ROOTS Organics Limited 10492506 false 2022-01-01 2023-03-31 2023-03-31 The principal activity of the company is Composting, anaerobic digestion & organic waste recycling specialists Digita Accounts Production Advanced 6.30.9574.0 true true 10492506 2022-01-01 2023-03-31 10492506 2023-03-31 10492506 bus:Director3 2023-03-31 10492506 core:RetainedEarningsAccumulatedLosses 2023-03-31 10492506 core:ShareCapital 2023-03-31 10492506 core:CurrentFinancialInstruments 2023-03-31 10492506 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10492506 core:FurnitureFittingsToolsEquipment 2023-03-31 10492506 bus:SmallEntities 2022-01-01 2023-03-31 10492506 bus:AuditExemptWithAccountantsReport 2022-01-01 2023-03-31 10492506 bus:FullAccounts 2022-01-01 2023-03-31 10492506 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2023-03-31 10492506 bus:RegisteredOffice 2022-01-01 2023-03-31 10492506 bus:Director1 2022-01-01 2023-03-31 10492506 bus:Director2 2022-01-01 2023-03-31 10492506 bus:Director3 2022-01-01 2023-03-31 10492506 bus:PrivateLimitedCompanyLtd 2022-01-01 2023-03-31 10492506 core:FurnitureFittingsToolsEquipment 2022-01-01 2023-03-31 10492506 core:OfficeEquipment 2022-01-01 2023-03-31 10492506 core:UKTax 2022-01-01 2023-03-31 10492506 countries:AllCountries 2022-01-01 2023-03-31 10492506 2021-12-31 10492506 core:FurnitureFittingsToolsEquipment 2021-12-31 10492506 2021-01-01 2021-12-31 10492506 2021-12-31 10492506 core:RetainedEarningsAccumulatedLosses 2021-12-31 10492506 core:ShareCapital 2021-12-31 10492506 core:CurrentFinancialInstruments 2021-12-31 10492506 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 10492506 core:FurnitureFittingsToolsEquipment 2021-12-31 10492506 core:UKTax 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registration number: 10492506

ROOTS Organics Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 January 2022 to 31 March 2023

 

ROOTS Organics Limited

Contents

Company Information

1

Directors' Report

2

Profit and Loss Account and Statement of Retained Earnings

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 10

Detailed Profit and Loss Account

11 to 13

 

ROOTS Organics Limited

Company Information

Directors

Dr A L Cronje

Mrs S J Blackhurst

Registered office

Old Sunday School Chapel Lane
Hoghton
Preston
Lancashire
PR5 0RY

Accountants

DSM CA Limited
Station House Station Road
Whalley
Clitheroe
Lancashire
BB7 9RT

 

ROOTS Organics Limited

Directors' Report for the Period from 1 January 2022 to 31 March 2023

The directors present their report and the financial statements for the period from 1 January 2022 to 31 March 2023.

Directors of the company

The directors who held office during the period were as follows:

Dr A L Cronje

Mrs S J Blackhurst

Mr M J Ogilvie (ceased 30 April 2022)

Principal activity

The principal activity of the company is Composting, anaerobic digestion & organic waste recycling specialists

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 13 September 2023 and signed on its behalf by:

.........................................
Dr A L Cronje
Director

.........................................
Mrs S J Blackhurst
Director

 
     
 

ROOTS Organics Limited

Profit and Loss Account and Statement of Retained Earnings for the Period from 1 January 2022 to 31 March 2023

Note

2023
£

2021
£

Turnover

 

206,998

175,988

Cost of sales

 

(19,148)

(1,999)

Gross profit

 

187,850

173,989

Administrative expenses

 

85,250

66,747

Other operating income

 

-

2,831

Operating profit

 

102,600

110,073

Other interest receivable and similar income

 

27

-

Interest payable and similar charges

 

(3)

(7)

 

24

(7)

Profit before tax

102,624

110,066

Taxation

 

(19,671)

(20,694)

Profit for the financial period

 

82,953

89,372

Retained earnings brought forward

 

14,496

223

Dividends paid

 

(67,150)

(75,100)

Retained earnings carried forward

 

30,299

14,495

 

ROOTS Organics Limited

(Registration number: 10492506)
Balance Sheet as at 31 March 2023

Note

2023
£

2021
£

Fixed assets

 

Tangible assets

4

2,342

3,074

Current assets

 

Debtors

5

38,035

23,846

Cash at bank and in hand

 

64,381

26,717

 

