Acorah Software Products - Accounts Production 14.6.300 false true 31 December 2022 1 January 2022 true 1 January 2023 31 December 2023 31 December 2023 SC279844 Mrs. O Dalli Mr I Sosnin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC279844 2022-12-31 SC279844 2023-12-31 SC279844 2023-01-01 2023-12-31 SC279844 frs-core:CurrentFinancialInstruments 2023-12-31 SC279844 frs-core:Non-currentFinancialInstruments 2023-12-31 SC279844 frs-core:ShareCapital 2023-12-31 SC279844 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC279844 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC279844 frs-bus:FullAccounts 2023-01-01 2023-12-31 SC279844 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC279844 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC279844 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC279844 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-01-01 2023-12-31 SC279844 frs-bus:Director1 2023-01-01 2023-12-31 SC279844 frs-bus:Director2 2023-01-01 2023-12-31 SC279844 frs-core:Non-currentFinancialInstruments 1 2023-12-31 SC279844 frs-countries:Scotland 2023-01-01 2023-12-31 SC279844 2021-12-31 SC279844 2022-12-31 SC279844 2022-01-01 2022-12-31 SC279844 frs-core:CurrentFinancialInstruments 2022-12-31 SC279844 frs-core:Non-currentFinancialInstruments 2022-12-31 SC279844 frs-core:ShareCapital 2022-12-31 SC279844 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 SC279844 frs-core:Non-currentFinancialInstruments 1 2022-12-31
Registered number: SC279844
Rolling Trade Ltd.
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Company Information 1
Directors' Report 2
Profit and Loss Account 3
Balance Sheet 4
Notes to the Financial Statements 5—6
Page 1
Company Information
Directors Mrs. O Dalli
Mr I Sosnin
Company Number SC279844
Registered Office Unit 2 Merryfield Business Centre
Macmerry Industrial Estate
Tranent
EH33 1ET
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2023.
Principal Activity
The company's principal activity continues to be that of other non-ferrous metal ores.
Directors
The directors who held office during the year were as follows:
Mrs. O Dalli
Mr I Sosnin
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has 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.
On behalf of the board
Mrs. O Dalli
Director
26/07/2024
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Page 3
Profit and Loss Account
2023 2022
Notes £ £
TURNOVER 803,365 2,244,628
Cost of sales (741,801 ) (2,201,826 )
GROSS PROFIT 61,564 42,802
Administrative expenses (54,507 ) (40,463 )
OPERATING PROFIT 7,057 2,339
Interest payable and similar charges (4,755 ) (4,989 )
PROFIT/(LOSS) BEFORE TAXATION 2,302 (2,650 )
Tax on Profit/(loss) - (1,178 )
PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR 2,302 (3,828 )
The notes on pages 5 to 6 form part of these financial statements.
Page 3
Page 4
Balance Sheet
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 2,809,330 2,864,927
Cash at bank and in hand 277,464 181,534
3,086,794 3,046,461
Creditors: Amounts Falling Due Within One Year 5 (178,209 ) (174,772 )
NET CURRENT ASSETS (LIABILITIES) 2,908,585 2,871,689
TOTAL ASSETS LESS CURRENT LIABILITIES 2,908,585 2,871,689
Creditors: Amounts Falling Due After More Than One Year 6 (2,521,445 ) (2,486,851 )
NET ASSETS 387,140 384,838
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 387,139 384,837
SHAREHOLDERS' FUNDS 387,140 384,838
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mrs. O Dalli
Director
26/07/2024
The notes on pages 5 to 6 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Rolling Trade Ltd. is a private company, limited by shares, incorporated in Scotland, registered number SC279844 . The registered office is Unit 2 Merryfield Business Centre, Macmerry Industrial Estate, Tranent, EH33 1ET.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. 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.
Deferred tax is recognised on 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
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4. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 16,994 5,335
Other debtors 2,792,336 2,859,592
2,809,330 2,864,927
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax - 1,178
Other creditors 178,209 173,594
178,209 174,772
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 1,703,276 1,673,823
Loans 813,067 809,204
Accruals and deferred income 5,102 3,824
2,521,445 2,486,851
Loans represent:
i) £813,067 interest free loan is due to Ravenden Invest Ltd, a company registered in Belize, payable on request.
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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