REGISTERED NUMBER: NI603868 (Northern Ireland)

RLA (N.I.) LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr R J Reid

Mrs L M Reid

Mrs L Maxwell

REGISTERED OFFICE:

94 Old Eglish Road

Dungannon

Co. Tyrone

BT71 7PG

REGISTERED NUMBER:

NI603868 (Northern Ireland)

ACCOUNTANTS:

McAleer Jackson Ltd

Chartered Accountants

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

BANKERS:

Barclays Bank

1 Churchill Place,

London

E14 5HP

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 March 2025 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

McAleer Jackson Ltd

Chartered Accountants

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

22 July 2025

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

598,754

584,823

598,754

584,823

CURRENT ASSETS

Stocks

727,000

779,083

Debtors

6

1,746,682

1,705,519

Cash at bank

1,004,699

921,747

3,478,381

3,406,349

CREDITORS

Amounts falling due within one year

7

902,076

582,923

NET CURRENT ASSETS

2,576,305

2,823,426

TOTAL ASSETS LESS CURRENT LIABILITIES

3,175,059

3,408,249

CREDITORS

Amounts falling due after more than one year

8

1,500

1,500

NET ASSETS

3,173,559

3,406,749

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,173,459

3,406,649

SHAREHOLDERS' FUNDS

3,173,559

3,406,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2025 and were signed on its behalf by:

Mr R J Reid - Director

Mrs L M Reid - Director

Mrs L Maxwell - Director

1.	STATUTORY INFORMATION

RLA (N.I.) Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provisions for impairment.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Buildings - 5% straight line

Improvements to leasehold property - 5% straight line

Plant & equipment - 20% straight line

Motor vehicles for hire - 20% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

195,000

AMORTISATION

At 1 April 2024

and 31 March 2025

195,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Motor

leasehold

Plant &

vehicles

Buildings

property

equipment

for hire

Totals

£

£

£

£

£

COST

At 1 April 2024

126,842

52,515

352,768

1,310,727

1,842,852

Additions

10,700

-

15,125

218,311

244,136

Disposals

-

-

(31,623

)

(21,817

)

(53,440

)

At 31 March 2025

137,542

52,515

336,270

1,507,221

2,033,548

DEPRECIATION

At 1 April 2024

22,684

25,882

207,374

1,002,089

1,258,029

Charge for year

6,878

2,626

45,215

169,161

223,880

Eliminated on disposal

-

-

(25,298

)

(21,817

)

(47,115

)

At 31 March 2025

29,562

28,508

227,291

1,149,433

1,434,794

NET BOOK VALUE

At 31 March 2025

107,980

24,007

108,979

357,788

598,754

At 31 March 2024

104,158

26,633

145,394

308,638

584,823

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,658,392

1,651,389

Other debtors

88,290

54,130

1,746,682

1,705,519

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

53,768

1,955

Trade creditors

-

126,000

Taxation and social security

446,083

452,848

Other creditors

402,225

2,120

902,076

582,923

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

1,500

1,500

2025

2024

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Directors loan

1,500

1,500

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the year end the company owed members of key management personnel a total of £1,500. No interest is to be charged on the loan. At the balance sheet date, the loan is presented within creditors: amounts falling due after more than one year.

10.	ULTIMATE CONTROLLING PARTY

The directors are considered to be the ultimate controlling party by virtue of their shareholding in the parent company Obsidotec Ltd.