REGISTERED NUMBER: 11025199 (England and Wales) |
REPORT OF THE DIRECTOR AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ROLLTEK HOLDINGS LIMITED |
REGISTERED NUMBER: 11025199 (England and Wales) |
REPORT OF THE DIRECTOR AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ROLLTEK HOLDINGS LIMITED |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Report of the Independent Auditors | 3 |
Consolidated Income Statement | 6 |
Consolidated Other Comprehensive Income | 7 |
Consolidated Balance Sheet | 8 |
Company Balance Sheet | 9 |
Consolidated Statement of Changes in Equity | 10 |
Company Statement of Changes in Equity | 11 |
Consolidated Cash Flow Statement | 12 |
Notes to the Consolidated Cash Flow Statement | 13 |
Notes to the Consolidated Financial Statements | 15 |
ROLLTEK HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
161 Newhall Street |
Birmingham |
B3 1SW |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
REPORT OF THE DIRECTOR |
FOR THE YEAR ENDED 31 MARCH 2024 |
The director presents his report with the financial statements of the company and the group for the year ended 31 March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the group in the year under review was that of |
DIVIDENDS |
The total distribution of dividends for the year ended 31 March 2024 will be £40,000 (2023: £34,848). |
DIRECTORS |
The directors who have held office during the period from 1 April 2023 to the date of this report are as follows: |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations. |
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ROLLTEK HOLDINGS LIMITED |
Opinion |
We have audited the financial statements of Rolltek Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
_ |
In our opinion the financial statements: |
- | give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2024 and of the group's profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report. |
Other information |
The director is responsible for the other information. The other information comprises the information in the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Director has been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ROLLTEK HOLDINGS LIMITED |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Director. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the parent company financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of director's remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of director |
As explained more fully in the Statement of Director's Responsibilities set out on page two, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the industry sector; |
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; |
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; |
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ROLLTEK HOLDINGS LIMITED |
To address the risk of fraud through management bias and override of controls, we: |
- performed analytical procedures to identify any unusual or unexpected relationships; |
- tested journal entries to identify unusual transactions; |
- assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and |
- investigated the rationale behind significant or unusual transactions. |
se to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
- agreeing financial statement disclosures to underlying supporting documentation; |
- enquiring of management as to actual and potential litigation and claims; and |
- reviewing correspondence with HMRC and other relevant parties. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
Statutory Auditor |
161 Newhall Street |
Birmingham |
B3 1SW |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
CONSOLIDATED INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
TURNOVER | 5,324,725 | 4,814,257 |
Cost of sales | 3,904,384 | 3,794,583 |
GROSS PROFIT | 1,420,341 | 1,019,674 |
Distribution costs | 6,390 | 6,240 |
Administrative expenses | 1,249,563 | 1,044,575 |
1,255,953 | 1,050,815 |
OPERATING PROFIT/(LOSS) | 4 | 164,388 | (31,141 | ) |
Interest receivable and similar income | 5,689 | 108 |
170,077 | (31,033 | ) |
Interest payable and similar expenses | 6 | 14,000 | 11,600 |
PROFIT/(LOSS) BEFORE TAXATION | 156,077 | (42,633 | ) |
Tax on profit/(loss) | 7 | 126,684 | 57,177 |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
Profit/(loss) attributable to: |
