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REGISTERED NUMBER: 07708187 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st July 2023

for

Roel Limited

Roel Limited (Registered number: 07708187)






Contents of the Financial Statements
for the Year Ended 31st July 2023




Page

Company information 1

Abridged statement of financial position 2

Notes to the financial statements 4


Roel Limited

Company Information
for the Year Ended 31st July 2023







Director: R C Crompton





Registered office: Unit 20
Goldicote Business Park Banbury
Goldicote
Stratford-Upon-Avon
Warwickshire
CV37 7NB





Registered number: 07708187 (England and Wales)





Accountants: Cooper Paul
Abacus House
14-18 Forest Road
Loughton
Essex
IG10 1DX

Roel Limited (Registered number: 07708187)

Abridged Statement of Financial Position
31st July 2023

2023 2022
Notes £    £   
Fixed assets
Intangible assets 4 9,223 13,175
Tangible assets 5 996,517 590,126
1,005,740 603,301

Current assets
Debtors 6 2,302,383 979,028
Cash at bank 367,801 1,145,559
2,670,184 2,124,587
Creditors
Amounts falling due within one year (466,366 ) (430,822 )
Net current assets 2,203,818 1,693,765
Total assets less current liabilities 3,209,558 2,297,066

Provisions for liabilities (174,865 ) (92,947 )
Net assets 3,034,693 2,204,119

Capital and reserves
Called up share capital 2 2
Revaluation reserve 7 315,313 315,313
Retained earnings 2,719,378 1,888,804
Shareholders' funds 3,034,693 2,204,119

Roel Limited (Registered number: 07708187)

Abridged Statement of Financial Position - continued
31st July 2023


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

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

All the members have consented to the preparation of an abridged Income statement and an abridged Statement of financial position for the year ended 31st July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 5th February 2024 and were signed by:





R C Crompton - Director


Roel Limited (Registered number: 07708187)

Notes to the Financial Statements
for the Year Ended 31st July 2023

1. Statutory information

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

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.

Computer software is being amortised evenly over its estimated useful life of five years.

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.

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, Test Facility - 10% on cost
Plant and machinery, Other - 15% reducing balance

3. Employees and directors

The average number of employees during the year was 9 (2022 - 5 ) .

Roel Limited (Registered number: 07708187)

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

4. Intangible fixed assets
Totals
£   
Cost
At 1st August 2022
and 31st July 2023 19,763
Amortisation
At 1st August 2022 6,588
Amortisation for year 3,952
At 31st July 2023 10,540
Net book value

At 31st July 2023 9,223
At 31st July 2022 13,175

5. Tangible fixed assets
Totals
£   
Cost or valuation
At 1st August 2022 1,138,871
Additions 551,115
At 31st July 2023 1,689,986
Depreciation
At 1st August 2022 548,745
Charge for year 144,724
At 31st July 2023 693,469
Net book value
At 31st July 2023 996,517
At 31st July 2022 590,126

The valuation of Test Facility 1 included within plant and machinery is £175,000. (2019 - £175,000). It was valued on an open market basis on 31st March 2014 by IAC Acoustics. The directors believe this valuation still to be accurate.

The valuation of Test Facility 2 included within plant and machinery is £150,000. It was valued on an open market basis on 21st March 2018 by IAC Acoustics.

The valuation of Cell 1 and 2 Energy Storage Systems included within plant and machinery is £75,000 per cell. They were valued on an open market basis on 2nd October 2019 by Goodman Wolfe, Energy Storage Consulting.

Roel Limited (Registered number: 07708187)

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

6. Debtors: amounts falling due after more than one year
2023 2022
£    £   
Other debtors 1,715,400 -

7. Reserves

Revaluation
reserve
£
At 1st August 2018 253,730
Cell 1 and 2 Energy Storage Systems61,583
At 31st July 2019315,313

8. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31st July 2023 and 31st July 2022:

2023 2022
£    £   
R C Crompton
Balance outstanding at start of year 156,363 7,200
Amounts advanced - 163,831
Amounts repaid (156,363 ) (14,668 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 156,363

R J Ellis
Balance outstanding at start of year 156,363 7,200
Amounts advanced - 163,831
Amounts repaid (156,363 ) (14,668 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 156,363