Rooted Developments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03590326 (England and Wales)

Financial Statements for the Year Ended 30 June 2021

for

Rooted Developments Ltd

Page

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr L Delcassian

Ms D Delcassian

Ms S Delcassian

SECRETARY:

Mr L Delcassian

REGISTERED OFFICE:

Peel House

30 The Downs

Altrincham

Cheshire

WA14 2PX

REGISTERED NUMBER:

03590326 (England and Wales)

ACCOUNTANTS:

HLP Ltd

Accounting and Tax Solutions

Hillgate Place

77 Middle Hillgate

Stockport

Cheshire

SK1 3EH

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

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

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

the financial statements of Rooted Developments Ltd for the period ended 30 June 2021 which comprises 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.

This report is made solely to the Board of Directors of Rooted Developments Ltd, as a body, in accordance

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

financial statements of Rooted Developments Ltd and state those matters that we have agreed to state to the

Board of Directors of Rooted Developments Ltd, as a body, and for no other purpose. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and the Board

of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rooted Developments Ltd has kept adequate accounting records and to prepare

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

or loss of Rooted Developments Ltd. You consider that Rooted Developments Ltd is exempt from the

statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Rooted

Developments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting

records or information and explanations you have given us and we do not, therefore, express any opinion on

the statutory financial statements.

HLP Ltd

Accounting and Tax Solutions

Hillgate Place

77 Middle Hillgate

Stockport

Cheshire

SK1 3EH

19 July 2022

FIXED ASSETS

Tangible assets

4

125,319

125,413

CURRENT ASSETS

Stocks

109,872

16,875

Debtors

5

57

394

Cash at bank and in hand

17,717

8,307

127,646

25,576

CREDITORS

Amounts falling due within one year

6

135,885

33,056

NET CURRENT LIABILITIES

(8,239

)

(7,480

)

TOTAL ASSETS LESS CURRENT LIABILITIES

117,080

117,933

CREDITORS

Amounts falling due after more than one year

7

130,874

130,874

NET LIABILITIES

(13,794

)

(12,941

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

(13,994

)

(13,141

)

SHAREHOLDERS' FUNDS

(13,794

)

(12,941

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 July 2022 and were signed on its behalf by:

Ms D Delcassian - Director

1.	STATUTORY INFORMATION

Rooted Developments Ltd 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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements,

estimates and assumptions about the carrying amount of assets and liabilities that are not readily

apparent from other sources. The estimates and associated assumptions are based on historical

experience and other factors that are considered to be relevant. Actual results may differ from these

estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where the revision affects only

that period, or in the period of the revision and future periods where the revision affects both current

and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

not provided

Fixtures and fittings

-

10% on cost

Computer equipment

-

33% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and

Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the

company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements,

when there is a legally enforceable right to set off the recognised amounts and there is an intention to

settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other receivables and cash and bank balances, are

initially measured at transaction price including transaction costs and are subsequently carried at

amortised cost using the effective interest method unless arrangement constitutes a financing

transaction, where the transaction is measured at the present value of the future receipts discounted at

a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group

companies and preference shares that are classified as debt, are initially recognised at transaction

price unless the arrangement constitutes a financing transaction, where the debt instrument is

measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary

course of business from the suppliers. Accounts payable are classified as current liabilities if payment

is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are

recognised initially at transaction price and subsequently measured at amortised cost using the

effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss

Account and Retained Earnings, 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.

Going concern

The financial statements have been prepared on a going concern basis. This may not be appropriate

because the company's liabilities exceed its assets.

In the opinion of the directors this basis is correct in that the company has adequate ongoing financial

support from the creditors the largest of which is the bank who are owed £130,874 as at 30 June 2021.

Should the company be unable to continue trading then adjustments would have to be made to reduce

the value of the assets to their recoverable amount, provide for any further liabilities which arise and to

reclassify fixed assets as current assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2020

and 30 June 2021

124,832

8,750

1,050

134,632

DEPRECIATION

At 1 July 2020

-

8,310

909

9,219

Charge for year

-

73

21

94

At 30 June 2021

-

8,383

930

9,313

NET BOOK VALUE

At 30 June 2021

124,832

367

120

125,319

At 30 June 2020

124,832

440

141

125,413

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

57

394

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

6,026

6,026

Trade creditors

1,994

19,683

Taxation and social security

1,457

1,635

Other creditors

126,408

5,712

135,885

33,056

Included within bank overdrafts is an amount of £6,026 owed to HSBC plc which is in dispute. The

company has engaged the Financial Ombudsman Service to seek a fair settlement for all parties. No

provision has been made for any future charges or interest arising on this amount as the directors are

of the opinion that none are due.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

130,874

130,874

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

130,874

130,874

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

130,874

130,874

The bank loan amounting to £130,874 (2020: £130,874) is secured by a legal charge, dated 10

November 2008, over the company's present and future tangible and intangible fixed assets.