REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st July 2024 |
for |
Roel Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st July 2024 |
for |
Roel Limited |
Roel Limited (Registered number: 07708187) |
Contents of the Financial Statements |
for the Year Ended 31st July 2024 |
Page |
Company information | 1 |
Abridged statement of financial position | 2 |
Notes to the financial statements | 4 |
Roel Limited |
Company Information |
for the Year Ended 31st July 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Abacus House |
14-18 Forest Road |
Loughton |
Essex |
IG10 1DX |
Roel Limited (Registered number: 07708187) |
Abridged Statement of Financial Position |
31st July 2024 |
2024 | 2023 |
Notes | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Revaluation reserve | 7 |
Retained earnings |
Shareholders' funds |
Roel Limited (Registered number: 07708187) |
Abridged Statement of Financial Position - continued |
31st July 2024 |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
Roel Limited (Registered number: 07708187) |
Notes to the Financial Statements |
for the Year Ended 31st July 2024 |
1. | Statutory information |
Roel Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery, Test Facility - 10% on cost |
Plant and machinery, Other - 15% reducing balance |
3. | Employees and directors |
The average number of employees during the year was |
Roel Limited (Registered number: 07708187) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2024 |
4. | Intangible fixed assets |
Totals |
£ |
Cost |
At 1st August 2023 |
and 31st July 2024 |
Amortisation |
At 1st August 2023 |
Amortisation for year |
At 31st July 2024 |
Net book value |
At 31st July 2024 |
At 31st July 2023 |
5. | Tangible fixed assets |
Totals |
£ |
Cost or valuation |
At 1st August 2023 |
Additions |
At 31st July 2024 |
Depreciation |
At 1st August 2023 |
Charge for year |
At 31st July 2024 |
Net book value |
At 31st July 2024 |
At 31st July 2023 |
Roel Limited (Registered number: 07708187) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2024 |
5. | Tangible fixed assets - continued |
The valuation of Test Facility 1 included within plant and machinery is £175,000. (2019 - £175,000). It was valued on an open market basis on 31st March 2014 by IAC Acoustics. The directors believe this valuation still to be accurate. |
The valuation of Test Facility 2 included within plant and machinery is £150,000. It was valued on an open market basis on 21st March 2018 by IAC Acoustics. |
The valuation of Test Cell Facility 3 included within plant and machinery is £225,000, based on it's purchase price in July 2023. |
The valuation of Energy Storage Systems in Test Facilities 1 & 2 included within plant and machinery is £75,000 per cell. They were valued on an open market basis on 2nd October 2019 by Goodman Wolfe, Energy Storage Consulting. |
The valuation of the Energy Storage System in Test Facility 3 included within plant and machinery is £35,000, based on purchase price in May 2023 |
6. | Debtors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Other debtors |
7. | Reserves |
Revaluation |
reserve |
£ |
At 1st August 2023 | 253,730 |
Cell 1 and 2 Energy Storage Systems | 61,583 |
At 31st July 2024 | 315,313 |
8. | Director's advances, credits and guarantees |
The following advances and credits to directors subsisted during the years ended 31st July 2024 and 31st July 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Roel Limited (Registered number: 07708187) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2024 |
8. | Director's advances, credits and guarantees - continued |
R J Ellis |
Balance outstanding at start of year | - | 156,363 |
Amounts repaid | - | (156,363 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | - | - |