Registration number:
Japanese Knotweed Limited
for the Year Ended 30 November 2023
Japanese Knotweed Limited
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Japanese Knotweed Limited
Company Information
Directors |
S N Wreford J D Stangroom B Lindley |
Registered office |
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Accountants |
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Japanese Knotweed Limited
(Registration number: 07428170)
Balance Sheet as at 30 November 2023
Note |
2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
80 |
80 |
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Capital redemption reserve |
20 |
20 |
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Retained earnings |
406,491 |
323,088 |
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Shareholders' funds |
406,591 |
323,188 |
Japanese Knotweed Limited
(Registration number: 07428170)
Balance Sheet as at 30 November 2023
For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Japanese Knotweed Limited
Statement of Changes in Equity for the Year Ended 30 November 2023
Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 1 December 2022 |
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Profit for the year |
- |
- |
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Dividends |
- |
- |
( |
( |
At 30 November 2023 |
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Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 1 December 2021 |
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Profit for the year |
- |
- |
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Dividends |
- |
- |
( |
( |
At 30 November 2022 |
80 |
20 |
323,088 |
323,188 |
Japanese Knotweed Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal place of business is:
13A Westlink
Belbins Business Park
Cupernham Lane
Romsey
Hampshire
SO51 7JF
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Japanese Knotweed Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Government grants
Grants of a revenue nature are recognised in income in the period the related costs are incurred and for which the grant is intended to compensate.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & machinery |
25% on reducing balance |
Fixtures & fittings |
25% on reducing balance |
Motor vehicles |
Straight line over 5 years |
Office equipment |
Straight line over 3 years |
Buildings |
Straight line over 50 years |
Japanese Knotweed Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences (including software) and customer-related intangible assets (including software and website development costs) that are generated internally are recognised to the extent that the costs were incurred at the development stage. Costs incurred at the reasearch stage are expensed in the period the costs were incurred.
Where development stage costs are recognised as an intangible asset, the criteria for recognition including the intention and ability to use the intangible asset within the business and the ability to measure reliably the expenditure attributable to the intangible asset during its development has been met.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life . Trade marks are held at their nominal value
Asset class |
Amortisation method and rate |
Trade marks |
Nil |
Website and software development costs |
Straight line over 5 years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Japanese Knotweed Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Japanese Knotweed Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Trademarks, patents and licenses |
Internally generated software development costs |
Other intangible assets |
Total |
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Cost or valuation |
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At 1 December 2022 |
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At 30 November 2023 |
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Amortisation |
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At 1 December 2022 |
- |
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Amortisation charge |
- |
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At 30 November 2023 |
- |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Internally generated software development costs of £94,282 and the external costs of £9,084 disclosed under Other intangible assets comprise the development and launch of the company's new website and software system.
Japanese Knotweed Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Tangible assets |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 December 2022 |
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Additions |
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Disposals |
- |
- |
( |
( |
At 30 November 2023 |
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Depreciation |
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At 1 December 2022 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
( |
( |
At 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Stocks |
2023 |
2022 |
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Other inventories |
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Debtors |
Note |
2023 |
2022 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Japanese Knotweed Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Other non-current financial liabilities |
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Non-current loans and borrowings
2023 |
2022 |
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Bank borrowings |
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HP and finance lease liabilities |
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Japanese Knotweed Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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76 |
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74 |
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4 |
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6 |
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Loans and borrowings |
Non-current loans and borrowings
2023 |
2022 |
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Bank borrowings |
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Hire purchase contracts |
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Current loans and borrowings
2023 |
2022 |
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Bank borrowings |
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Hire purchase contracts |
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Japanese Knotweed Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Dividends |
Interim dividends paid
2023 |
2022 |
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Interim dividend of £ |
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Interim dividend of £ |
- |
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Interim dividend of £ |
- |
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Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
2023 |
2022 |
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Remuneration |
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Contributions paid to money purchase schemes |
- |
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12,213 |
96,267 |
Summary of transactions with parent
Summary of transactions with subsidiaries
Summary of transactions with other related parties
Parent and ultimate parent undertaking |
The company's immediate parent and ultimate controlling party is