2022-08-01 2023-07-31 09112599 Root Accountants Ltd false 09112599 2022-08-01 2023-07-31 09112599 uk-bus:Director1 2022-08-01 2023-07-31 09112599 uk-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 09112599 uk-bus:SmallEntities 2022-08-01 2023-07-31 09112599 uk-bus:FullAccounts 2022-08-01 2023-07-31 09112599 uk-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 09112599 2022-08-01 09112599 2023-07-31 09112599 2022-07-31 xbrli:pure iso4217:GBP 09112599 2021-08-01 2022-07-31
Company Registration Number : 09112599 (England and Wales)
09112599
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2023-07-31
false
Root Accountants Ltd
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2022-08-01
Root Accountants Ltd
Unaudited filleted financial statements
For the year ended 31 July 2023
Root Accountants Ltd
Contents
For the year ended 31 July 2023

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 6


Root Accountants Ltd
Company Information
For the year ended 31 July 2023

Company registration number 09112599 (England and Wales)
Directors Sumit Agarwal
Registered office address Sandown House
Sandbeck Way
Wetherby
LS22 7DN
Accountant DNS Associates
Chartered Management Accountants
Dns House
Harrow, Middlesex
HA3 8DP
Root Accountants Ltd
Statement of Financial Position
For the year ended 31 July 2023

2023 2022
Notes £ £
Fixed assets
Intangible assets 41,027 44,643
Property, plant and equipment 2,167 2,889
5 43,194 47,532
Current assets
Inventories - 5,370
Debtors 15,216 4,664
Cash and cash equivalents 59,032 92,408
74,248 102,441
Current liabilities
Creditors: Amounts falling due within one year (30,565) (39,447)
Corporation tax payable (11,379) (15,710)
(41,944) (55,156)
Net current assets/(liabilities) 32,304 47,285
Total assets less current liabilities 75,499 94,817
Non-current liabilities
Creditors: Amounts falling due after more than one year - (33,362)
Net assets/(liabilities) 75,499 61,455
Capital and reserves
Called up share capital 174 174
Retained earnings 75,325 61,281
Shareholder's funds 75,499 61,455
For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 31 July 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 responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 04 October 2023
.............................
Sumit Agarwal (Director)
Company registration number: 09112599
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2023-07-31 31 July 2023
2023 2022
£ £
Fixed Assets 43,194 47,532
Current Assets 72,771 99,341
Prepayments and accrued income 1,478 3,100
Creditors: amounts falling due within one year (41,944) (55,156)
Net current assets (liabilities) 32,304 47,285
Total assets less current liabilities 75,499 94,817
CREDITORS: Amounts falling due more than one year 0 (33,362)
Net Assets (liabilities) 75,499 61,455
Capital and Reserves 75,499 61,455
For the year ending 31/07/2023 the company was entitled to exemption 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. For the year ending 31-07-2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 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 in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 04 October 2023 2023-10-04 and signed on behalf of the board,
.............................
Sumit Agarwal
Director
Company registration number: 09112599
Root Accountants Ltd
Notes to the Financial Statements
For the year ended 31 July 2023

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Sandown House, Sandbeck Way, Wetherby, LS22 7DN.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Rendering of Services
Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.
Interest income
Interest income is recognised using the effective interest method.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill recognised at acquisition is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis over its useful life, which is estimated to be 20 years. Goodwill amortisation is included within administration expenses.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings25% reducing balance
Equipment
Motor Cars
Inventories
Inventories are measured at the lower of cost and net realisable value. Costs of inventories are determined on a first-in-first-out basis. Net realisable value represents the estimated selling price for inventories less all estimated costs necessary to make the sale.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Employee benefits
Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

(4) Employees
During the year, the average number of employees including director was 6 (2022 : 7).

(5) Fixed assets
Intangible

£
Tangible

£
Totals

£
Cost
As at 01 August 202272,3088,72681,034
As at 31 July 202372,3088,72681,034
Depreciation/Amortisation
As at 01 August 202227,6655,83733,502
For the year3,6157224,337
As at 31 July 202331,2806,55937,839
Net book value
As at 31 July 202341,0282,16743,195
As at 31 July 202244,6432,88947,532