RFM FACILITIES MANAGEMENT LTD

RFM FACILITIES MANAGEMENT LTD - Company Information

2022-04-012023-03-312023-03-31false06765527RFM FACILITIES MANAGEMENT LTD2023-12-2041100iso4217:GBPxbrli:pure067655272022-04-01067655272023-03-31067655272022-04-012023-03-31067655272021-04-01067655272022-03-31067655272021-04-012022-03-3106765527bus:SmallEntities2022-04-012023-03-3106765527bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3106765527bus:FullAccounts2022-04-012023-03-3106765527bus:PrivateLimitedCompanyLtd2022-04-012023-03-3106765527core:WithinOneYear2023-03-3106765527core:AfterOneYear2023-03-3106765527core:WithinOneYear2022-03-3106765527core:AfterOneYear2022-03-3106765527core:ShareCapital2023-03-3106765527core:SharePremium2023-03-3106765527core:RevaluationReserve2023-03-3106765527core:OtherReservesSubtotal2023-03-3106765527core:RetainedEarningsAccumulatedLosses2023-03-3106765527core:ShareCapital2022-03-3106765527core:SharePremium2022-03-3106765527core:RevaluationReserve2022-03-3106765527core:OtherReservesSubtotal2022-03-3106765527core:RetainedEarningsAccumulatedLosses2022-03-3106765527core:LandBuildings2023-03-3106765527core:PlantMachinery2023-03-3106765527core:Vehicles2023-03-3106765527core:FurnitureFittings2023-03-3106765527core:OfficeEquipment2023-03-3106765527core:NetGoodwill2023-03-3106765527core:IntangibleAssetsOtherThanGoodwill2023-03-3106765527core:ListedExchangeTraded2023-03-3106765527core:UnlistedNon-exchangeTraded2023-03-3106765527core:LandBuildings2022-03-3106765527core:PlantMachinery2022-03-3106765527core:Vehicles2022-03-3106765527core:FurnitureFittings2022-03-3106765527core:OfficeEquipment2022-03-3106765527core:NetGoodwill2022-03-3106765527core:IntangibleAssetsOtherThanGoodwill2022-03-3106765527core:ListedExchangeTraded2022-03-3106765527core:UnlistedNon-exchangeTraded2022-03-3106765527core:LandBuildings2022-04-012023-03-3106765527core:PlantMachinery2022-04-012023-03-3106765527core:Vehicles2022-04-012023-03-3106765527core:FurnitureFittings2022-04-012023-03-3106765527core:OfficeEquipment2022-04-012023-03-3106765527core:NetGoodwill2022-04-012023-03-3106765527core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3106765527core:ListedExchangeTraded2022-04-012023-03-3106765527core:UnlistedNon-exchangeTraded2022-04-012023-03-3106765527core:MoreThanFiveYears2022-04-012023-03-3106765527core:Non-currentFinancialInstruments2023-03-3106765527core:Non-currentFinancialInstruments2022-03-3106765527dpl:CostSales2022-04-012023-03-3106765527dpl:DistributionCosts2022-04-012023-03-3106765527core:LandBuildings2022-04-012023-03-3106765527core:PlantMachinery2022-04-012023-03-3106765527core:Vehicles2022-04-012023-03-3106765527core:FurnitureFittings2022-04-012023-03-3106765527core:OfficeEquipment2022-04-012023-03-3106765527dpl:AdministrativeExpenses2022-04-012023-03-3106765527core:NetGoodwill2022-04-012023-03-3106765527core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3106765527dpl:GroupUndertakings2022-04-012023-03-3106765527dpl:ParticipatingInterests2022-04-012023-03-3106765527dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3106765527core:ListedExchangeTraded2022-04-012023-03-3106765527dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3106765527core:UnlistedNon-exchangeTraded2022-04-012023-03-3106765527dpl:CostSales2021-04-012022-03-3106765527dpl:DistributionCosts2021-04-012022-03-3106765527core:LandBuildings2021-04-012022-03-3106765527core:PlantMachinery2021-04-012022-03-3106765527core:Vehicles2021-04-012022-03-3106765527core:FurnitureFittings2021-04-012022-03-3106765527core:OfficeEquipment2021-04-012022-03-3106765527dpl:AdministrativeExpenses2021-04-012022-03-3106765527core:NetGoodwill2021-04-012022-03-3106765527core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3106765527dpl:GroupUndertakings2021-04-012022-03-3106765527dpl:ParticipatingInterests2021-04-012022-03-3106765527dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3106765527core:ListedExchangeTraded2021-04-012022-03-3106765527dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3106765527core:UnlistedNon-exchangeTraded2021-04-012022-03-3106765527core:NetGoodwill2023-03-3106765527core:IntangibleAssetsOtherThanGoodwill2023-03-3106765527core:LandBuildings2023-