Rf Global Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC272974 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

RF GLOBAL SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

I Stuart

Mrs A Stuart

SECRETARY:

A Stuart

REGISTERED OFFICE:

21 Langlands Place

Kelvin South Industrial Estate

East Kilbride

G75 0YF

REGISTERED NUMBER:

SC272974 (Scotland)

ACCOUNTANTS:

Mark Toma & Company Limited

Chartered Accountants & Business Advisers

48 Nithsdale Road

Glasgow

G41 2AN

FIXED ASSETS

Tangible assets

4

130,704

149,146

CURRENT ASSETS

Stocks

211,360

253,750

Debtors

5

170,468

198,710

Cash at bank

651,870

583,148

1,033,698

1,035,608

CREDITORS

Amounts falling due within one year

6

300,750

304,106

NET CURRENT ASSETS

732,948

731,502

TOTAL ASSETS LESS CURRENT LIABILITIES

863,652

880,648

CREDITORS

Amounts falling due after more than one year

7

70,104

76,940

NET ASSETS

793,548

803,708

CAPITAL AND RESERVES

Called up share capital

75

75

Retained earnings

793,473

803,633

SHAREHOLDERS' FUNDS

793,548

803,708

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 on 16 January 2020 and were signed on its behalf by:

Mrs A Stuart - Director

I Stuart - Director

1.	STATUTORY INFORMATION

Rf Global Solutions Limited is a private company, limited by shares , registered in Scotland. 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost and 15% on cost

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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2018 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2018

190,117

220,679

410,796

Additions

-

44,286

44,286

At 30 September 2019

190,117

264,965

455,082

DEPRECIATION

At 1 October 2018

114,072

147,578

261,650

Charge for year

19,011

43,717

62,728

At 30 September 2019

133,083

191,295

324,378

NET BOOK VALUE

At 30 September 2019

57,034

73,670

130,704

At 30 September 2018

76,045

73,101

149,146

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2018

and 30 September 2019

130,198

DEPRECIATION

At 1 October 2018

57,192

Charge for year

32,550

At 30 September 2019

89,742

NET BOOK VALUE

At 30 September 2019

40,456

At 30 September 2018

73,006

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade debtors

154,603

192,518

Other debtors

15,865

6,192

170,468

198,710

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Hire purchase contracts

6,829

6,829

Trade creditors

69,823

38,263

Taxation and social security

53,558

73,875

Other creditors

170,540

185,139

300,750

304,106

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.19

30.9.18

£

£

Hire purchase contracts

70,104

76,940

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.19

30.9.18

£

£

Hire purchase contracts

76,933

-

Debt Factors

128,641

166,690

205,574

166,690

Advances made by the company's debt factors are secured over trade debtors.

Hire purchase creditors are secured over the assets to which they relate.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors are amounts due to the directors.

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 order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Rf Global Solutions Limited for the year ended 30 September 2019 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Rf Global Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rf Global Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Rf Global Solutions Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rf Global Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rf Global Solutions Limited. You consider that Rf Global Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rf Global Solutions Limited. 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 statutory financial statements.

Mark Toma & Company Limited

Chartered Accountants & Business Advisers

48 Nithsdale Road

Glasgow

G41 2AN

16 January 2020