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REGISTERED NUMBER: 01303593 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Roffes Transport Limited

Roffes Transport Limited (Registered number: 01303593)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


Roffes Transport Limited (Registered number: 01303593)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £ £
Fixed assets
Tangible assets 4 2,569,500 2,049,762

Current assets
Stocks 130,686 52,450
Debtors 5 1,698,978 1,646,212
Cash at bank 79,689 89,401
1,909,353 1,788,063
Creditors
Amounts falling due within one year 6 (2,394,701 ) (1,735,183 )
Net current (liabilities)/assets (485,348 ) 52,880
Total assets less current liabilities 2,084,152 2,102,642

Creditors
Amounts falling due after more than one
year

7

(79,636

)

(136,453

)

Provisions for liabilities (365,312 ) (338,079 )
Net assets 1,639,204 1,628,110

Capital and reserves
Called up share capital 52,125 52,125
Retained earnings 1,587,079 1,575,985
1,639,204 1,628,110

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 Transport Limited (Registered number: 01303593)

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 Transport Limited (Registered number: 01303593)

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.

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

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.
Plant and machinery - 15% p.a. reducing balance
Fixtures and fittings - 15% p.a. reducing balance
Motor vehicles - 15% p.a. reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or group of assets.

Roffes Transport Limited (Registered number: 01303593)

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


2. Accounting policies - continued

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 Transport Limited (Registered number: 01303593)

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.

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.

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 42 (2022 - 38 ) .

Roffes Transport Limited (Registered number: 01303593)

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


4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
Cost
At 1 August 2022 392,758 80,488 3,270,841 3,744,087
Additions 29,783 - 969,435 999,218
Disposals - - (450,550 ) (450,550 )
At 31 July 2023 422,541 80,488 3,789,726 4,292,755
Depreciation
At 1 August 2022 169,616 60,366 1,464,343 1,694,325
Charge for year 37,939 3,018 331,056 372,013
Eliminated on disposal - - (343,083 ) (343,083 )
At 31 July 2023 207,555 63,384 1,452,316 1,723,255
Net book value
At 31 July 2023 214,986 17,104 2,337,410 2,569,500
At 31 July 2022 223,142 20,122 1,806,498 2,049,762

5. Debtors: amounts falling due within one year
31.7.23 31.7.22
£ £
Trade debtors 819,525 567,660
Amounts owed by group undertakings 853,001 1,045,082
Other debtors 26,452 33,470
1,698,978 1,646,212

6. Creditors: amounts falling due within one year
31.7.23 31.7.22
£ £
Bank loans and overdrafts 49,219 41,622
Hire purchase contracts 1,325,468 1,040,720
Trade creditors 191,951 128,924
Taxation and social security 178,467 36,833
Other creditors 649,596 487,084
2,394,701 1,735,183

7. Creditors: amounts falling due after more than one year
31.7.23 31.7.22
£ £
Bank loans 79,636 136,453

Roffes Transport Limited (Registered number: 01303593)

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 128,855 178,075