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Registration number: 00612258

S.ROYCE & SON LIMITED

Unaudited Filleted Financial Statements

for the Year Ended 29 June 2024

 

S.ROYCE & SON LIMITED

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

S.ROYCE & SON LIMITED

Company Information

Directors

Mr Martin Royce

Mrs Lorraine Sarsby

Mrs Sharon Royce

Mrs Melanie Seligman

Mrs Stacey Levy

Company secretary

Mrs Sharon Royce

Registered office

3rd Floor
166 College Road
Harrow
Middlesex
HA1 1BH

Accountants

MG Group (Professional Services) Limited
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
S.ROYCE & SON LIMITED
for the Year Ended 29 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of S.ROYCE & SON LIMITED for the year ended 29 June 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of S.ROYCE & SON 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 S.ROYCE & SON LIMITED and state those matters that we have agreed to state to the Board of Directors of S.ROYCE & SON LIMITED, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S.ROYCE & SON LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that S.ROYCE & SON 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 S.ROYCE & SON LIMITED. You consider that S.ROYCE & SON 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 S.ROYCE & SON 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.

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

MG Group (Professional Services) Limited
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH

8 November 2024

 

S.ROYCE & SON LIMITED

(Registration number: 00612258)
Balance Sheet as at 29 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

186

Current assets

 

Other financial assets

5

107,840

129,640

Cash at bank and in hand

 

6,313

3,483

 

114,153

133,123

Creditors: Amounts falling due within one year

6

(13,098)

(26,508)

Net current assets

 

101,055

106,615

Net assets

 

101,055

106,801

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

100,955

106,701

Shareholders' funds

 

101,055

106,801

For the financial year ending 29 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 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 8 November 2024 and signed on its behalf by:
 

.........................................
Mr Martin Royce
Director

 

S.ROYCE & SON LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
3rd Floor
166 College Road
Harrow
Middlesex
HA1 1BH
England

These financial statements were authorised for issue by the Board on 8 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.

Going concern

The financial statements have been prepared on a going concern basis.

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

Fixtures and fittings

Straight line- 33%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

S.ROYCE & SON LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

S.ROYCE & SON LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 June 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 30 June 2023

1,063

1,063

At 29 June 2024

1,063

1,063

Depreciation

At 30 June 2023

877

877

Charge for the year

186

186

At 29 June 2024

1,063

1,063

Carrying amount

At 29 June 2024

-

-

At 29 June 2023

186

186

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 30 June 2023

129,640

129,640

Fair value adjustments

3,848

3,848

Disposals

(25,648)

(25,648)

At 29 June 2024

107,840

107,840

 

S.ROYCE & SON LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 29 June 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

-

11,276

Accruals and deferred income

 

2,324

4,008

Other creditors

 

10,774

11,224

 

13,098

26,508

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

11,276

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

-

-

-

-

Ordinary shares A of £1 each

61

61

61

61

Ordinary shares B of £1 each

39

39

39

39

100

100

100

100

9

Related party transactions


Other related party transactions

During the year the company made the following related party transactions:

Directors

At the balance sheet date, the amount due to one of the directors was £10,774 (2023 - £11,224).