Rose Cottage Herbs Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03999242 (England and Wales)

ROSE COTTAGE HERBS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

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

19,267

20,527

19,267

20,527

CURRENT ASSETS

Stocks

2,480

1,860

Debtors

6

16,693

6,442

Cash at bank and in hand

1,515

1,787

20,688

10,089

CREDITORS

Amounts falling due within one year

7

32,377

21,073

NET CURRENT LIABILITIES

(11,689

)

(10,984

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,578

9,543

CAPITAL AND RESERVES

Called up share capital

20

20

Retained earnings

7,558

9,523

SHAREHOLDERS' FUNDS

7,578

9,543

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 29th June 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30th September 2017 are the first that are prepared in accordance

with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date

of transition to FRS 102 Section 1A is 1st October 2015.

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 cost

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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st October 2016

and 30th September 2017

163,080

AMORTISATION

At 1st October 2016

and 30th September 2017

163,080

NET BOOK VALUE

At 30th September 2017

-

At 30th September 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st October 2016

27,235

160,626

187,861

Additions

-

286

286

At 30th September 2017

27,235

160,912

188,147

DEPRECIATION

At 1st October 2016

10,735

156,599

167,334

Charge for year

-

1,546

1,546

At 30th September 2017

10,735

158,145

168,880

NET BOOK VALUE

At 30th September 2017

16,500

2,767

19,267

At 30th September 2016

16,500

4,027

20,527

Included in cost of land and buildings is freehold land of £ 16,500 (2016 - £ 16,500 ) which is not depreciated.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

6,595

5,971

Other debtors

10,098

471

16,693

6,442

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

12,963

3,979

Trade creditors

4,425

1,747

Taxation and social security

12,245

12,634

Other creditors

2,744

2,713

32,377

21,073

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th September 2017 and

30th September 2016:

2017

2016

£

£

C J Whyte and Mrs H A Whyte

Balance outstanding at start of year

(115

)

19,014

Amounts advanced

9,586

-

Amounts repaid

-

(19,129

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,471

(115

)

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.

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £45,000 (2016 - £40,000) were paid to the directors .

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr & Mrs C. Whyte.