RBCA Limited


Directors	BOYD, Ross Alexander
	GILL, Jane
	STEWART, Brian


Company Secretary	AIREY, Sarah


Registered Address	Linenhall Exchange
	26 Linenhall Street
	Belfast
	BT2 8BG


Registered Number	NI648325 (Northern Ireland)

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	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).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Judgements and key sources of estimation uncertainty
	In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are as follows: - Work in progress: work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. Determining the stage of completion requires management's judgment based on various factors including the percentage of completion, costs incurred to date, and the expected total costs to complete the project; - Bad debt provisions: part of the company's credit control process is to regularly monitor the recoverability of trade trade debtors, and make adequate provision for any doubtful debtors. Bad debt provisions are calculated based on all information available to the company at the time; and - Accruals: these are recognised in the financial statements to reflect liabilities that have been incurred as at the reporting date but have not yet been paid or formally recognised. Estimates for accruals are made based on committed expenditure at the reporting date with reference to purchase invoices or purchase orders.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are as follows:
  -  Work in progress: work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. Determining the stage of completion requires management's judgment based on various factors including the percentage of completion, costs incurred to date, and the expected total costs to complete the project;
  -  Bad debt provisions: part of the company's credit control process is to regularly monitor the recoverability of trade trade debtors, and make adequate provision for any doubtful debtors. Bad debt provisions are calculated based on all information available to the company at the time; and
  -  Accruals: these are recognised in the financial statements to reflect liabilities that have been incurred as at the reporting date but have not yet been paid or formally recognised. Estimates for accruals are made based on committed expenditure at the reporting date with reference to purchase invoices or purchase orders.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Borrowing costs
	Interest payable on loans is recognised in profit or loss in the period in which it is incurred.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Land and buildings	10
	Fixtures and fittings	5
	Office Equipment	5

	Stocks and work in progress
	Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

	Share capital
	Ordinary shares are classified as equity.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	20		16

3.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 January 24	5,000
	Additions	711,107
	Disposals	(5,000)
	At 31 December 24	711,107
	Amortisation and impairment
	At 01 January 24	2,500
	Charge for year	11,852
	On disposals	(2,500)
	At 31 December 24	11,852
	Net book value
	At 31 December 24	699,255
	At 31 December 23	2,500

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 January 24	63,482
	Additions	245
	At 31 December 24	63,237
	Depreciation and impairment
	At 01 January 24	16,678
	Charge for year	14,430
	At 31 December 24	30,618
	Net book value
	At 31 December 24	32,619
	At 31 December 23	46,804

5.	Stocks

	2024	2023
	£	£
Work in progress	198,000	210,000
Total	198,000	210,000

6.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	459,538	206,609
Other debtors	1	1,086
Prepayments and accrued income	18,270	13,828
Total	477,809	221,523

7.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	63,077	31,247
Bank borrowings and overdrafts	49,065	5,112
Amounts owed to related parties	298,684	254,344
Taxation and social security	217,267	121,138
Other creditors	106,139	15,828
Accrued liabilities and deferred income	37,747	20,374
Total	771,979	448,043

8.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	672,888	22,617
Total	672,888	22,617

9.	Operating lease commitments
	At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £124,857 (2023 – £166,476)

10.	Related party transactions
	Ross Boyd London Limited is a related party by virtue of a common director and shareholder with the company. During the year the company made various payments to and received funds from Ross Boyd London Limited. At the year end the amount owed by the company to Ross Boyd London Limited was £234,408 (2023: £235,183). Ross Boyd Limited is a related party by virtue of a common director and shareholder with the company. During the year the company made various payments to and received funds from Ross Boyd Limited. At the year end the amount owed by the company to Ross Boyd Limited was £64,276 (2023: £19,161).

10.

Related party transactions

Ross Boyd London Limited is a related party by virtue of a common director and shareholder with the company. During the year the company made various payments to and received funds from Ross Boyd London Limited. At the year end the amount owed by the company to Ross Boyd London Limited was £234,408 (2023: £235,183).

Ross Boyd Limited is a related party by virtue of a common director and shareholder with the company. During the year the company made various payments to and received funds from Ross Boyd Limited. At the year end the amount owed by the company to Ross Boyd Limited was £64,276 (2023: £19,161).

11.	Controlling party
	The ultimate controlling party of the company is Ross Boyd by virtue of his shareholdings.

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	3		699,255		2,500
Tangible assets	4		32,619		46,804
			731,874		49,304
Current assets
Stocks	5	198,000		210,000
Debtors	6	477,809		221,523
Cash at bank and on hand		107,791		32,345
		783,600		463,868
Creditors amounts falling due within one year	7	(771,979)		(448,043)
Net current assets (liabilities)			11,621		15,825
Total assets less current liabilities			743,495		65,129
Creditors amounts falling due after one year	8		(672,888)		(22,617)
Net assets			70,607		42,512
Capital and reserves
Called up share capital			100		100
Profit and loss account			70,507		42,412
Shareholders' funds			70,607		42,512