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REGISTERED NUMBER: 07909951 (England and Wales)







Financial Statements

for the Year Ended 31st March 2023

for

ROCLIFF LIMITED

ROCLIFF LIMITED (REGISTERED NUMBER: 07909951)






Contents of the Financial Statements
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Income Statement 2

Abridged Balance Sheet 3

Notes to the Financial Statements 4


ROCLIFF LIMITED

Company Information
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: Mr C R C Howard
Mrs K Holbrook





REGISTERED OFFICE: Rocliff Workwear Rental & Laundry
Units 1, 2 and 3 Hussey Road
Battlefield Enterprise Park
Shrewsbury
Shropshire
SY1 3TE





REGISTERED NUMBER: 07909951 (England and Wales)





ACCOUNTANTS: Stanton Ralph & Co Limited
Chartered Accountants
The Old Police Station
Whitburn Street
Bridgnorth
Shropshire
WV16 4QP

ROCLIFF LIMITED (REGISTERED NUMBER: 07909951)

Income Statement
FOR THE YEAR ENDED 31ST MARCH 2023

31.3.22 31.3.23
as restated
£    £    Notes £    £   

1,890,546 INCOME 2,361,804

985,090 Cost of sales 1,311,073
905,456 GROSS PROFIT 1,050,731

188,439 Distribution costs 218,703
404,459 Administrative expenses 423,168
592,898 641,871
312,558 408,860

13,717 Other operating income -
OPERATING PROFIT and
326,275 PROFIT BEFORE TAXATION 408,860

90,378 Tax on profit 81,063
235,897 PROFIT FOR THE FINANCIAL YEAR 327,797

ROCLIFF LIMITED (REGISTERED NUMBER: 07909951)

Abridged Balance Sheet
31ST MARCH 2023

31.3.22 31.3.23
as restated
£    £    Notes £    £   
FIXED ASSETS
652,498 Tangible assets 6 460,564

CURRENT ASSETS
480,743 Stocks 681,176
303,227 Debtors 577,162
271,111 Cash at bank and in hand 406,872
1,055,081 1,665,210
CREDITORS
280,277 Amounts falling due within one year 398,753
774,804 NET CURRENT ASSETS 1,266,457
1,427,302 TOTAL ASSETS LESS CURRENT LIABILITIES 1,727,021

192,523 PROVISIONS FOR LIABILITIES 7 244,445
1,234,779 NET ASSETS 1,482,576

CAPITAL AND RESERVES
100 Called up share capital 8 100
1,234,679 Retained earnings 1,482,476
1,234,779 SHAREHOLDERS' FUNDS 1,482,576

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

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 7th November 2023 and were signed on its behalf by:




Mr C R C Howard - Director


ROCLIFF LIMITED (REGISTERED NUMBER: 07909951)

Notes to the Financial Statements
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Rocliff 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Income represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Improvements - over the period of the lease
Plant and machinery - 10% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Workwear and linen stocks are written off systematically commencing with the date that they are brought ino use so as to match consumption with their anticipated useful lives to the business.

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.

ROCLIFF LIMITED (REGISTERED NUMBER: 07909951)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administration expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 34 ) .

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.3.23 31.3.22
as restated
£    £   
Depreciation - owned assets 68,671 71,725
Government grants - (13,717 )

5. PRIOR YEAR ADJUSTMENT

A supplier accrual of £116,003, part of which has become statute barred since finalisation of the company's 31st March 2022 accounts, has been released after the company reaching a settlement with the supplier. £32,996 relates to the year ended 31st March 2022 and £83,007 relates to the years ended 31st March 2021 and previously. Corporation tax of £22,040, assessable in the year ended 31st March 2023, is attributable to the release.

Prior year corporation tax charges for the years ended 31st March 2020 to 31st March 2021 have been increased by £44,577 due to an error in the adding back of depreciation charges on workwear and similar items within the company's external accountant's software. Consequential prior year adjustments for deferred tax have resulted in a total charge of £211,748, £120,781 for the year ended 31st March 2022 and £90,967 for the years ended 31st March 2021 and previously.

ROCLIFF LIMITED (REGISTERED NUMBER: 07909951)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31ST MARCH 2023

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2022 994,128
Additions 72,268
Disposals (209,086 )
At 31st March 2023 857,310
DEPRECIATION
At 1st April 2022 341,630
Charge for year 68,671
Eliminated on disposal (13,555 )
At 31st March 2023 396,746
NET BOOK VALUE
At 31st March 2023 460,564
At 31st March 2022 652,498

7. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
as restated
£    £   
Deferred tax 244,445 192,523

Deferred
tax
£   
Balance at 1st April 2022 192,523
Provision for the year 51,922
Balance at 31st March 2023 244,445

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.03.23 31.03.22
value: £ £
50 Ordinary A £1.00 50.00 50.00
50 Ordinary B £1.00 50.00 50.00
100.00 100.00