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Company Registration No. 04725217 (England and Wales)
Rolling Center Limited Unaudited accounts for the year ended 31 March 2023
Rolling Center Limited Unaudited accounts Contents
Page
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Rolling Center Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
234,159 
275,947 
Investments
50,500 
- 
284,659 
275,947 
Current assets
Inventories
891,324 
770,479 
Debtors
1,001,016 
1,008,289 
Cash at bank and in hand
1,568,240 
1,299,287 
3,460,580 
3,078,055 
Creditors: amounts falling due within one year
(1,899,716)
(1,773,115)
Net current assets
1,560,864 
1,304,940 
Total assets less current liabilities
1,845,523 
1,580,887 
Creditors: amounts falling due after more than one year
(41,158)
(43,894)
Provisions for liabilities
Deferred tax
(35,686)
(32,353)
Net assets
1,768,679 
1,504,640 
Capital and reserves
Called up share capital
1,205 
1,205 
Profit and loss account
1,767,474 
1,503,435 
Shareholders' funds
1,768,679 
1,504,640 
For the year ending 31 March 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 directors acknowledge their 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 of Directors and authorised for issue on 30 June 2023 and were signed on its behalf by
Simon Smith Director Company Registration No. 04725217
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Rolling Center Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Rolling Center Limited is a private company, limited by shares, registered in England and Wales, registration number 04725217. The registered office is Unit 6, Whitehall Cross, Leeds, LS12 5XE.
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.
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.
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:
Land & buildings
10% Straight Line
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Computer equipment
33% Straight Line
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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.
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.
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Rolling Center Limited Notes to the Accounts for the year ended 31 March 2023
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
81,959 
376,187 
458,146 
Additions
- 
10,621 
10,621 
Disposals
- 
(46,542)
(46,542)
At 31 March 2023
81,959 
340,266 
422,225 
Depreciation
At 1 April 2022
25,892 
156,307 
182,199 
Charge for the year
8,196 
44,213 
52,409 
On disposals
- 
(46,542)
(46,542)
At 31 March 2023
34,088 
153,978 
188,066 
Net book value
At 31 March 2023
47,871 
186,288 
234,159 
At 31 March 2022
56,067 
219,880 
275,947 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
38,250 
51,000 
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Rolling Center Limited Notes to the Accounts for the year ended 31 March 2023
5
Investments
Other investments 
£ 
Valuation at 1 April 2022
- 
Additions
49,500 
Fair value adjustments
1,000 
Valuation at 31 March 2023
50,500 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
941,325 
841,698 
Other debtors
59,691 
166,591 
1,001,016 
1,008,289 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
2,736 
2,736 
Trade creditors
1,396,027 
1,232,327 
Taxes and social security
419,924 
385,576 
Other creditors
81,029 
152,476 
1,899,716 
1,773,115 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
41,158 
43,894 
9
Average number of employees
During the year the average number of employees was 16 (2022: 16).
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