ROOTS_AND_BULBS_LIMITED - Accounts

ROOTS AND BULBS LIMITED - Company Information

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Company Registration No. 08538349 (England and Wales)

ROOTS AND BULBS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

ROOTS AND BULBS LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

ROOTS AND BULBS LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ROOTS AND BULBS LIMITED FOR THE YEAR ENDED 31 MAY 2016

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Roots and Bulbs Limited for the year ended 31 May 2016 set out on pages 3 to 8 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Roots and Bulbs Limited, as a body, in accordance with the terms of our engagement letter dated 16 July 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Roots and Bulbs Limited and state those matters that we have agreed to state to the Board of Directors of Roots and Bulbs Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Roots and Bulbs Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Roots and Bulbs 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 Roots and Bulbs Limited. You consider that Roots and Bulbs Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Roots and Bulbs 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.

Gerald Edelman

11 May 2017

Chartered Accountants

73 Cornhill

London

EC3V 3QQ

ROOTS AND BULBS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 2 -

2016

2015

Notes

Fixed assets

Intangible assets

1,640

1,874

Tangible assets

554,735

733,150

556,375

735,024

Current assets

Stocks

3,000

15,267

Debtors

146,404

216,474

Cash at bank and in hand

12,193

76,062

161,597

307,803

Creditors: amounts falling due within one year

(2,050,667)

(1,896,384)

Net current liabilities

(1,889,070)

(1,588,581)

Total assets less current liabilities

(1,332,695)

(853,557)

Capital and reserves

Called up share capital

Profit and loss account

(1,332,697)

(853,559)

Shareholders' funds

(1,332,695)

(853,557)

For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 11 May 2017

L Cadji

Director

Company Registration No. 08538349

ROOTS AND BULBS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

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Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements have been prepared on a going concern basis. The directors consider the going concern basis to be appropriate because in their opinion, the company will continue to obtain sufficient funding to enable it to pay its debts as they fall due and also will receive continuing support from the creditors and directors. The financial statements do not include any adjustments that would result from discontinuance of this financial support. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Turnover is recognised at the point of sale.

1.4

Trademarks

Trademarks are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual installments over the estimated useful life of 5 years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

over 10 years

Computer equipment

33.33 % straight line

Fixtures, fittings & equipment

15 % straight line

Motor vehicles

25 % reducing balance on the scooter & 33% reducing balance on the van

ROOTS AND BULBS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 June 2015

2,342

836,526

838,868

Additions

11,223

Disposals

(121,654)

At 31 May 2016

2,342

726,095

728,437

Depreciation

At 1 June 2015

468

103,376

103,844

On disposals

(21,419)

Charge for the year

234

89,403

89,637

At 31 May 2016

702

171,360

172,062

Net book value

At 31 May 2016

1,640

554,735

556,375

At 31 May 2015

1,874

733,150

735,024

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each

Ultimate parent company

The immediate parent company is SLC (R&B) Limited, a company registered in England and Wales.