Company Registration No. 01655083 (England and Wales)
ROSEFOX PAPER LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2023
30 September 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
ROSEFOX PAPER LTD
COMPANY INFORMATION
Directors
Mr G Spibey
Mrs L Spibey
Mr K G Spibey
Mr T M Spibey
Secretary
Mrs L Spibey
Company number
01655083
Registered office
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
ROSEFOX PAPER LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ROSEFOX PAPER LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
259,550
229,397
Investments
4
100
100
259,650
229,497
Current assets
Stocks
1,149,066
1,310,825
Debtors
5
1,427,098
1,585,128
Cash at bank and in hand
1,286,522
777,466
3,862,686
3,673,419
Creditors: amounts falling due within one year
6
(863,969)
(910,935)
Net current assets
2,998,717
2,762,484
Total assets less current liabilities
3,258,367
2,991,981
Provisions for liabilities
(64,580)
(57,349)
Net assets
3,193,787
2,934,632
Capital and reserves
Called up share capital
20,000
20,000
Profit and loss reserves
3,173,787
2,914,632
Total equity
3,193,787
2,934,632
The notes on pages 3 to 6 form part of these financial statements.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ROSEFOX PAPER LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2023
30 September 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 January 2024 and are signed on its behalf by:
Mr G Spibey
Director
Company registration number 01655083 (England and Wales)
ROSEFOX PAPER LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information
Rosefox Paper Ltd is a private company limited by shares incorporated in England and Wales. The registered office is New Century House, Greenbank Technology Park, Challenge Way, Blackburn, Lancashire, BB1 5QB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Machinery and fittings
15% on reducing balance
Computer equipment
33% on cost
Motor vehicles
15% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
ROSEFOX PAPER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
21
22
ROSEFOX PAPER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 5 -
3
Tangible fixed assets
Machinery and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2022
181,592
80,846
478,289
740,727
Additions
1,219
136,646
137,865
Disposals
(103,124)
(103,124)
At 30 September 2023
181,592
82,065
511,811
775,468
Depreciation and impairment
At 1 October 2022
132,609
79,880
298,841
511,330
Depreciation charged in the year
7,351
822
48,863
57,036
Eliminated in respect of disposals
(52,448)
(52,448)
At 30 September 2023
139,960
80,702
295,256
515,918
Carrying amount
At 30 September 2023
41,632
1,363
216,555
259,550
At 30 September 2022
48,983
966
179,448
229,397
4
Fixed asset investments
2023
2022
£
£
Other investments other than loans
100
100
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,314,996
1,477,583
Other debtors
112,102
107,545
1,427,098
1,585,128
ROSEFOX PAPER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
485,047
512,407
Amounts owed to group undertakings
30,150
Taxation and social security
317,561
354,455
Other creditors
31,211
44,073
863,969
910,935
7
Financial commitments, guarantees and contingent liabilities
At the reporting date the company had operating lease commitments totalling £91,922 (2022- £97,305).