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REGISTERED NUMBER: 07217772 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

ROFTEK LIMITED

ROFTEK LIMITED (REGISTERED NUMBER: 07217772)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 28 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ROFTEK LIMITED

COMPANY INFORMATION
for the year ended 28 February 2023







DIRECTOR: A J T Scott





REGISTERED OFFICE: Unit 1c Cotswold Buildings
Barnwood Point
Corinium Avenue
Gloucester
GL4 3HX





REGISTERED NUMBER: 07217772 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

ROFTEK LIMITED (REGISTERED NUMBER: 07217772)

BALANCE SHEET
28 February 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 288,289 113,147

CURRENT ASSETS
Stocks 313,621 190,238
Debtors 5 447,072 270,628
Cash at bank 522,607 340,835
1,283,300 801,701
CREDITORS
Amounts falling due within one year 6 (652,847 ) (281,219 )
NET CURRENT ASSETS 630,453 520,482
TOTAL ASSETS LESS CURRENT
LIABILITIES

918,742

633,629

PROVISIONS FOR LIABILITIES 8 (69,517 ) (28,156 )
NET ASSETS 849,225 605,473

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 849,125 605,373
SHAREHOLDERS' FUNDS 849,225 605,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 November 2023 and were signed by:





A J T Scott - Director


ROFTEK LIMITED (REGISTERED NUMBER: 07217772)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 28 February 2023


1. STATUTORY INFORMATION

Roftek 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 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
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sale taxes. The following criteria must also be met before revenue is recognized:

Rendering of Services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following condition are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Rendering of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as indicated below.

Plant and Machinery-10 -15%Straight line
Plant and Machinery-20%Reducing balance
Fixtures and Fittings-20%Straight line
Motor vehicles-25%Reducing balance
Computer equipment-33%Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit and loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assess for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.

ROFTEK LIMITED (REGISTERED NUMBER: 07217772)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes as financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 9 (2022 - 8 ) .

ROFTEK LIMITED (REGISTERED NUMBER: 07217772)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 151,937 36,703 21,695 13,381 223,716
Additions 218,596 295 9,985 6,388 235,264
At 28 February 2023 370,533 36,998 31,680 19,769 458,980
DEPRECIATION
At 1 March 2022 48,600 32,278 17,726 11,965 110,569
Charge for year 54,713 1,872 1,990 1,547 60,122
At 28 February 2023 103,313 34,150 19,716 13,512 170,691
NET BOOK VALUE
At 28 February 2023 267,220 2,848 11,964 6,257 288,289
At 28 February 2022 103,337 4,425 3,969 1,416 113,147

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 404,455 252,436
Other debtors 42,617 18,192
447,072 270,628

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 197,510 68,954
Amounts owed to group undertakings 14,497 10,966
Taxation and social security 178,902 109,106
Other creditors 261,938 92,193
652,847 281,219

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 46,778 -
Between one and five years 146,871 41,573
193,649 41,573

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 69,517 28,270
Other timing differences - (114 )
69,517 28,156

ROFTEK LIMITED (REGISTERED NUMBER: 07217772)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2022 28,156
Provided during year 41,361
Balance at 28 February 2023 69,517

9. CONTINGENT LIABILITIES

Roftek Limited is the co defendant in on going litigation.