R. & M. DISTRIBUTION LIMITED

R. & M. DISTRIBUTION LIMITED - Company Information

2023-03-012024-02-292024-02-29falseSC099757R. & M. DISTRIBUTION LIMITED2024-06-2146439iso4217:GBPxbrli:pureSC0997572023-03-01SC0997572024-02-29SC0997572023-03-012024-02-29SC0997572022-03-01SC0997572023-02-28SC0997572022-03-012023-02-28SC099757bus:SmallEntities2023-03-012024-02-29SC099757bus:AuditExempt-NoAccountantsReport2023-03-012024-02-29SC099757bus:AbridgedAccounts2023-03-012024-02-29SC099757bus:PrivateLimitedCompanyLtd2023-03-012024-02-29SC099757core:WithinOneYear2024-02-29SC099757core:AfterOneYear2024-02-29SC099757core:WithinOneYear2023-02-28SC099757core:AfterOneYear2023-02-28SC099757core:ShareCapital2024-02-29SC099757core:SharePremium2024-02-29SC099757core:RevaluationReserve2024-02-29SC099757core:OtherReservesSubtotal2024-02-29SC099757core:RetainedEarningsAccumulatedLosses2024-02-29SC099757core:ShareCapital2023-02-28SC099757core:SharePremium2023-02-28SC099757core:RevaluationReserve2023-02-28SC099757core:OtherReservesSubtotal2023-02-28SC099757core:RetainedEarningsAccumulatedLosses2023-02-28SC099757core:LandBuildings2024-02-29SC099757core:PlantMachinery2024-02-29SC099757core:Vehicles2024-02-29SC099757core:FurnitureFittings2024-02-29SC099757core:OfficeEquipment2024-02-29SC099757core:NetGoodwill2024-02-29SC099757core:IntangibleAssetsOtherThanGoodwill2024-02-29SC099757core:ListedExchangeTraded2024-02-29SC099757core:UnlistedNon-exchangeTraded2024-02-29SC099757core: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:LandBuildings2023-03-012024-02-29SC099757core:PlantMachinery2023-03-012024-02-29SC099757core:Vehicles2023-03-012024-02-29SC099757core:FurnitureFittings2023-03-012024-02-29SC099757core:OfficeEquipment2023-03-012024-02-29SC099757core:NetGoodwill2023-03-012024-02-29SC099757core:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-29SC099757core:ListedExchangeTraded2023-03-012024-02-29SC099757core:UnlistedNon-exchangeTraded2023-03-012024-02-29SC099757core:MoreThanFiveYears2023-03-012024-02-29SC099757core:Non-currentFinancialInstruments2024-02-29SC099757core:Non-currentFinancialInstruments2023-02-28SC099757dpl:CostSales2023-03-012024-02-29SC099757dpl:DistributionCosts2023-03-012024-02-29SC099757core:LandBuildings2023-03-012024-02-29SC099757core:PlantMachinery2023-03-012024-02-29SC099757core:Vehicles2023-03-012024-02-29SC099757core:FurnitureFittings2023-03-012024-02-29SC099757core:OfficeEquipment2023-03-012024-02-29SC099757dpl:AdministrativeExpenses2023-03-012024-02-29SC099757core:NetGoodwill2023-03-012024-02-29SC099757core:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-29SC099757dpl:GroupUndertakings2023-03-012024-02-29SC099757dpl:ParticipatingInterests2023-03-012024-02-29SC099757dpl:GroupUndertakingscore:ListedExchangeTraded2023-03-012024-02-29SC099757core:ListedExchangeTraded2023-03-012024-02-29SC099757dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-03-012024-02-29SC099757core:UnlistedNon-exchangeTraded2023-03-012024-02-29SC099757dpl:CostSales2022-03-012023-02-28SC099757dpl:DistributionCosts2022-03-012023-02-28SC099757core:LandBuildings2022-03-012023-02-28SC099757core:PlantMachinery2022-03-012023-02-28SC099757core:Vehicles2022-03-012023-02-28SC099757core:FurnitureFittings2022-03-012023-02-28SC099757core:OfficeEquipment2022-03-012023-02-28SC099757dpl:AdministrativeExpenses2022-03-012023-02-28SC099757core: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-exchangeTraded2022-03-012023-02-28SC099757core:NetGoodwill2024-02-29SC099757core:IntangibleAssetsOtherThanGoodwill2024-02-29SC099757core:LandBuildings2024-02-29SC099757core:PlantMachinery2024-02-29SC099757core:Vehicles2024-02-29SC099757core:FurnitureFittings2024-02-29SC099757core:OfficeEquipment2024-02-29SC099757core:AfterOneYear2024-02-29SC099757core:WithinOneYear2024-02-29SC099757core:ListedExchangeTraded2024-02-29SC099757core:UnlistedNon-exchangeTraded2024-02-29SC099757core:ShareCapital2024-02-29SC099757core:SharePremium2024-02-29SC099757core:RevaluationReserve2024-02-29SC099757core:OtherReservesSubtotal2024-02-29SC099757core:RetainedEarningsAccumulatedLosses2024-02-29SC099757core: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:L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Registered Number
SC099757
(Scotland)

Unaudited Financial Statements for the Year ended
29 February 2024

R. & M. DISTRIBUTION LIMITED

Company Information
for the year from 1 March 2023 to 29 February 2024


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
29 February 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		32,447		38,251
			32,447		38,251
Current assets
Stocks		290,816		303,937
Debtors		446,419		466,261
Cash at bank and on hand		527,833		252,796
		1,265,068		1,022,994
Creditors amounts falling due within one year		(413,839)		(429,667)
Net current assets (liabilities)			851,229		593,327
Total assets less current liabilities			883,676		631,578
Creditors amounts falling due after one year			(104,567)		(101,509)
Net assets			779,109		530,069
Capital and reserves
Called up share capital			10,000		10,000
Profit and loss account			769,109		520,069
Shareholders' funds			779,109		530,069

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 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 21 June 2024, and are signed on its behalf by:

Mandy Brown
Director
Registered Company No. SC099757

R. & M. DISTRIBUTION LIMITED

Notes to the Financial Statements
for the year ended 29 February 2024

1.	Accounting policies

	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.

	Statement of compliance
	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.

	Basis of preparation
	The accounts have been prepared under the historical cost convention.

	Functional and presentation currency
	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.

	Going concern
	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

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.

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

	Revenue from sale of goods
	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 from sale of goods

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.

	Employee benefits
	The company operates a defined contribution pension scheme. 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
	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

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.

	Tangible fixed assets and depreciation
	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:

	Finance leases and hire purchase contracts
	Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

	Stocks and work in progress
	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 and work in progress

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.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	9		13

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 March 23	286,855
	Additions	(17,646)
	At 29 February 24	269,209
	Depreciation and impairment
	At 01 March 23	248,604
	Charge for year	5,167
	On disposals	(17,009)
	At 29 February 24	236,762
	Net book value
	At 29 February 24	32,447
	At 28 February 23	38,251

4.	Other commitments
	The total amount of financial commitments, under non-cancellable leases, that are not included in the balance sheet is £88,234 (2023: £110,860).