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Company registration number: 05174243
ROTA DESIGN LIMITED
Unaudited filleted financial statements
31 July 2024
ROTA DESIGN LIMITED
Contents
Statement of financial position
Notes to the financial statements
ROTA DESIGN LIMITED
Statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 25,556 33,873
_______ _______
25,556 33,873
Current assets
Debtors 7 5,822 4,547
Cash at bank and in hand 16,079 25,710
_______ _______
21,901 30,257
Creditors: amounts falling due
within one year 8 ( 20,350) ( 25,346)
_______ _______
Net current assets 1,551 4,911
_______ _______
Total assets less current liabilities 27,107 38,784
Creditors: amounts falling due
after more than one year 9 ( 2,500) ( 5,500)
Provisions for liabilities 10 ( 7,201) ( 8,745)
Accruals and deferred income ( 970) ( 987)
_______ _______
Net assets 16,436 23,552
_______ _______
Capital and reserves
Called up share capital 12 2,000 2,000
Profit and loss account 14,436 21,552
_______ _______
Shareholders funds 16,436 23,552
_______ _______
For the year ending 31 July 2024 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 04 October 2024 , and are signed on behalf of the board by:
Mr Martin Carder
Director
Company registration number: 05174243
ROTA DESIGN LIMITED
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Rota Design Limited, The Media Centre, 7 Northumberland Street, Huddersfield, West Yorkshire, HD1 1RL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue 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.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 33 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are 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:
Tools and equipment - 25 % reducing balance
Office furniture, fixtures and fittings - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
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 in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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 in finance costs 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. Intangible assets
Goodwill Total
£ £
Cost
At 1 August 2023 and 31 July 2024 16,250 16,250
_______ _______
Amortisation
At 1 August 2023 and 31 July 2024 16,250 16,250
_______ _______
Carrying amount
At 31 July 2024 - -
_______ _______
At 31 July 2023 - -
_______ _______
6. Tangible assets
Plant and machinery Office furniture, fixtures and fittings Total
£ £ £
Cost
At 1 August 2023 151,874 4,333 156,207
Additions 201 - 201
_______ _______ _______
At 31 July 2024 152,075 4,333 156,408
_______ _______ _______
Depreciation
At 1 August 2023 118,535 3,799 122,334
Charge for the year 8,382 136 8,518
_______ _______ _______
At 31 July 2024 126,917 3,935 130,852
_______ _______ _______
Carrying amount
At 31 July 2024 25,158 398 25,556
_______ _______ _______
At 31 July 2023 33,339 534 33,873
_______ _______ _______
7. Debtors
2024 2023
£ £
Other debtors 5,822 4,547
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 5,203 6,325
Trade creditors 456 391
Corporation tax 8,363 8,857
Social security and other taxes 4,073 9,473
Other creditors 2,255 300
_______ _______
20,350 25,346
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 2,500 5,500
_______ _______
10. Provisions
Deferred tax (note 11) Total
£ £
At 1 August 2023 8,745 8,745
Charges against provisions ( 1,544) ( 1,544)
_______ _______
At 31 July 2024 7,201 7,201
_______ _______
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note 10) 7,201 8,745
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 7,201 8,745
_______ _______
12. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 1,000 1,000 1,000 1,000
B shares of £ 1.00 each 600 600 600 600
C shares of £ 1.00 each 400 400 400 400
_______ _______ _______ _______
2,000 2,000 2,000 2,000
_______ _______ _______ _______
13. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Martin Carder ( 22) 35,273 ( 35,300) ( 49)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Martin Carder ( 229) 39,207 ( 39,000) ( 22)
_______ _______ _______ _______