. M Tester

Registered office

222 Wolverton Road Blakelands Milton Keynes Buckinghamshire MK14 5AB

Accountants

Veracitas Financial Consultants Ltd Chartered8 Park View Tickford Street Newport Pagnell Buckinghamshire MK16 9AD

Rmg Contractors Limited

(Registration number: 06442163)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	42,886	56,444
Current assets
Debtors	5	74,908	40,923
Cash at bank and in hand		44,851	82,105
		119,759	123,028
Creditors: Amounts falling due within one year	6	(102,346)	(68,981)
Net current assets		17,413	54,047
Total assets less current liabilities		60,299	110,491
Creditors: Amounts falling due after more than one year	6	(60,128)	(73,969)
Net assets		171	36,522
Capital and reserves
Called up share capital	7	100	100
Retained earnings		71	36,422
Shareholders' funds		171	36,522

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:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 January 2025 and signed on its behalf by:
 

Rmg Contractors Limited

(Registration number: 06442163)
Balance Sheet as at 31 December 2024

......................................... Mr. R Tester Director

......................................... Mr. M Tester Director

Rmg Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
222 Wolverton Road
Blakelands
Milton Keynes
Buckinghamshire
MK14 5AB

These financial statements were authorised for issue by the Board on 15 January 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change 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.

Rmg Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet 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:

Asset class	Depreciation method and rate
Office and Fixtures	25% Reducing Balance
Plant, Vans and Macinery	25% Reducing Balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Rmg Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

Rmg Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	13,130	81,523	94,653
Additions	-	383	383
At 31 December 2024	13,130	81,906	95,036
Depreciation
At 1 January 2024	8,889	29,320	38,209
Charge for the year	795	13,146	13,941
At 31 December 2024	9,684	42,466	52,150
Carrying amount
At 31 December 2024	3,446	39,440	42,886
At 31 December 2023	4,241	52,203	56,444

5

Debtors

Current	2024 £	2023 £
Trade debtors	4,908	40,923
Other debtors	70,000	-
	74,908	40,923

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	9,038	9,038
Trade creditors		51,738	17,972
Taxation and social security		32,091	29,599
Accruals and deferred income		819	1,740
Other creditors		8,660	10,632
		102,346	68,981

Creditors: amounts falling due after more than one year

Rmg Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	60,128	73,969

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	2,116	8,116
Hire purchase contracts	2,055	4,704
Other borrowings	55,957	61,149
	60,128	73,969

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	6,389	6,389
Hire purchase contracts	2,649	2,649
	9,038	9,038