| REGISTERED NUMBER: |
| ROUNDBRAND LIMITED |
| STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 30 NOVEMBER 2024 |
| REGISTERED NUMBER: |
| ROUNDBRAND LIMITED |
| STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 30 NOVEMBER 2024 |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Report of the Directors | 4 |
| Report of the Independent Auditors | 6 |
| Income Statement | 10 |
| Other Comprehensive Income | 11 |
| Balance Sheet | 12 |
| Statement of Changes in Equity | 13 |
| Cash Flow Statement | 14 |
| Notes to the Cash Flow Statement | 15 |
| Notes to the Financial Statements | 17 |
| ROUNDBRAND LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Sidings House |
| Sidings Court |
| Lakeside |
| Doncaster |
| South Yorkshire |
| DN4 5NU |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| The directors present their strategic report for the year ended 30 November 2024. |
| The results for the year and financial position of the company are as shown in the annexed financial statements. |
| The directors consider the state of the business to be satisfactory. |
| REVIEW OF BUSINESS |
| The main activity of Roundbrand Limited ("the Company") is the manufacture and production of UPVC windows and doors along with manufacture of toughened glass. |
| The strategy of the Company is to produce a high quality product whilst maintaining strong customer relationships with effectively managed employees. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The directors consider that the principal risks the company face are: |
| Business Risk |
| · The failure of suppliers to deliver window components on time; |
| · Adverse changes in the industry. |
| Price Risk |
| The company prices up individual jobs as orders are received to ensure the job is financially viable and to mitigate the risk that the company fails to properly match sales prices to purchase prices. This procedure ensures that the business maintains its trading margins and limits its exposure to variations in market prices. |
| Credit Risk |
| The company monitors outstanding balances on a monthly basis to identify potential problems and liaises with its customers. If this does not resolve the problem debt collection proceedings are initiated in order to minimise credit risk. |
| FINANCIAL KEY PERFORMANCE INDICATORS |
| 2024 | 2023 |
| £ | £ |
| Turnover | 12,799,465 | 13,683,866 |
| Gross Profit | 3,379,113 | 3,417,462 |
| Gross Profit Percentage | 26.40% | 24.97% |
| Net Profit/(Loss) before Tax | 735,862 | 854,076 |
| Cash at Bank and in hand | 1,492,586 | 853,459 |
| Net Assets | 5,549,102 | 5,193,025 |
| Net Current Assets | 2,144,783 | 1,468,685 |
| LIQUIDITY |
| The directors control and monitor the company's cash flow on a regular basis. |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| EMPLOYEES |
| The company continues to seek to recruit good quality staff and to adopt progressive policies of internal and external training so as to maximise their performance. |
| The company gives full and fair consideration to employment applications from disabled persons. Where an employee becomes disabled, arrangements are made wherever practicable to continue employment by identifying an available job suited to that person's capabilities and providing any necessary retraining. |
| ENVIRONMENT |
| The company endeavours to minimise any adverse impact of its activities on the environment. |
| ON BEHALF OF THE BOARD: |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| The directors present their report with the financial statements of the company for the year ended 30 November 2024. |
| DIVIDENDS |
| The total distribution of dividends for the year ended 30 November 2024 will be £ |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 December 2023 to the date of this report. |
| 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. |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| AUDITORS |
| The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| ROUNDBRAND LIMITED |
| Opinion |
| We have audited the financial statements of Roundbrand Limited (the 'company') for the year ended 30 November 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 30 November 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. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| ROUNDBRAND LIMITED |
| 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. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| ROUNDBRAND LIMITED |
| 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: |
| Based on our understanding of the company, we identified that the principal risks of non-compliance with laws and |
| regulations related to construction, building and corporation tax legislation and we considered the extent to which |
| non-compliance might have a material effect on the financial statements. As part of this assessment we considered both quantitative and qualitative factors. We also considered those laws and regulations that have a direct impact on the preparation on the financial statements, such as the Companies Act 2006 and FRS 102. |
