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Registration number: 07749152

Rossington Blyth Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Rossington Blyth Limited

(Registration number: 07749152)

Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

24,362

36,543

Current assets

 

Debtors

4

983,419

1,364,512

Cash at bank and in hand

 

348,125

1,444

 

1,331,544

1,365,956

Creditors: Amounts falling due within one year

5

(221,979)

(178,471)

Net current assets

 

1,109,565

1,187,485

Net assets

 

1,133,927

1,224,028

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

1,133,925

1,224,026

Shareholders' funds

 

1,133,927

1,224,028

For the financial year ending 31 May 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 and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 31 October 2024 and signed on its behalf by:
 

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

Mr P J Rossington
Director

 

Rossington Blyth Limited

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

1

Accounting policies

Statutory information

Rossington Blyth Limited is a private company, limited by shares, domiciled in England and Wales, company number 07749152. The registered office is at Sutton House Farm, Mattersey Road, Sutton-cum-Lound, Retford, DN22 8PW.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

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.

Tax

The tax expense for the period comprises 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.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% straight line

 

Rossington Blyth Limited

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

1

Accounting policies (continued)

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Tangible assets

Motor vehicles
 £

Cost

At 1 June 2023

48,724

At 31 May 2024

48,724

Depreciation

At 1 June 2023

12,181

Charge for the year

12,181

At 31 May 2024

24,362

Carrying amount

At 31 May 2024

24,362

At 31 May 2023

36,543

4

Debtors

2024
£

2023
£

Directors loan account

433,000

710,000

Other debtors

550,419

654,512

983,419

1,364,512

 

Rossington Blyth Limited

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

5

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

1,236

1,527

Accruals

1,800

2,046

Other creditors

218,943

174,898

221,979

178,471

6

Related party transactions

At the balance sheet date the directors had an interest free loan with the company. The amount due from Mr P J Rossington and Mrs D J Rossington, the directors at the balance sheet date, was £433,000 (2023 - £710,000).

7

Ultimate controlling party

The ultimate controlling party is Mr and Mrs P J Rossington.

The company has taken advantage of the exemption available under FRS 102 and has not disclosed related party transactions which are all considered to be at arms length on normal commercial terms.