Company Registration No. 02277753 (England and Wales)
ROSSENDALE VULCANISING SALES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
ROSSENDALE VULCANISING SALES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ROSSENDALE VULCANISING SALES LTD
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
72,628
81,895
Current assets
Stocks
169,614
173,463
Debtors
6
419,122
454,769
Cash at bank and in hand
2,235
25,077
590,971
653,309
Creditors: amounts falling due within one year
7
(685,492)
(668,090)
Net current liabilities
(94,521)
(14,781)
Total assets less current liabilities
(21,893)
67,114
Creditors: amounts falling due after more than one year
8
(33,718)
(52,845)
Provisions for liabilities
-
0
(13,490)
Net (liabilities)/assets
(55,611)
779
Capital and reserves
Called up share capital
1
1
Capital redemption reserve
1
1
Profit and loss reserves
(55,613)
777
Total equity
(55,611)
779
ROSSENDALE VULCANISING SALES LTD
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -

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

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved and signed by the director and authorised for issue on 10 December 2025
Mr J Holland
Director
Company Registration No. 02277753
ROSSENDALE VULCANISING SALES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information

Rossendale Vulcanising Sales Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Britannia Mill, Stoneholme Road, Crawshawbooth, Rossendale, BB4 8BA.

1.1
Accounting convention

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

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement 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.

1.3
Tangible fixed assets

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

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

Plant and equipment
20% Reducing Balance
Fixtures and fittings
20% Reducing Balance
Motor vehicles
25% Reducing Balance

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.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

ROSSENDALE VULCANISING SALES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash at bank and in hand

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

1.7
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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8
Taxation

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

Current tax

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

Deferred tax

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

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

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

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

1.10
Retirement benefits

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

ROSSENDALE VULCANISING SALES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -
1.11
Leases

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

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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
Employees

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

2024
2023
Number
Number
Total
13
13
4
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
120,000
Amortisation and impairment
At 1 September 2023 and 31 August 2024
120,000
Carrying amount
At 31 August 2024
-
0
At 31 August 2023
-
0
ROSSENDALE VULCANISING SALES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
5
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2023
56,478
22,084
101,250
179,812
Additions
7,872
3,017
-
0
10,889
At 31 August 2024
64,350
25,101
101,250
190,701
Depreciation and impairment
At 1 September 2023
38,377
14,348
45,192
97,917
Depreciation charged in the year
4,339
1,802
14,015
20,156
At 31 August 2024
42,716
16,150
59,207
118,073
Carrying amount
At 31 August 2024
21,634
8,951
42,043
72,628
At 31 August 2023
18,101
7,736
56,058
81,895
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
294,745
381,717
Corporation tax recoverable
17,470
9,620
Other debtors
106,907
63,432
419,122
454,769
ROSSENDALE VULCANISING SALES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
203,249
241,471
Trade creditors
412,322
368,348
Corporation tax
5,190
7,003
Other taxation and social security
51,723
35,276
Other creditors
1,298
5,029
Accruals and deferred income
11,710
10,963
685,492
668,090

Other bank loans and overdrafts of £9,192 (2023 - £9,132) are secured by fixed and floating charges over the assets of the company.

Bank loans of £8,724 (2023 - £8,544) due to NatWest bank are supported by the Bounce Back Loan Scheme (BBLS). The full guarantee is provided by the UK Government.

Invoice financing balances of £185,333 (2023 - £223,795) are secured against the assets to which they relate.

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
33,718
52,845

Other bank loans and overdrafts of £25,251 (2023 - £33,292) are secured by fixed and floating charges over the assets of the company.

Bank loans of £8,467 (2023 - £19,553) due to NatWest bank are supported by the Bounce Back Loan Scheme (BBLS). The full guarantee is provided by the UK Government.

9
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
5,083
5,640

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.

10
Related party transactions

At the balance sheet date an amount of £52,049 (2023 - £36,673) was owed to the company by a director. The balance is repayable on demand and interest of £1,117 (2023 - £816) has been charged.

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