R. & M. DISTRIBUTION LIMITED

R. & M. DISTRIBUTION LIMITED - Company Information

2022-03-012023-02-282023-02-28falseSC099757R. & M. DISTRIBUTION LIMITED2023-06-2246439iso4217:GBPxbrli:pureSC0997572022-03-01SC0997572023-02-28SC0997572022-03-012023-02-28SC0997572021-03-01SC0997572022-02-28SC0997572021-03-012022-02-28SC099757bus:SmallEntities2022-03-012023-02-28SC099757bus:AuditExempt-NoAccountantsReport2022-03-012023-02-28SC099757bus:AbridgedAccounts2022-03-012023-02-28SC099757bus:PrivateLimitedCompanyLtd2022-03-012023-02-28SC099757core:WithinOneYear2023-02-28SC099757core:AfterOneYear2023-02-28SC099757core:WithinOneYear2022-02-28SC099757core:AfterOneYear2022-02-28SC099757core:ShareCapital2023-02-28SC099757core:SharePremium2023-02-28SC099757core:RevaluationReserve2023-02-28SC099757core:OtherReservesSubtotal2023-02-28SC099757core:RetainedEarningsAccumulatedLosses2023-02-28SC099757core:ShareCapital2022-02-28SC099757core:SharePremium2022-02-28SC099757core:RevaluationReserve2022-02-28SC099757core:OtherReservesSubtotal2022-02-28SC099757core:RetainedEarningsAccumulatedLosses2022-02-28SC099757core:LandBuildings2023-02-28SC099757core:PlantMachinery2023-02-28SC099757core:Vehicles2023-02-28SC099757core:FurnitureFittings2023-02-28SC099757core:OfficeEquipment2023-02-28SC099757core:NetGoodwill2023-02-28SC099757core:IntangibleAssetsOtherThanGoodwill2023-02-28SC099757core:ListedExchangeTraded2023-02-28SC099757core:UnlistedNon-exchangeTraded2023-02-28SC099757core:LandBuildings2022-02-28SC099757core:PlantMachinery2022-02-28SC099757core:Vehicles2022-02-28SC099757core:FurnitureFittings2022-02-28SC099757core:OfficeEquipment2022-02-28SC099757core:NetGoodwill2022-02-28SC099757core:IntangibleAssetsOtherThanGoodwill2022-02-28SC099757core:ListedExchangeTraded2022-02-28SC099757core:UnlistedNon-exchangeTraded2022-02-28SC099757core:LandBuildings2022-03-012023-02-28SC099757core:PlantMachinery2022-03-012023-02-28SC099757core:Vehicles2022-03-012023-02-28SC099757core:FurnitureFittings2022-03-012023-02-28SC099757core:OfficeEquipment2022-03-012023-02-28SC099757core:NetGoodwill2022-03-012023-02-28SC099757core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-28SC099757core:ListedExchangeTraded2022-03-012023-02-28SC099757core:UnlistedNon-exchangeTraded2022-03-012023-02-28SC099757core:MoreThanFiveYears2022-03-012023-02-28SC099757core:Non-currentFinancialInstruments2023-02-28SC099757core:Non-currentFinancialInstruments2022-02-28SC099757dpl:CostSales2022-03-012023-02-28SC099757dpl:DistributionCosts2022-03-012023-02-28SC099757dpl:AdministrativeExpenses2022-03-012023-02-28SC099757core:LandBuildings2022-03-012023-02-28SC099757core:PlantMachinery2022-03-012023-02-28SC099757core:Vehicles2022-03-012023-02-28SC099757core:FurnitureFittings2022-03-012023-02-28SC099757core:OfficeEquipment2022-03-012023-02-28SC099757core:NetGoodwill2022-03-012023-02-28SC099757core:IntangibleAssetsOtherThanGoodwill2022-03-012023-02-28SC099757dpl:GroupUndertakings2022-03-012023-02-28SC099757dpl:ParticipatingInterests2022-03-012023-02-28SC099757dpl:GroupUndertakingscore:ListedExchangeTraded2022-03-012023-02-28SC099757core:ListedExchangeTraded2022-03-012023-02-28SC099757dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-03-012023-02-28SC099757core:UnlistedNon-exchangeTraded2022-03-012023-02-28SC099757dpl:CostSales2021-03-012022-02-28SC099757dpl:DistributionCosts2021-03-012022-02-28SC099757dpl:AdministrativeExpenses2021-03-012022-02-28SC099757core:LandBuildings2021-03-012022-02-28SC099757core:PlantMachinery2021-03-012022-02-28SC099757core:Vehicles2021-03-012022-02-28SC099757core:FurnitureFittings2021-03-012022-02-28SC099757core:OfficeEquipment2021-03-012022-02-28SC099757core:NetGoodwill2021-03-012022-02-28SC099757core:IntangibleAssetsOtherThanGoodwill2021-03-012022-02-28SC099757dpl:GroupUndertakings2021-03-012022-02-28SC099757dpl:ParticipatingInterests2021-03-012022-02-28SC099757dpl:GroupUndertakingscore:ListedExchangeTraded2021-03-012022-02-28SC099757core:ListedExchangeTraded2021-03-012022-02-28SC099757dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-03-012022-02-28SC099757core:UnlistedNon-exchangeTraded2021-03-012022-02-28SC099757core:NetGoodwill2023-02-28SC099757core:IntangibleAssetsOtherThanGoodwill2023-02-28SC099757core:LandBuildings2023-02-28SC099757core:PlantMachinery2023-02-28SC099757core:Vehicles2023-02-28SC099757core:FurnitureFittings2023-02-28SC099757core:OfficeEquipment2023-02-28SC099757core:AfterOneYear2023-02-28SC099757core:WithinOneYear2023-02-28SC099757core:ListedExchangeTraded2023-02-28SC099757core:UnlistedNon-exchangeTraded2023-02-28SC099757core:ShareCapital2023-02-28SC099757core:SharePremium2023-02-28SC099757core:RevaluationReserve2023-02-28SC099757core:OtherReservesSubtotal2023-02-28SC099757core:RetainedEarningsAccumulatedLosses2023-02-28SC099757core:NetGoodwill2022-02-28SC099757core:IntangibleAssetsOtherThanGoodwill2022-02-28SC099757core:LandBuildings2022-02-28SC099757core:PlantMachinery2022-02-28SC099757core:Vehicles2022-02-28SC099757core:FurnitureFittings2022-02-28SC099757core:OfficeEquipment2022-02-28SC099757core:AfterOneYear2022-02-28SC099757core:WithinOneYear2022-02-28SC099757core:L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Registered Number
SC099757
(Scotland)

