Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mrs J E Graham 17/08/2014 Mr J B Graham 06/03/2014 31 May 2024 The principal activity of the company is the supply of landscape materials. 08925443 2024-03-31 08925443 bus:Director1 2024-03-31 08925443 bus:Director2 2024-03-31 08925443 2023-03-31 08925443 core:CurrentFinancialInstruments 2024-03-31 08925443 core:CurrentFinancialInstruments 2023-03-31 08925443 core:Non-currentFinancialInstruments 2024-03-31 08925443 core:Non-currentFinancialInstruments 2023-03-31 08925443 core:ShareCapital 2024-03-31 08925443 core:ShareCapital 2023-03-31 08925443 core:RetainedEarningsAccumulatedLosses 2024-03-31 08925443 core:RetainedEarningsAccumulatedLosses 2023-03-31 08925443 core:OtherPropertyPlantEquipment 2023-03-31 08925443 core:OtherPropertyPlantEquipment 2024-03-31 08925443 2023-04-01 2024-03-31 08925443 bus:FilletedAccounts 2023-04-01 2024-03-31 08925443 bus:SmallEntities 2023-04-01 2024-03-31 08925443 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08925443 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08925443 bus:Director1 2023-04-01 2024-03-31 08925443 bus:Director2 2023-04-01 2024-03-31 08925443 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 08925443 2022-04-01 2023-03-31 08925443 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 08925443 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 08925443 (England and Wales)

ROKAN LOGISTICS LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

ROKAN LOGISTICS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

ROKAN LOGISTICS LTD

BALANCE SHEET

As at 31 March 2024
ROKAN LOGISTICS LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 156,873 176,822
156,873 176,822
Current assets
Stocks 5 182,000 259,285
Debtors 6 81,159 78,939
Cash at bank and in hand 7 253,179 152,816
516,338 491,040
Creditors: amounts falling due within one year 8 ( 103,304) ( 111,764)
Net current assets 413,034 379,276
Total assets less current liabilities 569,907 556,098
Creditors: amounts falling due after more than one year 9 0 ( 38,884)
Provision for liabilities ( 29,806) 0
Net assets 540,101 517,214
Capital and reserves
Called-up share capital 10 10
Profit and loss account 540,091 517,204
Total shareholders' funds 540,101 517,214

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Rokan Logistics Ltd (registered number: 08925443) were approved and authorised for issue by the Board of Directors on 31 May 2024. They were signed on its behalf by:

Mrs J E Graham
Director
ROKAN LOGISTICS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
ROKAN LOGISTICS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rokan Logistics Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Carlyle House, 78 Chorley New Road, Bolton, BL1 4BY, United Kingdom. The principal place of business is The Kabins, Old Holts Farm Mews, Roading Brook Road, Harwood, Bolton, BL2 4JD.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 6.67 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 11 11

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 296,845 296,845
Additions 26,198 26,198
Disposals ( 11,617) ( 11,617)
At 31 March 2024 311,426 311,426
Accumulated depreciation
At 01 April 2023 120,023 120,023
Charge for the financial year 43,946 43,946
Disposals ( 9,416) ( 9,416)
At 31 March 2024 154,553 154,553
Net book value
At 31 March 2024 156,873 156,873
At 31 March 2023 176,822 176,822

5. Stocks

2024 2023
£ £
Stocks 182,000 259,285

6. Debtors

2024 2023
£ £
Trade debtors 46,215 72,503
Other debtors 34,944 6,436
81,159 78,939

7. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 253,179 152,816

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 35,914 50,572
Taxation and social security 60,274 54,425
Obligations under finance leases and hire purchase contracts 931 3,512
Other creditors 6,185 3,255
103,304 111,764

9. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 0 1,108
Other creditors 0 37,776
0 38,884

There are no amounts included above in respect of which any security has been given by the small entity.