Registered number
02914163
New Rose Limited
Filleted Accounts
31 August 2021
New Rose Limited
Registered number: 02914163
Balance Sheet
as at 31 August 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 5 49,750 34,243
Current assets
Stocks 416,255 230,478
Debtors 6 4,140,405 3,998,976
Cash at bank and in hand 96,998 7,535
4,653,658 4,236,989
Creditors: amounts falling due within one year 7 (1,042,510) (759,249)
Net current assets 3,611,148 3,477,740
Total assets less current liabilities 3,660,898 3,511,983
Creditors: amounts falling due after more than one year 8 (639,851) (677,918)
Provisions for liabilities (15,216) (8,986)
Net assets 3,005,831 2,825,079
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,005,731 2,824,979
Shareholders' funds 3,005,831 2,825,079
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.
R L Suglani
Director
Approved by the board on 6 August 2022
New Rose Limited
Notes to the Accounts
for the year ended 31 August 2021
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. Turnover includes revenue earned from the sale of goods .Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery 15% Reducing balance
Motor vehicles 15% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Going Concern
The Directors have considered the company's business activities, together with the factors likely to affect its future development, performance and position that are effected due to Covid19 restrictions.

The directors have considered the company's financial resources together with its customer base and supply chain. They have also considered the possibility of obtaining Government gurantee loans to ease any short to medium term cash flow situation.
As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements

We have continued to prepare the accounts on a going concern basis and deem this appropriate. We do not consider that a material uncertainty about our going concern status currently exists,in making this assessment we have considered the likely trading conditions for the period of 12 months from that date of our approval of these accounts
3 Exceptional items 2021 2020
£ £
Irrecoverable debt from associated company 0 162,506
- 162,506
4 Employees 2021 2020
Number Number
Average number of persons employed by the company 5 5
5 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2020 103,700 31,195 134,895
Additions 2,037 21,469 23,506
Disposals (2,250) (6,500) (8,750)
At 31 August 2021 103,487 46,164 149,651
Depreciation
At 1 September 2020 89,622 11,030 100,652
Charge for the year 2,088 2,937 5,025
On disposals (1,355) (4,421) (5,776)
At 31 August 2021 90,355 9,546 99,901
Net book value
At 31 August 2021 13,132 36,618 49,750
At 31 August 2020 14,078 20,165 34,243
6 Debtors 2021 2020
£ £
Trade debtors 576,342 479,828
Loan to associated companies 2,998,750 2,849,000
Other debtors 565,313 670,148
4,140,405 3,998,976
7 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 38,169 36,462
Obligations under finance lease and hire purchase contracts 19,768 6,334
Trade creditors 720,208 568,082
Taxation and social security costs 221,079 112,301
Other creditors 43,286 36,070
1,042,510 759,249
8 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 639,851 677,918
9 Loans 2021 2020
£ £
Creditors include:
Secured bank loans 486,057 486,057
Bank Loan is secured by fixed and floating charge over the company's assets.
Director's loan account, amount £20,063 included in other creditors is undated, unsecured, interest fee and repayable on demand
10 Contingent liabilities
Contingent liabilities at 31 August 2021 for Documentry credits entered by the company was £198401 (2020- £327696)
11 Related party transactions
Amounts due from associated companies is included in debtors and are undated, unsecured, interest fee and repayable on demand.Directors have got material interest in these companies.
12 Other information
New Rose Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 49 Bridge Trading Estate
Bridge Street North
Smethwick
B66 2BZ
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