| We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements which included the risk of management override of controls. We determined that the principal risks were related to posting inappropriate journal entries, omitting, advancing or delaying recognition of events and transactions that have occurred during or after the reporting period, and potential management bias in the determination of accounting estimates or judgements to manipulate results. |
| Audit procures performed by the engagement team include: |
| - Enquiring of and obtaining written representation from management in relation to known or suspected instances of |
| non-compliance with laws and regulations and fraud; |
| - Enquiring of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and |
| regulations; |
| - Evaluation of management's controls designed to prevent and detect irregularities; |
| - Identifying and, where relevant, testing journal entries posted by senior management or with unusual combinations; |
| - Assessing and evaluating the business rationale of significant transactions outside the normal course of business; |
| - Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with |
| applicable laws and regulations; |
| - Review of correspondence with regulators in so far as they are related to the financial statements; |
| - Incorporating elements of unpredictability into the nature, timing and/or extent of audit procedures performed. |
| There are inherent limitations in the audit procedures described above and the further removed non-compliance with |
| laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion. |
| 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 |
| ROUNDBRAND 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. |
| for and on behalf of |
| Sidings House |
| Sidings Court |
| Lakeside |
| Doncaster |
| South Yorkshire |
| DN4 5NU |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| TURNOVER | 3 |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| 609,069 | 744,485 |
| Other operating income |
| OPERATING PROFIT | 5 |
| Interest receivable and similar income |
| 737,427 | 856,863 |
| Interest payable and similar expenses | 6 |
| PROFIT BEFORE TAXATION |
| Tax on profit | 7 |
| PROFIT FOR THE FINANCIAL YEAR |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| OTHER COMPREHENSIVE INCOME |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| PROFIT FOR THE YEAR |
| OTHER COMPREHENSIVE INCOME |
| Deferred tax on revaluation reserve | ( |
) |
| Income tax relating to other comprehensive income |
| OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
( |
) |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| BALANCE SHEET |
| 30 NOVEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 9 |
| Investments | 10 |
| Investment property | 11 |
| CURRENT ASSETS |
| Stocks | 12 |
| Debtors | 13 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 14 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 15 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 18 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 19 |
| Revaluation reserve | 20 |
| Retained earnings | 20 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| Called up |
| share | Retained | Revaluation | Total |
| capital | earnings | reserve | equity |
| £ | £ | £ | £ |
| Balance at 1 December 2022 |
| Changes in equity |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - | ( |
) |
| Balance at 30 November 2023 |
| Changes in equity |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - | ( |
) |
| Balance at 30 November 2024 |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 |
| Interest paid | ( |
) | ( |
) |
| Tax paid | ( |
) | ( |
) |
| Net cash from operating activities |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | ( |
) | ( |
) |
| Purchase of investment property | ( |
) | ( |
) |
| Sale of tangible fixed assets |
| Sale of fixed asset investments |
| Sale of investment property |
| Interest received |
| Net cash from investing activities | ( |
) |
| Cash flows from financing activities |
| Loan repayments in year | ( |
) |
| Intercompany loan movement | (28,524 | ) | 3,504 |
| Capital repayments in year | ( |
) | ( |
) |
| Amount introduced by directors | 85,720 | - |
| Amount withdrawn by directors | (129,815 | ) | (3,484 | ) |
| Equity dividends paid | ( |
) | ( |
) |
| Net cash from financing activities | ( |
) | ( |
) |
| Increase in cash and cash equivalents |
| Cash and cash equivalents at beginning of year |
2 |
805,274 |
| Cash and cash equivalents at end of year | 2 | 1,492,586 | 853,459 |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| NOTES TO THE CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2024 | 2023 |
| £ | £ |
| Profit before taxation |
| Depreciation charges |
| Profit on disposal of fixed assets | ( |
) |
| Finance costs | 1,565 | 2,787 |
