Company registration number 10378368 (England and Wales)
Rope Access Trade Solutions Ltd
Unaudited
financial statements
for the year ended 30 September 2023
PAGES FOR FILING WITH REGISTRAR
Rope Access Trade Solutions Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Rope Access Trade Solutions Ltd
Statement Of Financial Position
as at 30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
237,338
240,958
Current assets
Debtors
684,065
718,812
Cash at bank and in hand
45,216
157,024
729,281
875,836
Creditors: amounts falling due within one year
(435,930)
(483,305)
Net current assets
293,351
392,531
Total assets less current liabilities
530,689
633,489
Creditors: amounts falling due after more than one year
(304,170)
(193,595)
Provisions for liabilities
4
(22,557)
(22,557)
Net assets
203,962
417,337
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
203,952
417,327
Total equity
203,962
417,337
Rope Access Trade Solutions Ltd
Statement Of Financial Position (continued)
as at 30 September 2023
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 8 February 2024 and are signed on its behalf by:
S Kirk
Director
Company Registration No. 10378368
Rope Access Trade Solutions Ltd
Notes to the financial statements
for the year ended 30 September 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received for services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% Reducing balance
Fixtures and fittings
25% Reducing balance
Motor vehicles
25% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised on all timing differences between the carrying amount of of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is then settled or the asset realised, based on the tax rates that have been enacted or substantively enacted by the end of the reporting period.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Rope Access Trade Solutions Ltd
Notes to the financial statements (continued)
for the year ended 30 September 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
20
20
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2022
98,163
17,646
287,012
402,821
Additions
14,354
50,663
65,017
At 30 September 2023
98,163
32,000
337,675
467,838
Depreciation and impairment
At 1 October 2022
62,809
4,617
94,437
161,863
Depreciation charged in the year
7,071
5,928
55,638
68,637
At 30 September 2023
69,880
10,545
150,075
230,500
Carrying amount
At 30 September 2023
28,283
21,455
187,600
237,338
At 30 September 2022
35,354
13,029
192,575
240,958
4
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
22,557
22,557
5
Company information
Rope Access Trade Solutions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 9-10 Charlotte Terrace, South Shields, Tyne & Wear, NE33 4NU.