Real Time Information Systems Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03822888 (England and Wales)

Financial Statements for the Year Ended 31 October 2021

for

Real Time Information Systems Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A Schirn

G T Nicholson

SECRETARY:

J A Schirn

REGISTERED OFFICE:

4 Reading Road

Pangbourne

Reading

Berkshire

RG8 7LY

REGISTERED NUMBER:

03822888 (England and Wales)

ACCOUNTANTS:

Geoffrey Cole & Co

Chartered Accountants

4 Reading Road

Pangbourne

Reading

Berkshire

RG8 7LY

FIXED ASSETS

Tangible assets

4

7,616

395

CURRENT ASSETS

Debtors

5

166,916

107,306

Cash at bank

2,358

59,757

169,274

167,063

CREDITORS

Amounts falling due within one year

6

124,666

123,534

NET CURRENT ASSETS

44,608

43,529

TOTAL ASSETS LESS CURRENT LIABILITIES

52,224

43,924

CREDITORS

Amounts falling due after more than one year

7

21,933

27,533

NET ASSETS

30,291

16,391

CAPITAL AND RESERVES

Called up share capital

100

80

Retained earnings

30,191

16,311

SHAREHOLDERS' FUNDS

30,291

16,391

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 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 26 July 2022 and were signed on its behalf by:

J A Schirn - Director

1.	STATUTORY INFORMATION

Real Time Information Systems Ltd 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.

The financial statements have been prepared on a going concern basis, which assumes the company will continue in operational existence, and will be able to meet its liabilities as they fall due, for a period of at least twelve months from the date of approval of the financial statements.

As stated in notes the director has reviewed the impact of COVID-19 on the operations and financial position of the company and has a reasonable expectation that the company has adequate resources to continue to adopt the going concern basis of accounting in preparing the financial statements.

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.

Fixtures and fittings

-

33% on reducing balance

Computer equipment

-

33% on 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.

Hire purchase and leasing commitments

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 6 (2020 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 November 2020

2,925

38,725

41,650

Additions

-

7,676

7,676

At 31 October 2021

2,925

46,401

49,326

DEPRECIATION

At 1 November 2020

2,594

38,661

41,255

Charge for year

109

346

455

At 31 October 2021

2,703

39,007

41,710

NET BOOK VALUE

At 31 October 2021

222

7,394

7,616

At 31 October 2020

331

64

395

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

88,235

68,012

Amounts recoverable on contract

67,976

28,818

Prepayments

10,705

10,476

166,916

107,306

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

5,600

467

Trade creditors

10,348

3,211

Tax

14,294

9,571

Social security and other taxes

4,773

3,667

VAT

20,486

39,295

Other creditors

10,661

12,673

Directors' current accounts

39,546

36,460

Accruals and deferred income

18,958

18,190

124,666

123,534

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 2-5 years

21,933

27,533

8.	LEASING AGREEMENTS

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

2021

2020

£

£

Within one year

12,043

12,043

Between one and five years

22,580

34,623

34,623

46,666

9.

COVID-19

At the balance sheet date and of the approval of these financial statements the COVID-19 pandemic is having a significant detrimental impact on social and financial economies of the world. The impact of COVID-19 and the measures the UK Government have announced are likely to have an impact on the operations of the company and its customers for the forthcoming period. The duration of the measures announced to tackle the COVID-19 pandemic has not been defined and there is considerable uncertainty in measuring the potential impact of the measures on the company. These factors and any future policy by the UK Government are largely outside the control of the company's director, but could impact the company.

Accordingly, the financial statements are prepared on a going concern basis, under which assets are recovered and liabilities repaid in the ordinary course of business. The accompanying financial statements do not include adjustments that would need to be made in the case the company was unable to continue as a going concern should the assumptions referred to above subsequently provide to be invalid.