RTC North Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02373630 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

RTC NORTH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr M Smith

Mr J Harrison

Mr C A Jones

Ms S Hart

Mr J Ollivere

Mr T Delange

REGISTERED OFFICE:

Loftus House

Colima Avenue

Sunderland Entreprise Park

Sunderland

Tyne and Wear

SR5 3XB

REGISTERED NUMBER:

02373630 (England and Wales)

SENIOR STATUTORY AUDITOR:

Michael Moran BA FCA

AUDITORS:

Robson Laidler Accountants Limited

Statutory Auditor

Fernwood House

Fernwood Road

Jesmond

Newcastle upon Tyne

Tyne and Wear

NE2 1TJ

FIXED ASSETS

Tangible assets

5

185,100

154,471

Investments

6

167

167

185,267

154,638

CURRENT ASSETS

Debtors

7

980,063

1,574,758

Cash at bank and in hand

2,366,437

1,475,638

3,346,500

3,050,396

CREDITORS

Amounts falling due within one year

8

1,302,081

1,313,706

NET CURRENT ASSETS

2,044,419

1,736,690

TOTAL ASSETS LESS CURRENT LIABILITIES

2,229,686

1,891,328

RESERVES

Income and expenditure account

2,229,686

1,891,328

2,229,686

1,891,328

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2021 and were signed on its behalf by:

Mr J Ollivere - Director

1.	STATUTORY INFORMATION

RTC North Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities at the date of the financial statements. If, in the future, such estimates and assumptions, which are based on management's best judgement at the date of the financial statements, deviate from the actual circumstances, the original estimates and judgements will be modified as appropriate in the year in which the circumstances change.

The financial statements are presented in Sterling (£).

The company has applied the following accounting policies:

Preparation of consolidated financial statements

The financial statements contain information about RTC North Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 402 of the Companies Act 2006 not to prepare consolidated financial statements as the company's subsidiaries are considered to be immaterial.

Income

Income is recognised on an accruals basis over the life of the projects undertaken by the company, together with grants receivable from various sources.

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

-

20% straight line basis

Computer equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

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.

Short term debtors and creditors

Debtors and creditors with no interest rate which are receivable or payable within one year are recorded at transaction price. Any loss arising from impairment are recognised immediately in profit and loss.

Cash and cash equivalents

Cash and cash equivalents comprises cash in hand and current balances with banks and other institutions, which are readily convertible to known amounts of cash and which are subject to insignificant risk of change in value.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 83 (2020 - 74 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

899,589

Additions

96,327

At 31 March 2021

995,916

DEPRECIATION

At 1 April 2020

745,118

Charge for year

65,698

At 31 March 2021

810,816

NET BOOK VALUE

At 31 March 2021

185,100

At 31 March 2020

154,471

6.	FIXED ASSET INVESTMENTS

Interest

Shares in

in other

group

participating

undertakings

interests

Totals

£

£

£

COST

At 1 April 2020

and 31 March 2021

2

165

167

NET BOOK VALUE

At 31 March 2021

2

165

167

At 31 March 2020

2

165

167

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

777,181

1,345,433

Amounts owed by group undertakings

1

1

Vat debtor

2,698

16,732

Amounts owed from related

parties

13,939

81,318

Tax recoverable

-

19,122

Deferred tax asset

92,325

-

Prepayments and accrued income

93,919

112,152

980,063

1,574,758

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Payments on account

949,632

1,018,027

Trade creditors

118,924

143,185

Amounts owed to group undertakings

1

1

Other creditors

99,698

40,435

Accruals and deferred income

133,826

112,058

1,302,081

1,313,706

9.	LEASING AGREEMENTS

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

2021

2020

£

£

Within one year

156,968

156,968

Between one and five years

627,872

627,872

In more than five years

-

156,968

784,840

941,808

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Moran BA FCA (Senior Statutory Auditor)

for and on behalf of Robson Laidler Accountants Limited

11.	COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee. The members have each undertaken to contribute an amount not exceeding £1 in the event of winding up.