REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended 30 April 2024 |
for |
Roscom Limited |
REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended 30 April 2024 |
for |
Roscom Limited |
Roscom Limited (Registered number: 04070645) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Roscom Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
The Mills |
Canal Street |
Derby |
DE1 2RJ |
Roscom Limited (Registered number: 04070645) |
Balance Sheet |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 10 |
Capital redemption reserve | 10 |
Retained earnings | 10 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Roscom Limited (Registered number: 04070645) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Roscom Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of services and equipment, excluding value added tax. |
Net income from service contracts is recognised evenly over the term to which it relates. |
Net income from equipment is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the previously agreed amounts upon payment. |
Tangible fixed assets |
Tangible fixed assets, apart from monitoring equipment, are stated at historical cost less accumulated depreciation. 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. |
Monitoring equipment is revalued on an annual basis with the value of each unit determined by the amount of income that it generates for the company. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - 2% on cost when first brought into use |
Monitoring equipment | - 25% on cost when brought into use |
Office equipment and fixtures | - 20% on cost |
Test equipment | - 20% on cost |
Motor vehicles | - 25% on cost |
IT hardware | - 33% on cost |
Freehold land is not depreciated. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administrative expenses' in the profit and loss account. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is based on purchase invoice price on a first in first out basis and includes all direct expenditure. |
Roscom Limited (Registered number: 04070645) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Roscom Limited (Registered number: 04070645) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS |
Office |
equipment |
Freehold | Monitoring | and |
property | equipment | fixtures |
£ | £ | £ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
Disposals | ( |
) |
Revaluations | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
Revaluation adjustments | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Test | Motor | IT |
equipment | vehicles | hardware | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 May 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
Revaluations | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
Revaluation adjustments | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Included in cost or valuation of land and buildings is freehold land of £ 171,418 (2023 - £ 171,418 ) which is not depreciated. |
Freehold property had not been brought into use as at the year end and therefore no depreciation has been charged. |
Roscom Limited (Registered number: 04070645) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 30 April 2024 is represented by: |
Office |
equipment |
Freehold | Monitoring | and |
property | equipment | fixtures |
£ | £ | £ |
Valuation in 2024 | - | 111,625 | - |
Cost | 1,499,028 | - | 73,902 |
1,499,028 | 111,625 | 73,902 |
Test | Motor | IT |
equipment | vehicles | hardware | Totals |
£ | £ | £ | £ |
Valuation in 2024 | - | - | - | 111,625 |
Cost | 145,249 | 100,051 | 298,427 | 2,116,657 |
145,249 | 100,051 | 298,427 | 2,228,282 |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by related parties |
Other debtors |
Taxation recoverable | 20,383 | 20,383 |
Prepayments |
Accrued income |
Amounts falling due after more than one year: |
Deferred tax | 313,000 | 313,000 |
Aggregate amounts |
The deferred tax balance is available to offset corporation tax liabilities of the company arising in more than one year. It comprises capital allowances due in future periods of £32,000 (2023: £32,000) and losses available to be offset in future periods of £345,000 (2023: £345,000). |
Roscom Limited (Registered number: 04070645) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 8) |
Trade creditors |
Social security and other taxes |
Other creditors |
Directors' loan accounts | 14,918 | 4,213 |
Deferred income |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans | 19,133 | 30,240 |
Hire purchase contracts (see note 8) |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts | 10,320 | 39,586 |
Roscom Limited (Registered number: 04070645) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
10. | RESERVES |
Capital |
Retained | Revaluation | redemption |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
At 1 May 2023 | 2,194,558 |
Deficit for the year | ( |
) | - | - | ( |
) |
Dividends | ( |
) | - | - | ( |
) |
Reserves transfer | (85,775 | ) | 85,775 | - | - |
At 30 April 2024 | 1,904,738 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | RELATED PARTY DISCLOSURES |
During the prior financial year the company traded with another company which is controlled by a company director. During the current year the company was charged £nil (2023: £7,517) in respect of site facilities provided by the related company. |
The company billed the pension scheme £48,738 (2023: £nil) in respect of management charges. At the balance sheet date £256,601 (2023: £253,966) was included in debtors in relation to amounts owed by the pension scheme. |