Rose Cottage Herbs Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03999242 (England and Wales)

ROSE COTTAGE HERBS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C J Whyte

Mrs H A Whyte

SECRETARY:

C J Whyte

REGISTERED OFFICE:

Rose Cottage

Acombe Common

Hatfield

Doncaster

DN7 6ET

REGISTERED NUMBER:

03999242 (England and Wales)

ACCOUNTANTS:

W H Prior

Chartered Certified Accountants

Railway Court

Off Ten Pound Walk

Doncaster

South Yorkshire

DN4 5FB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

21,048

25,056

21,048

25,056

CURRENT ASSETS

Stocks

2,628

2,628

Debtors

6

57,266

42,336

Cash at bank and in hand

8,523

7,180

68,417

52,144

CREDITORS

Amounts falling due within one year

7

67,380

62,987

NET CURRENT ASSETS/(LIABILITIES)

1,037

(10,843

)

TOTAL ASSETS LESS CURRENT LIABILITIES

22,085

14,213

PROVISIONS FOR LIABILITIES

1,431

1,457

NET ASSETS

20,654

12,756

CAPITAL AND RESERVES

Called up share capital

20

20

Retained earnings

20,634

12,736

SHAREHOLDERS' FUNDS

20,654

12,756

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th August 2022 and were signed on its behalf by:

C J Whyte - Director

1.	STATUTORY INFORMATION

Rose Cottage Herbs 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

5% on cost

Nursery equipment

-

25% on cost

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on cost

Stocks

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

Taxation

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

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st October 2020

and 30th September 2021

163,080

AMORTISATION

At 1st October 2020

and 30th September 2021

163,080

NET BOOK VALUE

At 30th September 2021

-

At 30th September 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st October 2020

27,235

176,947

204,182

Additions

-

3,929

3,929

Disposals

(4,714

)

-

(4,714

)

At 30th September 2021

22,521

180,876

203,397

DEPRECIATION

At 1st October 2020

10,735

168,391

179,126

Charge for year

-

3,223

3,223

At 30th September 2021

10,735

171,614

182,349

NET BOOK VALUE

At 30th September 2021

11,786

9,262

21,048

At 30th September 2020

16,500

8,556

25,056

Included in cost of land and buildings is freehold land of £ 11,786 (2020 - £ 16,500 ) which is not depreciated.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

2,238

11,340

Other debtors

55,028

30,996

57,266

42,336

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

2,631

5,041

Taxation and social security

7,625

22,480

Other creditors

57,124

35,466

67,380

62,987

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Barclays Bank Plc has fixed and floating charges over the undertaking and all property and assets present and future including goodwill book debts uncalled capital buildings fixtures fixed plant and machinery.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th September 2021 and 30th September 2020:

2021

2020

£

£

C J Whyte and Mrs H A Whyte

Balance outstanding at start of year

(1,889

)

4,220

Amounts advanced

58,428

81,931

Amounts repaid

(57,220

)

(88,040

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(681

)

(1,889

)

The directors have advanced loans to the Company and received loans from the Company during the year. The loans are repayable on demand and free of interest.

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £24,000 were paid to the directors .

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr & Mrs C. Whyte.