RMI Finance Ltd - Limited company accounts 11.7

REGISTERED NUMBER: 07766047 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2014

FOR

RMI FINANCE LTD

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Mr Richard Malachowski

SECRETARY:

REGISTERED OFFICE:

Closefield House

21a Burley Road

Oakham

Rutland

LE15 6DH

BUSINESS ADDRESS:

5 High Street

Sawtry

Cambridgeshire

PE28 5SR

REGISTERED NUMBER:

07766047 (England and Wales)

ACCOUNTANTS:

Presland & Co

Certified Public Accountants

Closefield House

21a Burley Road

Oakham

Rutland

LE15 6DH

The director presents his report with the financial statements of the company for the year ended 30 September 2014.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Independent Financial Advisers.

DIRECTOR

Mr Richard Malachowski held office during the whole of the period from 1 October 2013 to the date of this report.

His beneficial interest in the shares of the company, according to the register of directors' interests, was as follows:

30.9.14

1.10.13

Ordinary shares of £1 each

1

He did not hold any non-beneficial interests in the shares of the company.

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

to small companies.

ON BEHALF OF THE BOARD:

Mr Richard Malachowski - Director

18 September 2015

TURNOVER

158,950

161,547

Cost of sales

(33,459

)

(25,915

)

GROSS PROFIT

125,491

135,632

Distribution costs

-

(1,157

)

Administrative expenses

(96,905

)

(118,762

)

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

2

28,586

15,713

Tax on profit on ordinary activities

3

(5,717

)

(3,143

)

PROFIT FOR THE FINANCIAL YEAR

22,869

12,570

CURRENT ASSETS

Debtors

5

(3,308

)

8,677

Cash at bank

36,694

35,611

33,386

44,288

CREDITORS

Amounts falling due within one year

6

(771

)

(17,543

)

NET CURRENT ASSETS

32,615

26,745

TOTAL ASSETS LESS CURRENT
LIABILITIES

32,615

26,745

CAPITAL AND RESERVES

Called up share capital

7

2

1

Profit and loss account

8

32,613

26,744

SHAREHOLDERS' FUNDS

32,615

26,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 18 September 2015 and were signed by:

Mr Richard Malachowski - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

30.9.14

30.9.13

£

Director's remuneration

7,680

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

30.9.14

30.9.13

£

Current tax:

UK corporation tax

5,717

3,143

Tax on profit on ordinary activities

5,717

3,143

4.

DIVIDENDS

30.9.14

30.9.13

£

Final

17,000

-

5.

DEBTORS

30.9.14

30.9.13

£

Amounts falling due within one year:

Trade debtors

5,439

2,311

Other debtors

-

8,481

Tax

(6,285

)

(3,143

)

VAT

3,255

1,028

2,409

8,677

30.9.14

30.9.13

£

Amounts falling due after more than one year:

Corporation Tax

(5,717

)

-

Aggregate amounts

(3,308

)

8,677

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.14

30.9.13

£

Trade creditors

213

17,546

Social security and other taxes

(3

)

(3

)

Other creditors

445

-

Directors' current accounts

116

-

771

17,543

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.14

30.9.13

value:

£

2

Ordinary

£1

2

1

1 Ordinary share of £1 was issued during the year for cash of £ 1 .

8.

RESERVES

Profit

and loss

account

£

At 1 October 2013

26,744

Profit for the year

22,869

Dividends

(17,000

)

At 30 September 2014

32,613