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REGISTERED NUMBER: 02049641 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

ROCH VALLEY LIMITED

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


ROCH VALLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: D. Doughty
Ms D M Golding
Ms A M O'Neill





REGISTERED OFFICE: Pennine Business Park
Pilsworth
Heywood
Lancashire
OL10 2TL





REGISTERED NUMBER: 02049641 (England and Wales)





AUDITORS: Wyatt Morris Golland Ltd
Statutory Auditors
Park House
200 Drake Street
Rochdale
Lancashire
OL16 1PJ

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024

The directors present their strategic report for the year ended 31 July 2024.

REVIEW OF BUSINESS
The directors consider the company's performance to be satisfactory in the light of general current economic conditions in the UK and throughout the world.

PRINCIPAL RISKS AND UNCERTAINTIES
The company deals in a number of currencies and is aware of the potential risks involved in respect of exchange fluctuations. The directors have considered the risks and have taken appropriate action where possible to mitigate those risks. The directors believe the company's performance is reliant upon their well established reputation within the dance and gymnastics wear markets. They have identified loss of reputation as a principle risk that could damage the company. The directors have a hands on approach to management to ensure that the risk is monitored.

BUSINESS PERFORMANCE
Roch Valley's ongoing success is dependent on a consistent high level of quality in the goods that they manufacture and supply. The directors view the profits during the year as satisfactory given the current general economic conditions in the UK and throughout the world.

This year the gross profit margin has increased slightly to 49.2% compared to 48.1% last year.

The company has a high number of sales on a zero credit basis aiding cashflow and reducing the risk of bad debts. Trade debtors also includes suppliers who have been paid in advance, which continues to be mainly those suppliers shipping from abroad. Debtor days have increased slightly from 27.2 days to 30.2 days, which is still considered good by the directors.

In the coming years the company will look to carry on providing high quality products to the dance, leisure and gymnastics wear markets thereby maintaining their reputation within the industry.

The directors are of the opinion that the company is well placed to use the accumulated reserves within the company to fund further growth, thereby increasing the company's current level of activity to improve future performance .

ON BEHALF OF THE BOARD:





D. Doughty - Director


2 January 2025

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JULY 2024

The directors present their report with the financial statements of the company for the year ended 31 July 2024.

PRINCIPAL ACTIVITIES
The principal activities of the company in the year under review were those of manufacturers, wholesalers and retailers of dance, leisure, and aerobic wear.

DIVIDENDS
No dividends will be distributed for the year ended 31 July 2024.

RESEARCH AND DEVELOPMENT
The company is not planning to undertake research and development.

DIRECTORS
D. Doughty has held office during the whole of the period from 1 August 2023 to the date of this report.

Other changes in directors holding office are as follows:

Ms D M Golding and Ms A M O'Neill were appointed as directors after 31 July 2024 but prior to the date of this report.

R. Doughty and S. Elvidge ceased to be directors after 31 July 2024 but prior to the date of this report.

POTENTIAL IMPACT OF CURRENCY EXCHANGE
The company deals in a number of currencies and is aware of the potential risks involved in respect of exchange fluctuations. The directors have considered the risks and have taken appropriate action where possible to mitigate those risks.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Wyatt Morris Golland Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D. Doughty - Director


2 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ROCH VALLEY LIMITED

Opinion
We have audited the financial statements of Roch Valley Limited (the 'company') for the year ended 31 July 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 July 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ROCH VALLEY LIMITED


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ROCH VALLEY LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Patricia Richards FCA (Senior Statutory Auditor)
for and on behalf of Wyatt Morris Golland Ltd
Statutory Auditors
Park House
200 Drake Street
Rochdale
Lancashire
OL16 1PJ

2 January 2025

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £    £    £   

REVENUE 6,586,498 6,848,536

Cost of sales 3,345,513 3,553,509
GROSS PROFIT 3,240,985 3,295,027

Distribution costs 155,725 171,223
Administrative expenses 2,792,969 2,414,604
2,948,694 2,585,827
292,291 709,200

Other operating income 9,513 16,221
OPERATING PROFIT 5 301,804 725,421

Interest receivable and similar income 7,426 7,236
309,230 732,657

Interest payable and similar expenses 6 6,756 6,695
PROFIT BEFORE TAXATION 302,474 725,962

Tax on profit 7 79,164 162,317
PROFIT FOR THE FINANCIAL YEAR 223,310 563,645

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 223,310 563,645


OTHER COMPREHENSIVE INCOME
Revaluation Reserve 1,145,513 -
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

1,145,513

-
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

1,368,823

563,645

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 9 2,519,023 1,395,576
Investments 10 535,643 535,643
3,054,666 1,931,219

