Rumbol Products Limited - Limited company - abbreviated

REGISTERED NUMBER: SC143263 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

RUMBOL PRODUCTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

N Ritchie

Mrs S Ritchie

Mrs E Talbot

REGISTERED OFFICE:

Clydegrove Works

14 Hamilton Street

Clydebank

Glasgow

G81 1LY

REGISTERED NUMBER:

SC143263 (Scotland)

ACCOUNTANTS:

McAllisters

Paxton House

11 Woodside Crescent

Glasgow

G3 7UL

FIXED ASSETS

Tangible assets

2

95,135

101,583

Investment property

3

120,000

52,750

215,135

154,333

CURRENT ASSETS

Stocks

321,162

334,760

Debtors

680,429

830,408

Cash at bank and in hand

1,154,063

842,311

2,155,654

2,007,479

CREDITORS

Amounts falling due within one year

139,183

88,561

NET CURRENT ASSETS

2,016,471

1,918,918

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,231,606

2,073,251

CAPITAL AND RESERVES

Called up share capital

4

31,595

Revaluation reserve

70,040

2,790

Other reserves

143,407

Profit and loss account

1,986,564

1,895,459

SHAREHOLDERS' FUNDS

2,231,606

2,073,251

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 4 September 2014 and were signed on its behalf
by:

Mrs E Talbot - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

In accordance with FRSSE the investment property has not been subjected to a periodic depreciation charge as it

is not held on lease.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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 a right to pay less) tax at a future date, at the tax

rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the asset.

Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be

recovered. Deferred tax assets and liabilities are not discounted.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Pension costs and other post-retirement benefits

Contributions payable to the company's pension scheme are charged to the profit and loss account in the period

to which they relate. Payments of £54,720 for staff and £21,400 for directors (£2013: £48,437 - staff, Directors -

£60,200) were made during the year.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

446,669

Additions

26,299

At 31 March 2014

472,968

DEPRECIATION

At 1 April 2013

345,086

Charge for year

32,747

At 31 March 2014

377,833

NET BOOK VALUE

At 31 March 2014

95,135

At 31 March 2013

101,583

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2013

52,750

Revaluations

67,250

At 31 March 2014

120,000

NET BOOK VALUE

At 31 March 2014

120,000

At 31 March 2013

52,750

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

31,595

Ordinary

£1

31,595

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Rumbol Products Limited for the year ended 31 March 2014 which comprise the Profit and Loss

Account, the Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other

professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Rumbol Products Limited, as a body, in accordance with our

terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

Rumbol Products Limited and state those matters that we have agreed to state to the Board of Directors of Rumbol

Products Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants

of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law,

we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for

our work or for this report.

It is your duty to ensure that Rumbol Products Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rumbol

Products Limited. You consider that Rumbol Products Limited is exempt from the statutory audit requirement for the

year.

We have not been instructed to carry out an audit or a review of the financial statements of Rumbol Products Limited.

For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

McAllisters

Paxton House

11 Woodside Crescent

Glasgow

G3 7UL

4 September 2014

Rumbol Products Limited - Limited company - abbreviated - 11.0.0

Rumbol Products Limited - Limited company - abbreviated - 11.0.0