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Registration number: 06121390

Rollestone Instrument Engineering Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Rollestone Instrument Engineering Limited

Contents

Company Information

1

Statement of Directors' Responsibilities

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5 to 6

Notes to the Unaudited Financial Statements

7 to 12

 

Rollestone Instrument Engineering Limited

Company Information

Directors

Mrs A Ley

Mr K Ley

Company secretary

Mrs A Ley

Registered office

158 Rollestone Road
Holbury
Southampton
Hampshire
SO45 2HA

Accountants

Numeric Accounting
Chartered Certified Accountants
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Rollestone Instrument Engineering Limited

Statement of Directors' Responsibilities

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and 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 directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Rollestone Instrument Engineering Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rollestone Instrument Engineering Limited for the year ended 31 March 2024 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/
standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Rollestone Instrument Engineering Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Rollestone Instrument Engineering Limited and state those matters that we have agreed to state to the Board of Directors of Rollestone Instrument Engineering Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-
activities/technical-resources-search/2009/october/factsheet-163-audit-exempt-companies.html.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rollestone Instrument Engineering Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Rollestone Instrument Engineering Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Rollestone Instrument Engineering Limited. You consider that Rollestone Instrument Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Rollestone Instrument Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Numeric Accounting
Chartered Certified Accountants
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

18 November 2024

 

Rollestone Instrument Engineering Limited

Profit and Loss Account for the Year Ended 31 March 2024

Note

2024
£

2023
£

Turnover

 

143,733

100,667

Cost of sales

 

(30,834)

(4,142)

Gross profit

 

112,899

96,525

Administrative expenses

 

(89,745)

(98,384)

Operating profit/(loss)

 

23,154

(1,859)

Profit/(loss) before tax

4

23,154

(1,859)

Tax on profit/(loss)

 

(3,984)

67

Profit/(loss) for the financial year

 

19,170

(1,792)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Rollestone Instrument Engineering Limited

(Registration number: 06121390)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

6,529

8,071

Current assets

 

Debtors

6

15,909

11,399

Cash at bank and in hand

 

22,052

11,594

 

37,961

22,993

Creditors: Amounts falling due within one year

7

(25,120)

(29,372)

Net current assets/(liabilities)

 

12,841

(6,379)

Total assets less current liabilities

 

19,370

1,692

Provisions for liabilities

(1,241)

(1,533)

Net assets

 

18,129

159

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

18,127

157

Shareholders' funds

 

18,129

159

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 November 2024 and signed on its behalf by:
 

 

Rollestone Instrument Engineering Limited

(Registration number: 06121390)
Balance Sheet as at 31 March 2024 (continued)

.........................................
Mr K Ley
Director

 

Rollestone Instrument Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
158 Rollestone Road
Holbury
Southampton
Hampshire
SO45 2HA

These financial statements were authorised for issue by the Board on 18 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is £ sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Rollestone Instrument Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing Balance

Fixtures and Fittings

25% Straight Line

Computer Equipment

33% Straight Line

Plant and Machinery

25% Reducing Balance

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Rollestone Instrument Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.



 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

2,075

2,631

 

Rollestone Instrument Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

1,170

2,042

226

34,792

38,230

Additions

534

-

-

-

534

At 31 March 2024

1,704

2,042

226

34,792

38,764

Depreciation

At 1 April 2023

951

383

226

28,599

30,159

Charge for the year

112

415

-

1,549

2,076

At 31 March 2024

1,063

798

226

30,148

32,235

Carrying amount

At 31 March 2024

641

1,244

-

4,644

6,529

At 31 March 2023

219

1,659

-

6,193

8,071

6

Debtors

2024
£

2023
£

Trade debtors

15,909

11,399

15,909

11,399

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

6,607

5,498

Other creditors

18,513

23,874

25,120

29,372

 

Rollestone Instrument Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

Ordinary A of £1 each

1

1

1

1

2

2

2

2

9

Dividends

2024

2023

£

£

Interim dividend of £600.00 (2023 - £500.00) per ordinary share

1,200

1,000

 

 

10

Related party transactions

The loan from the director is interest free and repayable on demand.

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Other payments made to company by director
£

At 31 March 2024
£

Mr K Ley

Mr K Ley - Director's Loan

23,873

(18,873)

13,512

18,512

 

Rollestone Instrument Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

10

Related party transactions (continued)

2023

At 1 April 2022
£

Advances to director
£

Other payments made to company by director
£

At 31 March 2023
£

Mr K Ley

Mr K Ley - Director's Loan

40,573

(30,000)

13,300

23,873

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,000

12,000

Contributions paid to money purchase schemes

70,000

74,000

82,000

86,000

Dividends paid to directors

2024
£

2023
£

Mr K Ley

600

500

 

 

Mrs A Ley

600

500