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Registration number: 04502188

AED Rollers Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

AED Rollers Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

AED Rollers Limited

Company Information

Directors

Mr P H Bevan

Mrs J Bevan

Company secretary

Mrs J Bevan

Registered office

Unit 3
Albion Works
Moor Street
Brierley Hill
West Midlands
DY5 3SZ

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

AED Rollers Limited

(Registration number: 04502188)
Balance Sheet as at 30 September 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Intangible assets

4

-

2,720

Tangible assets

5

272,277

172,059

 

272,277

174,779

Current assets

 

Stocks

6

69,128

44,035

Debtors

7

332,792

266,586

Cash at bank and in hand

 

456,540

445,185

 

858,460

755,806

Creditors: Amounts falling due within one year

8

(343,171)

(366,536)

Net current assets

 

515,289

389,270

Total assets less current liabilities

 

787,566

564,049

Creditors: Amounts falling due after more than one year

8

(17,447)

(35,237)

Provisions for liabilities

(92,236)

(30,809)

Net assets

 

677,883

498,003

Capital and reserves

 

Called up share capital

10

4

4

Retained earnings

677,879

497,999

Shareholders' funds

 

677,883

498,003

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

AED Rollers Limited

(Registration number: 04502188)
Balance Sheet as at 30 September 2023

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

.........................................
Mr P H Bevan
Director

   
 

AED Rollers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 3
Albion Works
Moor Street
Brierley Hill
West Midlands
DY5 3SZ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

AED Rollers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Furntiure and fittings

25% reducing balance

Office equipment

25% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Computer software

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

AED Rollers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

AED Rollers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2022 - 14).

 

AED Rollers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 October 2022

8,000

8,000

At 30 September 2023

8,000

8,000

Amortisation

At 1 October 2022

5,280

5,280

Amortisation charge

2,720

2,720

At 30 September 2023

8,000

8,000

Carrying amount

At 30 September 2023

-

-

At 30 September 2022

2,720

2,720

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

298,337

98,987

397,324

Additions

169,026

23,304

192,330

At 30 September 2023

467,363

122,291

589,654

Depreciation

At 1 October 2022

202,449

22,816

225,265

Charge for the year

67,243

24,869

92,112

At 30 September 2023

269,692

47,685

317,377

Carrying amount

At 30 September 2023

197,671

74,606

272,277

At 30 September 2022

95,888

76,171

172,059

 

AED Rollers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Stocks

2023
£

2022
£

Other inventories

69,128

44,035

7

Debtors

Current

2023
£

2022
£

Trade debtors

329,872

227,552

Prepayments

2,920

29,684

Other debtors

-

9,350

 

332,792

266,586

 

AED Rollers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

8

Creditors

Note

2023
£

(As restated)

2022
£

Due within one year

 

Bank loans and overdrafts

9

17,961

22,907

Trade creditors

 

166,955

159,907

Amounts owed to related parties

30,215

28,651

Taxation and social security

 

59,067

60,408

Other creditors

 

68,973

94,663

 

343,171

366,536

Due after one year

 

Loans and borrowings

9

17,447

35,237

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000

Hire purchase contracts

7,961

12,907

17,961

22,907

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

17,447

27,276

Hire purchase contracts

-

7,961

17,447

35,237

10

Share capital - prior period adjustment

For all financial statements provided prior to the current year ended 30 September 2023, share capital has been included at an incorrect value. Therefore, the prior year figures in these financial statements have been restated to show the correct value of the share capital. This change has resulted in the share capital value decreasing from £100 to £4.