Rolle Freight Limited 10111864 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is logistics and the rental of property. Digita Accounts Production Advanced 6.30.9574.0 true 10111864 2022-05-01 2023-04-30 10111864 2023-04-30 10111864 core:RetainedEarningsAccumulatedLosses 2023-04-30 10111864 core:ShareCapital 2023-04-30 10111864 core:CurrentFinancialInstruments 2023-04-30 10111864 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 10111864 core:LandBuildings 2023-04-30 10111864 core:MotorVehicles 2023-04-30 10111864 core:OtherPropertyPlantEquipment 2023-04-30 10111864 bus:SmallEntities 2022-05-01 2023-04-30 10111864 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 10111864 bus:FullAccounts 2022-05-01 2023-04-30 10111864 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 10111864 bus:RegisteredOffice 2022-05-01 2023-04-30 10111864 bus:Director1 2022-05-01 2023-04-30 10111864 bus:Director2 2022-05-01 2023-04-30 10111864 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 10111864 core:LandBuildings 2022-05-01 2023-04-30 10111864 core:LeaseholdImprovements 2022-05-01 2023-04-30 10111864 core:MotorVehicles 2022-05-01 2023-04-30 10111864 core:OtherPropertyPlantEquipment 2022-05-01 2023-04-30 10111864 core:PlantMachinery 2022-05-01 2023-04-30 10111864 countries:EnglandWales 2022-05-01 2023-04-30 10111864 2022-04-30 10111864 core:LandBuildings 2022-04-30 10111864 core:MotorVehicles 2022-04-30 10111864 core:OtherPropertyPlantEquipment 2022-04-30 10111864 2021-05-01 2022-04-30 10111864 2022-04-30 10111864 core:RetainedEarningsAccumulatedLosses 2022-04-30 10111864 core:ShareCapital 2022-04-30 10111864 core:CurrentFinancialInstruments 2022-04-30 10111864 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 10111864 core:LandBuildings 2022-04-30 10111864 core:MotorVehicles 2022-04-30 10111864 core:OtherPropertyPlantEquipment 2022-04-30 iso4217:GBP xbrli:pure

Registration number: 10111864

Rolle Freight Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 April 2023

 

Rolle Freight Limited
(Registration number: 10111864)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Rolle Freight Limited
(Registration number: 10111864)

Company Information

Directors

C M Stapleton

D P Stapleton

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Rolle Freight Limited
(Registration number: 10111864)

Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

64,786

45,866

Current assets

 

Stocks

5

-

2,000

Debtors

6

16,888

192,136

Cash at bank and in hand

 

1,277,890

798,428

 

1,294,778

992,564

Creditors: Amounts falling due within one year

7

(222,926)

(262,963)

Net current assets

 

1,071,852

729,601

Total assets less current liabilities

 

1,136,638

775,467

Provisions for liabilities

(15,397)

(8,666)

Net assets

 

1,121,241

766,801

Capital and reserves

 

Called up share capital

103

103

Profit and loss account

1,121,138

766,698

Total equity

 

1,121,241

766,801

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 29 September 2023 and signed on its behalf by:
 

.........................................
C M Stapleton
Director

 

Rolle Freight Limited
(Registration number: 10111864)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Rolle Freight Limited
(Registration number: 10111864)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet 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

Motor vehicles

20% straight line basis

Leasehold improvements

20% straight line basis

Plant and machinery

20% straight line basis

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Rolle Freight Limited
(Registration number: 10111864)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 8).

 

Rolle Freight Limited
(Registration number: 10111864)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2022

40,660

87,950

10,416

139,026

Additions

4,000

176,806

292

181,098

Disposals

-

(144,425)

-

(144,425)

At 30 April 2023

44,660

120,331

10,708

175,699

Depreciation

At 1 May 2022

40,660

46,922

5,578

93,160

Charge for the year

800

20,616

1,637

23,053

Eliminated on disposal

-

(5,300)

-

(5,300)

At 30 April 2023

41,460

62,238

7,215

110,913

Carrying amount

At 30 April 2023

3,200

58,093

3,493

64,786

At 30 April 2022

-

41,028

4,838

45,866

Included within the net book value of land and buildings above is £3,200 (2022 - £Nil) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other stocks

-

2,000

6

Debtors

2023
£

2022
£

Trade debtors

10,204

185,733

Other debtors

2,008

1,575

Prepayments and accrued income

4,676

4,828

Total current trade and other debtors

16,888

192,136

 

Rolle Freight Limited
(Registration number: 10111864)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

7

Creditors

2023
£

2022
£

Due within one year

Trade creditors

630

25,318

Taxation and social security

156,408

161,329

Other creditors

59,217

62,699

Accrued expenses

6,671

13,617

222,926

262,963

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £133,250 (2022 - £174,250). 5 year lease of land and buildings at Rolle Road Torrington, beginning 1 August 2021 at £41,000 per annum.