Company Registration No. 04684250 (England and Wales)
RealTime DC Ltd
Unaudited accounts
for the year ended 31 October 2017
RealTime DC Ltd
Unaudited accounts
Contents
RealTime DC Ltd
Company Information
for the year ended 31 October 2017
Directors
B R Pellett
D R Pellett
L E Lester
Company Number
04684250 (England and Wales)
Registered Office
Suite 6, Knighton Chambers
39 Aldwick Road
Bognor Regis
West Sussex
PO21 2LN
Accountants
Bowden Smith
6 Roedeer Copse
Haslemere
GU27 1RF
RealTime DC Ltd
Statement of financial position
as at
31 October 2017
Tangible assets
2,449
1,383
Inventories
71,852
86,640
Cash at bank and in hand
65,463
25,640
Creditors: amounts falling due within one year
(270,653)
(178,743)
Net current assets
59,414
70,132
Total assets less current liabilities
61,863
71,515
Creditors: amounts falling due after more than one year
(6,841)
(15,051)
Provisions for liabilities
Called up share capital
150
150
Profit and loss account
54,785
56,314
Shareholders' funds
54,935
56,464
For the year ending 31 October 2017 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 14 November 2017.
B R Pellett
Director
Company Registration No. 04684250
RealTime DC Ltd
Notes to the Accounts
for the year ended 31 October 2017
RealTime DC Ltd is a private company, limited by shares, registered in England and Wales, registration number 04684250. The registered office and principal place of business is Suite 6, Knighton Chambers, 39 Aldwick Road, Bognor Regis, West Sussex, PO21 2LN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention in accordance with FRS 102 Section 1A small entities - the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006. There were no material departures from that standard.
The accounts are presented sterling which is the functional currency of the company.
Tangible assets held for the company's own use are stated at cost less accumulated depreciation and impairment losses.
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following annual rates
Motor vehicles
25% per annum on reducing balance
Fixtures & fittings
33% per annum on cost
Computer equipment
33% per annum on cost
Leasing and hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risk ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risk of ownership remain with the lessor are charged to profit and loss account on a straight line basis.
RealTime DC Ltd
Notes to the Accounts
for the year ended 31 October 2017
Inventories are stated at the lower of cost and estimated selling price to complete and sell (net realisable value). Costs which comprise direct production costs are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit and loss as incurred. Net realisable value is based on the estimated selling price less estimated completion or selling costs.
When inventories are sold, the carrying amount of those inventories is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of inventories to net realisable value and all losses of inventories are recognised as an expense in the period in which the write-down or loss occurs.
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Taxation represents the sum of tax currently payable and deferred tax. The company?s liability for current tax is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees and the pension charge represents the amount s payable by the company to the fund in respect of the year.
RealTime DC Ltd
Notes to the Accounts
for the year ended 31 October 2017
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2016
8,438
5,400
35,158
48,996
Additions
-
-
2,109
2,109
At 31 October 2017
8,438
5,400
37,267
51,105
At 1 November 2016
8,017
5,400
34,196
47,613
Charge for the year
6
-
1,037
1,043
At 31 October 2017
8,023
5,400
35,233
48,656
At 31 October 2017
415
-
2,034
2,449
At 31 October 2016
421
-
962
1,383
Finished goods
71,852
86,640
Trade debtors
179,176
113,487
Accrued income and prepayments
5,189
3,547
Other debtors
8,387
19,561
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Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
8,210
8,210
Trade creditors
204,629
99,505
Taxes and social security
42,428
38,430
Other creditors
69
11,086
Loans from directors
10,858
10,858
Deferred income
2,152
9,152
8
Creditors: amounts falling due after more than one year
2017
2016
RealTime DC Ltd
Notes to the Accounts
for the year ended 31 October 2017
9
Capital commitments
2017
2016
At 31 October 2017 the company had no capital commitments (2016 - £0).
10
Average number of employees
During the year the average number of employees was 10 (2016: 9).