RMI (Midlands) Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08770873 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2022

FOR

RMI (MIDLANDS) LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Stephen Charles Baylis

REGISTERED OFFICE:

The Unit

Harrys Way

Lutterworth

Leicestershire

LE17 4NJ

REGISTERED NUMBER:

08770873 (England and Wales)

ACCOUNTANTS:

R Pau & Co Limited

Chartered Certified Accountants

12-16 Station Street East

Coventry

West Midlands

CV6 5FJ

BANKERS:

Lloyds Bank

1 Legg Street

Chelmsford

Essex

CM1 1JS

FIXED ASSETS

Tangible assets

4

1,633,097

1,060,679

CURRENT ASSETS

Stock

529,419

233,216

Debtors

1,113,478

747,454

Cash at bank and in hand

44,060

86,720

1,686,957

1,067,390

CREDITORS

Amounts falling due within one year

1,056,671

671,503

NET CURRENT ASSETS

630,286

395,887

TOTAL ASSETS LESS CURRENT LIABILITIES

2,263,383

1,456,566

CREDITORS

Amounts falling due after more than one year

1,540,168

616,047

NET ASSETS

723,215

840,519

CAPITAL AND RESERVES

Called up share capital

5

100

100

Retained earnings

723,115

840,419

SHAREHOLDERS' FUNDS

723,215

840,519

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 Balance Sheet for the year ended 31st July 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 24th January 2023 and were signed by:

Mr Stephen Charles Baylis - Director

1.	STATUTORY INFORMATION

RMI (Midlands) 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

Fixtures and fittings - 25% on reducing balance

Motor vehicles - 20% on reducing balance

Computer equipment - 33% on cost

Plant & Machinery - 15% on reducing balance

STOCKS

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stock to their present location and condition.

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 12 (2021 - 10 ) .

4.	TANGIBLE ASSETS

Totals

£

COST

At 1st August 2021

1,431,259

Additions

1,544,672

Disposals

(900,699

)

At 31st July 2022

2,075,232

DEPRECIATION

At 1st August 2021

370,580

Charge for year

323,543

Eliminated on disposal

(251,988

)

At 31st July 2022

442,135

NET BOOK VALUE

At 31st July 2022

1,633,097

At 31st July 2021

1,060,679

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100