Company Registration No. 04725217 (England and Wales)
Rolling Center Limited
Unaudited accounts
for the year ended 31 March 2024
Rolling Center Limited
Unaudited accounts
Contents
Rolling Center Limited
Statement of financial position
as at 31 March 2024
Tangible assets
169,218
234,159
Inventories
817,053
891,324
Cash at bank and in hand
2,081,014
1,568,240
Creditors: amounts falling due within one year
(1,853,463)
(1,899,716)
Net current assets
1,987,762
1,560,864
Total assets less current liabilities
2,207,480
1,845,523
Creditors: amounts falling due after more than one year
-
(41,158)
Provisions for liabilities
Deferred tax
(21,695)
(35,686)
Net assets
2,185,785
1,768,679
Called up share capital
1,205
1,205
Profit and loss account
2,184,580
1,767,474
Shareholders' funds
2,185,785
1,768,679
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2024 and were signed on its behalf by
Simon Smith
Director
Company Registration No. 04725217
Rolling Center Limited
Notes to the Accounts
for the year ended 31 March 2024
Rolling Center Limited is a private company, limited by shares, registered in England and Wales, registration number 04725217. The registered office is Unit 6, Whitehall Cross, Leeds, LS12 5XE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Straight Line
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Computer equipment
33% Straight Line
Expenditure on research and development is written off in the year in which it is incurred.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 accounts. 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.
Rolling Center Limited
Notes to the Accounts
for the year ended 31 March 2024
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2023
81,959
340,266
422,225
Additions
-
141,380
141,380
Disposals
-
(207,000)
(207,000)
At 31 March 2024
81,959
274,646
356,605
At 1 April 2023
34,088
153,978
188,066
Charge for the year
8,196
22,515
30,711
On disposals
-
(31,390)
(31,390)
At 31 March 2024
42,284
145,103
187,387
At 31 March 2024
39,675
129,543
169,218
At 31 March 2023
47,871
186,288
234,159
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
-
38,250
5
Investments
Other investments
Valuation at 1 April 2023
50,500
Valuation at 31 March 2024
50,500
Rolling Center Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Trade debtors
837,474
941,325
Other debtors
105,684
59,691
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Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
2,736
Trade creditors
1,259,631
1,396,027
Taxes and social security
512,587
419,924
Other creditors
81,245
81,029
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
41,158
9
Average number of employees
During the year the average number of employees was 16 (2023: 16).