REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2024 TO 30 SEPTEMBER 2024 |
FOR |
ROAN FABRICATION LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2024 TO 30 SEPTEMBER 2024 |
FOR |
ROAN FABRICATION LIMITED |
ROAN FABRICATION LIMITED (REGISTERED NUMBER: 08760698) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Period 1 January 2024 to 30 September 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
ROAN FABRICATION LIMITED |
COMPANY INFORMATION |
For The Period 1 January 2024 to 30 September 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
4 Office Village |
Forder Way |
Cygnet Park, Hampton |
Peterborough |
Cambridgeshire |
PE7 8GX |
ROAN FABRICATION LIMITED (REGISTERED NUMBER: 08760698) |
STATEMENT OF FINANCIAL POSITION |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ROAN FABRICATION LIMITED (REGISTERED NUMBER: 08760698) |
STATEMENT OF FINANCIAL POSITION - continued |
30 September 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
ROAN FABRICATION LIMITED (REGISTERED NUMBER: 08760698) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Period 1 January 2024 to 30 September 2024 |
1. | STATUTORY INFORMATION |
Roan Fabrication Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
ROAN FABRICATION LIMITED (REGISTERED NUMBER: 08760698) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 January 2024 to 30 September 2024 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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. |
Material uncertainties relating to going concern |
The coronavirus pandemic has significantly disrupted individuals' personal lives and businesses' economic prospects in the UK and across the globe. The UK entered lockdown in March 2020 and some restrictions and social distancing provisions remain in place. |
Despite trading difficulties, we have managed to conserve sufficient cash to ensure that the business has continued to serve customers and to act responsibly with suppliers and employees. We have taken advantage of government assistance including the Coronavirus Job Retention Scheme. |
We have continued to prepare the accounts on a going concern basis and deem this appropriate. We do not consider that a material uncertainty about our going concern status currently exists. In making this assessment we have considered the likely trading conditions for a period of twelve months from the date of our approval of these accounts. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
ROAN FABRICATION LIMITED (REGISTERED NUMBER: 08760698) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 January 2024 to 30 September 2024 |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2024 |
and 30 September 2024 |
AMORTISATION |
At 1 January 2024 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 December 2023 |
6. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2024 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 December 2023 |
ROAN FABRICATION LIMITED (REGISTERED NUMBER: 08760698) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 January 2024 to 30 September 2024 |
6. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2024 |
Additions |
Disposals | ( |
) |
Reclassification/transfer | 150,034 |
At 30 September 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for period |
Eliminated on disposal | ( |
) |
Reclassification/transfer |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 December 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 10) |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 10) |
ROAN FABRICATION LIMITED (REGISTERED NUMBER: 08760698) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 January 2024 to 30 September 2024 |
10. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
2024 | 2023 |
£ | £ |
Gross obligations repayable: |
Within one year |
Between one and five years |
Finance charges repayable: |
Within one year |
Between one and five years |
Net obligations repayable: |
Within one year |
Between one and five years |
Obligations under finance leases and hire purchase contracts are secured on the assets to which they relate. |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
There was a loan outstanding due to the directors of £191 (2023:1,875) at the reporting date. |
The above loans are unsecured, interest free and repayable on demand. |