REGISTERED NUMBER: |
ROOTRIDGE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
REGISTERED NUMBER: |
ROOTRIDGE LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
ROOTRIDGE LIMITED (REGISTERED NUMBER: 01984215) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
ROOTRIDGE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 5 APRIL 2023 |
DIRECTORS: |
Mrs H A Atkinson |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
3 Castlegate |
Grantham |
Lincolnshire |
NG31 6SF |
BANKERS: |
65 High Street |
Stamford |
Lincolnshire |
PE9 2AT |
SOLICITORS: |
Enterprise Way |
Pinchbeck |
Spalding |
Lincs |
PE11 3YR |
ROOTRIDGE LIMITED (REGISTERED NUMBER: 01984215) |
STATEMENT OF FINANCIAL POSITION |
5 APRIL 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Valuation |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
ROOTRIDGE LIMITED (REGISTERED NUMBER: 01984215) |
STATEMENT OF FINANCIAL POSITION - continued |
5 APRIL 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ROOTRIDGE LIMITED (REGISTERED NUMBER: 01984215) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2023 |
1. | STATUTORY INFORMATION |
Rootridge Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover and basic payment |
Turnover represents the fair value of consideration received for net invoiced sales of produce and contract work, excluding value added tax, as well as the company's share of the results of a farming partnership in which the company is a partner. Sales of produce are recognised on despatch and revenue from contracting is recognised on the day the work is undertaken. |
The Basic Payment is recognised in the financial statements in accordance with H.M. Revenue and Customs guidance. |
Tangible fixed assets |
Tangible fixed assets are held at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold land and buildings - Nil |
Plant & machinery - 20% Reducing balance |
Motor vehicles - 20% Reducing balance |
It is the company's policy to maintain its properties in a continual state of sound repair. In the case of the freehold properties, the directors consider that the lives of these properties and their residual values are such that their depreciation is not significant. |
Stocks |
Stocks represent the farm valuation which has been prepared by independent valuers at the lower of cost and fair value less costs to complete and sell. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
ROOTRIDGE LIMITED (REGISTERED NUMBER: 01984215) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 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 useful lives or the lease term, whichever is shorter. |
The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future repayments is treated as a liability. |
Fixed asset investment |
The company's interest in the capital of associated undertakings is recognised at cost less impairment, plus the accumulated amount of any undrawn profits resulting from the company's share of the results of the undertakings. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 6 April 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 5 April 2023 |
DEPRECIATION |
At 6 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 5 April 2023 |
NET BOOK VALUE |
At 5 April 2023 |
At 5 April 2022 |
5. | FIXED ASSET INVESTMENTS |
Interest |
in |
associate |
£ |
COST |
At 6 April 2022 | 4,299,832 |
Additions |
At 5 April 2023 |
NET BOOK VALUE |
At 5 April 2023 |
At 5 April 2022 |
ROOTRIDGE LIMITED (REGISTERED NUMBER: 01984215) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
VAT |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Tax |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | 93,572 | 150,492 |
Hire purchase contracts are secured upon the asset to which they relate. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary shares | £1 | 500 | 500 |
11. | OTHER FINANCIAL COMMITMENTS |
The company has the following commitments due as follows: |
2023 | 2022 |
£ | £ |
Due in less than one year | 59,766 | 58,521 |
Due in more than one year | 22,935 | - |
82,701 | 58,521 |