Company registration number 01947688 (England and Wales)
ROLSON TOOLS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ROLSON TOOLS LIMITED
COMPANY INFORMATION
Directors
Mr S K Rajput
Mrs U Rajput
Mr S Rajput
(Appointed 24 January 2024)
Secretary
Mrs U Rajput
Company number
01947688
Registered office
Rolson House
London Road
Ruscombe
TWYFORD
RG10 9HZ
Auditor
Craufurd Hale Audit Services Limited
C/O Craufurd Hale Group
Ground Floor, Arena Court
Crown Lane
MAIDENHEAD
SL6 8QZ
Business address
Rolson House
London Road
Ruscombe
TWYFORD
RG10 9HZ
ROLSON TOOLS LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of income and retained earnings
7
Balance sheet
8
Statement of cash flows
9
Notes to the financial statements
10 - 21
ROLSON TOOLS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

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

Review of the business

The directors are satisfied with the company's performance during the year and are of the opinion that the company has continued to respond well to the principal risk of the ongoing economic difficulties facing parts of the world.

The directors are of the opinion that the company, having responded well to the economic recession, has now been able to take advantage of the economic recovery being experienced in many countries. However, the recovery is fragile and the challenges posed by a further economic recession continue to be the major risk and uncertainty facing the company.

Principal risks and uncertainties

The company has a credit risk if its major customers default on paying invoices and fail. This is mitigated by diligent credit control.

There is an exchange rate risk because a significant proportion of the company's purchases and sales are made in US Dollars or Euros. However, to some extent these offset one another.

Development and performance

The financial performance of the company is as disclosed on the statement of income and retained earnings. the financial position of the company at 31 December 2024 is as disclosed on the balance sheet.

Key performance indicators

The gross profit percentage has remained consistent at 25% (2023: 26%).

On behalf of the board

Mr S K Rajput
Director
17 November 2025
ROLSON TOOLS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of selling hand and power tools.

Branches

There are no overseas branches.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £300,000. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr S K Rajput
Mrs U Rajput
Mr S Rajput
(Appointed 24 January 2024)
Future developments

The directors are not aware at the date of signing this report of any likely changes to the principal activities over the next reporting period.

Auditor

The auditor, Craufurd Hale Audit Services Limited, were deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
Mr S K Rajput
Director
17 November 2025
ROLSON TOOLS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The directors are responsible for preparing the annual report 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; and

- 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.

ROLSON TOOLS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ROLSON TOOLS LIMITED
- 4 -
Opinion

We have audited the financial statements of Rolson Tools Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of income and retained earnings, the balance sheet, the statement of cash flows and notes to the financial statements, including 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 December 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 Auditor's 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

ROLSON TOOLS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ROLSON TOOLS LIMITED (CONTINUED)
- 5 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which 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 directors' r esponsibilities s tatement, 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 is 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.

Auditor's 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 an auditor's report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including non-compliance with laws and regulations, was as follows:

- the engagement director 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 management, and from our commercial knowledge and experience;

- we focussed 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 the Companies Act 2006, taxation legislation and data protection, anti-bribery and employment legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal fee expenditure; and

- identified laws and regulations were communicated within the audit team 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.

ROLSON TOOLS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ROLSON TOOLS LIMITED (CONTINUED)
- 6 -

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.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statements disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance; and

- enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of management and inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's report 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.

Christopher Rayner FCA (Senior Statutory Auditor)
For and on behalf of Craufurd Hale Audit Services Limited, Statutory Auditor
Chartered Accountants
Ground Floor
Arena Court
Crown Lane
MAIDENHEAD
SL6 8QZ
18 November 2025
ROLSON TOOLS LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
17,658,381
15,381,450
Cost of sales
(13,181,465)
(11,394,586)
Gross profit
4,476,916
3,986,864
Distribution costs
(443,621)
(396,921)
Administrative expenses
(2,672,678)
(2,467,886)
Operating profit
4
1,360,617
1,122,057
Interest receivable and similar income
7
7,640
539
Interest payable and similar expenses
8
(4,177)
(4,179)
Profit before taxation
1,364,080
1,118,417
Tax on profit
9
(341,307)
(267,002)
Profit for the financial year
1,022,773
851,415
Retained earnings brought forward
6,184,845
5,633,430
Dividends
10
(300,000)
(300,000)
Retained earnings carried forward
6,907,618
6,184,845

The profit and loss account has been prepared on the basis that all operations are continuing operations.

