3 false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 5942919 2023-04-01 2024-03-31 5942919 2024-03-31 5942919 2023-03-31 5942919 2022-04-01 2023-03-31 5942919 2023-03-31 5942919 core:PlantMachinery 2023-04-01 2024-03-31 5942919 core:MotorVehicles 2023-04-01 2024-03-31 5942919 bus:Director1 2023-04-01 2024-03-31 5942919 core:PlantMachinery 2023-03-31 5942919 core:MotorVehicles 2023-03-31 5942919 core:PlantMachinery 2024-03-31 5942919 core:MotorVehicles 2024-03-31 5942919 core:AfterOneYear 2024-03-31 5942919 core:AfterOneYear 2023-03-31 5942919 core:WithinOneYear 2024-03-31 5942919 core:WithinOneYear 2023-03-31 5942919 core:ShareCapital 2024-03-31 5942919 core:ShareCapital 2023-03-31 5942919 core:RetainedEarningsAccumulatedLosses 2024-03-31 5942919 core:RetainedEarningsAccumulatedLosses 2023-03-31 5942919 core:PlantMachinery 2023-03-31 5942919 core:MotorVehicles 2023-03-31 5942919 bus:SmallEntities 2023-04-01 2024-03-31 5942919 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 5942919 bus:FullAccounts 2023-04-01 2024-03-31 5942919 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 5942919 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 5942919
Roden and Son Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
Roden and Son Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
13,650
16,680
Current assets
Stock and work in progress
26,850
38,167
Debtors
6
19,138
24,000
Cash at bank and in hand
8,801
12,836
--------
--------
54,789
75,003
Creditors: amounts falling due within one year
7
42,637
60,066
--------
--------
Net current assets
12,152
14,937
--------
--------
Total assets less current liabilities
25,802
31,617
Creditors: amounts falling due after more than one year
8
( 6,979)
( 9,960)
Provisions
Taxation including deferred tax
2,437
2,978
--------
--------
Net assets
16,386
18,679
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
16,286
18,579
--------
--------
Shareholders funds
16,386
18,679
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Roden and Son Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 13 September 2024 , and are signed on behalf of the board by:
Mr N Ll Roden
Director
Company registration number: 5942919
Roden and Son Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ynys Fechan Farm, Arthog, Gwynedd, UK, LL39 1YT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from construction and building services is recognised when it can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Taxation Taxation represents the sum of tax currently payable and deferred tax. 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 all 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. 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. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery - 15% reducing balance
Motor Vehicles - 25% reducing balance
Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stock and work in progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
33,063
19,136
52,199
--------
--------
--------
Depreciation
At 1 April 2023
21,843
13,676
35,519
Charge for the year
1,670
1,360
3,030
--------
--------
--------
At 31 March 2024
23,513
15,036
38,549
--------
--------
--------
Carrying amount
At 31 March 2024
9,550
4,100
13,650
--------
--------
--------
At 31 March 2023
11,220
5,460
16,680
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
19,138
24,000
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
28,121
34,242
Corporation tax
3,552
14,360
Social security and other taxes
7,512
1,540
Other creditors
3,452
9,924
--------
--------
42,637
60,066
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
6,979
9,960
-------
-------
9. Directors' advances, credits and guarantees
There are no director's advances, credits or guarantees disclosed in the accounts.