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Company Registration No. 10551902 (England and Wales)
R.O Surfaces Limited Unaudited accounts for the year ended 31 January 2023
R.O Surfaces Limited Company Information for the year ended 31 January 2023
Director
David Dixon
Company Number
10551902 (England and Wales)
Registered Office
1 Oakwood Place Blakelaw Newcastle Upon Tyne Tyne and Wear NE5 3SQ
Accountants
Accounting Inc. Ltd Hoults Yard Walker Rd Newcastle upon Tyne Tyne and Wear NE6 2HL
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R.O Surfaces Limited Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
140,159 
98,269 
Current assets
Inventories
2,000 
2,000 
Debtors
- 
5,850 
Cash at bank and in hand
90,602 
35,581 
92,602 
43,431 
Creditors: amounts falling due within one year
(79,061)
(37,875)
Net current assets
13,541 
5,556 
Total assets less current liabilities
153,700 
103,825 
Creditors: amounts falling due after more than one year
(113,945)
(77,281)
Provisions for liabilities
Deferred tax
(26,630)
(18,671)
Net assets
13,125 
7,873 
Capital and reserves
Called up share capital
15 
15 
Profit and loss account
13,110 
7,858 
Shareholders' funds
13,125 
7,873 
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 June 2023 and were signed on its behalf by
David Dixon Director Company Registration No. 10551902
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R.O Surfaces Limited Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
R.O Surfaces Limited is a private company, limited by shares, registered in England and Wales, registration number 10551902. The registered office is 1 Oakwood Place, Blakelaw, Newcastle Upon Tyne, Tyne and Wear, NE5 3SQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
10% reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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R.O Surfaces Limited Notes to the Accounts for the year ended 31 January 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Going concern
The financial statements have been pepared on a going concern basis on the understanding that the director and company shareholder will continue to financially support the company through uncertain periods.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 February 2022
148,505 
19,100 
779 
1,711 
170,095 
Additions
92,000 
- 
- 
217 
92,217 
Disposals
(6,000)
- 
- 
- 
(6,000)
At 31 January 2023
234,505 
19,100 
779 
1,928 
256,312 
Depreciation
At 1 February 2022
64,981 
6,573 
211 
61 
71,826 
Charge for the year
39,004 
3,132 
57 
334 
42,527 
On disposals
1,800 
- 
- 
- 
1,800 
At 31 January 2023
105,785 
9,705 
268 
395 
116,153 
Net book value
At 31 January 2023
128,720 
9,395 
511 
1,533 
140,159 
At 31 January 2022
83,524 
12,527 
568 
1,650 
98,269 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
5,850 
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R.O Surfaces Limited Notes to the Accounts for the year ended 31 January 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,000 
10,000 
VAT
11,232 
- 
Obligations under finance leases and hire purchase contracts
32,214 
29,810 
Trade creditors
28,036 
- 
Taxes and social security
1,457 
3,759 
Other creditors
80 
83 
Loans from directors
1,042 
(5,777)
79,061 
37,875 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
28,333 
33,333 
Obligations under finance leases and hire purchase contracts
85,612 
43,948 
113,945 
77,281 
8
Average number of employees
During the year the average number of employees was 11 (2022: 9).
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