03-3106765527core:PlantMachinery2023-03-3106765527core:Vehicles2023-03-3106765527core:FurnitureFittings2023-03-3106765527core:OfficeEquipment2023-03-3106765527core:AfterOneYear2023-03-3106765527core:WithinOneYear2023-03-3106765527core:ListedExchangeTraded2023-03-3106765527core:UnlistedNon-exchangeTraded2023-03-3106765527core:ShareCapital2023-03-3106765527core:SharePremium2023-03-3106765527core:RevaluationReserve2023-03-3106765527core:OtherReservesSubtotal2023-03-3106765527core:RetainedEarningsAccumulatedLosses2023-03-3106765527core:NetGoodwill2022-03-3106765527core:IntangibleAssetsOtherThanGoodwill2022-03-3106765527core:LandBuildings2022-03-3106765527core:PlantMachinery2022-03-3106765527core:Vehicles2022-03-3106765527core:FurnitureFittings2022-03-3106765527core:OfficeEquipment2022-03-3106765527core:AfterOneYear2022-03-3106765527core:WithinOneYear2022-03-3106765527core:ListedExchangeTraded2022-03-3106765527core:UnlistedNon-exchangeTraded2022-03-3106765527core:ShareCapital2022-03-3106765527core:SharePremium2022-03-3106765527core:RevaluationReserve2022-03-3106765527core:OtherReservesSubtotal2022-03-3106765527core:RetainedEarningsAccumulatedLosses2022-03-3106765527core:NetGoodwill2021-04-0106765527core:IntangibleAssetsOtherThanGoodwill2021-04-0106765527core:LandBuildings2021-04-0106765527core:PlantMachinery2021-04-0106765527core:Vehicles2021-04-0106765527core:FurnitureFittings2021-04-0106765527core:OfficeEquipment2021-04-0106765527core:AfterOneYear2021-04-0106765527core:WithinOneYear2021-04-0106765527core:ListedExchangeTraded2021-04-0106765527core:UnlistedNon-exchangeTraded2021-04-0106765527core:ShareCapital2021-04-0106765527core:SharePremium2021-04-0106765527core:RevaluationReserve2021-04-0106765527core:OtherReservesSubtotal2021-04-0106765527core:RetainedEarningsAccumulatedLosses2021-04-0106765527core:AfterOneYear2022-04-012023-03-3106765527core:WithinOneYear2022-04-012023-03-3106765527core:Non-currentFinancialInstrumentscore:CostValuation2022-04-012023-03-3106765527core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-04-012023-03-3106765527core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-04-012023-03-3106765527core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-04-012023-03-3106765527core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-04-012023-03-3106765527core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-04-012023-03-3106765527core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-04-012023-03-3106765527core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-04-012023-03-3106765527core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-04-012023-03-3106765527core:Non-currentFinancialInstrumentscore:CostValuation2023-03-3106765527core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-03-3106765527core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-03-3106765527core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-03-3106765527core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-03-3106765527core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-03-3106765527core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-03-3106765527core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-03-3106765527core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-03-3106765527core:Non-currentFinancialInstrumentscore:CostValuation2022-03-3106765527core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-03-3106765527core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-03-3106765527core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-03-3106765527core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-03-3106765527core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-03-3106765527core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-03-3106765527core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-03-3106765527core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-03-3106765527bus:Director12022-04-012023-03-3106765527bus:Director22022-04-012023-03-3106765527bus:Director32022-04-012023-03-3106765527core:FurnitureFittingsToolsEquipment2022-03-3106765527core:FurnitureFittingsToolsEquipment2023-03-3106765527core:FurnitureFittingsToolsEquipment2022-04-012023-03-31

