Silverfin false 31/12/2022 01/01/2022 31/12/2022 S Roach 25/08/2009 30 September 2023 The principal activity of the Company during the financial year was providing repairs and service to marine leisure vessels. 06999694 2022-12-31 06999694 bus:Director1 2022-12-31 06999694 2021-12-31 06999694 core:CurrentFinancialInstruments 2022-12-31 06999694 core:CurrentFinancialInstruments 2021-12-31 06999694 core:Non-currentFinancialInstruments 2022-12-31 06999694 core:Non-currentFinancialInstruments 2021-12-31 06999694 core:ShareCapital 2022-12-31 06999694 core:ShareCapital 2021-12-31 06999694 core:RetainedEarningsAccumulatedLosses 2022-12-31 06999694 core:RetainedEarningsAccumulatedLosses 2021-12-31 06999694 core:PlantMachinery 2021-12-31 06999694 core:Vehicles 2021-12-31 06999694 core:FurnitureFittings 2021-12-31 06999694 core:PlantMachinery 2022-12-31 06999694 core:Vehicles 2022-12-31 06999694 core:FurnitureFittings 2022-12-31 06999694 bus:OrdinaryShareClass1 2022-12-31 06999694 2022-01-01 2022-12-31 06999694 bus:FullAccounts 2022-01-01 2022-12-31 06999694 bus:SmallEntities 2022-01-01 2022-12-31 06999694 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 06999694 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 06999694 bus:Director1 2022-01-01 2022-12-31 06999694 core:PlantMachinery core:TopRangeValue 2022-01-01 2022-12-31 06999694 core:Vehicles core:TopRangeValue 2022-01-01 2022-12-31 06999694 core:FurnitureFittings core:TopRangeValue 2022-01-01 2022-12-31 06999694 2021-01-01 2021-12-31 06999694 core:PlantMachinery 2022-01-01 2022-12-31 06999694 core:Vehicles 2022-01-01 2022-12-31 06999694 core:FurnitureFittings 2022-01-01 2022-12-31 06999694 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 06999694 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06999694 (England and Wales)

ROPEWALK LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2022
Pages for filing with the registrar

ROPEWALK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2022

Contents

ROPEWALK LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2022
ROPEWALK LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2022
DIRECTOR S Roach
SECRETARY L Roach
REGISTERED OFFICE Lowin House
Tregolls Road
Truro
TR1 2NA
United Kingdom
COMPANY NUMBER 06999694 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
ROPEWALK LIMITED

BALANCE SHEET

As at 31 December 2022
ROPEWALK LIMITED

BALANCE SHEET (continued)

As at 31 December 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 54,035 51,304
54,035 51,304
Current assets
Stocks 135,100 127,330
Debtors 4 108,816 175,499
Cash at bank and in hand 95,357 90,546
339,273 393,375
Creditors: amounts falling due within one year 5 ( 161,914) ( 136,383)
Net current assets 177,359 256,992
Total assets less current liabilities 231,394 308,296
Creditors: amounts falling due after more than one year 6 ( 17,507) ( 29,477)
Provision for liabilities ( 4,784) ( 4,463)
Net assets 209,103 274,356
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 209,003 274,256
Total shareholders' funds 209,103 274,356

For the financial year ending 31 December 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Ropewalk Limited (registered number: 06999694) were approved and authorised for issue by the Director on 30 September 2023. They were signed on its behalf by:

S Roach
Director
ROPEWALK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2022
ROPEWALK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ropewalk Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 4 years straight line
Fixtures and fittings 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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 stocks 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.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including the director 9 9

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 January 2022 53,567 106,251 29,121 188,939
Additions 1,450 24,165 0 25,615
At 31 December 2022 55,017 130,416 29,121 214,554
Accumulated depreciation
At 01 January 2022 48,388 60,674 28,573 137,635
Charge for the financial year 1,851 20,536 497 22,884
At 31 December 2022 50,239 81,210 29,070 160,519
Net book value
At 31 December 2022 4,778 49,206 51 54,035
At 31 December 2021 5,179 45,577 548 51,304

4. Debtors

2022 2021
£ £
Trade debtors 57,311 93,611
Other debtors 51,505 81,888
108,816 175,499

5. Creditors: amounts falling due within one year

2022 2021
£ £
Trade creditors 61,697 23,679
Taxation and social security 35,675 50,842
Obligations under finance leases and hire purchase contracts 11,969 11,969
Other creditors 52,573 49,893
161,914 136,383

6. Creditors: amounts falling due after more than one year

2022 2021
£ £
Obligations under finance leases and hire purchase contracts 17,507 29,477

7. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Other financial commitments

2022 2021
£ £
Operating lease entered into contracted but not provided for 40,143 80,286

9. Related party transactions

Transactions with the entity's director

2022 2021
£ £
Interest free loan, repayable on demand 36,484 65,936