Company Registration No. 04684250 (England and Wales)
RealTime DC Ltd
Unaudited accounts
for the year ended 31 October 2018
RealTime DC Ltd
Unaudited accounts
Contents
RealTime DC Ltd
Company Information
for the year ended 31 October 2018
Directors
B R Pellett
D R Pellett
Company Number
04684250 (England and Wales)
Registered Office
Unit S5, Rudford Industrial Estate
Ford Road
Ford, Arundel
West Sussex
BN18 0BF
Accountants
Bowden Smith
6 Roedeer Copse
Haslemere
GU27 1RF
RealTime DC Ltd
Statement of financial position
as at
31 October 2018
Tangible assets
47,468
2,449
Inventories
43,425
71,852
Cash at bank and in hand
48,628
65,463
Creditors: amounts falling due within one year
(224,511)
(270,653)
Net current assets
70,184
59,414
Total assets less current liabilities
117,652
61,863
Creditors: amounts falling due after more than one year
(37,180)
(6,841)
Provisions for liabilities
Deferred tax
(8,709)
(87)
Called up share capital
160
150
Profit and loss account
71,603
54,785
Shareholders' funds
71,763
54,935
For the year ending 31 October 2018 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 3 December 2018.
B R Pellett
Director
Company Registration No. 04684250
RealTime DC Ltd
Notes to the Accounts
for the year ended 31 October 2018
RealTime DC Ltd is a private company, limited by shares, registered in England and Wales, registration number 04684250. The registered office is Unit S5, Rudford Industrial Estate, Ford Road, Ford, Arundel, West Sussex, BN18 0BF.
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.
Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them. 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.
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
Plant & machinery
10% per annum on cost
Motor vehicles
25% per annum on reducing balance
Fixtures & fittings
33% per annum on cost
Computer equipment
33% per annum on cost
RealTime DC Ltd
Notes to the Accounts
for the year ended 31 October 2018
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.
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 2018
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 November 2017
-
8,438
5,400
37,267
51,105
Additions
49,926
-
-
3,220
53,146
Disposals
-
-
(116)
(6,188)
(6,304)
At 31 October 2018
49,926
8,438
5,284
34,299
97,947
At 1 November 2017
-
8,023
5,400
35,233
48,656
Charge for the year
4,993
108
-
1,314
6,415
On disposals
-
-
(116)
(4,476)
(4,592)
At 31 October 2018
4,993
8,131
5,284
32,071
50,479
At 31 October 2018
44,933
307
-
2,228
47,468
At 31 October 2017
-
415
-
2,034
2,449
Finished goods
43,425
71,852
Trade debtors
141,206
179,176
Accrued income and prepayments
2,734
5,189
Other debtors
58,702
8,387
7
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
-
8,210
Trade creditors
147,452
204,629
Taxes and social security
63,219
42,428
Other creditors
11,440
69
Loans from directors
-
10,858
RealTime DC Ltd
Notes to the Accounts
for the year ended 31 October 2018
8
Creditors: amounts falling due after more than one year
2018
2017
9
Capital commitments
2018
2017
At 31 October 2018 the company had no capital commitments (2017 - £0).
10
Average number of employees
During the year the average number of employees was 7 (2017: 10).