Registered number
13258145
ROSSENDALE COLLABORATIVE LTD
Filleted Accounts
31 March 2024
ROSSENDALE COLLABORATIVE LTD
Registered number: 13258145
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 10,800 10,600
Tangible assets 4 11,009 10,232
21,809 20,832
Current assets
Debtors 5 19,241 -
Cash at bank and in hand 6,896 6,370
26,137 6,370
Creditors: amounts falling due within one year 6 (38,356) (14,520)
Net current liabilities (12,219) (8,150)
Total assets less current liabilities 9,590 12,682
Provisions for liabilities (2,752) (1,320)
Net assets 6,838 11,362
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,738 11,262
Shareholders' funds 6,838 11,362
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Palmer
Director
Approved by the board on 1 August 2024
ROSSENDALE COLLABORATIVE LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 15,000
Additions 4,000
At 31 March 2024 19,000
Amortisation
At 1 April 2023 4,400
Provided during the year 3,800
At 31 March 2024 8,200
Net book value
At 31 March 2024 10,800
At 31 March 2023 10,600
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 15,142
Additions 4,988
At 31 March 2024 20,130
Depreciation
At 1 April 2023 4,910
Charge for the year 4,211
At 31 March 2024 9,121
Net book value
At 31 March 2024 11,009
At 31 March 2023 10,232
5 Debtors 2024 2023
£ £
Trade debtors 19,241 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 6,265 -
Taxation and social security costs 31,278 13,706
Other creditors 813 814
38,356 14,520
7 Controlling party
The company is controlled equally by Mr and Mrs Palmer by way of each of them holding 50% of the issued share capital.
8 Other information
ROSSENDALE COLLABORATIVE LTD is a private company limited by shares and incorporated in England. Its registered office is:
225b Bacup Road
Rawtenstall
Lancs
BB4 7PA
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