RBC Services (Addlestone One) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09537900 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

RBC Services (Addlestone One) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Williams

E J Lyons

R Milstead

SECRETARY:

S J Keenan

REGISTERED OFFICE:

Runnymede Civic Centre

Station Road

Addlestone

Surrey

KT15 2AH

REGISTERED NUMBER:

09537900 (England and Wales)

AUDITORS:

CSL Partnership Limited

Chartered Certified Accountants

Statutory Auditors

238 Station Road

Addlestone

Surrey

KT15 2PS

FIXED ASSETS

Property, plant and equipment

4

-

Investments

5

1

CURRENT ASSETS

Debtors

6

922,996

476,965

Cash at bank and in hand

1,029,930

780,377

1,952,926

1,257,342

CREDITORS

Amounts falling due within one year

7

(1,637,102

)

(973,423

)

NET CURRENT ASSETS

315,824

283,919

TOTAL ASSETS LESS CURRENT LIABILITIES

315,825

283,920

CREDITORS

Amounts falling due after more than one year

8

(90,000

)

(90,000

)

NET ASSETS

225,825

193,920

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

225,725

193,820

SHAREHOLDERS' FUNDS

225,825

193,920

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 29 December 2025 and were signed on its behalf by:

E J Lyons - Director

1.	STATUTORY INFORMATION

RBC Services (Addlestone One) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 have been prepared on a going concern basis as the directors have a reasonable expectation that the company has access to adequate resources to continue in operation for the foreseeable future. That reasonable expectation is based on the following;

The company's parent is owned by Runnymede Borough Council (The Council).

The Council has provided all of the funding required to enable the group (of which the company is a member) to acquire its asset base as well as providing working capital funding as required.

The Council approved the group's business plans for the period to 31 March 2028 at a formal meeting of its Corporate Management Committee on 20 April 2023. Those business plans have subsequently been updated and the group has informed the Council that it will require financing to meet its cash flow requirements on a long term basis.

A report was taken to the Council's Corporate Management Committee in March 2025 setting out, amongst other items, options for refinancing the group. Members of the Council approved the recommendations in the report and a process of due diligence is currently being conducted prior to enactment.

These financial statements do not contain any adjustments that may be needed should those recommendations not be enacted.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue

Revenue represents income from services provided, net of discounts and value added tax.

Revenue is measured at the fair value of the consideration receivable. The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

Tangible fixed assets

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

Plant and machinery

-

25% on cost

Computer equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Computer

machinery

equipment

Totals

£

COST

At 1 April 2024

and 31 March 2025

15,188

2,640

17,828

DEPRECIATION

At 1 April 2024

and 31 March 2025

15,188

2,640

17,828

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

536,748

362,013

Other debtors

386,248

114,952

922,996

476,965

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

672,815

89,602

Amounts owed to group undertakings

42,064

32,041

VAT

13,392

31,442

Other creditors

771,208

657,041

Accruals and deferred income

137,623

163,297

1,637,102

973,423

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

Amounts owed to group undertakings

90,000

At 31 March 2025, the company owed £90,000 to its parent company RBC Investments (Surrey) Limited in relation to a loan facility agreement. The loan is repayable 10 years from the date of utilisation and interest is charged at a fixed rate of 7.54% per annum on £10,000 and 7.36% on £80,000. The loan was utilised in May and August 2018.

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

Within one year

11,885

Between one and five years

47,540

In more than five years

154,504

166,389

213,929

225,814

The company is party to two lease agreements.

The first is a twenty-five year lease with no break clause. The lease terms were renegotiated in 2018 and the annual rent payable was reduced from £40,000 per annum to £1 per annum.

The second lease is a twenty-five year lease with no break clause therefore the entirety of the rent payable is disclosed within this note. The annual rent payable is £11,884.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew John Lane (Senior Statutory Auditor)

for and on behalf of CSL Partnership Limited

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parent is RBC Investments (Surrey) Ltd.

(Registered office: Runnymede Civic Centre, Station Road, Addlestone, Surrey KT15 2AH.)