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REGISTERED NUMBER: 01381425 (England and Wales)










Financial Statements

for the Year Ended 31 March 2023

for

Rounce Makes Limited

Rounce Makes Limited (Registered number: 01381425)






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


Rounce Makes Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr C Rounce
Mrs P A Rounce





SECRETARY: Mr C Rounce





REGISTERED OFFICE: Torne House
Mosswood
Crowle
Scunthorpe
North Lincolnshire
DN17 4BY





REGISTERED NUMBER: 01381425 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Suite 32/33 Normany Gateway,
Lysaghts Way,
Scunthorpe
North Lincolnshire
DN15 9YG

Rounce Makes Limited (Registered number: 01381425)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 396 359
Investments 5 24,261 21,702
24,657 22,061

CURRENT ASSETS
Stocks 34,008 37,721
Debtors 6 1,036 856
Cash at bank 89,732 5,526
124,776 44,103
CREDITORS
Amounts falling due within one year 7 (71,978 ) (64,900 )
NET CURRENT ASSETS/(LIABILITIES) 52,798 (20,797 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,455

1,264

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 8 76,455 264
77,455 1,264

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 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.

Rounce Makes Limited (Registered number: 01381425)

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 Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:





Mr C Rounce - Director


Rounce Makes Limited (Registered number: 01381425)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Rounce Makes 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
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 as modified by the revaluation of certain assets.

TURNOVER
Turnover represents the net invoiced amount for the hire of plant and machinery and for the sale of goods, 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.
Plant and machinery - 33% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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

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.

3. EMPLOYEES AND DIRECTORS

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

Rounce Makes Limited (Registered number: 01381425)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 31,250 16,182 912 48,344
Additions - land - - 174 174
At 31 March 2023 31,250 16,182 1,086 48,518
DEPRECIATION
At 1 April 2022 31,250 16,181 554 47,985
Charge for year - - 137 137
At 31 March 2023 31,250 16,181 691 48,122
NET BOOK VALUE
At 31 March 2023 - 1 395 396
At 31 March 2022 - 1 358 359

5. FIXED ASSET INVESTMENTS

The company maintains a small share portfolio which it manages through a facility provided by Interactive Investor Services Limited. The market value of the various shares held at the balance sheet date was £24,260 (2022 - £21,701).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
VAT 182 413
Prepayments and accrued income 854 443
1,036 856

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 17,274 120
Directors' current accounts 53,890 64,026
Accrued expenses 814 754
71,978 64,900

8. RESERVES
Retained
earnings
£   

At 1 April 2022 264
Profit for the year 98,009
Dividends (21,818 )
At 31 March 2023 76,455