RSM Projects Ltd - Period Ending 2018-04-30

Registration number: 04962961

RSM Projects Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2018

RSM Projects Ltd

Contents

Statement of Financial Position	1
Notes to the Financial Statements	2 to 5

RSM Projects Ltd

(Registration number: 04962961)
Statement of Financial Position as at 30 April 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	5,103	3,090
Current assets
Cash at bank and in hand		10,746	4,495
Creditors: Amounts falling due within one year	5	(35,371)	(35,632)
Net current liabilities		(24,625)	(31,137)
Net liabilities		(19,522)	(28,047)
Capital and reserves
Called up share capital	6	2	2
Profit and loss account		(19,524)	(28,049)
Total equity		(19,522)	(28,047)

For the financial year ending 30 April 2018 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 12 October 2018
 

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

Mr R S Mortimer
Director

The notes on pages 2 to 5 form an integral part of these financial statements.

Page 1

RSM Projects Ltd

Notes to the Financial Statements for the Year Ended 30 April 2018

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 12 October 2018.

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 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.

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.

Page 2

RSM Projects Ltd

Notes to the Financial Statements for the Year Ended 30 April 2018

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
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 (2017 - 1).

Page 3

RSM Projects Ltd

Notes to the Financial Statements for the Year Ended 30 April 2018

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 May 2017	14,918	5,000	19,918
Additions	2,983	-	2,983
At 30 April 2018	17,901	5,000	22,901
Depreciation
At 1 May 2017	12,439	4,389	16,828
Charge for the year	817	153	970
At 30 April 2018	13,256	4,542	17,798
Carrying amount
At 30 April 2018	4,645	458	5,103
At 30 April 2017	2,479	611	3,090

5

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Taxation and social security	2,417	535
Accruals and deferred income	1,055	1,025
Other creditors	31,899	34,072
	35,371	35,632

Page 4

RSM Projects Ltd

Notes to the Financial Statements for the Year Ended 30 April 2018

6	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1
Ordinary B of £1 each	1	1	1	1
	2	2	2	2

Page 5