Rotherham Building Plastics Ltd
Registered number: 10049929
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,369 9,825
Current assets
Stocks 19,785 20,260
Debtors 4 31,044 29,505
Cash at bank and in hand 5,898 23,219
56,727 72,984
Creditors: amounts falling due within one year 5 (153,489) (160,611)
Net current liabilities (96,762) (87,627)
Total assets less current liabilities (89,393) (77,802)
Creditors: amounts falling due after more than one year 6 (27,337) (44,463)
Provisions for liabilities (1,400) (1,867)
Net liabilities (118,130) (124,132)
Capital and reserves
Called up share capital 10 10
Profit and loss account (118,140) (124,142)
Shareholder's funds (118,130) (124,132)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Scott
Director
Approved by the board on 17 February 2025
Rotherham Building Plastics Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% reducing balance
Office equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 June 2023 1,468 15,999 17,467
At 31 May 2024 1,468 15,999 17,467
Depreciation
At 1 June 2023 643 6,999 7,642
Charge for the year 206 2,250 2,456
At 31 May 2024 849 9,249 10,098
Net book value
At 31 May 2024 619 6,750 7,369
At 31 May 2023 825 9,000 9,825
4 Debtors 2024 2023
£ £
Trade debtors 9,563 14,685
Other debtors 21,481 14,820
31,044 29,505
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 74,624 63,724
Trade creditors 58,751 85,791
Other taxes and social security costs 20,114 11,096
153,489 160,611
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 27,337 35,802
Other creditors - 8,661
27,337 44,463
7 Other information
Rotherham Building Plastics Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3E Thornhill Industrial Estate
Hope Street
Rotherham
South Yorkshire
S60 1LH
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