IRIS Accounts Production v23.3.0.418 10405095 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh104050952022-03-31104050952023-03-31104050952022-04-012023-03-31104050952021-03-31104050952021-04-012022-03-31104050952022-03-3110405095ns10:Originalns15:EnglandWales2022-04-012023-03-3110405095ns14:PoundSterlingns10:Original2022-04-012023-03-3110405095ns10:Originalns10:Director12022-04-012023-03-3110405095ns10:Original2022-04-012023-03-3110405095ns10:Original2023-03-3110405095ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3110405095ns10:Originalns10:SmallEntities2022-04-012023-03-3110405095ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3110405095ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3110405095ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3110405095ns10:Originalns10:FullAccounts2022-04-012023-03-3110405095ns10:Originalns10:Director22022-04-012023-03-3110405095ns10:Originalns10:Director32022-04-012023-03-3110405095ns10:Originalns10:RegisteredOffice2022-04-012023-03-3110405095ns10:Original2022-03-3110405095ns10:Originalns5:CurrentFinancialInstruments2023-03-3110405095ns10:Originalns5:CurrentFinancialInstruments2022-03-3110405095ns5:ShareCapitalns10:Original2023-03-3110405095ns5:ShareCapitalns10:Original2022-03-3110405095ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3110405095ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3110405095ns10:Originalns5:FurnitureFittings2022-04-012023-03-3110405095ns10:Originalns5:MotorVehicles2022-04-012023-03-3110405095ns10:Original2021-04-012022-03-3110405095ns10:Originalns5:FurnitureFittings2022-03-3110405095ns10:Originalns5:MotorVehicles2022-03-3110405095ns10:Original2022-03-3110405095ns10:Originalns5:FurnitureFittings2023-03-3110405095ns10:Originalns5:MotorVehicles2023-03-3110405095ns10:Originalns5:FurnitureFittings2022-03-3110405095ns10:Originalns5:MotorVehicles2022-03-3110405095ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3110405095ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3110405095ns10:Originalns5:WithinOneYear2023-03-3110405095ns10:Originalns5:WithinOneYear2022-03-3110405095ns10:Original1ns10:Director12022-03-3110405095ns10:Original1ns10:Director12021-03-3110405095ns10:Original1ns10:Director12022-04-012023-03-3110405095ns10:Original1ns10:Director12021-04-012022-03-3110405095ns10:Original1ns10:Director12023-03-3110405095ns10:Original1ns10:Director12022-03-3110405095ns10:Originalns10:Director222022-03-3110405095ns10:Originalns10:Director222021-03-3110405095ns10:Originalns10:Director222022-04-012023-03-3110405095ns10:Originalns10:Director222021-04-012022-03-3110405095ns10:Originalns10:Director222023-03-3110405095ns10:Originalns10:Director222022-03-31
REGISTERED NUMBER: 10405095 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

ROSE PRODUCE LIMITED

ROSE PRODUCE LIMITED (REGISTERED NUMBER: 10405095)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROSE PRODUCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: C P Bester
M J Hodson
G W Whalley





REGISTERED OFFICE: 27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE





REGISTERED NUMBER: 10405095 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

ROSE PRODUCE LIMITED (REGISTERED NUMBER: 10405095)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 66,394 41,559

CURRENT ASSETS
Stocks 12,668 8,033
Debtors 5 1,139,969 760,325
Cash at bank 139,639 151,297
1,292,276 919,655
CREDITORS
Amounts falling due within one year 6 1,161,864 821,995
NET CURRENT ASSETS 130,412 97,660
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,806

139,219

PROVISIONS FOR LIABILITIES 16,500 7,900
NET ASSETS 180,306 131,319

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 180,206 131,219
SHAREHOLDERS' FUNDS 180,306 131,319

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.

ROSE PRODUCE LIMITED (REGISTERED NUMBER: 10405095)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





M J Hodson - Director


ROSE PRODUCE LIMITED (REGISTERED NUMBER: 10405095)

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

1. STATUTORY INFORMATION

Rose Produce 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.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 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 Statement of Income and Retained Earnings, 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.

ROSE PRODUCE LIMITED (REGISTERED NUMBER: 10405095)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022 7,777 43,917 51,694
Additions 1,732 42,636 44,368
At 31 March 2023 9,509 86,553 96,062
DEPRECIATION
At 1 April 2022 1,808 8,327 10,135
Charge for year 985 18,548 19,533
At 31 March 2023 2,793 26,875 29,668
NET BOOK VALUE
At 31 March 2023 6,716 59,678 66,394
At 31 March 2022 5,969 35,590 41,559

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,099,278 736,105
Other debtors 40,691 24,220
1,139,969 760,325

ROSE PRODUCE LIMITED (REGISTERED NUMBER: 10405095)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Advances in respect of invoice
discounting 171,652 191,698
Trade creditors 869,314 546,273
Taxation and social security 39,118 38,348
Other creditors 81,780 45,676
1,161,864 821,995

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 1,815 4,786

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Invoice discounting advances 171,652 191,698

The invoice discounting advances are secured by the debenture in favour of Santander UK PLC by way of fixed and floating charges over the assets of the company.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.3.23 31.3.22
£    £   
M J Hodson
Balance outstanding at start of year 15,415 5,455
Amounts advanced 55,257 56,185
Amounts repaid (58,505 ) (46,225 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,167 15,415

C P Bester
Balance outstanding at start of year - 5,555
Amounts advanced 17,844 5,195
Amounts repaid (16,678 ) (10,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,166 -

Interest has been charged on loan balances over £10,000 at a rate of 2.00%.