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Registration number: 13033003

Ropes & Wire Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Ropes & Wire Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Ropes & Wire Ltd

Company Information

Directors

Benjamin Carne

David Carne

Registered office

The Boathouse
Commercial Road
Penryn
Cornwall
TR10 8AE

Accountants

Julia Evans Accountants Ltd
79-81 Boslowick Road
Falmouth
Cornwall
TR11 4QD

 

Ropes & Wire Ltd

(Registration number: 13033003)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

5,600

7,520

Current assets

 

Stocks

1,500

-

Debtors

5

665

664

Cash at bank and in hand

 

6,916

1,758

 

9,081

2,422

Creditors: Amounts falling due within one year

6

(12,358)

(11,692)

Net current liabilities

 

(3,277)

(9,270)

Net assets/(liabilities)

 

2,323

(1,750)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,223

(1,850)

Shareholders' funds/(deficit)

 

2,323

(1,750)

For the financial year ending 30 November 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.

 

Ropes & Wire Ltd

(Registration number: 13033003)
Balance Sheet as at 30 November 2023

Approved and authorised by the Board on 26 July 2024 and signed on its behalf by:
 

.........................................
Benjamin Carne
Director

 

Ropes & Wire Ltd

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

1

General information

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

The address of its registered office is:
The Boathouse
Commercial Road
Penryn
Cornwall
TR10 8AE
United Kingdom

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.The directors have agreed to continue to suuport the business for a minimum of 12 months from the date the accounts are approved.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of returns, rebates and discounts.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

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.

 

Ropes & Wire Ltd

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

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

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

Website

5 years straight line

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Ropes & Wire Ltd

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

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 December 2022

9,600

9,600

At 30 November 2023

9,600

9,600

Amortisation

At 1 December 2022

2,080

2,080

Amortisation charge

1,920

1,920

At 30 November 2023

4,000

4,000

Carrying amount

At 30 November 2023

5,600

5,600

At 30 November 2022

7,520

7,520

5

Debtors

2023
£

2022
£

Prepayments

523

480

Other debtors

142

184

665

664

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

253

120

Taxation and social security

705

-

Accruals and deferred income

600

540

Other creditors

10,800

11,032

12,358

11,692