| Finance income | (15,661 | ) | (1,863 | ) |
| 820,361 | 1,029,422 |
| (Increase)/decrease in stocks | ( |
) |
| Decrease/(increase) in trade and other debtors | ( |
) |
| Decrease in trade and other creditors | ( |
) | ( |
) |
| Cash generated from operations |
| 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 30 November 2024 |
| 30.11.24 | 1.12.23 |
| £ | £ |
| Cash and cash equivalents | 1,492,586 | 853,459 |
| Year ended 30 November 2023 |
| 30.11.23 | 1.12.22 |
| £ | £ |
| Cash and cash equivalents | 853,459 | 805,274 |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| NOTES TO THE CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.12.23 | Cash flow | At 30.11.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 853,459 | 639,127 | 1,492,586 |
| 853,459 | 1,492,586 |
| Debt |
| Finance leases | (56,652 | ) | 28,818 | (27,834 | ) |
| (56,652 | ) | 28,818 | (27,834 | ) |
| Total | 796,807 | 667,945 | 1,464,752 |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Roundbrand Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The presentational and functional currency of these financial statements is sterling. Values are rounded to the nearest pound |
| At the balance sheet date of 30 November 2024, the company made a profit for the year after tax of £556,077 (2023: £624,269), and had net assets at that date of £5,549,102 (2023: £5,193,025). |
| The directors are expecting the company's turnover to remain consistent with current levels over the next twelve months and beyond. |
| The company has cash reserves at the year end of £1,492,586 (2023: £853,459). In the directors opinion, the company has sufficient working capital to enable it to continue to trade and meet its liabilities as they fall due for at least the next twelve months from the date of approval of the financial statements. |
| The directors believe that the Company is well placed to manage its business risks successfully. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration. |
| Tangible fixed assets |
| Short leasehold | - |
| Plant and machinery | - |
| Equipment & fittings | - |
| Motor vehicles | - |
| No depreciation is provided on land and buildings as the residual value of land and buildings is greater than the cost stated in the accounts. |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Investment property |
| Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. Investment properties whose fair value cannot be measured reliably without undue cost or effort on an on-going basis are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses. |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 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. |
| Investments |
| Investments are included at cost less provision for any impairment. |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 3. | TURNOVER |
| The turnover and profit before taxation are attributable to the one principal activity of the company. |
| An analysis of turnover by geographical market is given below: |
| 2024 | 2023 |
| £ | £ |
| United Kingdom |
| 4. | EMPLOYEES AND DIRECTORS |
| 2024 | 2023 |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| The average number of employees during the year was as follows: |
| 2024 | 2023 |
| Production, sales and administration |
| 2024 | 2023 |
| £ | £ |
| Directors' remuneration |
| Information regarding the highest paid director for the year ended 30 November 2024 is as follows: |
| 2024 |
| £ |
| Emoluments etc |
| 5. | OPERATING PROFIT |
| The operating profit is stated after charging/(crediting): |
| 2024 | 2023 |
| £ | £ |
| Depreciation - owned assets |
| Depreciation - assets on hire purchase contracts |
| Profit on disposal of fixed assets | ( |
) |
| Auditors' remuneration |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 2024 | 2023 |
| £ | £ |
| Loan interest |
| 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 |
| Deferred tax | ( |
) |
| Tax on profit |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2024 | 2023 |
| £ | £ |
| Profit before tax |
| Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
| Effects of: |
| Expenses not deductible for tax purposes | ( |
) |
| Capital allowances in excess of depreciation | - | ( |
) |
| Depreciation in excess of capital allowances | - |
| allowance effect |
| Difference due to CT rate change | 1,945 | 11,159 |
| Super deduction | - | (1,627 | ) |
| Total tax charge | 179,785 | 229,807 |
| Tax effects relating to effects of other comprehensive income |
| There were no tax effects for the year ended 30 November 2024. |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 7. | TAXATION - continued |
| 2023 |
| Gross | Tax | Net |
| £ | £ | £ |
| Deferred tax on revaluation reserve | ( |
) | - | (24,483 | ) |
| 8. | DIVIDENDS |
| 2024 | 2023 |
| £ | £ |
| Interim |
| 9. | TANGIBLE FIXED ASSETS |
| Freehold | Short | Plant and |
| property | leasehold | machinery |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 December 2023 |
