Resin Coating Specialists (RCS) Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08414806 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

FOR

RESIN COATING SPECIALISTS (RCS) LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K D Boyd

REGISTERED OFFICE:

14 Warwick Drive

Wallasey

Cheshire

CH45 7PJ

REGISTERED NUMBER:

08414806 (England and Wales)

ACCOUNTANTS:

Walker Begley Limited

Chartered Accountants

207 Knutsford Road

Grappenhall

Warrington

Cheshire

WA4 2QL

FIXED ASSETS

Tangible assets

4

56,790

38,355

CURRENT ASSETS

Stocks

2,000

2,000

Debtors

106,740

152,932

Cash at bank

206,647

300,884

315,387

455,816

CREDITORS

Amounts falling due within one year

137,374

139,380

NET CURRENT ASSETS

178,013

316,436

TOTAL ASSETS LESS CURRENT LIABILITIES

234,803

354,791

CREDITORS

Amounts falling due after more than one year

(31,930

)

-

PROVISIONS FOR LIABILITIES

(4,001

)

(4,001

)

NET ASSETS

198,872

350,790

CAPITAL AND RESERVES

Called up share capital

50

100

Capital redemption reserve

50

-

Retained earnings

198,772

350,690

SHAREHOLDERS' FUNDS

198,872

350,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 November 2022 and were signed by:

K Boyd - Director

1.	STATUTORY INFORMATION

Resin Coating Specialists (RCS) 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.

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

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.

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 8 (2021 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2021

102,619

Additions

44,023

Disposals

(36,198

)

At 28 February 2022

110,444

DEPRECIATION

At 1 March 2021

64,264

Charge for year

11,816

Eliminated on disposal

(22,426

)

At 28 February 2022

53,654

NET BOOK VALUE

At 28 February 2022

56,790

At 28 February 2021

38,355