Registered number
01035492
Adam, Rouilly Limited
Unaudited Filleted Accounts
31 December 2023
Adam, Rouilly Limited
Registered number: 01035492
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 784,465 714,470
Current assets
Stocks 470,307 505,973
Debtors 4 456,484 552,500
Cash at bank and in hand 3,280,569 3,302,506
4,207,360 4,360,979
Creditors: amounts falling due within one year 5 (527,480) (617,727)
Net current assets 3,679,880 3,743,252
Total assets less current liabilities 4,464,345 4,457,722
Deferred taxation (59,590) (45,418)
Net assets 4,404,755 4,412,304
Capital and reserves
Called up share capital 98,900 98,900
Profit and loss account 4,305,855 4,313,404
Shareholders' funds 4,404,755 4,412,304
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.
M Whitebread
Director
Approved by the board on 5 September 2024
Adam, Rouilly Limited
Notes to the Accounts
for the year ended 31 December 2023
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 is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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:
Freehold buildings 4% on cost
Plant and equipment 10% - 33% on cost
Motor vehicles 25% on cost
Inventories
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Government grants
Grants are accounted for under the performance model as permitted by FRS 102. A grant is recognised in the profit and loss account as "other operating income", provided that if the terms of the grant impose performance related conditions, those conditions have been met.
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.
Research and Development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 29 25
3 Tangible fixed assets
Freehold Building Assets Under Construction Plant and Equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 January 2023 1,347,176 613,722 74,603 2,035,501
Additions 7,000 62,921 12,834 92,894 175,649
At 31 December 2023 1,354,176 62,921 626,556 167,497 2,211,150
Depreciation
At 1 January 2023 879,200 - 394,699 47,132 1,321,031
Charge for the year 49,482 - 38,454 17,718 105,654
At 31 December 2023 928,682 - 433,153 64,850 1,426,685
Net book value
At 31 December 2023 425,494 62,921 193,403 102,647 784,465
At 31 December 2022 467,976 - 219,023 27,471 714,470
4 Debtors 2023 2022
£ £
Trade debtors 291,173 485,587
Prepayments 43,696 32,144
Value added tax 18,208 9,115
Corporation Tax 27,101 5,585
Other debtors 76,306 20,069
456,484 552,500
Amounts due after more than one year included above 55,574 11,969
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 182,516 146,662
Accruals 113,299 134,405
Corporation tax 131,671 231,441
Other taxes and social security costs 99,994 105,219
527,480 617,727
6 Pension commitments
The company contributes to defined contribution pension schemes on behalf of its directors and certain employees. The assets of these schemes are held separately from those of the company in independently administered funds. The contributions paid for the year amounted to £48,428 (2022: £44,957)
7 Related party transactions
As at 31 December 2023, the company had advanced £73,775 to a shareholder (2022: £15,753).
8 Controlling party
The company is controlled by MAJ Whitebread and his family by virtue of their beneficial and non beneficial (as trustees) shareholdings in the issued ordinary shares of the company
9 Other information
Adam, Rouilly Limited is a private company limited by shares and incorporated in England. Its registered office is:
Castle Road
Eurolink Business Park
Sittingbourne
Kent
ME10 3AG
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