RfM Fylde Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09532900 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

FOR

RFM FYLDE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A J Meikle

Ms G Telford

Mr P C Newsham

Mrs S Flynn

REGISTERED OFFICE:

Summerdale

Head Dyke Lane

Pilling

Preston

Lancashire

PR3 6SJ

REGISTERED NUMBER:

09532900 (England and Wales)

FIXED ASSETS

Intangible assets

4

76,365

101,132

Tangible assets

5

9,062

10,155

85,427

111,287

CURRENT ASSETS

Stocks

62,926

88,735

Debtors

6

123,354

114,243

Cash at bank and in hand

101,845

182,488

288,125

385,466

CREDITORS

Amounts falling due within one year

7

231,456

246,910

NET CURRENT ASSETS

56,669

138,556

TOTAL ASSETS LESS CURRENT LIABILITIES

142,096

249,843

CREDITORS

Amounts falling due after more than one year

8

(108,929

)

(170,550

)

PROVISIONS FOR LIABILITIES

(2,132

)

(2,363

)

NET ASSETS

31,035

76,930

CAPITAL AND RESERVES

Called up share capital

101

100

Retained earnings

30,934

76,830

SHAREHOLDERS' FUNDS

31,035

76,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2023 and were signed on its behalf by:

Mr A J Meikle - Director

1.	STATUTORY INFORMATION

RfM Fylde 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.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

GOVERNMENT GRANTS

Government grants which are revenue grants are accounted for on the performance model. A grant that does not impose specified future performance-related conditions is recognised in other income when the grant proceeds are received or receivable. A grant that imposes specified future performance-related conditions on the company is recognised in income only when the performance-related conditions are met.

STOCKS

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 15 (2021 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2021

and 30 June 2022

247,670

AMORTISATION

At 1 July 2021

146,538

Amortisation for year

24,767

At 30 June 2022

171,305

NET BOOK VALUE

At 30 June 2022

76,365

At 30 June 2021

101,132

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 July 2021

10,054

15,209

25,263

Additions

-

845

845

At 30 June 2022

10,054

16,054

26,108

DEPRECIATION

At 1 July 2021

4,830

10,278

15,108

Charge for year

-

1,938

1,938

At 30 June 2022

4,830

12,216

17,046

NET BOOK VALUE

At 30 June 2022

5,224

3,838

9,062

At 30 June 2021

5,224

4,931

10,155

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

100,008

89,108

Other debtors

23,346

25,135

123,354

114,243

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

9,768

9,527

Trade creditors

29,087

18,348

Amounts owed to associates

53,509

45,309

Taxation and social security

49,066

79,438

Other creditors

90,026

94,288

231,456

246,910

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

29,923

39,691

Other creditors

79,006

130,859

108,929

170,550

9.	LEASING AGREEMENTS

At 30 June 2022, the company had total commitments under non-cancellable operating leasing over the remaining life of those leases of £13,975 (2021 - £1,075).

10.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

39,691

49,218

Loan

130,859

181,686

170,550

230,904