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Registered number: 8817119
WILD ROSE COUTURE LIMITED
Financial Statements
For The Year Ended 30 June 2023
Ads Accountants
Certified Practising Accountants
117 Dartford Road
Dartford
Kent
DA1 3EN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 8817119
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 210,000 240,000
Tangible Assets 5 195,104 260,138
405,104 500,138
CURRENT ASSETS
Stocks 6 263,621 268,324
Debtors 7 800,939 584
Cash at bank and in hand 164,655 99,919
1,229,215 368,827
Creditors: Amounts Falling Due Within One Year 8 (161,641 ) (106,224 )
NET CURRENT ASSETS (LIABILITIES) 1,067,574 262,603
TOTAL ASSETS LESS CURRENT LIABILITIES 1,472,678 762,741
Creditors: Amounts Falling Due After More Than One Year 9 (807,553 ) (388,058 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (372 ) (452 )
NET ASSETS 664,753 374,231
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 664,653 374,131
SHAREHOLDERS' FUNDS 664,753 374,231
Page 1
Page 2
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs LINDA MARISTANI
Director
27/03/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
WILD ROSE COUTURE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 8817119 . The registered office is Greenacres Rosehill, Stone In Oxney, Tenterderden, Kent, TN30 7HG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 0%
Plant & Machinery 25% Reducing
Fixtures & Fittings 25% Reducing
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
...CONTINUED
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Page 4
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
4. Intangible Assets
Development Costs
£
Cost
As at 1 July 2022 300,000
As at 30 June 2023 300,000
Amortisation
As at 1 July 2022 60,000
Provided during the period 30,000
As at 30 June 2023 90,000
Net Book Value
As at 30 June 2023 210,000
As at 1 July 2022 240,000
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2022 36,397 379,725 416,122
As at 30 June 2023 36,397 379,725 416,122
Depreciation
As at 1 July 2022 26,428 129,556 155,984
Provided during the period 2,492 62,542 65,034
As at 30 June 2023 28,920 192,098 221,018
Net Book Value
As at 30 June 2023 7,477 187,627 195,104
As at 1 July 2022 9,969 250,169 260,138
Page 4
Page 5
6. Stocks
2023 2022
£ £
Materials 65,905 91,274
Finished goods 197,716 177,050
263,621 268,324
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 800,196 -
VAT 743 584
800,939 584
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 42,560
Corporation tax 131,281 33,304
Directors' loan accounts 30,360 30,360
161,641 106,224
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 595,036 278,144
Directors loan account 212,517 109,914
807,553 388,058
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5