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REGISTERED NUMBER: 09614094 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Roffes Holdings Limited

Roffes Holdings Limited (Registered number: 09614094)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


Roffes Holdings Limited (Registered number: 09614094)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £ £
Fixed assets
Tangible assets 4 1,075,955 1,086,052
Investments 5 52,125 52,125
1,128,080 1,138,177

Current assets
Stocks 501,911 310,457
Cash at bank 219 304,904
502,130 615,361
Creditors
Amounts falling due within one year 6 (1,131,962 ) (1,273,598 )
Net current liabilities (629,832 ) (658,237 )
Total assets less current liabilities 498,248 479,940

Creditors
Amounts falling due after more than one
year

7

(18,377

)

(28,333

)
Net assets 479,871 451,607

Capital and reserves
Called up share capital 52,125 52,125
Retained earnings 427,746 399,482
479,871 451,607

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Roffes Holdings Limited (Registered number: 09614094)

Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by:





Mr T M Roffe - Director


Roffes Holdings Limited (Registered number: 09614094)

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


1. Statement of compliance

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.

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention or historic cost modified by revaluation of financial assets and financial liabilities held at fair value through profit and loss, except for the financial instruments that are measured at their fair values at the end of each reporting period, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

The presentation currency of the financial statements is the Pound Sterling (£).

The principal accounting policies adopted are set out below. All accounting policies have been applied consistently, other than where new policies have been adopted.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - Straight line over 50 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Roffes Holdings Limited (Registered number: 09614094)

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


2. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Roffes Holdings Limited (Registered number: 09614094)

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


2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

Roffes Holdings Limited (Registered number: 09614094)

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


4. Tangible fixed assets
Freehold
property
£
Cost
At 1 August 2022
and 31 July 2023 1,150,000
Depreciation
At 1 August 2022 63,948
Charge for year 10,097
At 31 July 2023 74,045
Net book value
At 31 July 2023 1,075,955
At 31 July 2022 1,086,052

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 August 2022
and 31 July 2023 52,125
Net book value
At 31 July 2023 52,125
At 31 July 2022 52,125

6. Creditors: amounts falling due within one year
31.7.23 31.7.22
£ £
Bank loans and overdrafts 166,366 216,214
Amounts owed to group undertakings 853,001 1,045,082
Taxation and social security 19,985 10,642
Other creditors 92,610 1,660
1,131,962 1,273,598

7. Creditors: amounts falling due after more than one year
31.7.23 31.7.22
£ £
Bank loans 18,377 28,333

Roffes Holdings Limited (Registered number: 09614094)

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


8. Secured debts

The following secured debts are included within creditors:

31.7.23 31.7.22
£ £
Bank loans 184,743 244,547