Rosecross Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03973063 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2022

for

Rosecross Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R E Wynne

Mrs G Wynne

SECRETARY:

Mr R E Wynne

REGISTERED OFFICE:

295/297 Church Street

Blackpool

FY1 3PJ

BUSINESS ADDRESS:

The Rose and Crown

22 Corporation Street

Blackpool

Lancashire

FY1 1EJ

REGISTERED NUMBER:

03973063 (England and Wales)

ACCOUNTANTS:

CCW Limited

Chartered Accountants

295/297 Church Street

Blackpool

Lancashire

FY1 3PJ

FIXED ASSETS

Tangible assets

4

32,898

22,609

CURRENT ASSETS

Stocks

9,500

6,980

Debtors

5

154,591

140,534

Cash at bank and in hand

87,697

70,752

251,788

218,266

CREDITORS

Amounts falling due within one year

6

252,221

161,636

NET CURRENT (LIABILITIES)/ASSETS

(433

)

56,630

TOTAL ASSETS LESS CURRENT LIABILITIES

32,465

79,239

CREDITORS

Amounts falling due after more than one year

7

(53,491

)

(138,416

)

PROVISIONS FOR LIABILITIES

(4,146

)

-

NET LIABILITIES

(25,172

)

(59,177

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(25,272

)

(59,277

)

SHAREHOLDERS' FUNDS

(25,172

)

(59,177

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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 25 January 2023 and were signed on its behalf by:

Mr R E Wynne - Director

1.	STATUTORY INFORMATION

Rosecross 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.

The financial statements have been prepared on the going concern basis which is dependant on the continuing support of the creditors..

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.

Short leasehold alterations

-

4% on cost

Fixtures & equipment

-

25% on reducing balance

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 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 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.

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 18 (2021 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Short

leasehold

Fixtures

alterations

& equipment

Totals

£

£

£

COST

At 1 May 2021

5,902

170,622

176,524

Additions

-

20,917

20,917

At 30 April 2022

5,902

191,539

197,441

DEPRECIATION

At 1 May 2021

3,943

149,972

153,915

Charge for year

236

10,392

10,628

At 30 April 2022

4,179

160,364

164,543

NET BOOK VALUE

At 30 April 2022

1,723

31,175

32,898

At 30 April 2021

1,959

20,650

22,609

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Other debtors

154,591

140,534

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Bank loans and overdrafts

8,056

10,207

Trade creditors

37,675

33,634

Taxation and social security

45,551

34,201

Other creditors

160,939

83,594

252,221

161,636

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.22

30.4.21

£

£

Bank loans

53,491

58,416

Other creditors

-

80,000

53,491

138,416

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

20,716

7,939

8.	RELATED PARTY DISCLOSURES

Within debtors is amounts owed to the company by West Coast Chock Limited of £138,315, and by Inville Limited of £7,474 both these companies are controlled by RE & G Wynne.

9.	GOING CONCERN

The company's balance sheet shows an excess of liabilities over assets of £25,172. The company is dependant upon the continued support of its major creditors in particular the Brewery by way of "other creditors " to meet its day to day working capital requirements. This support is expected to continue for the foreseeable future and hence the financial statements have been prepared on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of support of the creditors.