Registered number
08205241
Roadtechs Specialist Products Limited
Unaudited Filleted Accounts
31 March 2024
Roadtechs Specialist Products Limited
Registered number: 08205241
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 237,435 329,368
Tangible assets 4 240,178 216,574
477,613 545,942
Current assets
Stocks 751,830 677,230
Debtors 5 345,383 314,639
Cash at bank and in hand 95,426 116,118
1,192,639 1,107,987
Creditors: amounts falling due within one year 6 (573,148) (579,927)
Net current assets 619,491 528,060
Total assets less current liabilities 1,097,104 1,074,002
Creditors: amounts falling due after more than one year 7 - (25,215)
Provisions for liabilities (60,045) (54,144)
Net assets 1,037,059 994,643
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,037,058 994,642
Shareholder's funds 1,037,059 994,643
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J S Lilley
Director
Approved by the board on 14 November 2024
Roadtechs Specialist Products Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% Straight line
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 5
3 Intangible fixed assets £
Development:
Cost
At 1 April 2023 942,192
At 31 March 2024 942,192
Amortisation
At 1 April 2023 612,824
Provided during the year 91,933
At 31 March 2024 704,757
Net book value
At 31 March 2024 237,435
At 31 March 2023 329,368
Development is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery
£
Cost
At 1 April 2023 537,109
Additions 65,356
At 31 March 2024 602,465
Depreciation
At 1 April 2023 320,535
Charge for the year 41,752
At 31 March 2024 362,287
Net book value
At 31 March 2024 240,178
At 31 March 2023 216,574
5 Debtors 2024 2023
£ £
Trade debtors 286,136 278,103
Amounts owed by group undertakings 7,934 3,594
Other debtors 51,313 32,942
345,383 314,639
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 89,290 178,736
Obligations under finance lease and hire purchase contracts 25,136 37,691
Trade creditors 298,986 190,081
Amounts owed to group undertakings 110,766 146,374
Taxation and social security costs 45,404 23,479
Other creditors 3,566 3,566
573,148 579,927
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 25,215
8 Pension commitments
The company operates a defined contribution pension scheme the assets of which are held separately from those of the company.
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 175,750 270,750
10 Contingent liabilities
The company and other group companies provide a cross guarantee over the liabilities due to HSBC under a group arrangement. At 31 March 2024 the total liability was £26,630
11 Related party transactions
The company trades with fellow group companies. All transactions are completed at normal commercial rates.
12 Controlling party
The ultimate parent company is Roadtechs Holdings Limited, a company registered in England and Wales, by virtue of its 100% shareholding. The registered office address is the same.
13 Other information
Roadtechs Specialist Products Limited is a private company limited by shares and incorporated in England. Its registered office is:
Barondale Lane
Topcroft
Bungay
NR35 2BE
Roadtechs Specialist Products Limited 08205241 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 J S Lilley No description of principal activity 08205241 2022-04-01 2023-03-31 08205241 core:WithinOneYear 2023-03-31 08205241 core:AfterOneYear 2023-03-31 08205241 core:ShareCapital 2023-03-31 08205241 core:RetainedEarningsAccumulatedLosses 2023-03-31 08205241 core:AllPeriods 2023-03-31 08205241 2023-04-01 2024-03-31 08205241 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08205241 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08205241 bus:Director40 2023-04-01 2024-03-31 08205241 1 2023-04-01 2024-03-31 08205241 2 2023-04-01 2024-03-31 08205241 core:Goodwill 2023-04-01 2024-03-31 08205241 core:PlantMachinery 2023-04-01 2024-03-31 08205241 countries:England 2023-04-01 2024-03-31 08205241 bus:FRS102 2023-04-01 2024-03-31 08205241 bus:FilletedAccounts 2023-04-01 2024-03-31 08205241 2024-03-31 08205241 core:WithinOneYear 2024-03-31 08205241 core:AfterOneYear 2024-03-31 08205241 core:ShareCapital 2024-03-31 08205241 core:RetainedEarningsAccumulatedLosses 2024-03-31 08205241 core:Goodwill 2024-03-31 08205241 core:PlantMachinery 2024-03-31 08205241 core:AllPeriods 2024-03-31 08205241 2023-03-31 08205241 core:Goodwill 2023-03-31 08205241 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure