ROUND AND ROUND LIMITED 09605327 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is Retail sale via mail order houses or via Internet Digita Accounts Production Advanced 6.30.9574.0 true 09605327 2022-06-01 2023-05-31 09605327 2023-05-31 09605327 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 09605327 core:Non-currentFinancialInstruments 2023-05-31 09605327 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 09605327 core:FurnitureFittings 2023-05-31 09605327 bus:SmallEntities 2022-06-01 2023-05-31 09605327 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 09605327 bus:FullAccounts 2022-06-01 2023-05-31 09605327 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 09605327 bus:RegisteredOffice 2022-06-01 2023-05-31 09605327 bus:Director1 2022-06-01 2023-05-31 09605327 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 09605327 core:FurnitureFittings 2022-06-01 2023-05-31 09605327 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 09605327 countries:England 2022-06-01 2023-05-31 09605327 2022-05-31 09605327 core:FurnitureFittings 2022-05-31 09605327 2021-06-01 2022-05-31 09605327 2022-05-31 09605327 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 09605327 core:Non-currentFinancialInstruments 2022-05-31 09605327 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 09605327 core:FurnitureFittings 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 09605327

ROUND AND ROUND LIMITED

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

ROUND AND ROUND LIMITED

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

ROUND AND ROUND LIMITED

Company Information

Director

Mr Tomer Ackerman

Registered office

24 Thrapston Road
Brampton
Huntingdon
PE28 4TD

Accountants

ESSEX & EAST LONDON ACCOUNTANTS LIMITED
Suite G04 1 Quality Court
Chancery Lane
London
WC2A 1HR

 

ROUND AND ROUND LIMITED

(Registration number: 09605327)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,643

14,048

Current assets

 

Cash at bank and in hand

 

259,373

243,801

Creditors: Amounts falling due within one year

5

(10,469)

(12,511)

Net current assets

 

248,904

231,290

Total assets less current liabilities

 

261,547

245,338

Creditors: Amounts falling due after more than one year

5

(1,559)

(1,559)

Net assets

 

259,988

243,779

Capital and reserves

 

Called up share capital

6

1

1

Profit and loss account

259,987

243,778

Shareholders' funds

 

259,988

243,779

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 21 February 2024
 

.........................................
Mr Tomer Ackerman
Director

 

ROUND AND ROUND LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

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

The address of its registered office is:
24 Thrapston Road
Brampton
Huntingdon
PE28 4TD
England

These financial statements were authorised for issue by the director on 21 February 2024.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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.

Tax

The tax expense for the period comprises current 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.

 

ROUND AND ROUND LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

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

Fixtures and fittings

Reducing balance 10%

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.

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.

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.

 

ROUND AND ROUND LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

ROUND AND ROUND LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 June 2022

18,443

18,443

At 31 May 2023

18,443

18,443

Depreciation

At 1 June 2022

4,395

4,395

Charge for the year

1,405

1,405

At 31 May 2023

5,800

5,800

Carrying amount

At 31 May 2023

12,643

12,643

At 31 May 2022

14,048

14,048

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

3,489

2,241

Taxation and social security

5,511

8,051

Accruals and deferred income

1,469

2,218

Other creditors

-

1

10,469

12,511

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

1,559

1,559

 

ROUND AND ROUND LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

6

Share capital

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

1,559

1,559