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Registration number: 04899347

Ropnoy Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Ropnoy Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Ropnoy Limited

Company Information

Directors

Ms Elizabeth Nicholson

Mr Marc Julian Rolfe

Company secretary

Mr Max Ingram

Registered office

64 Parson Street
London
NW4 1TP

 

Ropnoy Limited

(Registration number: 04899347)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

371

-

Investments

5

50

50

 

421

50

Current assets

 

Debtors

6

3,748

1,703

Cash at bank and in hand

 

3,496

11,724

 

7,244

13,427

Creditors: Amounts falling due within one year

7

(17,375)

(6,492)

Net current (liabilities)/assets

 

(10,131)

6,935

Total assets less current liabilities

 

(9,710)

6,985

Creditors: Amounts falling due after more than one year

7

(2,429)

(4,474)

Provisions for liabilities

7,607

4,824

Net (liabilities)/assets

 

(4,532)

7,335

Capital and reserves

 

Called up share capital

100

100

Share premium reserve

7,742

7,742

Retained earnings

(12,374)

(507)

Shareholders' (deficit)/funds

 

(4,532)

7,335

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. 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 15 November 2024 and signed on its behalf by:
 

 

Ropnoy Limited

(Registration number: 04899347)
Balance Sheet as at 31 May 2024

.........................................
Ms Elizabeth Nicholson
Director

.........................................
Mr Marc Julian Rolfe
Director

 

Ropnoy Limited

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

1

General information

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

The address of its registered office is:
64 Parson Street
London
NW4 1TP
United Kingdom

These financial statements were authorised for issue by the Board on 15 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the balance sheet date the company had net current liabilities of £10,131 (2023: net assets of £6,935) and retained losses of £12,374 (2023: £507). The directors have pledged to continue to financially support the company for the forseeable future. On this basis, the directors feel it is appropriate to prepare these financial statements on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at each month end provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that the expenses recognised are recoverable.

 

Ropnoy Limited

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

Government grants

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the business recognises related costs which the grant is intended to compensate.

A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade debtors are reviewed on an annual basis and any adjustment is made accordingly through the profit and loss account.

 

Ropnoy Limited

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

Trade creditors

Trade creditors are obligations to pay for 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 at the transaction price.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

 

Ropnoy Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

398

398

At 31 May 2024

398

398

Depreciation

Charge for the year

27

27

At 31 May 2024

27

27

Carrying amount

At 31 May 2024

371

371

5

Investments

2024
£

2023
£

Investments in subsidiaries

50

50

Subsidiaries

£

Cost or valuation

At 1 June 2023

50

Provision

Carrying amount

At 31 May 2024

50

At 31 May 2023

50

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Ropnoy Limited

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

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Evo One Limited

64 Parsons Street
London
NW4 1TP

England

Ordinary shares

100%

100%

Subsidiary undertakings

Evo One Limited

The principal activity of Evo One Limited is that of provision of software.

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

780

-

Amounts owed by related parties

9

1,301

1,301

Prepayments

 

-

402

Other debtors

 

1,667

-

   

3,748

1,703

 

Ropnoy Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

2,046

1,995

Trade creditors

 

50

-

Taxation and social security

 

1,107

1,538

Accruals and deferred income

 

893

892

Other creditors

 

13,279

2,067

 

17,375

6,492

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

2,429

4,474

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Related party transactions

At the balance sheet date the company owed £7,884 (2023: £1,033) to Ms E Nicholson and £5,376 (2023: £1,033) to Mr M Rolfe, the directors of the company. This loan is provided interest free and is repayale on demand.

Summary of transactions with subsidary

At the balance sheet date the company was owed £1,301 (2023: £1,301) from Evo One Limited. Evo One Limited is a subsidary of Ropnoy Limited. This loan is repayable on demand and interest free.
 

10

Ultimate controlling party

The ultimate controlling party is Mr M J Rolfe, by virtue of their majority shareholding.

 

Ropnoy Limited

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

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,429

4,474

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,046

1,995

Also included within bank loans and overdrafts due under one year is £2,046 and over one year is £2,429 relating to a loan acquired under the Bounce Back Loan Scheme (BBLS) which is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy.