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REGISTERED NUMBER: SC281406 (Scotland)















Rosskeen Engineering Ltd

Financial Statements For The Year Ended 30 April 2022






Rosskeen Engineering Ltd (Registered number: SC281406)






Contents of the Financial Statements
For The Year Ended 30 April 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Rosskeen Engineering Ltd

Company Information
For The Year Ended 30 April 2022







DIRECTORS: Mrs A Wood
D P Wood
Ms J J Campbell





REGISTERED OFFICE: Auchintoul Farm
Rosskeen
Invergordon
Ross-Shire
IV18 0PL





REGISTERED NUMBER: SC281406 (Scotland)





ACCOUNTANTS: The Long Partnership
1st Floor
Robertson House
Shore Street
Inverness
Highland
IV1 1NF

Rosskeen Engineering Ltd (Registered number: SC281406)

Balance Sheet
30 April 2022

30.4.22 30.4.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 93,238 35,277

CURRENT ASSETS
Stocks 250,429 242,456
Debtors 5 514,956 345,470
Cash at bank 173 173
765,558 588,099
CREDITORS
Amounts falling due within one year 6 890,313 658,228
NET CURRENT LIABILITIES (124,755 ) (70,129 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(31,517

)

(34,852

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 7 98,453 51,482
Retained earnings (130,970 ) (87,334 )
SHAREHOLDERS' FUNDS (31,517 ) (34,852 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 27 October 2023 and were signed on its behalf by:




Mrs A Wood - Director


Rosskeen Engineering Ltd (Registered number: SC281406)

Notes to the Financial Statements
For The Year Ended 30 April 2022

1. STATUTORY INFORMATION

Rosskeen Engineering Ltd is a private company, limited by shares , registered in Scotland. 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
As at 30 April 2022 the company had net current liabilities of £124,755 (2021 - £70,129) and net liabilities of £31,517 (2021 - £34,852).

With an upturn in trade following Covid19 closures the directors consider it appropriate to prepare the accounts on the going concern basis.

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 each asset over its estimated useful life.
Equipment - 33% on cost, 25% on cost and at variable rates on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Rosskeen Engineering Ltd (Registered number: SC281406)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2021 - 40 ) .

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST OR VALUATION
At 1 May 2021 250,479
Additions 10,455
Disposals (134,110 )
Revaluations 46,971
At 30 April 2022 173,795
DEPRECIATION
At 1 May 2021 215,202
Charge for year 11
Eliminated on disposal (134,656 )
At 30 April 2022 80,557
NET BOOK VALUE
At 30 April 2022 93,238
At 30 April 2021 35,277

Cost or valuation at 30 April 2022 is represented by:

Equipment
£   
Valuation in 2022 46,971
Cost 126,824
173,795

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.22 30.4.21
£    £   
Trade debtors 457,115 319,424
Other debtors 57,841 26,046
514,956 345,470

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.22 30.4.21
£    £   
Bank loans and overdrafts 338,465 186,678
Trade creditors 331,497 224,945
Taxation and social security 149,883 174,732
Other creditors 70,468 71,873
890,313 658,228

Rosskeen Engineering Ltd (Registered number: SC281406)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2022

7. RESERVES
Fair
value
reserve
£   
At 1 May 2021 51,482
Fair value reserve 46,971

At 30 April 2022 98,453

8. CONTINGENT ASSETS AND LIABILITIES

The company has been asked to investigate whether certain expenses incurred by certain directors constituted legitimate business expenses. That dispute has in part been resolved. So while it remains possible that the directors loan accounts will require further adjustment, it is not believed this will have a material impact on the accounts

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2022 and 30 April 2021:

30.4.22 30.4.21
£    £   
Mrs A Wood
Balance outstanding at start of year - -
Amounts advanced 28,078 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,078 -