Rothwell Robinson Limited
Registered number: 02096865
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 44,061 57,454
Current assets
Stocks 1,500 1,500
Debtors 4 8,619 4,102
Cash at bank and in hand 247,251 197,336
257,370 202,938
Creditors: amounts falling due within one year 5 (73,085) (66,781)
Net current assets 184,285 136,157
Total assets less current liabilities 228,346 193,611
Creditors: amounts falling due after more than one year 6 (9,740) (17,197)
Provisions for liabilities (8,372) (10,916)
Net assets 210,234 165,498
Capital and reserves
Called up share capital 3,193 3,193
Share premium 10,440 10,440
Revaluation reserve 7 580 580
Profit and loss account 196,021 151,285
Shareholders' funds 210,234 165,498
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M J Robinson
Director
Approved by the board on 29 November 2023
Rothwell Robinson Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 53,822 87,846 141,668
Additions 939 - 939
At 31 March 2023 54,761 87,846 142,607
Depreciation
At 1 April 2022 49,400 34,814 84,214
Charge for the year 1,072 13,260 14,332
At 31 March 2023 50,472 48,074 98,546
Net book value
At 31 March 2023 4,289 39,772 44,061
At 31 March 2022 4,422 53,032 57,454
4 Debtors 2023 2022
£ £
Trade debtors 3,182 59
Other debtors 5,437 4,043
8,619 4,102
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 7,457 7,457
Trade creditors 12,781 18,302
Corporation tax 28,563 15,951
Other taxes and social security costs 13,060 8,474
Other creditors 11,224 16,597
73,085 66,781
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 9,740 17,197
7 Capital Redemption Reserve 2023 2022
£ £
At 1 April 2022 580 580
At 31 March 2023 580 580
8 Related party transactions 2023 2022
The director is a related party to the company £ £
At 31st March, the company owed the related party the
following interest-free, unsecured amounts:
Amounts due to the related party 3,857 5,637
9 Controlling party
Rothwell Robinson Holdings Limited is the ultimate controlling party by virtue of its 100% ownership of the issued share capital of the company
10 Other information
Rothwell Robinson Limited is a private company limited by shares and incorporated in England. Its registered office is:
Shackleton House
Holyoake Road
Worsley
Manchester
M28 3DL
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