Rosefort Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05627907 (England and Wales)

Financial Statements

For The Period 25th November 2019 to 28th November 2020

for

Rosefort Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

N A Foster

R H Bigg

L D T O'Connor

REGISTERED OFFICE:

1-3 Manor Road

Chatham

Kent

ME4 6AE

REGISTERED NUMBER:

05627907 (England and Wales)

ACCOUNTANTS:

Beak Kemmenoe

Chartered Accountants

1-3 Manor Road

Chatham

Kent

ME4 6AE

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 Rosefort Limited for the period ended 28th November 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Rosefort Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rosefort Limited and state those matters that we have agreed to state to the Board of Directors of Rosefort Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rosefort Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rosefort Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Rosefort Limited. You consider that Rosefort Limited 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 Rosefort Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Beak Kemmenoe

Chartered Accountants

1-3 Manor Road

Chatham

Kent

ME4 6AE

27th August 2021

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

197,224

361,935

197,224

361,935

CURRENT ASSETS

Stocks

5,497

18,292

Debtors

6

969,648

769,667

Cash at bank and in hand

53,479

578,853

1,028,624

1,366,812

CREDITORS

Amounts falling due within one year

7

177,832

354,106

NET CURRENT ASSETS

850,792

1,012,706

TOTAL ASSETS LESS CURRENT LIABILITIES

1,048,016

1,374,641

CREDITORS

Amounts falling due after more than one year

8

(2,153,925

)

(2,108,721

)

PROVISIONS FOR LIABILITIES

(19,748

)

(47,108

)

NET LIABILITIES

(1,125,657

)

(781,188

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(1,125,658

)

(781,189

)

SHAREHOLDERS' FUNDS

(1,125,657

)

(781,188

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28th November 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 28th November 2020 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th August 2021 and were signed on its behalf by:

N A Foster - Director

1.	STATUTORY INFORMATION

Rosefort 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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

In preparing the financial statements the directors have made the following judgements:

The directors have concluded that the company is a going concern having obtained additional loan finance since the reporting date. The majority of the government's COVID-19 restrictions have now been lifted allowing the company to trade at a profit.

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 2006, was 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.

Land and buildings

-

over the period of life of the lease

Plant and machinery etc

-

25% on reducing balance and over the period of life of the lease

Government grants

The company adopts the accrual model for accounting for government grants. Government grants in relation to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Stocks

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

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Debt instruments that comply with all of the condition of paragraph 11.9 of FRS 102 are classified as 'basic'. For debt instruments that do not meet the conditions of FRS 102.11.9, the company considers whether the debt instrument is consistent with the principle in paragraph 11.9A of FRS 102 in order to determine whether it can be classified as basic. Instruments classified as 'basic' financial instruments are measured subsequently at amortised cost using the effective interest method. Debt instruments that have no stated interest rate (and do not constitute financing transaction) and are classified as payable or receivable within one year are initially measured at an undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting conditions of being 'basic' financial instruments are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

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 period was 23 (2019 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 25th November 2019

and 28th November 2020

250,000

AMORTISATION

At 25th November 2019

and 28th November 2020

250,000

NET BOOK VALUE

At 28th November 2020

-

At 24th November 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 25th November 2019

134,957

1,985,066

2,120,023

Additions

-

56,666

56,666

At 28th November 2020

134,957

2,041,732

2,176,689

DEPRECIATION

At 25th November 2019

123,093

1,634,995

1,758,088

Charge for period

8,982

212,395

221,377

At 28th November 2020

132,075

1,847,390

1,979,465

NET BOOK VALUE

At 28th November 2020

2,882

194,342

197,224

At 24th November 2019

11,864

350,071

361,935

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

-

8,103

Amounts owed by group undertakings

909,170

653,311

Other debtors and prepayments

60,478

108,253

969,648

769,667

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

2,349

-

Trade creditors

15,511

168,663

Corporation tax

972

54,412

Taxation and social security

63,225

42,339

Other creditors and accruals

95,775

88,692

177,832

354,106

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 1-2 years

9,553

-

Bank loans - 2-5 years

30,191

-

Bank loans - more than 5 years

7,907

-

Amounts owed to group undertakings

2,106,274

2,108,721

2,153,925

2,108,721

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - more than 5 years

7,907

-

9.	ULTIMATE CONTROLLING PARTY

The parent company is Big Chill Group Limited. The ultimate controlling party is Mr N Foster and Mr R Bigg.