Company Registration No. 02192661 (England and Wales)
RUPERT GOODDY PLANTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
RUPERT GOODDY PLANTS LIMITED
COMPANY INFORMATION
Director
Mr F R Gooddy
Company number
02192661
Registered office
Buckland Road
Bampton
Oxon
OX18 2AA
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
1 Legg Street
Chelmsford
Essex
CM1 1JS
RUPERT GOODDY PLANTS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
RUPERT GOODDY PLANTS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RUPERT GOODDY PLANTS LIMITED FOR THE YEAR ENDED 30 JUNE 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rupert Gooddy Plants Limited for the year ended 30 June 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Rupert Gooddy Plants Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rupert Gooddy Plants Limited and state those matters that we have agreed to state to the Board of Directors of Rupert Gooddy Plants Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rupert Gooddy Plants Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Rupert Gooddy Plants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rupert Gooddy Plants Limited. You consider that Rupert Gooddy Plants Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Rupert Gooddy Plants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
18 January 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
RUPERT GOODDY PLANTS LIMITED
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
504
Tangible assets
4
954,140
768,750
Investments
5
100
954,240
769,254
Current assets
Stocks
333,542
324,196
Debtors
6
1,648,110
225,209
Cash at bank and in hand
629,593
1,663,115
2,611,245
2,212,520
Creditors: amounts falling due within one year
7
(831,390)
(749,334)
Net current assets
1,779,855
1,463,186
Total assets less current liabilities
2,734,095
2,232,440
Creditors: amounts falling due after more than one year
8
(50,800)
(50,800)
Provisions for liabilities
9
(41,384)
(48,502)
Net assets
2,641,911
2,133,138
Capital and reserves
Called up share capital
10
104
103
Profit and loss reserves
2,641,807
2,133,035
Total equity
2,641,911
2,133,138
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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.
RUPERT GOODDY PLANTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023
30 June 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 18 January 2024 and are signed on its behalf by:
Mr F R Gooddy
Director
Company Registration No. 02192661
RUPERT GOODDY PLANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
1
Accounting policies
Company information
Rupert Gooddy Plants Limited is a private company limited by shares incorporated in England and Wales. The registered office is Buckland Road, Bampton, Oxon, OX18 2AA.
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and has been fully amortised on a systematic basis over its expected life of 5 years.
1.4
Intangible fixed assets other than goodwill
Website and software
20% on cost
1.5
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:
Freehold land and buildings
Nil and 5% on cost
Improvements to property
5% on cost
Plant and machinery
15% on cost
Fixtures and fittings
20% on cost
Computer equipment
30% on cost
Motor vehicles
25% on cost
Freehold land is not depreciated.
RUPERT GOODDY PLANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
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.
1.6
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.7
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.8
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.
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.
RUPERT GOODDY PLANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 6 -
1.9
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
1.12
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 37 (2022 - 35).
3
Intangible fixed assets
Goodwill
Website and software
Total
£
£
£
Cost
At 1 July 2022 and 30 June 2023
10,000
5,028
15,028
Amortisation and impairment
At 1 July 2022
10,000
4,524
14,524
Amortisation charged for the year
504
504
At 30 June 2023
10,000
5,028
15,028
Carrying amount
At 30 June 2023
At 30 June 2022
504
504
RUPERT GOODDY PLANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
4
Tangible fixed assets
Freehold land and buildings
Improvements to property
Plant and machinery
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 July 2022
265,646
445,414
708,317
126,228
89,606
153,211
1,788,422
Additions
3,000
167,303
68,076
8,222
3,683
90,260
340,544
Disposals
(53,100)
(53,100)
At 30 June 2023
268,646
612,717
723,293
134,450
93,289
243,471
2,075,866
Depreciation and impairment
At 1 July 2022
141,819
71,255
543,155
99,188
73,006
91,248
1,019,671
Depreciation charged in the year
2,063
30,640
47,115
14,361
9,388
51,588
155,155
Eliminated in respect of disposals
(53,100)
(53,100)
At 30 June 2023
143,882
101,895
537,170
113,549
82,394
142,836
1,121,726
Carrying amount
At 30 June 2023
124,764
510,822
186,123
20,901
10,895
100,635
954,140
At 30 June 2022
123,827
374,159
165,162
27,039
16,600
61,963
768,750
RUPERT GOODDY PLANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
4
Tangible fixed assets
(Continued)
- 8 -
Included in freehold land and buildings is freehold land of £90,525 (2022 - £90,525) which is not depreciated.
5
Fixed asset investments
2023
2022
£
£
Investments
100
-
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 July 2022
-
Additions
100
At 30 June 2023
100
Carrying amount
At 30 June 2023
100
At 30 June 2022
-
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
158,360
197,110
Amounts owed by group undertakings
137,484
Other debtors
1,352,266
28,099
1,648,110
225,209
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
389,685
292,941
Taxation and social security
376,401
387,077
Other creditors
65,304
69,316
831,390
749,334
RUPERT GOODDY PLANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 9 -
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
50,800
50,800
9
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
41,384
48,502
10
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100
1 Ordinary B of £1 each
1
1
1 Ordinary C of £1 each
1
1
2 Ordinary D of £1 each
2
1
104
103
11
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
12
Ultimate controlling party
The ultimate controlling party at 30th June 2023 was Mr R J Gooddy.
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