D A English Roses Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10587418 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2019

FOR

D A ENGLISH ROSES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr D J C Austin

REGISTERED OFFICE:

Bowling Green Lane

Albrighton

Wolverhampton

West Midlands

WV7 3HB

REGISTERED NUMBER:

10587418 (England and Wales)

AUDITORS:

Stanton Ralph & Co Limited

Chartered Accountants

Statutory Auditor

The Old Police Station

Whitburn Street

Bridgnorth

Shropshire

WV16 4QP

BANKERS:

HSBC Bank plc

Lichfield Street

PO Box 33

9 Queen Square

Wolverhampton

West Midlands

WV1 1TE

FIXED ASSETS

3,545,836

Investments

3

-

135,953

Investment property

4

172,500

3,681,789

172,500

CURRENT ASSETS

5,870,579

Cash at bank

50,257

CREDITORS

4,200

Amounts falling due within one year

5

104,591

5,866,379

NET CURRENT (LIABILITIES)/ASSETS

(54,334

)

9,548,168

TOTAL ASSETS LESS CURRENT LIABILITIES

118,166

54,724

PROVISIONS FOR LIABILITIES

6,944

9,493,444

NET ASSETS

111,222

CAPITAL AND RESERVES

9,467,814

Called up share capital

7

1

25,630

Retained earnings

8

111,221

9,493,444

SHAREHOLDERS' FUNDS

111,222

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 2nd March 2020 and were signed by:

Mr D J C Austin - Director

1.	STATUTORY INFORMATION

D A English Roses 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements contain information about D A English Roses Limited as an individual company.

Investment property

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

fair value is recognised in profit or loss.

Investments

Investments in listed shares are valued at fair value where publicly traded and gains and losses are adjusted in the

profit and loss account in line with FRS102.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive

income, 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 year 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.

Interest receivable

Interest income is recognised using the effective interest method.

Other income

Other income comprises income from listed investments, rents received and any increases arising from fair value

adjustments of listed investments.

Debtors and creditors receivable/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

administration expenses.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets

have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amounts of

any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is

lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised

immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate

of its recoverable amount, but not in excess of the amount that would have been determined had no impairment

loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised immediately

in the income statement.

3.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST

At 1st August 2018

3,545,836

Additions

865,930

Disposals

(4,411,766

)

At 31st July 2019

-

NET BOOK VALUE

At 31st July 2019

-

At 31st July 2018

3,545,836

On 1st May 2019 the company disposed of its listed investments to its parent undertaking at market value.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st August 2018

135,953

Revaluations

36,547

At 31st July 2019

172,500

NET BOOK VALUE

At 31st July 2019

172,500

At 31st July 2018

135,953

The investment property was acquired on 15 May 2017 from David Austin Roses Limited at a cost of £135,953.

On 3 October 2019 the property was sold for £172,500. The property has been revalued to that amount as the

directors believe it represents a reasonable assessment of the closing market value.

Fair value at 31st July 2019 is represented by:

£

Valuation in 2019

36,547

Cost

135,953

172,500

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Amounts owed to group undertakings

100,391

-

Accrued expenses

4,200

4,200

104,591

4,200

6.	SECURED DEBTS

An unlimited Multilateral Guarantee dated 11th October 2017 has been given by the company and its now fellow

subsidiary undertakings, David Austin Roses Limited and David Austin Rose Nursery Limited in favour of the

company's bankers. In October 2019 a new guarantee has been given by the above companies together with the

parent undertaking David Austin Roses (Holdings) Limited.

A cross guarantee exists between these group companies whereby certain compensating bank balances are offset

against each other. As at the company's balance sheet date, the company has no overdrawn bank balances subject

to this offset.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.19

31.7.18

value:

£

£

1

Ordinary

£1

1

1

9,467,813

Redeemable preference

£1

-

9,467,813

1

9,467,814

The redeemable preference shares were redeemed in full, for cash, during the year as follows:

19 July 2019 3,000,000

25 July 2019 3,000,000

29 July 2019 3,467,813

8.

RESERVES

Retained earnings

Retained earnings represents cumulative profits and losses net of dividends and other adjustments. It also

includes an amount of £36,547 (2018: £92,325) which represents the gains on the fair value of listed investments

and the investment property. In accordance with FRS102, this amount is considered non-distributable.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Adrian Ralph (Senior Statutory Auditor)

for and on behalf of Stanton Ralph & Co Limited

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with its parent undertaking or fellow subsidiary undertakings within the group.

11.	POST BALANCE SHEET EVENTS

On 3 October 2019 the investment property was sold for £172,500.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director by virtue of his ownership of the parent undertaking and his

ultimate responsibility for all group operating decisions.

13.	ULTIMATE PARENT UNDERTAKING

The company's parent undertaking to 31 July 2018 was David Austin Roses Limited, who prepared group

accounts. The registered office of David Austin Roses Limited is Bowling Green Lane, Albrighton, Shropshire,

WV7 3HB.

On 1 August 2018, David Austin Roses (Holdings) Limited became the company's parent undertaking, who now

prepare group accounts. The registered office of David Austin Roses (Holdings) Limited is Bowling Green Lane,

Albrighton, Shropshire, WV7 3HB.

14.	CONTINGENT ASSETS AND LIABILITIES

During the year David Austin Roses Limited has entered into derivative contracts in order to partially hedge its

foreign exchange risks arising from anticipated future trading activities in foreign currencies. No contracts were

held at the year end.

At 31st July 2018 the contracts held were measured at fair value and adjusted in the profit and loss account in

that company.

The company has entered into bank cross guarantees with its now fellow subsidiary undertakings David Austin

Roses Limited and David Austin Rose Nursery Limited. There were obligations under these guarantees at 31st

July 2019 of £Nil (2018: £Nil). In October 2019 the parent undertaking David Austin Roses (Holdings) Limited

became party to a cross guarantee.