1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08718065 2023-07-01 2024-06-30 08718065 2024-06-30 08718065 2023-06-30 08718065 2022-07-01 2023-06-30 08718065 2023-06-30 08718065 2022-06-30 08718065 core:LandBuildings 2023-07-01 2024-06-30 08718065 core:MotorVehicles 2023-07-01 2024-06-30 08718065 bus:Director1 2023-07-01 2024-06-30 08718065 bus:Director2 2023-07-01 2024-06-30 08718065 core:WithinOneYear 2024-06-30 08718065 core:WithinOneYear 2023-06-30 08718065 core:LandBuildings 2023-06-30 08718065 core:MotorVehicles 2023-06-30 08718065 core:LandBuildings 2024-06-30 08718065 core:MotorVehicles 2024-06-30 08718065 core:AfterOneYear 2024-06-30 08718065 core:AfterOneYear 2023-06-30 08718065 core:ShareCapital 2024-06-30 08718065 core:ShareCapital 2023-06-30 08718065 core:RetainedEarningsAccumulatedLosses 2024-06-30 08718065 core:RetainedEarningsAccumulatedLosses 2023-06-30 08718065 core:LandBuildings 2023-06-30 08718065 core:MotorVehicles 2023-06-30 08718065 bus:Director1 2023-06-30 08718065 bus:Director1 2024-06-30 08718065 bus:Director2 2023-06-30 08718065 bus:Director2 2024-06-30 08718065 bus:Director1 2022-06-30 08718065 bus:Director1 2023-06-30 08718065 bus:Director2 2022-06-30 08718065 bus:Director2 2023-06-30 08718065 bus:Director1 2022-07-01 2023-06-30 08718065 bus:Director2 2022-07-01 2023-06-30 08718065 bus:SmallEntities 2023-07-01 2024-06-30 08718065 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08718065 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 08718065 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08718065 bus:FullAccounts 2023-07-01 2024-06-30 08718065 core:ComputerEquipment 2023-07-01 2024-06-30 08718065 core:ComputerEquipment 2023-06-30 08718065 core:ComputerEquipment 2024-06-30
COMPANY REGISTRATION NUMBER: 08718065
ROS TECHNOLOGY LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDING
30 June 2024
ROS TECHNOLOGY LTD
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
5
48,942
45,346
CURRENT ASSETS
Stocks
2,488
2,641
Debtors
6
28,449
23,605
Cash at bank and in hand
21,839
9,071
----------
----------
52,776
35,317
CREDITORS: amounts falling due within one year
7
63,054
25,170
----------
----------
NET CURRENT (LIABILITIES)/ASSETS
( 10,278)
10,147
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
38,664
55,493
CREDITORS: amounts falling due after more than one year
8
28,388
25,469
PROVISIONS
Taxation including deferred tax
443
----------
----------
NET ASSETS
10,276
29,581
----------
----------
ROS TECHNOLOGY LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
2024
2023
Note
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
10,176
29,481
----------
----------
SHAREHOLDERS FUNDS
10,276
29,581
----------
----------
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 income and retained earnings has not been delivered.
For the year ending 30th June 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 .
These financial statements were approved by the board of directors and authorised for issue on 26 November 2024 , and are signed on behalf of the board by:
Dr G P S Robinson
Director
Company registration number: 08718065
ROS TECHNOLOGY LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30th JUNE 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 Eskrigge Hall, Gressingham, Lancaster, LA2 8LX.
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, 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.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Office
-
10% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
33% straight line
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.
Stocks
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.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. TANGIBLE ASSETS
Land and buildings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1st July 2023
33,502
14,950
29,327
77,779
Additions
15,500
507
16,007
----------
----------
----------
----------
At 30th June 2024
33,502
30,450
29,834
93,786
----------
----------
----------
----------
Depreciation
At 1st July 2023
6,536
5,144
20,753
32,433
Charge for the year
2,697
6,326
3,388
12,411
----------
----------
----------
----------
At 30th June 2024
9,233
11,470
24,141
44,844
----------
----------
----------
----------
Carrying amount
At 30th June 2024
24,269
18,980
5,693
48,942
----------
----------
----------
----------
At 30th June 2023
26,966
9,806
8,574
45,346
----------
----------
----------
----------
6. DEBTORS
2024
2023
£
£
Trade debtors
13,363
12,077
Prepayments and accrued income
93
621
Corporation tax repayable
752
Directors loan account
14,993
4,958
Other debtors
5,197
----------
----------
28,449
23,605
----------
----------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
31,447
21,115
Accruals and deferred income
4,322
3,992
Corporation tax
24,851
Social security and other taxes
2,434
63
----------
----------
63,054
25,170
----------
----------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
28,388
25,469
----------
----------
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Dr G P S Robinson
2,439
5,017
7,456
Mrs D M Robinson
2,519
5,018
7,537
--------
----------
----------
4,958
10,035
14,993
--------
----------
----------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Dr G P S Robinson
5,185
( 2,747)
2,438
Mrs D M Robinson
5,266
( 2,746)
2,520
----------
--------
--------
10,451
( 5,493)
4,958
----------
--------
--------
10. RELATED PARTY TRANSACTIONS
The company was under the control of Dr G P S Robinson & Mrs D M Robinson throughout the current period. Dr G P S Robinson and Mrs D M Robinson each hold 50% of the shares. During the period the company paid dividends to Mr & Mrs Robinson of £102,500 (2023:£43,000). During the period the company loaned funds interest free to Dr G P S Robinson & Mrs D M Robinson. As at the balance sheet date £14,993 was owed by Dr G P S Robinson and Mrs D M Robinson (2023: £4,958 was owed by Dr G P S Robinson & Mrs D M Robinson)