9h 3min, feb 13, 2026 y - Rochling Key WP Review

Description:

Manufacture industrial products
Goods only
No traded goods
FRS102
Walkthrough of manufacture process - ongoing
Substantive audit
Recognise Revenue upon despatch
10+2
No DB Pension scheme, no derivatives, SBP
Auditing to local PM £258k, Group £1m

GR workings - o/s

Journals testing - strong corroboration
- tab3,6,7,8,9

Sales/purchases cut-off
- no stock ledger impact considered

Fixed assets
-no productivity report
-no calibration of equip
-impairment no indicators

Intangibles
- goodwill; over 15 years on target budgets no formal VIU so MLP für local only

Inventory
-nil provisions; no work done to prove
- Stocktake; no issues
- no provisions; no testing of 0% items
- WIP take not done! - NA/MD doesn't understand
- no git

Receivables
-very healthy ageing

Confirmations
-bank pending
-debtors poor response; alternative
-legal rec'd; £41k accrued former employee asthma issues; email forward not attached
-tax done R&P; no issues
-intercompany received

Prepayments
-down payment for land, branch
- risks/rewards

Supplier statements
VAT health check

Accruals - o/s

Payroll
- trivial diff in rec
- s&l fine
Opex
- representative sample extrapolated trivial
- MLP
Other income
- disposal of f/a

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Date: