REGISTERED NUMBER: 02904984 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

RELIABILITY TEAM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr T J Murphy

Mrs P A Murphy

REGISTERED OFFICE:

The Old Stables

Edenhall

Penrith

CA11 8ST

REGISTERED NUMBER:

02904984 (England and Wales)

ACCOUNTANTS:

Christian Douglass Accountants Limited

Chartered Accountants

The Old Stables

Edenhall

Penrith

CA11 8ST

FIXED ASSETS

Tangible assets

4

1,722

4,568

CURRENT ASSETS

Debtors

5

59,084

50,215

Cash at bank

18,527

23,159

77,611

73,374

CREDITORS

Amounts falling due within one year

6

76,739

66,135

NET CURRENT ASSETS

872

7,239

TOTAL ASSETS LESS CURRENT LIABILITIES

2,594

11,807

CREDITORS

Amounts falling due after more than one year

7

1,663

11,665

NET ASSETS

931

142

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

831

42

SHAREHOLDERS' FUNDS

931

142

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 28 December 2025 and were signed on its behalf by:

Mr T J Murphy - Director

1.	STATUTORY INFORMATION

Reliability Team Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02904984 and its registered office is at The Old Stables, Edenhall, Penrith, CA11 8ST.

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.

Turnover

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

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 etc

-

25% on reducing balance

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 1 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

35,345

DEPRECIATION

At 1 April 2024

30,777

Charge for year

2,846

At 31 March 2025

33,623

NET BOOK VALUE

At 31 March 2025

1,722

At 31 March 2024

4,568

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

33,096

28,306

Other debtors

25,988

21,909

59,084

50,215

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

14,271

9,310

Taxation and social security

43,353

40,825

Other creditors

9,115

6,000

76,739

66,135

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

1,663

11,665

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

Mr T J Murphy and Mrs P A Murphy

Balance outstanding at start of year

21,909

63,229

Amounts advanced

56,319

83,310

Amounts repaid

(52,240

)

(124,630

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

25,988

21,909

Interest was charged on the loan at 2.25% (2024: 2.5%).