Rohallion Ltd Company accounts

Rohallion Ltd Company accounts

ROHALLION LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: SC543570
Rohallion Ltd
Unaudited Abridged Financial Statements
31 August 2020
Rohallion Ltd
Abridged Financial Statements
Year ended 31 August 2020
Contents
Page
Director's report
1
Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements
2
Income statement
3
Abridged statement of financial position
4
Notes to the abridged financial statements
6
Rohallion Ltd
Director's Report
Year ended 31 August 2020
The director presents his report and the unaudited abridged financial statements of the company for the year ended 31 August 2020 .
Director
The director who served the company during the year was as follows:
Mr D E Davidson
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 19 April 2021 and signed on behalf of the board by:
Mr D E Davidson
Director
Registered office:
48 Court Street
Haddington
Est Lothian
EH41 3NP
Rohallion Ltd
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of Rohallion Ltd
Year ended 31 August 2020
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the abridged financial statements of Rohallion Ltd for the year ended 31 August 2020, which comprise the income statement, abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given me. As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Rohallion Ltd in accordance with the terms of my engagement letter dated 1 September 2016. My work has been undertaken solely to prepare for your approval the abridged financial statements of Rohallion Ltd and state those matters that I have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Rohallion Ltd and its director for my work or for this report.
It is your duty to ensure that Rohallion Ltd has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rohallion Ltd. You consider that Rohallion Ltd is exempt from the statutory audit requirement for the year. I have not been instructed to carry out an audit or a review of the abridged financial statements of Rohallion Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory abridged financial statements.
CAMERON & CO Chartered accountants
48 Court Street Haddington East Lothian EH41 3NP
7 April 2021
Rohallion Ltd
Income Statement
Year ended 31 August 2020
2020
2019
Note
£
£
Turnover
60,007
46,565
Cost of sales
17,687
16,922
--------
--------
Gross profit
42,320
29,643
Administrative expenses
26,527
24,627
--------
--------
Operating profit
15,793
5,016
Other interest receivable and similar income
1
4
--------
--------
Profit before taxation
5
15,794
5,020
Tax on profit
3,030
1,111
--------
-------
Profit for the financial year
12,764
3,909
--------
-------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
Rohallion Ltd
Abridged Statement of Financial Position
31 August 2020
2020
2019
Note
£
£
Fixed assets
Tangible assets
6
1,211
1,365
Current assets
Debtors
4,816
1,645
Cash at bank and in hand
21,994
4,106
--------
-------
26,810
5,751
Creditors: amounts falling due within one year
11,851
5,704
--------
-------
Net current assets
14,959
47
--------
-------
Total assets less current liabilities
16,170
1,412
Creditors: amounts falling due after more than one year
11,434
–
--------
-------
Net assets
4,736
1,412
--------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
4,735
1,411
-------
-------
Shareholder funds
4,736
1,412
-------
-------
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 August 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 August 2020 in accordance with Section 444(2A) of the Companies Act 2006.
Rohallion Ltd
Abridged Statement of Financial Position (continued)
31 August 2020
These abridged financial statements were approved by the board of directors and authorised for issue on 19 April 2021 , and are signed on behalf of the board by:
Mr D E Davidson
Director
Company registration number: SC543570
Rohallion Ltd
Notes to the Abridged Financial Statements
Year ended 31 August 2020
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 48 Court Street, Haddington, Est Lothian, EH41 3NP.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year net of VAT.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2019: 1 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2020
2019
£
£
Depreciation of tangible assets
1,044
821
-------
----
6. Tangible assets
£
Cost
At 1 September 2019
3,282
Additions
890
-------
At 31 August 2020
4,172
-------
Depreciation
At 1 September 2019
1,917
Charge for the year
1,044
-------
At 31 August 2020
2,961
-------
Carrying amount
At 31 August 2020
1,211
-------
At 31 August 2019
1,365
-------