Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31trueNo description of principal activity2022-06-01false55trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03553075 2022-06-01 2023-05-31 03553075 2021-06-01 2022-05-31 03553075 2023-05-31 03553075 2022-05-31 03553075 c:Director1 2022-06-01 2023-05-31 03553075 d:PlantMachinery 2022-06-01 2023-05-31 03553075 d:MotorVehicles 2022-06-01 2023-05-31 03553075 d:MotorVehicles 2023-05-31 03553075 d:MotorVehicles 2022-05-31 03553075 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 03553075 d:OfficeEquipment 2022-06-01 2023-05-31 03553075 d:OfficeEquipment 2023-05-31 03553075 d:OfficeEquipment 2022-05-31 03553075 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 03553075 d:ComputerEquipment 2022-06-01 2023-05-31 03553075 d:ComputerEquipment 2023-05-31 03553075 d:ComputerEquipment 2022-05-31 03553075 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 03553075 d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 03553075 d:CurrentFinancialInstruments 2023-05-31 03553075 d:CurrentFinancialInstruments 2022-05-31 03553075 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 03553075 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 03553075 d:ShareCapital 2023-05-31 03553075 d:ShareCapital 2022-05-31 03553075 d:RetainedEarningsAccumulatedLosses 2023-05-31 03553075 d:RetainedEarningsAccumulatedLosses 2022-05-31 03553075 c:FRS102 2022-06-01 2023-05-31 03553075 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 03553075 c:FullAccounts 2022-06-01 2023-05-31 03553075 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 03553075










BOTANICALS & NATURAL PRODUCTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
BOTANICALS & NATURAL PRODUCTS LIMITED
REGISTERED NUMBER: 03553075

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,824
6,527

Current assets
  

Stocks
  
209,119
218,948

Debtors: amounts falling due within one year
 5 
211,755
321,250

Bank and cash balances
  
5,379
14,304

  
426,253
554,502

Creditors: amounts falling due within one year
 6 
(355,638)
(422,020)

Net current assets
  
 
 
70,615
 
 
132,482

Total assets less current liabilities
  
77,439
139,009

Provisions for liabilities
  

Deferred tax
  
(1,240)
(1,240)

Net assets
  
76,199
137,769


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
66,199
127,769

  
76,199
137,769


Page 1

 
BOTANICALS & NATURAL PRODUCTS LIMITED
REGISTERED NUMBER: 03553075
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

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.

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 L Baker
Director

Date: 14 February 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BOTANICALS & NATURAL PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Botanicals & Natural Products Limited, registered number 03553075, is a private company limited by shares. It is incorporated in England & Wales. The registered office is Sterling House, Stroudley Road, Basingstoke, Hampshire, RG24 8UG.

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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
BOTANICALS & NATURAL PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
BOTANICALS & NATURAL PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.7

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 reporting 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 reporting 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 reporting date.

 
2.8

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33% straight line
Motor vehicles
-
50% straight line
Office equipment
-
25% straight line

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.

Page 5

 
BOTANICALS & NATURAL PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.9

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 reporting 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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

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 reporting 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 Statement of Financial Position.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the
Page 6

 
BOTANICALS & NATURAL PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.15

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 was 5 (2022 - 5).

Page 7

 
BOTANICALS & NATURAL PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2022
32,857
7,025
23,014
62,896


Additions
-
1,632
2,015
3,647


Disposals
-
(845)
(5,973)
(6,818)



At 31 May 2023

32,857
7,812
19,056
59,725



Depreciation


At 1 June 2022
32,857
5,582
17,930
56,369


Charge for the year on owned assets
-
666
2,672
3,338


Disposals
-
(833)
(5,973)
(6,806)



At 31 May 2023

32,857
5,415
14,629
52,901



Net book value



At 31 May 2023
-
2,397
4,427
6,824



At 31 May 2022
-
1,443
5,084
6,527

Page 8

 
BOTANICALS & NATURAL PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
206,998
319,414

Other debtors
3,968
979

Prepayments and accrued income
789
857

211,755
321,250



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
172,238
241,608

Trade creditors
129,113
121,569

Corporation tax
-
989

Other taxation and social security
45,687
48,854

Accruals and deferred income
8,600
9,000

355,638
422,020


The bank loan is an advance from Lloyds TSB Commercial Finance Limited.  This is secured by way of a mortgage debenture on all the assets of the company.

 
Page 9