Owners of the parent | 29,393 | (99,810 | ) |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
CONSOLIDATED OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
PROFIT/(LOSS) FOR THE YEAR | 29,393 | (99,810 | ) |
OTHER COMPREHENSIVE INCOME |
Share options exercised | (105 | ) | - |
Income tax relating to other comprehensive income |
- |
- |
OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
(105 |
) |
- |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
29,288 |
(99,810 |
) |
Total comprehensive income attributable to: |
Owners of the parent | 29,288 | (99,810 | ) |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
CONSOLIDATED BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 10 | 1,278,678 | 1,627,408 |
Tangible assets | 11 | 85,812 | 137,171 |
Investments | 12 | - | - |
1,364,490 | 1,764,579 |
CURRENT ASSETS |
Stocks | 13 | 398,099 | 637,286 |
Debtors | 14 | 1,170,228 | 784,609 |
Cash at bank | 37,201 | 100,823 |
1,605,528 | 1,522,718 |
CREDITORS |
Amounts falling due within one year | 15 | 1,288,986 | 1,633,961 |
NET CURRENT ASSETS/(LIABILITIES) | 316,542 | (111,243 | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
1,681,032 |
1,653,336 |
CREDITORS |
Amounts falling due after more than one year |
16 |
- |
(30,446 |
) |
PROVISIONS FOR LIABILITIES | 19 | (21,037 | ) | (34,066 | ) |
NET ASSETS | 1,659,995 | 1,588,824 |
CAPITAL AND RESERVES |
Called up share capital | 20 | 1,015,188 | 1,015,056 |
Other reserves | 21 | 105 | 105 |
Retained earnings | 21 | 644,702 | 573,663 |
SHAREHOLDERS' FUNDS | 1,659,995 | 1,588,824 |
The financial statements were approved by the director and authorised for issue on 19 September 2024 and were signed by: |
D M Rolland - Director |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
COMPANY BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 10 |
Tangible assets | 11 |
Investments | 12 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 15 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 20 |
Other reserves | 21 |
Retained earnings | 21 |
SHAREHOLDERS' FUNDS |
Company's (loss)/profit for the financial year |
(1,289,864 |
) |
237,460 |
The financial statements were approved by the director and authorised for issue on |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 31 MARCH 2024 |
Called up |
share | Retained | Other | Total |
capital | earnings | reserves | equity |
£ | £ | £ | £ |
Balance at 1 April 2022 | 1,015,056 | 708,321 | 105 | 1,723,482 |
Changes in equity |
Dividends | - | (34,848 | ) | - | (34,848 | ) |
Total comprehensive income | - | (99,810 | ) | - | (99,810 | ) |
Balance at 31 March 2023 | 1,015,056 | 573,663 | 105 | 1,588,824 |
Changes in equity |
Issue of share capital | 132 | - | - | 132 |
Dividends | - | (40,000 | ) | - | (40,000 | ) |
Total comprehensive income | - | 111,039 | - | 111,039 |
Balance at 31 March 2024 | 1,015,188 | 644,702 | 105 | 1,659,995 |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
COMPANY STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 31 MARCH 2024 |
Called up |
share | Retained | Other | Total |
capital | earnings | reserves | equity |
£ | £ | £ | £ |
Balance at 1 April 2022 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 31 March 2023 |
Changes in equity |
Issue of share capital | - | - |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - | ( |
) | ( |
) | ( |
) |
Balance at 31 March 2024 |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
CONSOLIDATED CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 505,438 | 46,827 |
Interest paid | (5,286 | ) | (5,102 | ) |
Interest element of hire purchase payments paid |
(2,503 |
) |
(1,982 |
) |
Finance costs paid | (6,211 | ) | (4,516 | ) |
Tax paid | (101,858 | ) | (88,687 | ) |
Net cash from operating activities | 389,580 | (53,460 | ) |
Cash flows from investing activities |
Purchase of tangible fixed assets | (1,663 | ) | (3,117 | ) |
Sale of tangible fixed assets | 20,098 | - |
Interest received | 5,688 | 108 |
Net cash from investing activities | 24,123 | (3,009 | ) |
Cash flows from financing activities |
Loan repayments in year | - | (63,619 | ) |
Capital repayments in year | (35,615 | ) | (9,215 | ) |
Amount withdrawn by directors | (466,934 | ) | (246,737 | ) |
Share issue | 132 | - |
Equity dividends paid | (40,000 | ) | (34,848 | ) |
Net cash from financing activities | (542,417 | ) | (354,419 | ) |
Decrease in cash and cash equivalents | (128,714 | ) | (410,888 | ) |
