Response Engineering Solutions Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06452013 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31st December 2016

for

Response Engineering Solutions Ltd

Page

Company Information

1

Report of the Directors

2

Statement of Financial Position

3

Notes to the Financial Statements

5

Chartered Certified Accountants' Report

8

DIRECTORS:

D Jones

P R Evans

N S Bradley

D F E Ward

SECRETARY:

D Jones

REGISTERED OFFICE:

Unit 9

Hirwaun Industrial Estate

Hirwaun

Aberdare

Mid Glamorgan

CF44 9UP

REGISTERED NUMBER:

06452013 (England and Wales)

ACCOUNTANTS:

Curtis Bowden & Thomas Limited

Chartered Certified Accountants

101 Dunraven Street

Tonypandy

CF40 1AR

The directors present their report with the financial statements of the company for the year ended 31st December 2016.

DIRECTORS

D Jones has held office during the whole of the period from 1st January 2016 to the date of this report.

Other changes in directors holding office are as follows:

Mrs M Husband - resigned 10th April 2016

P R Evans - appointed 8th September 2016

N S Bradley - appointed 8th September 2016

D F E Ward - appointed 10th November 2016

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

D Jones - Director

22nd September 2017

FIXED ASSETS

Tangible assets

4

648,297

628,693

CURRENT ASSETS

Stocks

85,298

222,163

Debtors

5

1,457,632

1,626,944

Cash at bank and in hand

430,132

521,182

1,973,062

2,370,289

CREDITORS

Amounts falling due within one year

6

2,014,711

2,032,642

NET CURRENT (LIABILITIES)/ASSETS

(41,649

)

337,647

TOTAL ASSETS LESS CURRENT LIABILITIES

606,648

966,340

CREDITORS

Amounts falling due after more than one year

7

(234,667

)

(250,310

)

PROVISIONS FOR LIABILITIES

(66,839

)

(64,432

)

ACCRUALS AND DEFERRED INCOME

(147,031

)

(261,873

)

NET ASSETS

158,111

389,725

CAPITAL AND RESERVES

Called up share capital

60

80

Share premium

24,970

74,970

Capital redemption reserve

70

50

Retained earnings

133,011

314,625

SHAREHOLDERS' FUNDS

158,111

389,725

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 22nd September 2017 and were signed on its behalf by:

D Jones - Director

1.	STATUTORY INFORMATION

Response Engineering Solutions Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 71 (2015 - 75 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1st January 2016

173,509

65,382

230,436

Additions

-

24,237

23,399

At 31st December 2016

173,509

89,619

253,835

DEPRECIATION

At 1st January 2016

-

42,235

122,763

Charge for year

-

12,144

31,585

Eliminated on disposal

-

-

-

At 31st December 2016

-

54,379

154,348

NET BOOK VALUE

At 31st December 2016

173,509

35,240

99,487

At 31st December 2015

173,509

23,147

107,673

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st January 2016

15,182

598,280

27,269

1,110,058

Additions

2,110

97,703

24,100

171,549

Disposals

-

(26,580

)

-

(26,580

)

At 31st December 2016

17,292

669,403

51,369

1,255,027

DEPRECIATION

At 1st January 2016

7,199

297,606

11,562

481,365

Charge for year

2,441

92,639

9,654

148,463

Eliminated on disposal

-

(23,098

)

-

(23,098

)

At 31st December 2016

9,640

367,147

21,216

606,730

NET BOOK VALUE

At 31st December 2016

7,652

302,256

30,153

648,297

At 31st December 2015

7,983

300,674

15,707

628,693

The total above includes assets at a cost of £395,765 carried at a net book value of £237,205 financed under hire

purchase agreements. The total balance of hire purchase liabilities stands at £172,832.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

1,415,073

1,601,296

Other debtors

42,559

25,648

1,457,632

1,626,944

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Bank loans and overdrafts

68,838

311,324

Hire purchase contracts

98,269

122,561

Trade creditors

208,976

242,704

Taxation and social security

279,760

323,810

Other creditors

1,358,868

1,032,243

2,014,711

2,032,642

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Bank loans

160,105

161,407

Hire purchase contracts

74,562

88,903

234,667

250,310

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.16

31.12.15

£

£

Factored Loan

1,260,408

980,764

Loan for Cheddar Premises

161,184

-

1,421,592

980,764

On the 15 March 2011,the Company entered into a factoring agreement with its bankers. In other creditors is the

sum of £1,260,408 owed to Lloyds TSB.All monies due or to become due from the company to Lloyds TSB

Commercial Finance LTD on any account whatsoever are secured by an all Assets Debenture dated 15 March

2011.

A charge was created on the loan for the Cheddar premises by Lloyds bank on 22nd September 2015. The loan

balance was £161,184.51 at 31st December 2016 (£170,307 at 31st December 2015)

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, by virtue of their 100% shareholding in the company.

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Statement of

Comprehensive Income and certain other primary statements and the Report of the Directors are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Response Engineering Solutions Ltd for the year ended 31st December 2016 which comprise the

Income Statement, Statement of Financial Position and the related notes from the company's accounting records and

from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Response Engineering Solutions Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Response Engineering Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of Response Engineering Solutions Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Response Engineering Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Response Engineering Solutions Ltd. You consider that Response Engineering Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Response Engineering Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Curtis Bowden & Thomas Limited

Chartered Certified Accountants

101 Dunraven Street

Tonypandy

CF40 1AR

Date: .............................................