ROLSON TOOLS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 8 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
11
143,932
156,114
Current assets
Stocks
12
3,776,635
3,500,597
Debtors
13
7,837,536
6,575,172
Cash at bank and in hand
348,684
51,467
11,962,855
10,127,236
Creditors: amounts falling due within one year
14
(5,186,669)
(4,050,709)
Net current assets
6,776,186
6,076,527
Total assets less current liabilities
6,920,118
6,232,641
Creditors: amounts falling due after more than one year
15
-
0
(34,796)
Provisions for liabilities
Deferred tax liability
17
12,400
12,900
(12,400)
(12,900)
Net assets
6,907,718
6,184,945
Capital and reserves
Called up share capital
19
100
100
Profit and loss reserves
6,907,618
6,184,845
Total equity
6,907,718
6,184,945

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 17 November 2025 and are signed on its behalf by:
Mr S K Rajput
Director
Company registration number 01947688 (England and Wales)
ROLSON TOOLS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
24
1,040,097
324,976
Interest paid
(4,177)
(4,179)
Income taxes paid
(378,048)
(170,932)
Net cash inflow from operating activities
657,872
149,865
Investing activities
Purchase of tangible fixed assets
(31,000)
(7,372)
Proceeds from disposal of tangible fixed assets
9,100
35,280
Interest received
7,640
539
Net cash (used in)/generated from investing activities
(14,260)
28,447
Financing activities
Payment of finance leases obligations
(46,395)
(46,394)
Dividends paid
(300,000)
(300,000)
Net cash used in financing activities
(346,395)
(346,394)
Net increase/(decrease) in cash and cash equivalents
297,217
(168,082)
Cash and cash equivalents at beginning of year
51,467
219,549
Cash and cash equivalents at end of year
348,684
51,467
ROLSON TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
1
Accounting policies
Company information

Rolson Tools Limited is a private company limited by shares incorporated in England and Wales. The registered office is Rolson House, London Road, Ruscombe, TWYFORD, RG10 9HZ.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts 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
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.

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:

Leasehold improvements
Equal instalments over 20 years
Fixtures, fittings & equipment
20% per annum of the net book value
Motor vehicles
25% per annum of the net book value

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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs of sale if material. Adjustments are made as necessary to write-down damaged and obsolete stock.

Cost is calculated using the average cost method.

ROLSON TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 11 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets are measured at fair value, which is normally the transaction price. Any c hanges in fair value are recognised in profit or loss.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting end date.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current. Trade creditors are recognised at transaction price.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

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

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 or 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.

ROLSON TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 12 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the assets' fair value at the date of inception. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account on a striaght line basis as the amounts are not material.

1.13
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.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Sale of tools and other items
17,658,381
15,381,450
ROLSON TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3
Turnover and other revenue
(Continued)
- 13 -
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom and British Isles
16,021,361
13,862,843
Rest of Europe
1,424,321
1,361,417
Rest of World
212,699
157,190
17,658,381
15,381,450
2024
2023
£
£
Other revenue
Interest income
7,640
539
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange differences apart from those arising on financial instruments measured at fair value through profit or loss
11,471
(26,248)
Fees payable to the company's auditor for the audit of the company's financial statements
12,000
12,000
Depreciation of owned tangible fixed assets
38,302
51,676
Profit on disposal of tangible fixed assets
(4,220)
(16,868)
5
Employees

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

2024
2023
Number
Number
Management and administration
15
14
Sales
3
3
Warehouse
13
13
Total
31
30
ROLSON TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Employees
(Continued)
- 14 -

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
1,386,148
1,387,695
Social security costs
151,694
166,438
Pension costs
22,900
23,530
1,560,742
1,577,663
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
330,263
212,096
Company pension contributions to defined contribution schemes
2,642
1,321
332,905
213,417

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2023 - 1).

