The Rose Shenfield Limited
Unaudited Financial Statements
For the year ended 31 July 2023
Pages for Filing with Registrar
Company Registration No. 12421621 (England and Wales)
The Rose Shenfield Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
The Rose Shenfield Limited
Balance Sheet
As at 31 July 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
51,793
63,129
Current assets
Stock
14,971
12,002
Cash at bank and in hand
81,622
113,454
96,593
125,456
Creditors: amounts falling due within one year
4
(144,050)
(155,267)
Net current liabilities
(47,457)
(29,811)
Total assets less current liabilities
4,336
33,318
Creditors: amounts falling due after more than one year
5
(17,500)
(27,500)
Net (liabilities)/assets
(13,164)
5,818
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
(13,166)
5,816
Total equity
(13,164)
5,818

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial 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 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 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.

The Rose Shenfield Limited
Balance Sheet (Continued)
As at 31 July 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 24 July 2024 and are signed on its behalf by:
M Stevens
Director
Company Registration No. 12421621
The Rose Shenfield Limited
Notes to the Financial Statements
For the year ended 31 July 2023
Page 3
1
Accounting policies
Company information

The Rose Shenfield Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.

1.1
Reporting period
The previous financial statements are presented for a period longer than one year, due to the company extending the year end from 31 January 2022 to 31 July 2022. Therefore, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.2
Accounting convention

These financial statements have been prepared in accordance with Section 1A of 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
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:

Plant and equipment
20% straight line
Fixtures and fittings
20% straight line

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.

1.5
Stock

Stock 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 stock to their present location and condition.

 

Stock held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

The Rose Shenfield Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
1
Accounting policies
(Continued)
Page 4

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock 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.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
45
17
The Rose Shenfield Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
Page 5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022
66,324
Additions
2,223
At 31 July 2023
68,547
Depreciation and impairment
At 1 August 2022
3,195
Depreciation charged in the year
13,559
At 31 July 2023
16,754
Carrying amount
At 31 July 2023
51,793
At 31 July 2022
63,129
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,000
10,000
Trade creditors
19,686
21,976
Taxation and social security
20,086
26,370
Other creditors
89,690
93,921
Accruals and deferred income
4,588
3,000
144,050
155,267
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
17,500
27,500
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
The Rose Shenfield Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
Page 6
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
92,488
92,488
8
Related party transactions

At the period end, included in other creditors is an amount of £52,014 (2022: £86,236) due to the director.

 

Also included in other creditors is an amount of £37,676 (2022: £7,685) due to a company with common ownership.

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