102,416

50,563

Creditors: Amounts falling due within one year

6

(74,359)

(39,042)

Net current assets

 

28,057

11,521

Net assets

 

30,399

14,595

Capital and reserves

 

Called up share capital

100

100

Retained earnings

30,299

14,495

Shareholders' funds

 

30,399

14,595

 

ROOTS Organics Limited

(Registration number: 10492506)
Balance Sheet as at 31 March 2023

For the financial period ending 31 March 2023 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 13 September 2023 and signed on its behalf by:
 

.........................................
Dr A L Cronje
Director

.........................................
Mrs S J Blackhurst
Director

 
     
 

ROOTS Organics Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Old Sunday School Chapel Lane
Hoghton
Preston
Lancashire
PR5 0RY
Great Britain

These financial statements were authorised for issue by the Board on 13 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

ROOTS Organics Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

ROOTS Organics Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 31 March 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2021 - 3).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2022

8,596

8,596

Additions

911

911

At 31 March 2023

9,507

9,507

Depreciation

At 1 January 2022

5,522

5,522

Charge for the period

1,643

1,643

At 31 March 2023

7,165

7,165

Carrying amount

At 31 March 2023

2,342

2,342

At 31 December 2021

3,074

3,074

5

Debtors

Current

Note

2023
£

2021
£

Trade debtors

 

27,952

23,846

Director loan

7

9,985

-

Prepayments

 

98

-

   

38,035

23,846

 

ROOTS Organics Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2021
£

Due within one year

 

Trade creditors

 

1,426

1,185

Directors loan accounts

7

43,420

5,139

PAYE and VAT

 

9,070

10,641

Accruals

 

799

1,383

Corporation tax

19,644

20,694

 

74,359

39,042

7

Related party transactions

The company provided a loan to a director. The loan is interest free and repayable on demand. The loan is presented within debtors.

 

ROOTS Organics Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 31 March 2023

8

Taxation

Tax charged/(credited) in the income statement

1 January 2022 to 31 March 2023
 £

Year ended 31 December 2021
 £

Current taxation

UK corporation tax

19,671

20,694

 

ROOTS Organics Limited

Detailed Profit and Loss Account for the Period from 1 January 2022 to 31 March 2023

2023
£

2021
£

Turnover (analysed below)

206,998

175,988

Cost of sales (analysed below)

19,148

1,999

Gross profit

187,850

173,989

Gross profit (%)

90.75%

98.86%

Administrative expenses

Employment costs (analysed below)

66,986

52,150

Establishment costs (analysed below)

1,372

2,241

General administrative expenses (analysed below)

15,105

10,710

Finance charges (analysed below)

143

132

Depreciation costs (analysed below)

1,644

1,514

85,250

66,747

Other operating income (analysed below)

-

2,831

Operating profit

102,600

110,073

Other interest receivable and similar income (analysed below)

(27)

-

Interest payable and similar expenses (analysed below)

3

7

(24)

7

Profit before tax

102,624

110,066

 

ROOTS Organics Limited

Detailed Profit and Loss Account for the Period from 1 January 2022 to 31 March 2023

2023
£

2021
£

   

Turnover

Rendering of services

206,998

175,988

   

Cost of sales

Direct costs

19,148

1,999

   

Employment costs

Directors remuneration

36,468

37,612

Directors pensions (Defined contribution)

29,300

13,200

Private health insurance

1,071

-

Training and events

147

1,338

66,986

52,150

   

Establishment costs

Rent

-

1,000

Insurance

490

305

Use of home as office

882

936

1,372

2,241

   

General administrative expenses

Telephone and fax

1,705

1,290

Computer software and maintenance costs

950

696

Printing, postage and stationery

318

142

Trade subscriptions

693

558

Motor expenses

7,895

5,913

Travel and subsistence

363

378

Staff entertaining (allowable for tax)

178

129

Customer entertaining (disallowable for tax)

303

-

Accountancy fees

2,252

1,604

Legal and professional fees

448

-

15,105

10,710

   

Finance charges

Bank charges

143

132

   

Depreciation costs

Depreciation of office equipment (owned)

1,644

1,514

   

Other operating income

Government grants receivable

-

2,831

   

Other interest receivable and similar income

Other interest receivable

(27)

-

 

ROOTS Organics Limited

Detailed Profit and Loss Account for the Period from 1 January 2022 to 31 March 2023

2023
£

2021
£

   

Interest payable and similar expenses

Other interest payable

3

7