Registered number
08870911
ROSE WILLIAMS LTD
Unaudited Accounts
31 March 2022
ROSE WILLIAMS LTD
Registered number: 08870911
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 2,821 3,762
Current assets
Debtors 4 2,862 4,051
Cash at bank and in hand 86,839 61,997
89,701 66,048
Creditors: amounts falling due within one year 5 (39,541) (23,174)
Net current assets 50,160 42,874
Total assets less current liabilities 52,981 46,636
Provisions for liabilities (715) (715)
Net assets 52,266 45,921
Capital and reserves
Called up share capital 4 4
Profit and loss account 52,262 45,917
Shareholders' funds 52,266 45,921
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MARK ROSE
Director
Approved by the board on 14 July 2022
ROSE WILLIAMS LTD
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes from the provision of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 April 2021 11,973
At 31 March 2022 11,973
Depreciation
At 1 April 2021 8,211
Charge for the year 941
At 31 March 2022 9,152
Net book value
At 31 March 2022 2,821
At 31 March 2021 3,762
4 Debtors 2022 2021
£ £
Other debtors 2,862 4,051
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 4,369 4,409
Taxation and social security costs 29,453 15,013
Other creditors 5,719 3,752
39,541 23,174
6 Other financial commitments 2022 2021
£ £
Total future minimum payments under non-cancellable operating leases 17,100 25,650
7 Other information
ROSE WILLIAMS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Suite 7 Claremont House
22-24 Claremont Road
Surbiton
Surrey
KT6 4QU
These accounts are presented in Sterling, which is the functional currency of the company.
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