CURRENT ASSETS
Inventories 11 1,921,434 2,005,261
Debtors 12 753,265 705,210
Cash at bank and in hand 206,168 326,732
2,880,867 3,037,203
CREDITORS
Amounts falling due within one year 13 1,429,032 1,829,632
NET CURRENT ASSETS 1,451,835 1,207,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,506,501

3,138,790

CREDITORS
Amounts falling due after more than one year 14 6,306 7,418
NET ASSETS 4,500,195 3,131,372

CAPITAL AND RESERVES
Called up share capital 15 127,000 127,000
Share premium 286,967 286,967
Revaluation reserve 1,145,513 -
Retained earnings 2,940,715 2,717,405
SHAREHOLDERS' FUNDS 4,500,195 3,131,372

The financial statements were approved by the Board of Directors and authorised for issue on 2 January 2025 and were signed on its behalf by:





D. Doughty - Director


ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024

Called up
share Retained Share Revaluation Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 August 2022 127,000 2,739,506 286,967 - 3,153,473

Changes in equity
Dividends - (585,746 ) - - (585,746 )
Total comprehensive income - 563,645 - - 563,645
Balance at 31 July 2023 127,000 2,717,405 286,967 - 3,131,372

Changes in equity
Total comprehensive income - 223,310 - 1,145,513 1,368,823
Balance at 31 July 2024 127,000 2,940,715 286,967 1,145,513 4,500,195

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 550,709 618,976
Interest paid (6,756 ) (6,695 )
Amounts due from group undertakings - 25,170
Tax paid (162,316 ) (145,696 )
Net cash from operating activities 381,637 491,755

Cash flows from investing activities
Purchase of tangible fixed assets (1,461 ) (12,058 )
Interest received 7,426 7,236
Net cash from investing activities 5,965 (4,822 )

Cash flows from financing activities
Government grants received 1,309 1,208
Amount introduced by directors - 581,496
Amount withdrawn by directors (509,475 ) (258,303 )
Equity dividends paid - (585,746 )
Net cash from financing activities (508,166 ) (261,345 )

(Decrease)/increase in cash and cash equivalents (120,564 ) 225,588
Cash and cash equivalents at beginning of year 2 326,732 101,144

Cash and cash equivalents at end of year 2 206,168 326,732

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 JULY 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 302,474 725,962
Depreciation charges 23,527 67,575
Government grants (1,309 ) (1,207 )
Finance costs 6,756 6,695
Finance income (7,426 ) (7,236 )
324,022 791,789
Decrease/(increase) in inventories 83,827 (269,616 )
(Increase)/decrease in trade and other debtors (48,055 ) 218,090
Increase/(decrease) in trade and other creditors 190,915 (121,287 )
Cash generated from operations 550,709 618,976

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 July 2024
31.7.24 1.8.23
£    £   
Cash and cash equivalents 206,168 326,732
Year ended 31 July 2023
31.7.23 1.8.22
£    £   
Cash and cash equivalents 326,732 101,144


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.23 Cash flow At 31.7.24
£    £    £   
Net cash
Cash at bank and in hand 326,732 (120,564 ) 206,168
326,732 (120,564 ) 206,168
Total 326,732 (120,564 ) 206,168

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

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

1. STATUTORY INFORMATION

Roch Valley Limited 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Functional and presentation currency
The individual financial statements are presented in the currency of the primary economic environment in which the entity operates that being the United Kingdom. For the purpose of the financial statements, the results and financial position are presented in Sterling (£).

Significant judgements and estimates
In the process of applying the entity's accounting policies management have not made any judgements that would have a significant effect on the amounts recognised in the financial statements. No estimations have been made that would have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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

Turnover from the sale of dance, leisure and aerobic wear as specified in the strategic report is recognised when all of the following conditions are satisfied:
- the company has transferred to the buyer the significant risks and rewards of ownership of the goods;
- the company retains neither continuing managerial involvement to the degree usually associated with
- ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction can be measured reliably;
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 15% & 20% reducing balance & 20% on cost
Motor vehicles - 25% on reducing balance

Fixtures and fittings are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on fixtures and fittings is charged to profit or loss so as to write off their value, over their estimated useful lives of 5 years using the straight-line method, and 15% & 20% reduced balance methods.

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the assets, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount and would have been determined (net of depreciation) had no impairment loss be recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

During the year the property was revalued to it's market value as required to support borrowings. It is the directors intention only to revalue in future years if they believe there is a significant change in the valuation.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve in other reserves..

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

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

2. ACCOUNTING POLICIES - continued

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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.

