Ronset Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Ronset Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01673634 . The registered office is 10 Borough Road, Darwen, Lancashire, BB3 1PL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The company recognises revenue from the following major sources:

• Sale of goods

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

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.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15% reducing balance
Motor Vehicles	15% reducing balance
Computer Equipment	33% straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Ronset Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.6. 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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Ronset Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.9. 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.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2025: 10)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2025	519,524	27,778	29,918	577,220
Additions	1,744	-	3,127	4,871

As at 31 March 2026	521,268	27,778	33,045	582,091

Depreciation
As at 1 April 2025	355,679	12,211	26,777	394,667
Provided during the period	24,840	2,335	2,662	29,837

As at 31 March 2026	380,519	14,546	29,439	424,504

Net Book Value
As at 31 March 2026	140,749	13,232	3,606	157,587

As at 1 April 2025	163,845	15,567	3,141	182,553

5. Stocks

	2026	2025
	£	£
Stock	8,100	11,200
Work in progress	2,675	6,425

	10,775	17,625

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	91,150	105,384
Amounts owed by group undertakings	60,811	54,620
Other debtors	5,135	4,499

	157,096	164,503

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Ronset Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	24,808	39,453
Trade creditors	48,432	46,924
Bank loans and overdrafts	1,250	29,215
Other creditors	101,526	110,156
Taxation and social security	22,995	6,452

	199,011	232,200

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	49,270	74,077
Bank loans	-	1,250

	49,270	75,327

9. Secured Creditors

Of the creditors the following amounts are secured.

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	74,078	113,530
Bank loans and overdrafts	1,250	30,465

10. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	24,808	39,453
Later than one year and not later than five years	49,270	74,077

	74,078	113,530

	74,078	113,530

11. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	20,002	20,002

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Ronset Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

12. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	8,692	-
Later than one year and not later than five years	18,832	-

	27,524	-

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		157,587		182,553

			157,587		182,553
CURRENT ASSETS
Stocks	5	10,775		17,625
Debtors	6	157,096		164,503
Cash at bank and in hand		25,764		38,614

		193,635		220,742
Creditors: Amounts Falling Due Within One Year	7	(199,011 )		(232,200 )

NET CURRENT ASSETS (LIABILITIES)			(5,376 )		(11,458 )

TOTAL ASSETS LESS CURRENT LIABILITIES			152,211		171,095

Creditors: Amounts Falling Due After More Than One Year	8		(49,270 )		(75,327 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(29,942 )		(34,686 )

NET ASSETS			72,999		61,082

CAPITAL AND RESERVES
Called up share capital	11		20,002		20,002
Profit and Loss Account			52,997		41,080

SHAREHOLDERS' FUNDS			72,999		61,082