Remuneration disclosed above include the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
124,071
110,901
Company pension contributions to defined contribution schemes
1,321
-
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
7,640
539

Investment income includes the following:

Interest on financial assets
7,640
539
ROLSON TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 15 -
8
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost
Interest on bank overdrafts and loans
-
2
Other finance costs
Interest on finance leases and hire purchase contracts
4,177
4,177
4,177
4,179
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
341,759
268,000
Adjustments in respect of prior periods
48
(2,068)
Total current tax
341,807
265,932
Deferred tax
Origination and reversal of timing differences
(500)
1,070
Total tax charge
341,307
267,002

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
1,364,080
1,118,417
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.52%)
341,020
263,058
Tax effect of expenses that are not deductible in determining taxable profit
228
280
Gains not taxable
(1,055)
-
0
Depreciation in excess of capital allowances
1,566
4,710
Deferred tax adjustment
(500)
1,070
Under / (Over) provision in the current year
-
0
(48)
Over provision in prior years
48
(2,068)
Taxation charge for the year
341,307
267,002
ROLSON TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
10
Dividends
2024
2023
£
£
Interim paid
300,000
300,000
11
Tangible fixed assets
Leasehold improvements
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
105,629
758,676
71,474
935,779
Additions
-
0
31,000
-
0
31,000
Disposals
-
0
(44,725)
(5,500)
(50,225)
At 31 December 2024
105,629
744,951
65,974
916,554
Depreciation and impairment
At 1 January 2024
105,628
640,653
33,384
779,665
Depreciation charged in the year
-
0
29,024
9,278
38,302
Eliminated in respect of disposals
-
0
(40,824)
(4,521)
(45,345)
At 31 December 2024
105,628
628,853
38,141
772,622
Carrying amount
At 31 December 2024
1
116,098
27,833
143,932
At 31 December 2023
1
118,023
38,090
156,114

Included within tangible fixed assets are assets held under finance leases or hire purchase contracts, as follows:

2024
2023
£
£
Fixtures, fittings & equipment
27,833
51,787
Motor vehicles
41,430
37,111
69,263
88,898
12
Stocks
2024
2023
as restated
£
£
Goods for resale
3,776,635
3,500,597
ROLSON TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,121,411
3,345,533
Other debtors
3,239,389
3,084,521
Prepayments and accrued income
476,736
145,118
7,837,536
6,575,172
14
Creditors: amounts falling due within one year
2024
2023
as restated
Notes
£
£
Obligations under finance leases
16
34,795
46,394
Trade creditors
3,946,058
2,791,250
Corporation tax
231,759
268,000
Other taxation and social security
267,043
211,358
Other creditors
136,500
187,198
Accruals and deferred income
570,514
546,509
5,186,669
4,050,709

The directors consider that the carrying amount of trade payables approximates to their fair value.

Fixed and floating charges over the undertaking and all property and assets, present and future, including goodwill, bookdebts, uncalled capital, buildings, fixtures, fixed plant and machinery is in place regarding the £nil (2023: £nil) invoice discounting balance.

15
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
16
-
0
34,796
16
Finance lease obligations
2024
2023
Amounts due:
£
£
Within one year
34,795
46,394
After more than one year
-
0
34,796
34,795
81,190
ROLSON TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16
Finance lease obligations
(Continued)
- 18 -
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
34,795
46,394
In two to five years
-
0
34,796
34,795
81,190

Hire purchase payments represent amounts payable by the company for certain motor vehicles and plant and machinery. Hire purchase include purchase options at the end of the agreement period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent payments.

