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REGISTERED NUMBER: 08538774 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

ROLFE STREET ARC LTD

ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROLFE STREET ARC LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr K S Jutla





REGISTERED OFFICE: 144 Rolfe Street
Smethwick
West Midlands
B66 2BE





REGISTERED NUMBER: 08538774 (England and Wales)





ACCOUNTANTS: Ark Aurora Ltd
Chartered Accountants & Chartered Tax Advisers
The Maltings
2 Anderson Rd
Bearwood
Birmingham
West Midlands
B66 4AR

ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 117,500 117,500
Tangible assets 5 241,124 240,287
358,624 357,787

CURRENT ASSETS
Stocks 6 5,000 22,400
Debtors 7 193,046 245,729
Cash at bank and in hand 418,916 125,575
616,962 393,704
CREDITORS
Amounts falling due within one year 8 162,649 133,649
NET CURRENT ASSETS 454,313 260,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

812,937

617,842

CREDITORS
Amounts falling due after more than one
year

9

(373,562

)

(393,185

)

PROVISIONS FOR LIABILITIES 10 (21,118 ) (14,490 )
NET ASSETS 418,257 210,167

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 418,255 210,165
SHAREHOLDERS' FUNDS 418,257 210,167

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

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

ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

BALANCE SHEET - continued
31 MAY 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 director and authorised for issue on 21 February 2024 and were signed by:





Mr K S Jutla - Director


ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Rolfe Street ARC Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% 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.

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.

ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 117,500
NET BOOK VALUE
At 31 May 2023 117,500
At 31 May 2022 117,500

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 156,253 85,085 30,353 4,579 276,270
Additions - 312 13,609 84 14,005
At 31 May 2023 156,253 85,397 43,962 4,663 290,275
DEPRECIATION
At 1 June 2022 - 22,277 12,980 726 35,983
Charge for year - 9,425 3,157 586 13,168
At 31 May 2023 - 31,702 16,137 1,312 49,151
NET BOOK VALUE
At 31 May 2023 156,253 53,695 27,825 3,351 241,124
At 31 May 2022 156,253 62,808 17,373 3,853 240,287

6. STOCKS
31.5.23 31.5.22
£    £   
Stocks 5,000 22,400

ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 193,046 245,729

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 5,026 5,026
Trade creditors 54,107 49,102
Tax 54,992 4,358
Social security and other taxes 6,453 10,545
VAT 31,725 49,071
Wage creditors 346 -
Wages creditors 7,071 8,207
Pension creditors 729 2,941
Accrued expenses 2,200 4,399
162,649 133,649

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans - 1-2 years 5,153 5,153
Bank loans - 2-5 years 16,254 16,254
Bank loans more 5 yr by instal 12,919 18,313
Director's loan more than 1yr 198,081 188,111
Shareholder fund more than 1yr 141,155 165,354
373,562 393,185

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,919 18,313

10. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 21,118 14,490

ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 14,490
Accelerated capital allowance 5,244
Unused taxable losses 1,384
Balance at 31 May 2023 21,118

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr Charanjit Singh Jutla and Mr Kalwant Singh Jutla.