Rumbol Products Limited
Rumbol Products Limited
Registered number: SC143263
Unaudited Financial Statements
For The Year Ended
31 March 2020
Donn Sheldon
21 Forbes Place
Paisley
PA1 1UT
Rumbol Products Limited
Unaudited Financial Statements
For The Year Ended
31 March 2020
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Rumbol Products Limited
Balance Sheet
As at
31 March 2020
Balance Sheet
Registered number:
SC143263
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Stocks | 4 |
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| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
( |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Provisions For Charges |
( |
( |
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| Deferred Taxation |
( |
( |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Revaluation reserve | 8 |
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| Capital redemption reserve |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 1,534,127 | 1,525,562 | |||
Page 1
Rumbol Products Limited
Balance Sheet (continued)
As at
31 March 2020
Directors' responsibilities
-
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges 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. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
|
Director
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Rumbol Products Limited
Notes to the Financial Statements
For The Year Ended
31 March 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
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:
| Improvements to Property |
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| Plant & Machinery |
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| Motor Vehicles |
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| Fixtures & Fittings |
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| Computer Equipment |
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1.4.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
1.5.
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.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 14 (2019: 19)
Page 3
Rumbol Products Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
3.
Tangible Assets
| Land & Property | ||||
|---|---|---|---|---|
| Improvements to Property | Investment Properties | Plant & Machinery | Motor Vehicles | |
| £ | £ | £ | £ | |
| Cost or Valuation | ||||
| As at
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| Additions |
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- |
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| Disposals |
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( |
| As at
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| Depreciation | ||||
| As at
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| Provided during the period |
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- |
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| Disposals |
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( |
| As at
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| Net Book Value | ||||
| As at
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| As at
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| Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost or Valuation | |||
| As at
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| Additions |
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| Disposals |
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( |
| As at
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| Depreciation | |||
| As at
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| Provided during the period |
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| Disposals |
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( |
| As at
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| Net Book Value | |||
| As at
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| As at
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Page 4
Rumbol Products Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
The analysis of the cost or valuation of the above assets is as follows:
| Land & Property | ||||
|---|---|---|---|---|
| Improvements to Property | Investment Properties | Plant & Machinery | Motor Vehicles | |
| £ | £ | £ | £ | |
| As at
|
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| At cost | 429,401 | 275,000 | 545,099 | - |
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| As at
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| At cost | 427,741 | 194,070 | 511,466 | 26,990 |
| At valuation | - | 80,930 | - | - |
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| Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at
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| At cost | 64,132 | 23,310 | 1,336,942 |
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1,336,942 | |
| As at
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| At cost | 64,132 | 11,109 | 1,235,508 |
| At valuation | - | - | 80,930 |
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1,316,438 | |
4.
Stocks
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Stock - materials |
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5.
Debtors
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
( |
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| Prepayments and accrued income |
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| Other debtors |
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| Scottoiler Sports Solutions |
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| VAT |
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Page 5
Rumbol Products Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
6.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Other taxes and social security |
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| Other creditors |
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| Accruals and deferred income |
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8.
Reserves
| Revaluation Reserve | |
|---|---|
| £ | |
| As at
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| As at
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9.
General Information
Rumbol Products Limited
is a private company, limited by shares, incorporated in Scotland, registered number
SC143263
. The registered office is 21 Forbes Place, Paisley, PA1 1UT.
Page 6