Company Registration No. 06822008 (England and Wales)
Roper Finishing Solutions Limited
Unaudited accounts
for the year ended 31 March 2019
Roper Finishing Solutions Limited
Unaudited accounts
Contents
Roper Finishing Solutions Limited
Company Information
for the year ended 31 March 2019
Directors
Jonathan Peter Frost
Julie Jean Frost
Deryck Robert Illingworth
Company Number
06822008 (England and Wales)
Registered Office
Units 5 & 6
Wonastow Industrial Estate (West)
Monmouth
Monmouthshire
NP25 5JA
Accountants
XAU Accountancy
41 Brynglas
Hollybush
Cwmbran
Torfaen
NP44 7LH
Roper Finishing Solutions Limited
Statement of financial position
as at
31 March 2019
Tangible assets
30,832
20,541
Investment property
-
3,995
Inventories
15,426
21,850
Cash at bank and in hand
858,839
534,361
Creditors: amounts falling due within one year
(262,986)
(169,859)
Net current assets
816,473
508,739
Total assets less current liabilities
847,305
533,275
Creditors: amounts falling due after more than one year
(17,076)
(24,643)
Provisions for liabilities
Net assets
830,229
510,346
Called up share capital
4
4
Profit and loss account
830,225
510,342
Shareholders' funds
830,229
510,346
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 13 December 2019.
Jonathan Peter Frost
Director
Company Registration No. 06822008
Roper Finishing Solutions Limited
Notes to the Accounts
for the year ended 31 March 2019
Roper Finishing Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 06822008. The registered office is Units 5 & 6, Wonastow Industrial Estate (West), Monmouth, Monmouthshire, NP25 5JA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Motor vehicles
25% Reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Expenditure on research and development is written off in the year in which it is incurred.
Roper Finishing Solutions Limited
Notes to the Accounts
for the year ended 31 March 2019
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Profit before taxation is stated after charging depreciation.
Depreciation of tangible assets for this year amounted to £6,539.00.
4
Intangible fixed assets
Goodwill
Roper Finishing Solutions Limited
Notes to the Accounts
for the year ended 31 March 2019
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2018
24,066
33,338
38,018
95,422
Additions
-
-
12,835
12,835
Transfer from investment property
3,995
-
-
3,995
At 31 March 2019
28,061
33,338
50,853
112,252
At 1 April 2018
24,066
32,531
18,284
74,881
Charge for the year
799
807
4,933
6,539
At 31 March 2019
24,865
33,338
23,217
81,420
At 31 March 2019
3,196
-
27,636
30,832
At 31 March 2018
-
807
19,734
20,541
6
Investment property
2019
Fair value at 1 April 2018
3,995
Transfers to tangible fixed assets
(3,995)
Capitalised legal costs associated with aborted property purchase.
Raw materials
11,221
13,622
Work in progress
4,205
8,228
Trade debtors
167,433
109,785
Accrued income and prepayments
25,491
-
Other debtors
12,270
12,602
Roper Finishing Solutions Limited
Notes to the Accounts
for the year ended 31 March 2019
9
Creditors: amounts falling due within one year
2019
2018
Trade creditors
53,030
37,549
Taxes and social security
115,827
55,290
Other creditors
23,179
23,179
Loans from directors
37,074
45,456
10
Creditors: amounts falling due after more than one year
2019
2018
Other creditors
17,076
24,643
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan
(41,727)
12,388
-
(29,339)
Deryck Robert Illingworth
Directors Loan
(3,729)
-
4,006
(7,735)
(45,456)
12,388
4,006
(37,074)
During the year the directors entered into the above advances and credits with the company.
12
Transactions with related parties
During the year the company entered into the following transactions with related parties.
RFS EMC Division Limited
Transaction value: £ 0 (2018: £3,000)
Balance owed to: £ 0 (2018: £0)
RFS EMC Division Limited - A company which Mr J P Frost holds 50% of the issued share capital.
13
Average number of employees
During the year the average number of employees was 9 (2018: 9).