Real Time Graphics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01817327 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Real Time Graphics Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

R L Taylor

J M Taylor

SECRETARY:

J M Taylor

REGISTERED OFFICE:

66 Stafford Street

Market Drayton

Shropshire

TF9 1JB

REGISTERED NUMBER:

01817327 (England and Wales)

ACCOUNTANTS:

Mitten Clarke Limited

Festival way

Festival Park

Stoke-On-Trent

ST1 5SQ

FIXED ASSETS

Tangible assets

4

1,092

17,295

Investment property

5

310,000

310,000

311,092

327,295

CURRENT ASSETS

Debtors

6

1,450

1,924

CREDITORS

Amounts falling due within one year

7

41,991

45,161

NET CURRENT LIABILITIES

(40,541

)

(43,237

)

TOTAL ASSETS LESS CURRENT LIABILITIES

270,551

284,058

CREDITORS

Amounts falling due after more than one year

8

(50,898

)

(50,892

)

PROVISIONS FOR LIABILITIES

(23,852

)

(21,341

)

NET ASSETS

195,801

211,825

CAPITAL AND RESERVES

Called up share capital

2

2

Other reserves

129,559

153,411

Retained earnings

66,240

58,412

SHAREHOLDERS' FUNDS

195,801

211,825

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 9 December 2020 and were signed on its behalf by:

R L Taylor - Director

1.	STATUTORY INFORMATION

Real Time Graphics 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.

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 as modified by the revaluation of certain assets.

The financial statements cover the company as an individual entity and are presented in Pounds Sterling (£) being the functional currency.

The financial statements have been prepared on a going concern basis on the assumption that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have made this assessment with regard to the company’s current and expected performance.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Computer equipment

-

33.33% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Basic financial assets and liabilities are initially measured at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax, if applicable. 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 statement of financial position date.

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.

Turnover

Turnover represents rental income receivable in the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2019

16,001

2,625

14,498

225

33,349

Reclassification/transfer

(16,001

)

-

-

-

(16,001

)

At 31 March 2020

-

2,625

14,498

225

17,348

DEPRECIATION

At 1 April 2019

-

2,433

13,502

119

16,054

Charge for year

-

28

99

75

202

At 31 March 2020

-

2,461

13,601

194

16,256

NET BOOK VALUE

At 31 March 2020

-

164

897

31

1,092

At 31 March 2019

16,001

192

996

106

17,295

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

and 31 March 2020

310,000

NET BOOK VALUE

At 31 March 2020

310,000

At 31 March 2019

310,000

Fair value at 31 March 2020 is represented by:

£

Valuation in 2019

153,411

Cost

156,589

310,000

Investment property was valued on an open market basis on 31 March 2019 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

1,450

1,924

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

2,890

3,983

Taxation and social security

3,387

3,387

Other creditors

35,714

37,791

41,991

45,161

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

50,898

50,892

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

50,898

50,892

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

50,898

50,892

The bank loans are secured by way of a fixed and floating charge on the property.

10.	POST BALANCE SHEET EVENTS

In March 2020 the UK was impacted by the outbreak of the Coronavirus. In order to manage the spread of the virus the Government imposed significant restrictions on the movement of people and the ability of businesses to continue to trade. This event occurred after the company's reporting period and so is considered to be a non-adjusting event, however there has been no significant impact on the results to March 2021.

The directors are not able to make a reliable estimate of the financial impact of the Coronavirus outbreak in the reporting period to 31 March 2021, although there are no concerns about the future viability of the company, for the reasons stated in the directors report.