Registered Number
06765527
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

RFM FACILITIES MANAGEMENT LTD

Company Information
for the year from 1 April 2022 to 31 March 2023


Directors	FLANAGAN, Fiona Gordon
	FLANAGAN, Ian
	FLANAGAN, Mark Anthony


Company Secretary	FLANAGAN, Ian


Registered Address	Unit 15 Kirkfields Business Centre
	Yeadon
	Leeds
	LS19 7LX


Registered Number	06765527 (England and Wales)

RFM FACILITIES MANAGEMENT LTD

Statement of Financial Position
31 March 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Intangible assets	5		2,528		3,058
Tangible assets	6		27,648		39,455
			30,176		42,513
Current assets
Debtors	8	1,754,158		906,670
Cash at bank and on hand		862,660		1,847,293
		2,616,818		2,753,963
Creditors amounts falling due within one year	9	(1,831,150)		(2,000,057)
Net current assets (liabilities)			785,668		753,906
Total assets less current liabilities			815,844		796,419
Creditors amounts falling due after one year	10		(112,861)		(167,395)
Provisions for liabilities	12		(79,203)		(65,697)
Net assets			623,780		563,327
Capital and reserves
Called up share capital			100		100
Profit and loss account			623,680		563,227
Shareholders' funds			623,780		563,327

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 financial statements were approved and authorised for issue by the Board of Directors on 20 December 2023, and are signed on its behalf by:

FLANAGAN, Ian
Director
Registered Company No. 06765527

RFM FACILITIES MANAGEMENT LTD

Notes to the Financial Statements
for the year ended 31 March 2023

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Basis of measurement used in financial statements
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

3.	Accounting policies

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

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.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Property, plant and equipment policy

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	15	-
Fixtures and fittings	15
Vehicles	25	-
Office Equipment	-	3

	Intangible assets policy
	Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

	Taxation policy
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax policy
	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

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.

	Government grants and other government assistance policy
	Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Government grants and other government assistance policy

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

	Leases policy
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Leases policy

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Employee benefits policy
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits policy

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Valuation of financial instruments policy
	The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Valuation of financial instruments policy

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

4.	Employee information


		2023		2022
	Average number of employees during the year	112		120

5.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 April 22	5,301	5,301
At 31 March 23	5,301	5,301
Amortisation and impairment
At 01 April 22	2,243	2,243
Charge for year	530	530
At 31 March 23	2,773	2,773
Net book value
At 31 March 23	2,528	2,528
At 31 March 22	3,058	3,058

6.	Property, plant and equipment

	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 April 22	22,413	77,090	11,241	71,569	182,313
At 31 March 23	22,413	77,090	11,241	71,569	182,313
Depreciation and impairment
At 01 April 22	19,369	69,804	8,289	45,396	142,858
Charge for year	457	1,093	442	9,815	11,807
At 31 March 23	19,826	70,897	8,731	55,211	154,665
Net book value
At 31 March 23	2,587	6,193	2,510	16,358	27,648
At 31 March 22	3,044	7,286	2,952	26,173	39,455

7.	Description of nature of transactions and balances with related parties
	At 31 March 2023 the directors of the company owed the company £590,304 (2022: £331,471). The loans are unsecured and repayable on demand. Interest is charged on the loans at the official rate.

8.	Debtors

	2023	2022
	£	£
Trade debtors / trade receivables	451,076	298,311
Amounts owed by group undertakings	365,887	213,810
Other debtors	919,133	353,676
Prepayments and accrued income	18,062	40,873
Total	1,754,158	906,670

9.	Creditors within one year

	2023	2022
	£	£
Trade creditors / trade payables	156,166	113,963
Bank borrowings and overdrafts	71,250	135,359
Amounts owed to related parties	723,020	940,660
Taxation and social security	668,058	562,112
Finance lease and HP contracts	5,889	8,138
Other creditors	201,567	234,944
Accrued liabilities and deferred income	5,200	4,881
Total	1,831,150	2,000,057

10.	Creditors after one year

	2023	2022
	£	£
Bank borrowings and overdrafts	96,667	147,560
Other creditors	16,194	19,835
Total	112,861	167,395

11.	Finance lease and HP contracts after one year

		2023		2022
		£		£
	Finance lease and HP contracts	16,194		19,835

12.	Provisions for liabilities
	Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

12.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

	2023	2022
	£	£
Net deferred tax liability (asset)	5,200	7,000
Other provisions	74,003	58,697
Total	79,203	65,697