| Additions |
| Disposals |
| At 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| Eliminated on disposal |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 9. | TANGIBLE FIXED ASSETS - continued |
| Equipment | Motor |
| & fittings | vehicles | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 December 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| Cost or valuation at 30 November 2024 is represented by: |
| Freehold | Short | Plant and |
| property | leasehold | machinery |
| £ | £ | £ |
| Valuation in 2008 | 308,459 | - | - |
| Valuation in 2013 | 224,402 | - | - |
| Cost | 836,161 | 32,213 | 1,325,406 |
| 1,369,022 | 32,213 | 1,325,406 |
| Equipment | Motor |
| & fittings | vehicles | Totals |
| £ | £ | £ |
| Valuation in 2008 | - | - | 308,459 |
| Valuation in 2013 | - | - | 224,402 |
| Cost | 169,369 | 459,489 | 2,822,638 |
| 169,369 | 459,489 | 3,355,499 |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 9. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 December 2023 |
| and 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 10. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| COST |
| At 1 December 2023 |
| and 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: Cow House Lane, Armthorpe, Doncaster, South Yorkshire, DN3 3ED |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: Sidings House Sidings Court, Lakeside, Doncaster, South Yorkshire, DN4 5NU |
| Nature of business: |
| % |
| Class of shares: | holding |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 11. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 December 2023 |
| Additions |
| Disposals | ( |
) |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 12. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Stocks |
| 13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments |
| 14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts (see note 16) |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| VAT | 71 | - |
| Other creditors |
| Directors' current accounts | 85,720 | 129,815 |
| Accrued expenses |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts (see note 16) |
| Amounts owed to group undertakings |
| 16. | LEASING AGREEMENTS |
| Minimum lease payments under hire purchase fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| 17. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Hire purchase contracts | 27,834 | 56,652 |
| 18. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 210,705 | 220,512 |
| Deferred |
| tax |
| £ |
| Balance at 1 December 2023 |
| Change in tax rate |
| Timing differences | (9,807 | ) |
| Revaluation reserve |
| Change in tax rate, reval res |
| Balance at 30 November 2024 |
| The provision for deferred taxation relates to the tax effects of accelerated capital allowances. |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 19. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 35,000 | 35,000 |
| 20. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 December 2023 | 5,158,025 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Realisation of property revaluation gain from previous year |
7,318 |
- |
7,318 |
| Property revaluation from previous year |
- |
(7,318 |
) |
(7,318 |
) |
| At 30 November 2024 | 5,514,102 |
| 21. | CONTINGENT LIABILITIES |
| A cross guarantee exists between all members of the group, in favour of the group's bankers. |
| 22. | CAPITAL COMMITMENTS |
| 2024 | 2023 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| At the year-end, the company had capital commitments for plant and machinery of £270,450 (2023: £NIL). |
| 23. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| During the year, the company paid rent of £48,000 (2023: £36,000) and made sales of £NIL (2023: £NIL) from the ultimate parent undertaking, Armthorpe Glass Limited. |
| Related party balances with the company at the year end consist of amounts within trade creditors of £NIL (2023: £NIL), and trade debtors £NIL (2023: £NIL). |
| Included in creditors is £NIL (2023: £129,814.79) due to M Williams (Dec'd), representing the balance due on his directors loan account. The loan is interest free and has no formal repayment terms |
| ROUNDBRAND LIMITED (REGISTERED NUMBER: 02105739) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 24. | ULTIMATE CONTROLLING PARTY |
| The company's issued share capital is majority owned by the ultimate parent company, Armthorpe Glass Limited, a company registered in England and Wales |
| The ultimate controlling party is the directors of Armthorpe Glass Limited by virtue of holding interest in 100% of the ordinary share capital in Armthorpe Glass Limited. |
| The group consolidated accounts can be obtained from the Registrar of Companies (England and Wales), Companies House Crown Way, Cardiff, CF14 3UZ. |
| 25. | ULTIMATE PARENT COMPANY |
| The ultimate parent company is Armthorpe Glass Limited. The ultimate controlling party is Mr. J R Hilton by virtue of his 57% shareholding in that company. |