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REGISTERED NUMBER: 09462569 (England and Wales)














ROMNEY MARSH WOOLS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






ROMNEY MARSH WOOLS LIMITED (REGISTERED NUMBER: 09462569)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


ROMNEY MARSH WOOLS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr P M Boulden
Mrs K Boulden





REGISTERED OFFICE: Rushfield
Giggers Green Road
Aldington
Ashford
Kent
TN25 7BT





REGISTERED NUMBER: 09462569 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG

ROMNEY MARSH WOOLS LIMITED (REGISTERED NUMBER: 09462569)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 990 1,904
Tangible assets 5 18,970 17,912
19,960 19,816

CURRENT ASSETS
Stocks 60,857 44,201
Debtors 6 46,894 74,581
Cash at bank and in hand 1,459 4,180
109,210 122,962
CREDITORS
Amounts falling due within one year 7 53,820 37,569
NET CURRENT ASSETS 55,390 85,393
TOTAL ASSETS LESS CURRENT
LIABILITIES

75,350

105,209

CREDITORS
Amounts falling due after more than
one year

8

(18,674

)

(26,678

)

PROVISIONS FOR LIABILITIES - (3,764 )
NET ASSETS 56,676 74,767

CAPITAL AND RESERVES
Called up share capital 9 100 100
Share premium 23,344 23,344
Retained earnings 33,232 51,323
SHAREHOLDERS' FUNDS 56,676 74,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

ROMNEY MARSH WOOLS LIMITED (REGISTERED NUMBER: 09462569)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2023 and were signed on its behalf by:





Mrs K Boulden - Director


ROMNEY MARSH WOOLS LIMITED (REGISTERED NUMBER: 09462569)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Romney Marsh Wools 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Website is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

ROMNEY MARSH WOOLS LIMITED (REGISTERED NUMBER: 09462569)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grant income recognition
Grant income has been recognised under the performance model.

Grants that do not specify any future performance-related conditions are recorded when the grant proceeds are received or receivable. Any grant that imposes specified future performance-related conditions is recognised only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 4,750
AMORTISATION
At 1 April 2022 2,846
Charge for year 914
At 31 March 2023 3,760
NET BOOK VALUE
At 31 March 2023 990
At 31 March 2022 1,904

ROMNEY MARSH WOOLS LIMITED (REGISTERED NUMBER: 09462569)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 16,865 758 2,831 8,200 28,654
Additions 3,396 - 1,079 - 4,475
At 31 March 2023 20,261 758 3,910 8,200 33,129
DEPRECIATION
At 1 April 2022 7,936 297 1,630 879 10,742
Charge for year 1,192 115 280 1,830 3,417
At 31 March 2023 9,128 412 1,910 2,709 14,159
NET BOOK VALUE
At 31 March 2023 11,133 346 2,000 5,491 18,970
At 31 March 2022 8,929 461 1,201 7,321 17,912

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,492 9,327
Other debtors 43,402 65,254
46,894 74,581

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 31,726 14,246
Trade creditors 10,458 22,467
Taxation and social security 934 106
Other creditors 10,702 750
53,820 37,569

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 18,674 26,678

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

ROMNEY MARSH WOOLS LIMITED (REGISTERED NUMBER: 09462569)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr P M Boulden
Balance outstanding at start of year 383 (466 )
Amounts advanced 5,383 976
Amounts repaid (3,934 ) (127 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,832 383

Mrs K Boulden
Balance outstanding at start of year 7,280 2,506
Amounts advanced 25,896 7,398
Amounts repaid (42,705 ) (2,624 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (9,529 ) 7,280

The loans to/from the directors are interest free and fully repayable.