17
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
12,400
12,900
2024
Movements in the year:
£
Liability at 1 January 2024
12,900
Credit to profit or loss
(500)
Liability at 31 December 2024
12,400

The deferred tax liability set out above relates to accelerated capital allowances.

18
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
22,900
23,530

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

ROLSON TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
19
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100

The company has one class of ordinary shares which carry no right to fixed income

20
Financial commitments, guarantees and contingent liabilities

A debenture is in place with the company's bankers, with a fixed and floating charge over the undertaking and all property and assets, present and future, including goodwill, uncalled capital, buildings, fixtures, plant and machinery, relating to all monies due, or to become due, from the company to the chargee on any account whatsoever.

A mortgage debenture is in place with the company's bankers, with a specific equitable charge over all freehold and leasehold properties and/or the proceeds of sale thereof and fixed and floating charges over the undertaking and all property and assets, present and future, including goodwill, bookdebts and the benefits of any licences relating to all monies due, or to become due, from the chargee on any account whatsoever.

A fixed and floating charge is in place with the discounting provider, with a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, bookdebts, uncalled capital, buildings, fixtures, fixed plant and machinery relating to all monies due, or to become due, from the company to the chargee under the terms of the instrument creating, or evidencing, the charge.

A guarantee of £1,264,000 is in place with the directors and close family bankers via a debenture with the company.

21
Related party transactions

Purchases from Rolson India, a company controlled by the company director and shareholder, totalled £604,503 (2023: £827,215) with amounts payable totalling £100,000 (2023: £33,214) included in creditors.

Sales to Sachshal Limited, a company with directors and shareholders in common, totalled £108,823 (2023: £233,573) with amounts receivable totalling £5,860 (2023: £11,190) included in debtors.

Rentals paid to Sachshal Estates Limited, a company with directors in common, totalled £60,000 (2023: £30,000).

Remuneration was paid to the close members of the directors' family during the year totalling £58,495 (2023: £201,787).

22
Directors' transactions

Dividends totalling £300,000 (2023: £300,000) were paid in the year in respect of shares held by the company's directors.

The directors' loan account was not overdrawn in the year.

Rent payable under tenancies at will to directors totalled £360,000 (2023: £330,000).

ROLSON TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 20 -
23
Ultimate controlling party

Throughout the current and previous year the company was controlled by Mr S K Rajput and Mrs U Rajput, company directors, by virtue of owning 100% of the issued ordinary share capital.

24
Cash generated from operations
2024
2023
as restated
£
£
Profit after taxation
1,022,773
851,415
Adjustments for:
Taxation charged
341,307
267,002
Finance costs
4,177
4,179
Investment income
(7,640)
(539)
Gain on disposal of tangible fixed assets
(4,220)
(16,868)
Depreciation and impairment of tangible fixed assets
38,302
51,676
Movements in working capital:
(Increase)/decrease in stocks
(276,038)
744,521
Increase in debtors
(1,262,364)
(2,329,735)
Increase in creditors
1,183,800
753,325
Cash generated from operations
1,040,097
324,976
25
Analysis of changes in net funds/(debt)
1 January 2024
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
51,467
297,217
348,684
Lease liabilities
(81,190)
46,395
(34,795)
(29,723)
343,612
313,889
26
Prior period adjustment
Reconciliation of changes in equity
The prior period adjustments do not give rise to any effect upon equity.
Reconciliation of changes in profit for the previous financial period
2023
£
Total adjustments
-
Profit as previously reported
851,415
Profit as adjusted
851,415
ROLSON TOOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
26
Prior period adjustment
(Continued)
- 21 -
Notes to reconciliation

The prior year comparatives have been restated to reflect goods in transit amounting to £510,555 under free on board terms. This adjustment has resulted in an increase in stocks and a corresponding increase in accruals included within creditors: amounts falling due within one year. There is no impact on profit for the comparative period.

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