Roobarb Retail Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08881681 (England and Wales)

ROOBARB RETAIL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2017 TO 27 FEBRUARY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr K Bellwood

Miss M Dale

REGISTERED OFFICE:

183 Walsall Road

Great Wyrley

Walsall

West Midlands

WS6 6NL

REGISTERED NUMBER:

08881681 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,819

2,140

CURRENT ASSETS

Stocks

34,000

28,500

Debtors

5

8,567

2,802

Cash at bank and in hand

350

954

42,917

32,256

CREDITORS

Amounts falling due within one year

6

62,129

36,241

NET CURRENT LIABILITIES

(19,212

)

(3,985

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(17,393

)

(1,845

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(17,493

)

(1,945

)

SHAREHOLDERS' FUNDS

(17,393

)

(1,845

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 February 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 February 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 25 February 2019 and were signed on its behalf by:

Mr K Bellwood - Director

1.	STATUTORY INFORMATION

Roobarb Retail Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the end of the financial year the balance sheet shows net liabilities. The company is supported by a loan from

the directors and they have confirmed that they will not seek repayment until the company is able to do so.

Accordingly, these accounts have been prepared on the going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of value added tax and

trade discounts. The policies adopted for the recognition of turnover are as follows:

Tangible fixed assets

Tangible fixed assets are included at cost less accumulated depreciation and impairment. Cost includes costs

directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated

residual value, of each asset on a systematic basis over its expected useful lives as follows:

Fixtures and fittings

- 15% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes

all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and

condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and

slow-moving stock were appropriate.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Debtors and creditors receivable or payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement

constitutes a finance transaction it is measured at present value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 March 2017

and 27 February 2018

3,484

DEPRECIATION

At 1 March 2017

1,344

Charge for period

321

At 27 February 2018

1,665

NET BOOK VALUE

At 27 February 2018

1,819

At 28 February 2017

2,140

5.

DEBTORS

27.2.18

28.2.17

£

£

Amounts falling due within one year:

Other debtors

-

52

Amounts falling due after more than one year:

Other debtors

8,567

2,750

Aggregate amounts

8,567

2,802

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

27.2.18

28.2.17

£

£

Bank loans and overdrafts

10,407

1,063

Taxation and social security

40

1,086

Other creditors

51,682

34,092

62,129

36,241

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

27.2.18

28.2.17

value:

£

£

100

Ordinary

£1

100

100

8.	RELATED PARTY DISCLOSURES

At the end of the financial year the company owed its directors £ 40,823 (2017: £30,861) The loan was interest

free and repayable on demand.