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.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,763,141 1,756,568
Social security costs 118,547 113,025
Other pension costs 51,726 43,320
1,933,414 1,912,913

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

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

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Administration 24 23
Selling 19 23
Manufacturing 35 35
78 81

4. DIRECTORS' EMOLUMENTS
2024 2023
£    £   
Directors' remuneration 142,771 125,759
Directors' pension contributions to money purchase schemes 6,691 10,104

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 23,527 67,576
Auditors' remuneration 6,500 6,000
Auditors' remuneration for non audit work 17,500 18,475
Exchange loss 10,643 6,894

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Overdraft interest and charges 6,756 6,695

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 79,164 162,317
Tax on profit 79,164 162,317

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

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

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 302,474 725,962
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 -
19%)

75,619

137,933

Effects of:
Expenses not deductible for tax purposes 66 99
Capital allowances in excess of depreciation - (113 )
Adjustments to tax charge in respect of previous periods - 4
Depreciation on building - 7,301
Movement on deferred tax asset not provided 3,479 1,597
Adjustment for change in tax rate - 15,496
Total tax charge 79,164 162,317

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Revaluation Reserve 1,145,513 - 1,145,513

8. DIVIDENDS
2024 2023
£    £   
Ordinary A shares of £1 each
Interim - 285,875
Ordinary B shares of £1 each
Interim - 229,871
Ordinary C shares of £1 each
Interim - 70,000
- 585,746

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

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

9. PROPERTY, PLANT AND EQUIPMENT
Fixtures,
Long fittings Motor
leasehold & equipment vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 August 2023 1,921,764 658,652 103,434 2,683,850
Additions - 1,461 - 1,461
Revaluations 1,145,513 - - 1,145,513
At 31 July 2024 3,067,277 660,113 103,434 3,830,824
DEPRECIATION
At 1 August 2023 642,277 592,782 53,215 1,288,274
Charge for year - 10,972 12,555 23,527
At 31 July 2024 642,277 603,754 65,770 1,311,801
NET BOOK VALUE
At 31 July 2024 2,425,000 56,359 37,664 2,519,023
At 31 July 2023 1,279,487 65,870 50,219 1,395,576

Cost or valuation at 31 July 2024 is represented by:

Fixtures,
Long fittings Motor
leasehold & equipment vehicles Totals
£    £    £    £   
Valuation in 2024 1,145,513 - - 1,145,513
Cost 1,921,764 660,113 103,434 2,685,311
3,067,277 660,113 103,434 3,830,824

The Land and Buildings were valued by Keppie Massie, Surveyors and Property Consultants, on 13 June 2024.

10. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 August 2023
and 31 July 2024 535,643
NET BOOK VALUE
At 31 July 2024 535,643
At 31 July 2023 535,643

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

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

10. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Roch Valley Manufacturing Limited
Registered office: 57 Glodwick Road, Oldham, Lancashire, OL4 1AR
Nature of business: Dormant
%
Class of shares: holding
Ordinary A shares 100.00
Ordinary B shares 100.00
2024 2023
£    £   
Aggregate capital and reserves 522,603 522,603

Roch Valley GmbH
Registered office: Alt-Heerdt 104, 40549 Düsseldorf
Nature of business: Wholesale & retail of sportswear
%
Class of shares: holding
Ordinary 100.00
31.7.23 31.7.22
£    £   
Aggregate capital and reserves (14,111 ) (22,953 )
Profit/(loss) for the year 8,935 (10,867 )

11. INVENTORIES
2024 2023
£    £   
Raw materials 386,499 416,019
Work-in-progress 35,805 37,782
Finished goods 1,499,130 1,551,460
1,921,434 2,005,261

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 544,948 510,734
Other debtors 12,370 12,370
VAT 21,213 32,418
Prepayments 174,734 149,688
753,265 705,210

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 249,615 147,557
Corporation tax 79,165 162,317
Social security and other taxes 33,931 38,065
Loan account - Roch Valley Manufacturing
Limited

522,603

522,603
Directors' current accounts 173,238 682,713
Accrued expenses 369,367 275,068
Deferred government grants 1,113 1,309
1,429,032 1,829,632

ROCH VALLEY LIMITED (REGISTERED NUMBER: 02049641)

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

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Deferred government grants 6,306 7,418

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
58,286 Ordinary A £1 58,286 58,286
50,933 Ordinary B £1 50,933 50,933
17,780 Ordinary C £1 17,780 17,780
1 Ordinary D £1 1 1
127,000 127,000

16. RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence
2024 2023
£    £   
Amount due from related party 12,370 12,370

17. ULTIMATE CONTROLLING PARTY

During the year the directors were the ultimate controlling party. Following the year end the ultimate controlling party was Roch Valley Trustee Limited