Cash and cash equivalents at beginning of year |
2 |
100,823 |
511,711 |
Cash and cash equivalents at end of year |
2 |
(27,891 |
) |
100,823 |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2024 | 2023 |
£ | £ |
Profit/(loss) before taxation | 156,077 | (42,633 | ) |
Depreciation charges | 372,607 | 379,071 |
Loss on disposal of fixed assets | 9,048 | - |
Exceptional costs relating to EMI option | 81,646 | - |
Finance costs | 14,000 | 11,600 |
Finance income | (5,689 | ) | (108 | ) |
627,689 | 347,930 |
Decrease in stocks | 239,187 | 158,697 |
Increase in trade and other debtors | (385,619 | ) | (42,177 | ) |
Increase/(decrease) in trade and other creditors | 24,181 | (417,623 | ) |
Cash generated from operations | 505,438 | 46,827 |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 31 March 2024 |
31.3.24 | 1.4.23 |
£ | £ |
Cash and cash equivalents | 37,201 | 100,823 |
Bank overdrafts | (65,092 | ) | - |
(27,891 | ) | 100,823 |
Year ended 31 March 2023 |
31.3.23 | 1.4.22 |
£ | £ |
Cash and cash equivalents | 100,823 | 511,711 |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
3. | ANALYSIS OF CHANGES IN NET FUNDS/(DEBT) |
At 1.4.23 | Cash flow | At 31.3.24 |
£ | £ | £ |
Net cash |
Cash at bank | 100,823 | (63,622 | ) | 37,201 |
Bank overdrafts | - | (65,092 | ) | (65,092 | ) |
100,823 | (128,714 | ) | (27,891 | ) |
Debt |
Finance leases | (35,615 | ) | 35,615 | - |
(35,615 | ) | 35,615 | - |
Total | 65,208 | (93,099 | ) | (27,891 | ) |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Rolltek Holdings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
£ | £ |
Wages and salaries | 361,456 | 295,647 |
Social security costs | 35,056 | 26,099 |
Other pension costs | 21,665 | 29,780 |
418,177 | 351,526 |
The average number of employees during the year was as follows: |
2024 | 2023 |
Staff |
2024 | 2023 |
£ | £ |
Directors' remuneration | 51,500 | 170,872 |
Directors' pension contributions to money purchase schemes | - | 24,025 |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | OPERATING PROFIT/(LOSS) |
The operating profit (2023 - operating loss) is stated after charging: |
2024 | 2023 |
£ | £ |
Hire of plant and machinery | 6,390 | 6,240 |
Other operating leases | 82,416 | 77,335 |
Depreciation - owned assets | 16,054 | 18,963 |
Depreciation - assets on hire purchase contracts | 7,822 | 11,379 |
Loss on disposal of fixed assets | 9,048 | - |
Goodwill amortisation | 348,730 | 348,730 |
Auditors' remuneration | 12,377 | 10,860 |
5. | EXCEPTIONAL ITEMS |
Included within exceptional costs for Rolltek Holdings is an £81,645.78 deduction as a result of an EMI Share Option being exercised in the 2024 financial period. |
6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2024 | 2023 |
£ | £ |
Bank interest | 5,286 | 4,714 |
Bank loan interest | - | 388 |
Hire purchase | 2,503 | 1,982 |
Interest payable to HMRC | 6,211 | 4,516 |
14,000 | 11,600 |
7. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Current tax: |
UK corporation tax | 139,713 | 63,933 |
Deferred tax | (13,029 | ) | (6,756 | ) |
Tax on profit/(loss) | 126,684 | 57,177 |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | TAXATION - continued |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
2024 | 2023 |
£ | £ |
Profit/(loss) before tax | 156,077 | (42,633 | ) |
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 19 %) |
39,019 |
(8,100 |
) |
Effects of: |
Expenses not deductible for tax purposes | 835 | 818 |
Depreciation in excess of capital allowances | 86,830 | 64,459 |
Total tax charge | 126,684 | 57,177 |
Tax effects relating to effects of other comprehensive income |
2024 |
Gross | Tax | Net |
£ | £ | £ |
Share options exercised | (105 | ) | - | (105 | ) |
8. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
9. | DIVIDENDS |
2024 | 2023 |
£ | £ |
Ordinary A shares of £1 each |
Interim | - | 4,000 |
Ordinary C shares of £1 each |
Interim | 40,000 | 30,848 |
40,000 | 34,848 |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
10. | INTANGIBLE FIXED ASSETS |
Group |
Goodwill |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 | 3,487,303 |
AMORTISATION |
At 1 April 2023 | 1,859,895 |
Amortisation for year | 348,730 |
At 31 March 2024 | 2,208,625 |
NET BOOK VALUE |
At 31 March 2024 | 1,278,678 |
At 31 March 2023 | 1,627,408 |
11. | TANGIBLE FIXED ASSETS |