Unaudited Financial Statements for the Year ended
28 February 2023

R. & M. DISTRIBUTION LIMITED

Company Information
for the year from 1 March 2022 to 28 February 2023


Directors	Mandy Brown
	Brian James Hunter


Registered Address	Unit 1, Carwhinny
	Mitchelston Industrial Estate
	Kirkcaldy
	KY1 3LS


Registered Number	SC099757 (Scotland)

R. & M. DISTRIBUTION LIMITED

Balance Sheet as at
28 February 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	6		38,251		47,257
			38,251		47,257
Current assets
Stocks		303,937		269,399
Debtors		466,261		463,845
Cash at bank and on hand		252,796		803,870
		1,022,994		1,537,114
Creditors amounts falling due within one year		(429,667)		(342,597)
Net current assets (liabilities)			593,327		1,194,517
Total assets less current liabilities			631,578		1,241,774
Creditors amounts falling due after one year			(101,509)		-
Net assets			530,069		1,241,774
Capital and reserves
Called up share capital			10,000		10,000
Profit and loss account			520,069		1,231,774
Shareholders' funds			530,069		1,241,774

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 22 June 2023, and are signed on its behalf by:

Brian James Hunter
Director
Registered Company No. SC099757

R. & M. DISTRIBUTION LIMITED

Notes to the Financial Statements
for the year ended 28 February 2023

1.	Statutory information
	R. & M. Distribution Limited is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in accordance with FRS 102, including the provisions of Section 1A. There were no material departures from the reporting standard.

3.	Basis of measurement used in financial statements
	The accounts have been prepared under the historical cost convention.

4.	Accounting policies

	Functional and presentation currency policy
	The financial statements are presented in sterling and this is the functional currency of the company. All sums are rounded to the nearest whole pound.

	Turnover policy
	Turnover represents net invoiced sales of electrical supplies after any discounts, excluding value added tax.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Cost includes any expenses directly attributable to making the asset capable of operating for its intended use. Depreciation is provided on all tangible fixed assets as follows:

	Stocks policy
	Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all amounts related to the purchase, conversion and other processes in bringing stock to its present location and condition ready for sale. Cost is calculated using the "first-in, first-out" basis. Provision is made for damaged, obsolete and slow moving items of stock where appropriate.

Stocks policy

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all amounts related to the purchase, conversion and other processes in bringing stock to its present location and condition ready for sale. 

Cost is calculated using the "first-in, first-out" basis. 

Provision is made for damaged, obsolete and slow moving items of stock where appropriate.

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Deferred tax policy
	Where material in value, deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Where material in value, deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 

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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. 

Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leases policy
	Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

	Employee benefits policy
	The company operates a defined contribution pension scheme. Contributions to defined contribution plans are expensed in the period to which they relate.

	Going concern
	The COVID-19 global pandemic had some impact on the financial performance of the company at certain points of the year, as the country navigated various social distancing and lock-down measures introduced by the government. However, on the whole, the financial performance improved on the previous year with profitability exceeding pre COVID-19 levels. At the time of signing these financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In reaching this conclusion, management have assessed the ongoing cashflow requirements of the company, also setting realistic targets on both sales and cost control. Therefore the directors have concluded that they can continue to adopt the going concern basis in preparing these financial statements.

Going concern

The COVID-19 global pandemic had some impact on the financial performance of the company at certain points of the year, as the country navigated various social distancing and lock-down measures introduced by the government.

However, on the whole, the financial performance improved on the previous year with profitability exceeding pre COVID-19 levels.

At the time of signing these financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. 

In reaching this conclusion, management have assessed the ongoing cashflow requirements of the company, also setting realistic targets on both sales and cost control.

Therefore the directors have concluded that they can continue to adopt the going concern basis in preparing these financial statements.

5.	Employee information


		2023		2022
	Average number of employees during the year	13		10

6.	Property, plant and equipment

		Total
		£
	Cost or valuation
	At 01 March 22	285,446
	Additions	1,409
	At 28 February 23	286,855
	Depreciation and impairment
	At 01 March 22	238,189
	Charge for year	10,415
	At 28 February 23	248,604
	Net book value
	At 28 February 23	38,251
	At 28 February 22	47,257

7.	Description of financial commitments other than capital commitments
	The total amount of financial commitments, under non-cancellable leases, that are not included in the balance sheet is £160,692 (2021: £2,950).