RMS Electrical Engineering Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08374158

RMS ELECTRICAL ENGINEERING LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 January 2025

RMS ELECTRICAL ENGINEERING LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30th JANUARY 2025

CONTENTS	PAGES

Statement of financial position	1 to 2

Notes to the financial statements	3 to 8

RMS ELECTRICAL ENGINEERING LIMITED

STATEMENT OF FINANCIAL POSITION

30 January 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		154,569		150,734

CURRENT ASSETS

Debtors	6	544,852	506,582
Cash at bank and in hand		119,193	33,560
		----------	----------
		664,045	540,142

CREDITORS: amounts falling due within one year	7	196,647		105,930
		----------		----------
NET CURRENT ASSETS			467,398		434,212
			----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			621,967		584,946

CREDITORS: amounts falling due after more than one year	8		86,454		112,161

PROVISIONS

Taxation including deferred tax	38,642	37,684
	----------	----------
NET ASSETS	496,871	435,101
	----------	----------

CAPITAL AND RESERVES

Called up share capital	10	100	100
Profit and loss account		496,771	435,001
		----------	----------
SHAREHOLDERS FUNDS		496,871	435,101
		----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30th January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

RMS ELECTRICAL ENGINEERING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 January 2025

These financial statements were approved by the board of directors and authorised for issue on 28 October 2025 , and are signed on behalf of the board by:

R. M. Sergeant
Director

Company registration number: 08374158

RMS ELECTRICAL ENGINEERING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30th JANUARY 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Post Office, 63 Saville Street, North Shields, Tyne and Wear, NE30 1AY.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on the going concern basis. The director considers that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's director, bankers and other lending agents during this time.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	25% reducing balance
Motor Vehicles	-	20% reducing balance
Office Equipment	-	33% reducing balance

Hire purchase contracts

Assets held under hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum hire purchase contract payments, which is determined at the inception of the hire purchase contract term. Any initial direct costs of the hire purchase contract are added to the amount recognised as an asset. Hire purchase contract payments are apportioned between the finance charges and reduction of the outstanding hire purchase contract liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

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 the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 10 (2024: 9 ).

5. TANGIBLE ASSETS

	Plant and Machinery	Motor vehicles	Office Equipment	Total
	£	£	£	£
Cost
At 31st January 2024	56,107	128,466	3,654	188,227
Additions	36,760	–	778	37,538
	---------	----------	-------	----------
At 30th January 2025	92,867	128,466	4,432	225,765
	---------	----------	-------	----------
Depreciation
At 31st January 2024	24,095	12,471	927	37,493
Charge for the year	9,440	23,199	1,064	33,703
	---------	----------	-------	----------
At 30th January 2025	33,535	35,670	1,991	71,196
	---------	----------	-------	----------
Carrying amount
At 30th January 2025	59,332	92,796	2,441	154,569
	---------	----------	-------	----------
At 30th January 2024	32,012	115,995	2,727	150,734
	---------	----------	-------	----------

Obligations under hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and Machinery	Motor vehicles	Total
	£	£	£
At 30th January 2025	45,977	74,726	120,703
	---------	---------	----------
At 30th January 2024	27,983	93,407	121,390
	---------	---------	----------

6. DEBTORS

	2025	2024
	£	£
Trade debtors	–	18,178
Director's loan account	410,374	366,498
Section 455 tax recoverable	132,087	117,279
Other debtors	2,391	4,627
	----------	----------
	544,852	506,582
	----------	----------

7. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loan	10,000	10,500
Accruals	38,144	4,432
Corporation tax	31,905	51,662
Social security and other taxes	79,811	13,416
Obligations under finance leases and hire purchase contracts	34,470	23,513
Company credit card	2,317	2,407
	----------	----------
	196,647	105,930
	----------	----------

The hire purchase contracts included within creditors: amounts falling due within one year are secured on the assets that were purchased in this way.

8. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loan	16,060	25,560
Obligations under finance leases and hire purchase contracts	70,394	86,601
	---------	----------
	86,454	112,161
	---------	----------

The hire purchase contracts included within creditors: amounts falling due after more than one year are secured on the assets that were purchased in this way.

9. DEFERRED TAX

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	38,642	37,684
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	38,642	37,684
	---------	---------

10. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
R. M. Sergeant	366,498	151,858	( 107,982)	410,374
	----------	----------	----------	----------

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
R. M. Sergeant	278,834	149,235	( 61,571)	366,498
	----------	----------	---------	----------

12. RELATED PARTY TRANSACTIONS

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A small entities.