RDC Networks Limited - Accounts to registrar (filleted) - small 23.2.5

RDC Networks Limited - Accounts to registrar (filleted) - small 23.2.5

RDC NETWORKS LIMITED - Company Information

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REGISTERED NUMBER: 06936726 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

RDC NETWORKS LIMITED
RDC NETWORKS LIMITED (REGISTERED NUMBER: 06936726)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 28 February 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


RDC NETWORKS LIMITED

COMPANY INFORMATION
For The Year Ended 28 February 2023







DIRECTORS: Mr R D Collings
Mrs L C Collings





REGISTERED OFFICE: 4 Office Village
Forder Way
Cygnet Park
Hampton
Peterborough
PE7 8GX





REGISTERED NUMBER: 06936726 (England and Wales)





ACCOUNTANTS: TC CH Limited
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX
Page 1
RDC NETWORKS LIMITED (REGISTERED NUMBER: 06936726)

STATEMENT OF FINANCIAL POSITION
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,387 3,184

CURRENT ASSETS
Debtors 5 18,236 15,932
Cash at bank and in hand 96,795 95,678
115,031 111,610
CREDITORS
Amounts falling due within one year 6 21,302 22,801
NET CURRENT ASSETS 93,729 88,809
TOTAL ASSETS LESS CURRENT LIABILITIES 96,116 91,993

CAPITAL AND RESERVES
Called up share capital 90 90
Capital redemption reserve (11,990 ) (11,990 )
Retained earnings 108,016 103,893
SHAREHOLDERS' FUNDS 96,116 91,993

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2023 and were signed on its behalf by:





Mr R D Collings - Director


The notes form part of these financial statements

Page 2
RDC NETWORKS LIMITED (REGISTERED NUMBER: 06936726)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 28 February 2023


1. STATUTORY INFORMATION

RDC Networks 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

Page 3 continued...
RDC NETWORKS LIMITED (REGISTERED NUMBER: 06936726)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 February 2023


2. ACCOUNTING POLICIES - continued

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.

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.

Debtors
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

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RDC NETWORKS LIMITED (REGISTERED NUMBER: 06936726)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 February 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 March 2022
and 28 February 2023 6,152
DEPRECIATION
At 1 March 2022 2,968
Charge for year 797
At 28 February 2023 3,765
NET BOOK VALUE
At 28 February 2023 2,387
At 28 February 2022 3,184

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,215 14,315
Other debtors 6,021 1,617
18,236 15,932

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 283
Taxation and social security 19,913 19,865
Other creditors 1,389 2,653
21,302 22,801

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 3,862 5,150
Between one and five years - 3,862
3,862 9,012

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year there were repayments of £5525 (2022 £3036). As at the year end, the director owed the company £4258 (2022 £1267), which has subsequently been repaid.

Page 5