Registration number:
Rollestone Limited
for the Year Ended 30 September 2024
Rollestone Limited
Contents
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Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Rollestone Limited
Company Information
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Director |
Mr G R Smith |
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Company secretary |
Mr G R Smith |
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Registered office |
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Accountants |
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Rollestone Limited
(Registration number: 06349407)
Balance Sheet as at 30 September 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
25 |
25 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Rollestone Limited
(Registration number: 06349407)
Balance Sheet as at 30 September 2024 (continued)
Approved and authorised by the
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Rollestone Limited
Statement of Changes in Equity for the Year Ended 30 September 2024
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Share capital |
Retained earnings |
Total |
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At 1 October 2023 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 30 September 2024 |
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Share capital |
Retained earnings |
Total |
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At 1 October 2022 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 30 September 2023 |
1 |
1,189,483 |
1,189,484 |
Rollestone Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Rollestone Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)
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2 |
Accounting policies (continued) |
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Land and Buildings |
10% Straight Line |
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Plant and Machinery |
25% Reducing Balance |
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks and growing crops have been valued at no less than cost, deemed cost, or net realisable value.
Deemed cost has been used where actual cost is not accurately ascertainable and is defined as: Harvested crops - 75% of market value.
Market value is defined as the estimated amount for which an asset should exchange on the date of valuation in an arms-length transaction.
Net realisable value is defined as the actual or estimated selling price on the date of valuation less further costs to completion and for marketing, selling and distributing.
Rollestone Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)
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2 |
Accounting policies (continued) |
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Financial instruments
Classification
Recognition and measurement
At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Rollestone Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)
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Tangible assets |
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Land and buildings |
Long leasehold land and buildings |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 October 2023 |
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Additions |
- |
- |
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At 30 September 2024 |
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Depreciation |
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At 1 October 2023 |
- |
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Charge for the year |
- |
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At 30 September 2024 |
- |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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Other financial assets (current and non-current) |
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Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 October 2023 |
25 |
25 |
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At 30 September 2024 |
25 |
25 |
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Impairment |
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Carrying amount |
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At 30 September 2024 |
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25 |
Rollestone Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)
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Stocks |
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2024 |
2023 |
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Other inventories |
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Debtors |
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Current |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Provision for bad debts |
(5,662) |
(4,676) |
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Non-current |
2024 |
2023 |
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Other debtors |
34,000 |
34,000 |
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Rollestone Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Rollestone Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)
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10 |
Loans and borrowings (continued) |
Current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Hire purchase contracts |
- |
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The loan is unsecured for a period of 72 months and attracts interest of 0% for the first 12 months and 2.5% per annum thereafter.
Repayments are made monthly. No repayments are due for the first 12 months.
Amounts due for repayment:
Less than 1 year: £10,648 (2023 - £10,648)
More than 1 year and less than 5 years: £11,801 (2023 - £21,759)
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Dividends |
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2024 |
2023 |
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£ |
£ |
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Interim dividend of £ |
114,986 |
89,996 |
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Related party transactions |
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Transactions with the director |
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2024 |
At 1 October 2023 |
Advances to director |
Repayments by director |
At 30 September 2024 |
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Mr G R Smith |
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The loan is interest free with no fixed date of repayment. |
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( |
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