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REGISTERED NUMBER: 08441149 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

ROPE SOURCE LIMITED

ROPE SOURCE LIMITED (REGISTERED NUMBER: 08441149)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROPE SOURCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: J E Lever





REGISTERED OFFICE: Grafton House
81 Chorley Old Road
Bolton
Lancashire
BL1 3AJ





REGISTERED NUMBER: 08441149 (England and Wales)





ACCOUNTANTS: P B Syddall & Co
Chartered Accountants
Grafton House
81 Chorley Old Road
Bolton
Lancashire
BL1 3AJ

ROPE SOURCE LIMITED (REGISTERED NUMBER: 08441149)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 67,806 79,771

CURRENT ASSETS
Debtors 5 6,964 6,635
Investments 6 36,000 57,500
Cash at bank 12,094 7,581
55,058 71,716
CREDITORS
Amounts falling due within one year 7 110,269 108,643
NET CURRENT LIABILITIES (55,211 ) (36,927 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,595

42,844

PROVISIONS FOR LIABILITIES 12,455 14,653
NET ASSETS 140 28,191

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 40 28,091
SHAREHOLDERS' FUNDS 140 28,191

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

ROPE SOURCE LIMITED (REGISTERED NUMBER: 08441149)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 October 2023 and were signed by:





J E Lever - Director


ROPE SOURCE LIMITED (REGISTERED NUMBER: 08441149)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Rope Source Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Office equipment - 15% on reducing balance

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

ROPE SOURCE LIMITED (REGISTERED NUMBER: 08441149)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 94,831 5,056 99,887
DEPRECIATION
At 1 April 2022 17,711 2,405 20,116
Charge for year 11,568 397 11,965
At 31 March 2023 29,279 2,802 32,081
NET BOOK VALUE
At 31 March 2023 65,552 2,254 67,806
At 31 March 2022 77,120 2,651 79,771

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,012 6,635
Directors current account 952 -
6,964 6,635

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Investment at cost 36,000 57,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 35,249 36,706
Tax 6,746 6,189
Social security and other taxes 114 219
VAT 19,589 17,679
Other creditors 35,820 45,833
Paypal loan 11,201 -
Directors current account - 517
Accrued expenses 1,550 1,500
110,269 108,643