Rhoose Food & Wine Limited Filleted accounts for Companies House (small and micro)

RHOOSE FOOD & WINE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11995915

Rhoose Food & Wine Limited

Filleted Unaudited Financial Statements

31 July 2023

Rhoose Food & Wine Limited

Statement of Financial Position

31 July 2023

	2023	2022
Note	£	£

Fixed assets

Intangible assets	5	14,800	16,100
Tangible assets	6	12,966	14,822
		--------	--------
		27,766	30,922

Current assets

Stocks		23,432	19,866
Debtors	7	56,875	22,725
Cash at bank and in hand		16,052	33,702
		--------	--------
		96,359	76,293

Creditors: amounts falling due within one year	8	83,924	57,927
		--------	--------
Net current assets		12,435	18,366
		--------	--------
Total assets less current liabilities		40,201	49,288

Creditors: amounts falling due after more than one year	9	34,024	39,985

Provisions	2,025	2,025
	--------	--------
Net assets	4,152	7,278
	--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	4,052	7,178
	-------	-------
Shareholders funds	4,152	7,278
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Rhoose Food & Wine Limited

Statement of Financial Position (continued)

31 July 2023

These financial statements were approved by the board of directors and authorised for issue on 5 April 2024 , and are signed on behalf of the board by:

Mrs T K Tal
Director

Company registration number: 11995915

Rhoose Food & Wine Limited

Notes to the Financial Statements

Year ended 31 July 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 57 Wayne Avenue, Hounslow, Middlesex, TW5 9SQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	6% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	Over the term of lease
Fixtures and fittings	-	20% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2022: 7 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 August 2022 and 31 July 2023	20,000
	--------
Amortisation
At 1 August 2022	3,900
Charge for the year	1,300
	--------
At 31 July 2023	5,200
	--------
Carrying amount
At 31 July 2023	14,800
	--------
At 31 July 2022	16,100
	--------

6. Tangible assets

	Long leasehold property	Fixtures and fittings	Total
	£	£	£
Cost
At 1 August 2022	6,127	13,323	19,450
Additions	–	457	457
	-------	--------	--------
At 31 July 2023	6,127	13,780	19,907
	-------	--------	--------
Depreciation
At 1 August 2022	1,035	3,593	4,628
Charge for the year	276	2,037	2,313
	-------	--------	--------
At 31 July 2023	1,311	5,630	6,941
	-------	--------	--------
Carrying amount
At 31 July 2023	4,816	8,150	12,966
	-------	--------	--------
At 31 July 2022	5,092	9,730	14,822
	-------	--------	--------

7. Debtors

	2023	2022
	£	£
Other debtors	56,875	22,725
	--------	--------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	6,706	6,706
Corporation tax	2,894	1,944
Social security and other taxes	13,820	12,050
Other creditors	60,504	37,227
	--------	--------
	83,924	57,927
	--------	--------

9. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	34,024	39,985
	--------	--------

10. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2023
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs T K Tal	( 17,236)	( 21,950)	( 39,186)
	--------	--------	--------

	2022
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs T K Tal	( 10,403)	( 6,833)	( 17,236)
	--------	-------	--------