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REGISTERED NUMBER: 08538774 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

ROLFE STREET ARC LTD

ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROLFE STREET ARC LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr K S Jutla





REGISTERED OFFICE: 144 Rolfe Street
Smethwick
West Midlands
B66 2BE





REGISTERED NUMBER: 08538774 (England and Wales)





ACCOUNTANTS: Ark&Co Ltd
Chartered Accountants & Chartered Tax Advisers
The Maltings
2 Anderson Rd
Bearwood
Birmingham
West Midlands
B66 4AR

ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 117,500 117,500
Tangible assets 5 422,080 241,124
539,580 358,624

CURRENT ASSETS
Stocks 6 7,200 5,000
Debtors 7 307,103 193,046
Cash at bank and in hand 527,512 418,916
841,815 616,962
CREDITORS
Amounts falling due within one year 8 297,545 162,649
NET CURRENT ASSETS 544,270 454,313
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,083,850

812,937

CREDITORS
Amounts falling due after more than one
year

9

(351,771

)

(373,562

)

PROVISIONS FOR LIABILITIES 10 (49,253 ) (21,118 )
NET ASSETS 682,826 418,257

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 682,824 418,255
SHAREHOLDERS' FUNDS 682,826 418,257

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:





Mr K S Jutla - Director


ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Rolfe Street ARC Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of nil years.

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.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 117,500
NET BOOK VALUE
At 31 May 2024 117,500
At 31 May 2023 117,500

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 156,253 85,397 43,962
Additions - 98,677 32,892
At 31 May 2024 156,253 184,074 76,854
DEPRECIATION
At 1 June 2023 - 31,702 16,137
Charge for year - 18,776 7,105
At 31 May 2024 - 50,478 23,242
NET BOOK VALUE
At 31 May 2024 156,253 133,596 53,612
At 31 May 2023 156,253 53,695 27,825

ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 - 4,663 290,275
Additions 78,746 2,033 212,348
At 31 May 2024 78,746 6,696 502,623
DEPRECIATION
At 1 June 2023 - 1,312 49,151
Charge for year 4,922 589 31,392
At 31 May 2024 4,922 1,901 80,543
NET BOOK VALUE
At 31 May 2024 73,824 4,795 422,080
At 31 May 2023 - 3,351 241,124

6. STOCKS
31.5.24 31.5.23
£    £   
Stocks 7,200 5,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 307,103 193,046

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 48,795 5,026
Trade creditors 122,004 54,107
Tax 67,547 54,992
Social security and other taxes 6,455 6,453
VAT 40,601 31,725
Wage creditors 3,863 346
Wages creditors 5,596 7,071
Pension creditors 264 729
Accrued expenses 2,420 2,200
297,545 162,649

ROLFE STREET ARC LTD (REGISTERED NUMBER: 08538774)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 5,153 5,153
Bank loans - 2-5 years 16,254 16,254
Bank loans more 5 yr by instal 7,571 12,919
Director's loan more than 1yr 198,081 198,081
Shareholder fund more than 1yr 124,712 141,155
351,771 373,562

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,571 12,919

10. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 49,253 21,118

Deferred
tax
£   
Balance at 1 June 2023 21,118
Provided during year 28,135
Accelerated capital allowance
Unused taxable losses
Balance at 31 May 2024 49,253

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr Charanjit Singh Jutla and Mr Kalwant Singh Jutla.