Caseware UK (AP4) 2022.0.179 2022.0.179 2023-09-302023-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-10-01falseNo description of principal activity4546falsetrue 07317855 2022-10-01 2023-09-30 07317855 2021-10-01 2022-09-30 07317855 2023-09-30 07317855 2022-09-30 07317855 c:Director3 2022-10-01 2023-09-30 07317855 d:Buildings 2022-10-01 2023-09-30 07317855 d:Buildings 2023-09-30 07317855 d:Buildings 2022-09-30 07317855 d:Buildings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 07317855 d:PlantMachinery 2022-10-01 2023-09-30 07317855 d:PlantMachinery 2023-09-30 07317855 d:PlantMachinery 2022-09-30 07317855 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 07317855 d:MotorVehicles 2022-10-01 2023-09-30 07317855 d:MotorVehicles 2023-09-30 07317855 d:MotorVehicles 2022-09-30 07317855 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 07317855 d:OfficeEquipment 2022-10-01 2023-09-30 07317855 d:OfficeEquipment 2023-09-30 07317855 d:OfficeEquipment 2022-09-30 07317855 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 07317855 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 07317855 d:CurrentFinancialInstruments 2023-09-30 07317855 d:CurrentFinancialInstruments 2022-09-30 07317855 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 07317855 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 07317855 d:ShareCapital 2023-09-30 07317855 d:ShareCapital 2022-09-30 07317855 d:MergerReserve 2023-09-30 07317855 d:MergerReserve 2022-09-30 07317855 d:RetainedEarningsAccumulatedLosses 2023-09-30 07317855 d:RetainedEarningsAccumulatedLosses 2022-09-30 07317855 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 07317855 c:FRS102 2022-10-01 2023-09-30 07317855 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 07317855 c:FullAccounts 2022-10-01 2023-09-30 07317855 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 07317855 7 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

07317855







RUMWOODS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
30 SEPTEMBER 2023

































RUMWOODS LIMITED
REGISTERED NUMBER:07317855

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
  
1,839,408
1,743,875

Current assets
  

Stocks
  
249,103
234,775

Debtors: amounts falling due within one year
 5 
42,977
36,580

Cash at bank and in hand
  
1,151,498
1,021,849

  
1,443,578
1,293,204

Creditors: amounts falling due within one year
 6 
(925,029)
(1,067,987)

Net current assets
  
 
 
518,549
 
 
225,217

Total assets less current liabilities
  
2,357,957
1,969,092

Provisions for liabilities
  

Deferred tax
  
(10,778)
(10,778)

  
 
 
(10,778)
 
 
(10,778)

Net assets
  
2,347,179
1,958,314


Capital and reserves
  

Called up share capital 
  
200
200

Merger reserve
  
530,859
530,859

Profit and loss account
  
1,816,120
1,427,255

  
2,347,179
1,958,314


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
Page 1

RUMWOODS LIMITED
REGISTERED NUMBER:07317855
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023


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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J. T. Fermor
Director

Date: 6 March 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

RUMWOODS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Rumwoods Limited Limited (the 'Company') is a company limited by shares, domiciled and incorporated in England and Wales.
Its registered office address as well as its principal place of business is Rumwoods Nurseries & Garden Centre, Langley, Maidstone, Kent, ME17 3ND.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies
Monetary amounts in these financial statements are stated in sterling and rounded to the nearest whole £1.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

RUMWOODS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

RUMWOODS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. 

Depreciation is provided on the following basis:

Freehold property
-
Over 50 years
Plant and machinery
-
10%-15% Reducing balance
Motor vehicles
-
25% Reducing balance
Office equipment
-
15% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

 Creditors

Short term creditors are measured at the transaction price.

 
2.11

 Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance sheet date.

Page 5

RUMWOODS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.12

 Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.13

 Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.14

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year ended was 45 (2022 - 46).

Page 6

RUMWOODS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2022
1,588,628
97,401
115,264
36,325
1,837,618


Additions
14,625
108,577
395
5,377
128,974



At 30 September 2023

1,603,253
205,978
115,659
41,702
1,966,592



Depreciation


At 1 October 2022
4,995
30,396
49,029
9,323
93,743


Charge for the year on owned assets
2,783
9,581
16,624
4,453
33,441



At 30 September 2023

7,778
39,977
65,653
13,776
127,184



Net book value



At 30 September 2023
1,595,475
166,001
50,006
27,926
1,839,408



At 30 September 2022
1,583,633
67,005
66,235
27,002
1,743,875


5.


Debtors

2023
2022
£
£


Trade debtors
32,369
26,439

Prepayments
10,608
10,141

42,977
36,580



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
191,133
188,337

Corporation tax
119,557
105,992

Other taxation and social security
53,624
64,727

Other creditors
546,672
693,229

Accruals
14,043
15,702

925,029
1,067,987


Page 7

RUMWOODS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7.


Deferred taxation



2023


£






At beginning of year
(10,778)


Charged to profit or loss
-



At end of year
(10,778)

The provision for deferred taxation is made up as follows:

2023
£


Short term timing differences
(10,778)

(10,778)


8.


Related party transactions

Included within creditors due within one year are amounts owed to the directors of the company. The balance owed at the year end was £385,346 (2022: £530,195). The loans are interest free and repayable on demand.

 
Page 8