Group |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2023 | 271,879 | 7,470 | 57,490 | 12,170 | 349,009 |
Additions | - | - | - | 1,663 | 1,663 |
Disposals | (2,092 | ) | (2,085 | ) | (57,490 | ) | (7,831 | ) | (69,498 | ) |
At 31 March 2024 | 269,787 | 5,385 | - | 6,002 | 281,174 |
DEPRECIATION |
At 1 April 2023 | 173,727 | 3,892 | 23,356 | 10,863 | 211,838 |
Charge for year | 14,661 | 794 | 7,822 | 599 | 23,876 |
Eliminated on disposal | (632 | ) | (779 | ) | (31,178 | ) | (7,763 | ) | (40,352 | ) |
At 31 March 2024 | 187,756 | 3,907 | - | 3,699 | 195,362 |
NET BOOK VALUE |
At 31 March 2024 | 82,031 | 1,478 | - | 2,303 | 85,812 |
At 31 March 2023 | 98,152 | 3,578 | 34,134 | 1,307 | 137,171 |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
11. | TANGIBLE FIXED ASSETS - continued |
Group |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 April 2023 | 57,490 |
Disposals | (57,490 | ) |
At 31 March 2024 | - |
DEPRECIATION |
At 1 April 2023 | 23,356 |
Charge for year | 7,822 |
Eliminated on disposal | (31,178 | ) |
At 31 March 2024 | - |
NET BOOK VALUE |
At 31 March 2024 | - |
At 31 March 2023 | 34,134 |
12. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2023 |
Disposals | ( |
) |
Impairments | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
13. | STOCKS |
Group |
2024 | 2023 |
£ | £ |
Stocks | 398,099 | 637,286 |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group |
2024 | 2023 |
£ | £ |
Trade debtors | 1,164,083 | 716,605 |
Other debtors | - | 1,609 |
Prepayments and accrued income | 6,145 | 66,395 |
1,170,228 | 784,609 |
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2024 | 2023 | 2024 | 2023 |
£ | £ | £ | £ |
Bank loans and overdrafts (see note 17) | 65,092 | - |
Hire purchase contracts (see note 18) | - | 8,498 |
Trade creditors | 670,338 | 552,359 |
Amounts owed to group undertakings | - | - |
Tax | 209,310 | 168,126 |
Social security and other taxes | 32,087 | 8,345 |
VAT | 107,158 | 57,010 | - | - |
Other creditors | 2,523 | 32,695 |
Directors' current accounts | - | 466,934 | - | 466,934 |
Accrued expenses | 202,478 | 339,994 |
1,288,986 | 1,633,961 |
16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group |
2024 | 2023 |
£ | £ |
Hire purchase contracts (see note 18) | - | 27,117 |
Tax | - | 3,329 |
- | 30,446 |
17. | LOANS |
An analysis of the maturity of loans is given below: |
Group |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or | on demand: |
Bank overdrafts | 65,092 | - |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
18. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Group |
Hire purchase | contracts |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year | - | 8,498 |
Between one and five years | - | 27,117 |
- | 35,615 |
19. | PROVISIONS FOR LIABILITIES |
Group |
2024 | 2023 |
£ | £ |
Deferred tax | 21,037 | 34,066 |
Group |
Deferred |
tax |
£ |
Balance at 1 April 2023 | 34,066 |
Provided during year | (13,029 | ) |
Balance at 31 March 2024 | 21,037 |
20. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
260 | A Ordinary Shares | £1.00 | 260 | 260 |
690 | B Ordinary Shares | £1.00 | 690 | 690 |
238 (2023: 106) | C Ordinary Shares | £1.00 | 238 | 106 |
1,014,000 | Preference Shares | £1.00 | 1,014,000 | 1,014,000 |
1,015,188 | 1,015,056 |
The company has four classes of shares, A, B and C Ordinary shares and Preference Shares. A, B and C Ordinary shares have equal voting rights and rights to the surplus of assets on liquidation or wind up after paying par to the holders of the Preference Shares. Preference Shares have no entitlement to vote or receive dividends and are entitled to the payment of par in a liquidation or winding up ahead of any payment to other shareholders. All share classes are non redeemable. |
ROLLTEK HOLDINGS LIMITED (REGISTERED NUMBER: 11025199) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
21. | RESERVES |
Group |
Retained | Other |
earnings | reserves | Totals |
£ | £ | £ |
At 1 April 2023 | 573,663 | 105 | 573,768 |
Profit for the year | 29,393 | 29,393 |
Dividends | (40,000 | ) | (40,000 | ) |
Release of options exercised | 81,646 | - | 81,646 |
At 31 March 2024 | 644,702 | 105 | 644,807 |
Company |
Retained | Other |
earnings | reserves | Totals |
£ | £ | £ |
At 1 April 2023 | 1,983,680 |
Deficit for the year | ( |
) | ( |
) |
Dividends | ( |
) | ( |
) |
Release of options exercised | 81,646 | (105 | ) | 81,541 |
At 31 March 2024 | 735,357 |