RPS DRAINAGE SERVICES LIMITED

RPS DRAINAGE SERVICES LIMITED - Company Information

2022-10-012023-09-302023-09-30false04485248RPS DRAINAGE SERVICES 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Registered Number
04485248
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

RPS DRAINAGE SERVICES LIMITED

Company Information
for the year from 1 October 2022 to 30 September 2023


Directors	CHANDLER, Mark
	TURNER, Philip James


Company Secretary	CHANDLER, Mark


Registered Address	The Old Ticket Office Station Approach
	Wanborough
	Guildford
	GU3 2EX


Registered Number	04485248 (England and Wales)

RPS DRAINAGE SERVICES LIMITED

Balance Sheet as at
30 September 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	4		173,855		136,675
			173,855		136,675
Current assets
Debtors	5,6	706,519		717,838
Cash at bank and on hand		1		168
		706,520		718,006
Creditors amounts falling due within one year	7	(773,232)		(761,085)
Net current assets (liabilities)			(66,712)		(43,079)
Total assets less current liabilities			107,143		93,596
Creditors amounts falling due after one year	8		(74,049)		(67,531)
Provisions for liabilities	10		(33,032)		(25,968)
Net assets			62		97
Capital and reserves
Called up share capital			20		20
Profit and loss account			42		77
Shareholders' funds			62		97

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 under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 4 June 2024, and are signed on its behalf by:

CHANDLER, Mark
Director
Registered Company No. 04485248

RPS DRAINAGE SERVICES LIMITED

Notes to the Financial Statements
for the year ended 30 September 2023

1.	Accounting policies

	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.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover represents amounts receivable for services net of VAT and trade discounts. Revenue from contracts is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. 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 from sale of goods

Turnover represents amounts receivable for services net of VAT and trade discounts.

Revenue from contracts is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. 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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	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

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.

	Deferred tax
	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. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

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. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are amortised over the expected life of the asset

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Fixtures and Fittings : 10% Motor Vehicles : 25% Plant and Machinery : 10%

	Finance leases and hire purchase contracts
	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 balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

2.	Average number of employees


		2023		2022
	Average number of employees during the year	24		26

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 October 22	50,000	50,000
At 30 September 23	50,000	50,000
Amortisation and impairment
At 01 October 22	50,000	50,000
At 30 September 23	50,000	50,000
Net book value
At 30 September 23	-	-
At 30 September 22	-	-

4.	Tangible fixed assets

	Plant & machinery	Vehicles	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 October 22	68,281	118,010	23,922	210,213
Additions	5,671	73,750	3,490	82,911
Disposals	-	(25,700)	(424)	(26,124)
At 30 September 23	73,952	166,060	26,988	267,000
Depreciation and impairment
At 01 October 22	26,462	38,822	8,254	73,538
Charge for year	7,241	22,178	2,180	31,599
On disposals	-	(11,567)	(425)	(11,992)
At 30 September 23	33,703	49,433	10,009	93,145
Net book value
At 30 September 23	40,249	116,627	16,979	173,855
At 30 September 22	41,819	79,188	15,668	136,675

5.	Debtors: amounts due within one year

	2023	2022
	£	£
Trade debtors / trade receivables	534,924	498,897
Other debtors	105,758	164,041
Prepayments and accrued income	36,009	25,072
Total	676,691	688,010


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

6.	Debtors: amounts due after one year

	2023	2022
	£	£
Other debtors	29,827	29,827
Total	29,827	29,827

7.	Creditors: amounts due within one year

	2023	2022
	£	£
Trade creditors / trade payables	164,869	215,143
Bank borrowings and overdrafts	418,998	358,045
Taxation and social security	154,865	159,172
Finance lease and HP contracts	22,272	14,525
Other creditors	4,439	8,149
Accrued liabilities and deferred income	7,789	6,051
Total	773,232	761,085


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8.	Creditors: amounts due after one year

	2023	2022
	£	£
Bank borrowings and overdrafts	17,396	27,467
Other creditors	56,653	40,064
Total	74,049	67,531


	Long Term Creditors comprise the long-term portion of a Coronavirus Bounce Back Loan and the long-term portion of a Hire Purchase Loan.

9.	Obligations under finance leases

		2023		2022
		£		£
	Finance lease and HP contracts	56,653		40,065

10.	Provisions for liabilities

	2023	2022
	£	£
Net deferred tax liability (asset)	33,032	25,968
Total	33,032	25,968

11.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
CHANDLER, Mark	61,291	100,484	112,278	49,497
TURNER, Philip James	28,626	81,293	87,959	21,960
	89,917	181,777	200,237	71,457