RSM Projects Ltd - Period Ending 2017-04-30

Registration number: 04962961

RSM Projects Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2017

RSM Projects Ltd

Contents

Statement of Financial Position	1
Notes to the Financial Statements	2 to 4

RSM Projects Ltd

(Registration number: 04962961)
Statement of Financial Position as at 30 April 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	3,090	3,731
Current assets
Debtors	5	-	1,257
Cash at bank and in hand		4,495	1,580
		4,495	2,837
Creditors: Amounts falling due within one year	6	(35,632)	(33,261)
Net current liabilities		(31,137)	(30,424)
Net liabilities		(28,047)	(26,693)
Capital and reserves
Called up share capital		2	2
Profit and loss account		(28,049)	(26,695)
Total equity		(28,047)	(26,693)

For the financial year ending 30 April 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 Income Statement has been taken.

Approved and authorised by the director on 31 July 2017
 

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

Mr R S Mortimer

Director

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

Page 1

RSM Projects Ltd

Notes to the Financial Statements for the Year Ended 30 April 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:
St George's House
215-219 Chester Road
Manchester
Lancashire
M15 4JE
United Kingdom

These financial statements were authorised for issue by the director on 31 July 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.
These financial statements for the year ended 30 April 2017 are the first financial statements that comply with FRS 102 Section 1A for small entities.
The date of transition is 1 May 2015. The transition to FRS 102 Section 1A for small entities has resulted in no change in accounting policies to those previously used.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurances from the director that he will continue to give financial support to the company for the foreseeable future and for a period not less than 12 months from the date of signing these financial statements.

On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be be necessary should this basis not continue to be appropriate.

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.

Page 2

RSM Projects Ltd

Notes to the Financial Statements for the Year Ended 30 April 2017

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
Fixtures and fittings	15% reducing balance
Motor vehicles	25% reducing balance

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 1).

Page 3

RSM Projects Ltd

Notes to the Financial Statements for the Year Ended 30 April 2017

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 May 2016	5,335	5,000	9,583	19,918
At 30 April 2017	5,335	5,000	9,583	19,918
Depreciation
At 1 May 2016	4,022	4,185	7,980	16,187
Charge for the year	197	204	240	641
At 30 April 2017	4,219	4,389	8,220	16,828
Carrying amount
At 30 April 2017	1,116	611	1,363	3,090
At 30 April 2016	1,313	815	1,603	3,731

5

Debtors

	2017 £	2016 £
Other debtors	-	1,257
Total current trade and other debtors	-	1,257

6

Creditors

	Note	2017 £	2016 £
Due within one year
Taxation and social security		535	-
Other creditors		35,097	33,261
		35,632	33,261

7	Transition to FRS 102

These financial statements for the year ended 30 April 2017 are the first financial statements that comply with FRS 102 Section 1A for small entities.
The transition to FRS 102 Section 1A for small entities has resulted in no changes in accounting policies to those previousy used.

Page 4