RDM Test Equipment Limited - Accounts to registrar (filleted) - small 22.3

RDM Test Equipment Limited - Accounts to registrar (filleted) - small 22.3

RDM TEST EQUIPMENT LIMITED - Company Information

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REGISTERED NUMBER: 02073214 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022

FOR

RDM TEST EQUIPMENT LIMITED
RDM TEST EQUIPMENT LIMITED (REGISTERED NUMBER: 02073214)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


RDM TEST EQUIPMENT LIMITED (REGISTERED NUMBER: 02073214)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 183,632 186,261

CURRENT ASSETS
Inventories 135,000 197,050
Debtors 5 1,812,145 540,163
Cash at bank and in hand 568,905 864,733
2,516,050 1,601,946
CREDITORS
Amounts falling due within one year 6 688,866 536,007
NET CURRENT ASSETS 1,827,184 1,065,939
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,010,816
1,252,200

CREDITORS
Amounts falling due after more than one
year
7
331,758
89,378
NET ASSETS 1,679,058 1,162,822

CAPITAL AND RESERVES
Called up share capital 900 1,000
Retained earnings 1,678,158 1,161,822
SHAREHOLDERS' FUNDS 1,679,058 1,162,822

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 notes form part of these financial statements

Page 1 continued...
RDM TEST EQUIPMENT LIMITED (REGISTERED NUMBER: 02073214)

STATEMENT OF FINANCIAL POSITION - continued
31ST MARCH 2022


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 19th December 2022 and were signed on its behalf by:





J Thorndycraft - Director


The notes form part of these financial statements

Page 2
RDM TEST EQUIPMENT LIMITED (REGISTERED NUMBER: 02073214)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022

1. STATUTORY INFORMATION

RDM Test Equipment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02073214

Registered office: Unit 39 Golds Nursery Business Park
Jenkins Drive
Elsenham
Bishops Stortford
Hertfordshire
CM22 6JX

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
Revenue 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 cost, 25% on reducing balance and 20% on reducing balance

Stocks
Inventories 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Page 3 continued...
RDM TEST EQUIPMENT LIMITED (REGISTERED NUMBER: 02073214)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

2. ACCOUNTING POLICIES - continued

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 14 (2021 - 16 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2021 180,000 112,453 292,453
Disposals - (7,635 ) (7,635 )
At 31st March 2022 180,000 104,818 284,818
DEPRECIATION
At 1st April 2021 - 106,192 106,192
Charge for year - 1,572 1,572
Eliminated on disposal - (6,578 ) (6,578 )
At 31st March 2022 - 101,186 101,186
NET BOOK VALUE
At 31st March 2022 180,000 3,632 183,632
At 31st March 2021 180,000 6,261 186,261

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 551,338 485,603
Amounts owed by group undertakings 1,181,004 -
Other debtors 79,803 54,560
1,812,145 540,163

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 97,552 63,581
Trade creditors 453,746 324,026
Taxation and social security 110,740 91,762
Other creditors 26,828 56,638
688,866 536,007

Page 4 continued...
RDM TEST EQUIPMENT LIMITED (REGISTERED NUMBER: 02073214)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans 331,758 89,378

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 331,758 89,378

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.22 31.3.21
£    £   
Bank loans 428,991 152,959

A bank loan is secured by a first charge over the Freehold Property owned by the company and the second loan is secured by HM Government under the CIBLS Loan Scheme.

9. ULTIMATE CONTROLLING PARTY

The controlling party is P T Neal.

Page 5