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Registration number: 13774058

Roadside Business Solutions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Roadside Business Solutions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Roadside Business Solutions Limited

Company Information

Director

Mr R C Broccoli

Registered office

C/o BDK Accountants LTD
24 Scotts Road
Bromley
Kent
BR1 3QD

Accountants

BDK Accountants Ltd
24 Scotts Road
Bromley
Kent
BR1 3QD

 

Roadside Business Solutions Limited

(Registration number: 13774058)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed Assets

 

Intangible assets

4

6,000

9,000

Tangible Assets

5

103,582

123,710

 

109,582

132,710

Current assets

 

Debtors

6

9,499

16,767

Cash at bank and in hand

 

51,694

28,438

 

61,193

45,205

Creditors: Amounts falling due within one year

7

(193,581)

(208,164)

Net current liabilities

 

(132,388)

(162,959)

Net liabilities

 

(22,806)

(30,249)

Capital and Reserves

 

Called up share capital

8

300

300

Retained Earnings

(23,106)

(30,549)

Shareholders' deficit

 

(22,806)

(30,249)

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 August 2024
 

.........................................
Mr R C Broccoli
Director

 

Roadside Business Solutions Limited

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 and Wales.

The address of its registered office is:
C/o BDK Accountants LTD
24 Scotts Road
Bromley
Kent
BR1 3QD
England

The principal place of business is:
85 Charles Street
Greenhithe
Kent
DA9 9AN

These financial statements were authorised for issue by the director on 22 August 2024.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Roadside Business Solutions Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

Straight line at 20%

Office equipment

Straight line at 20%

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

Goodwill

over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Roadside Business Solutions Limited

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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Roadside Business Solutions Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2022

12,000

12,000

At 30 November 2023

12,000

12,000

Amortisation

At 1 December 2022

3,000

3,000

Amortisation charge

3,000

3,000

At 30 November 2023

6,000

6,000

Carrying amount

At 30 November 2023

6,000

6,000

At 30 November 2022

9,000

9,000

5

Tangible Assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2022

2,637

152,000

154,637

Additions

-

13,500

13,500

At 30 November 2023

2,637

165,500

168,137

Depreciation

At 1 December 2022

527

30,400

30,927

Charge for the year

528

33,100

33,628

At 30 November 2023

1,055

63,500

64,555

Carrying amount

At 30 November 2023

1,582

102,000

103,582

At 30 November 2022

2,110

121,600

123,710

6

Debtors

Current

2023
£

2022
£

Trade Debtors

9,499

16,767

 

Roadside Business Solutions Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

392

7,892

Trade Creditors

 

8,286

4,652

Taxation and social security

 

5,628

7,378

Accruals and deferred income

 

2,056

1,575

Other creditors

 

177,219

186,667

 

193,581

208,164

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

300

300

300

300

         

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

392

392

Other borrowings

-

7,500

392

7,892