Renewable Solutions Today Ltd - Period Ending 2017-03-31

Registration number: 06803721

Renewable Solutions Today Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Renewable Solutions Today Ltd

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 4

Renewable Solutions Today Ltd

(Registration number: 06803721)
Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	3	1,186	1,423
Current assets
Debtors	4	1,796	279
Cash at bank and in hand		726	2,124
		2,522	2,403
Creditors: Amounts falling due within one year	5	(716)	(980)
Net current assets		1,806	1,423
Net assets		2,992	2,846
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		1,992	1,846
Total equity		2,992	2,846

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 6 December 2017
 

.........................................

Mr IN Wilson

Director

The notes on pages 2 to 4 form an integral part of these financial statements.

Page 1

Renewable Solutions Today Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 7, Springvale Business Centre,
Millbuck Way,
Sandbach,
Cheshire
CW11 3HY

These financial statements were authorised for issue by the director on 6 December 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention. These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance basis
Office equipment	25% reducing balance basis

Page 2

Renewable Solutions Today Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Page 3

Renewable Solutions Today Ltd

Notes to the Financial Statements for the Year Ended 31 March 2017

3	Tangible assets

	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 April 2016	3,006	2,190	5,196
At 31 March 2017	3,006	2,190	5,196
Depreciation
At 1 April 2016	2,042	1,731	3,773
Charge for the year	145	92	237
At 31 March 2017	2,187	1,823	4,010
Carrying amount
At 31 March 2017	819	367	1,186
At 31 March 2016	964	459	1,423

4

Debtors

	2017 £	2016 £
Other debtors	1,796	279
	1,796	279

5

Creditors

Creditors: amounts falling due within one year

	2017 £	2016 £
Due within one year
Trade creditors	216	480
Accruals and deferred income	500	500
	716	980

6	Transition to FRS 102

The company has adopted FRS102 Section 1a for the first time in the year ended 31 March 2017. The transition date being 1 April 2015.
The effect of the transition from the previous financial framework to FRS102 Section 1a is outlined below:

No transition adjustments have been found necessary.

Page 4