Company registration number 04181915 (England and Wales)
ROL CONSTRUCTION LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
ROL CONSTRUCTION LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
ROL CONSTRUCTION LTD
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
7,051
58,003
Current assets
Debtors
5
3,411,040
1,848,889
Cash at bank and in hand
833,478
879,520
4,244,518
2,728,409
Creditors: amounts falling due within one year
6
(3,457,133)
(2,089,985)
Net current assets
787,385
638,424
Total assets less current liabilities
794,436
696,427
Provisions for liabilities
(1,638)
(5,325)
Net assets
792,798
691,102
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
792,698
691,002
Total equity
792,798
691,102

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 25 April 2025 and are signed on its behalf by:
P O'Leary
M Reidy
Director
Director
Company registration number 04181915 (England and Wales)
ROL CONSTRUCTION LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

ROL Construction Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 15, Smallford Works, Smallford Lane, St Albans, AL4 0SA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amount receivable for goods and services net of VAT and trade discounts.

 

Profit is recognised on long term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as the proportion of total contract value which costs to date bear to total expected costs for that contract.

 

Amount receivable on long term contracts, which is included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payment on account.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% Straight Line Method
Fixtures, fittings & equipment
15% Reducing balance Method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

ROL CONSTRUCTION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
1.4
Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

 

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

 

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

 

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ROL CONSTRUCTION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ROL CONSTRUCTION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
5
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 and 31 July 2024
1,357,594
Depreciation and impairment
At 1 August 2023
1,299,591
Depreciation charged in the year
50,952
At 31 July 2024
1,350,543
Carrying amount
At 31 July 2024
7,051
At 31 July 2023
58,003

 

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,857,985
1,339,148
Other debtors
553,055
509,741
3,411,040
1,848,889
ROL CONSTRUCTION LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,818,481
830,121
Amounts owed to group undertakings
343,799
214,361
Taxation and social security
211,102
127,774
Other creditors
1,083,751
917,729
3,457,133
2,089,985

 

7
Parent company

The ultimate parent company is Rol (Holdings) Limited and its registered office is Unit 15, Smallford Works, Smallford Lane, St Albans, United Kingdom, AQL4 0SA

2024-07-312023-08-01falsefalsefalse25 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityP O'LearyM ReidyMort Reidy041819152023-08-012024-07-31041819152024-07-31041819152023-07-3104181915core:OtherPropertyPlantEquipment2024-07-3104181915core:OtherPropertyPlantEquipment2023-07-3104181915core:CurrentFinancialInstrumentscore:WithinOneYear2024-07-3104181915core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-3104181915core:CurrentFinancialInstruments2024-07-3104181915core:CurrentFinancialInstruments2023-07-3104181915core:ShareCapital2024-07-3104181915core:ShareCapital2023-07-3104181915core:RetainedEarningsAccumulatedLosses2024-07-3104181915core:RetainedEarningsAccumulatedLosses2023-07-3104181915bus:Director12023-08-012024-07-3104181915bus:CompanySecretaryDirector12023-08-012024-07-3104181915core:PlantMachinery2023-08-012024-07-3104181915core:FurnitureFittings2023-08-012024-07-31041819152022-08-012023-07-3104181915core:OtherPropertyPlantEquipment2023-07-3104181915core:OtherPropertyPlantEquipment2023-08-012024-07-3104181915core:WithinOneYear2024-07-3104181915core:WithinOneYear2023-07-3104181915bus:PrivateLimitedCompanyLtd2023-08-012024-07-3104181915bus:SmallCompaniesRegimeForAccounts2023-08-012024-07-3104181915bus:FRS1022023-08-012024-07-3104181915bus:AuditExemptWithAccountantsReport2023-08-012024-07-3104181915bus:Director22023-08-012024-07-3104181915bus:CompanySecretary12023-08-012024-07-3104181915bus:FullAccounts2023-08-012024-07-31xbrli:purexbrli:sharesiso4217:GBP