Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-04-01false31Production of specialised machines for printing finishing shops.39truefalse 00374392 2023-04-01 2024-03-31 00374392 2022-04-01 2023-03-31 00374392 2024-03-31 00374392 2023-03-31 00374392 c:Director5 2023-04-01 2024-03-31 00374392 d:Buildings 2023-04-01 2024-03-31 00374392 d:Buildings 2024-03-31 00374392 d:Buildings 2023-03-31 00374392 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00374392 d:PlantMachinery 2023-04-01 2024-03-31 00374392 d:PlantMachinery 2024-03-31 00374392 d:PlantMachinery 2023-03-31 00374392 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00374392 d:MotorVehicles 2023-04-01 2024-03-31 00374392 d:MotorVehicles 2024-03-31 00374392 d:MotorVehicles 2023-03-31 00374392 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00374392 d:OfficeEquipment 2023-04-01 2024-03-31 00374392 d:OfficeEquipment 2024-03-31 00374392 d:OfficeEquipment 2023-03-31 00374392 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00374392 d:ComputerEquipment 2023-04-01 2024-03-31 00374392 d:ComputerEquipment 2024-03-31 00374392 d:ComputerEquipment 2023-03-31 00374392 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00374392 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00374392 d:CurrentFinancialInstruments 2024-03-31 00374392 d:CurrentFinancialInstruments 2023-03-31 00374392 d:Non-currentFinancialInstruments 2024-03-31 00374392 d:Non-currentFinancialInstruments 2023-03-31 00374392 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00374392 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00374392 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 00374392 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00374392 d:ShareCapital 2024-03-31 00374392 d:ShareCapital 2023-03-31 00374392 d:SharePremium 2024-03-31 00374392 d:SharePremium 2023-03-31 00374392 d:CapitalRedemptionReserve 2024-03-31 00374392 d:CapitalRedemptionReserve 2023-03-31 00374392 d:RetainedEarningsAccumulatedLosses 2024-03-31 00374392 d:RetainedEarningsAccumulatedLosses 2023-03-31 00374392 c:FRS102 2023-04-01 2024-03-31 00374392 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00374392 c:FullAccounts 2023-04-01 2024-03-31 00374392 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00374392 d:WithinOneYear 2024-03-31 00374392 d:WithinOneYear 2023-03-31 00374392 d:BetweenOneFiveYears 2024-03-31 00374392 d:BetweenOneFiveYears 2023-03-31 00374392 d:MoreThanFiveYears 2024-03-31 00374392 d:MoreThanFiveYears 2023-03-31 00374392 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 00374392 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 00374392 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 00374392 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 00374392 d:RetirementBenefitObligationsDeferredTax 2024-03-31 00374392 d:RetirementBenefitObligationsDeferredTax 2023-03-31 00374392 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 00374392 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 00374392 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 00374392










ROLLEM PATENT PRODUCTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
ROLLEM PATENT PRODUCTS LIMITED
REGISTERED NUMBER: 00374392

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
475,877
582,001

Current assets
  

Stocks
  
1,140,835
1,228,036

Debtors: amounts falling due within one year
 5 
2,122,230
1,657,015

Cash at bank and in hand
  
1,573,510
1,540,774

  
4,836,575
4,425,825

Creditors: amounts falling due within one year
 6 
(828,743)
(1,366,864)

Net current assets
  
 
 
4,007,832
 
 
3,058,961

Total assets less current liabilities
  
4,483,709
3,640,962

Creditors: amounts falling due after more than one year
 7 
(46,667)
(128,184)

Provisions for liabilities
  

Deferred tax
 8 
(104,781)
(76,184)

Net assets
  
4,332,261
3,436,594


Capital and reserves
  

Called up share capital 
  
6,901
6,901

Share premium account
  
9,784
9,784

Capital redemption reserve
  
251,675
251,675

Profit and loss account
  
4,063,901
3,168,234

  
4,332,261
3,436,594


Page 1

 
ROLLEM PATENT PRODUCTS LIMITED
REGISTERED NUMBER: 00374392
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 November 2024.




A J Longston
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
ROLLEM PATENT PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Rollem Patent Products Limited is a private company limited by shares, incorporated in England and Wales (registered number: 00374392). Its registered office is Unit 3A Wentworth Way, Wentworth Industrial Estate, Tankersley, Barnsley, S75 3DH. The principal activity of the company throughout the year continued to be the production of specialised machines for print finishing shops. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is pounds sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
ROLLEM PATENT PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 4

 
ROLLEM PATENT PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Freehold property
-
2% straight line
Plant and machinery
-
10% - 33% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
10% reducing balance
Computer equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
ROLLEM PATENT PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Financial instruments

Enter text here - user input
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties. 
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 39 (2023 - 31).

Page 6

 
ROLLEM PATENT PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£
£



Cost 


At 1 April 2023
106,911
783,760
110,567
15,009
28,744
1,044,991


Additions
4,507
-
-
4,618
1,732
10,857


Disposals
-
-
(65,994)
-
-
(65,994)



At 31 March 2024

111,418
783,760
44,573
19,627
30,476
989,854



Depreciation


At 1 April 2023
2,051
409,478
26,857
4,641
19,963
462,990


Charge for the year on owned assets
2,184
44,691
11,096
1,309
3,477
62,757


Disposals
-
-
(11,770)
-
-
(11,770)



At 31 March 2024

4,235
454,169
26,183
5,950
23,440
513,977



Net book value



At 31 March 2024
107,183
329,591
18,390
13,677
7,036
475,877



At 31 March 2023
104,860
374,282
83,710
10,368
8,781
582,001

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
-
59,169

Page 7

 
ROLLEM PATENT PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,731,629
1,008,010

Amounts owed by group undertakings
110,369
520,281

Other debtors
233,738
85,791

Prepayments and accrued income
46,494
42,933

2,122,230
1,657,015



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank and other loans
40,000
40,000

Payments received on account
-
456,940

Trade creditors
401,317
436,540

Corporation tax
17,208
359,837

Other taxation and social security
104,984
34,944

Obligations under finance lease and hire purchase contracts
-
9,169

Other creditors
251,534
4,789

Accruals and deferred income
13,700
24,645

828,743
1,366,864



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank and other loans
46,667
86,667

Net obligations under finance leases and hire purchase contracts
-
41,517

46,667
128,184


Included in creditors due within and after more than one year are bank loans totalling £86,667 (2022: £126,667) on which security has been given by the company.

Page 8

 
ROLLEM PATENT PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Deferred taxation




2024


£






At beginning of year
76,184


Charged to profit or loss
28,597



At end of year
104,781

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
104,925
119,508

Movement in provisions
(144)
(109)

Losses carried forward
-
(43,215)

104,781
76,184


9.


Pension commitments

The company operates defined contribution schemes for the benefit of directors and employees. The assets of the schemes are administered by trustees in a fund independent from those of the company. The pension contributions payable for the year were £42,518 (2023: £33,714). Contributions totalling £1,534 (2023 - £436) were payable to the fund at the balance sheet date and are included in creditors.


10.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
154,300
154,300

Later than 1 year and not later than 5 years
490,499
544,799

Later than 5 years
100,000
200,000

744,799
899,099

Page 9

 
ROLLEM PATENT PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Controlling party

Rollem Group Limited, a company registered in England & Wales, owns 100% of the share capital of the company. On 12 July 2023 the Rollem Group Employee-Ownership Trust became the beneficial owner of the shares in Rollem Group Limited.

 
Page 10