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REGISTERED NUMBER: 07649434 (England and Wales)















Financial Statements for the Year Ended 29 May 2023

for

Old Rope Walks Ltd

Old Rope Walks Ltd (Registered number: 07649434)






Contents of the Financial Statements
for the Year Ended 29 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Old Rope Walks Ltd

Company Information
for the Year Ended 29 May 2023







DIRECTOR: M J Girling





REGISTERED OFFICE: 8 Newington
Liverpool
Merseyside
L1 4EB





REGISTERED NUMBER: 07649434 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

Old Rope Walks Ltd (Registered number: 07649434)

Balance Sheet
29 May 2023

29.5.23 29.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,085 155,911

CURRENT ASSETS
Stocks 50,173 33,498
Debtors 5 397,777 401,169
Cash at bank 51,428 45,347
499,378 480,014
CREDITORS
Amounts falling due within one year 6 490,250 422,120
NET CURRENT ASSETS 9,128 57,894
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,213

213,805

CREDITORS
Amounts falling due after more than
one year

7

(33,364

)

(39,321

)

PROVISIONS FOR LIABILITIES (3,780 ) (13,839 )
NET ASSETS 43,069 160,645

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 42,969 160,545
SHAREHOLDERS' FUNDS 43,069 160,645

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Old Rope Walks Ltd (Registered number: 07649434)

Balance Sheet - continued
29 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 August 2024 and were signed by:





M J Girling - Director


Old Rope Walks Ltd (Registered number: 07649434)

Notes to the Financial Statements
for the Year Ended 29 May 2023

1. STATUTORY INFORMATION

Old Rope Walks Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Despite the company making a loss during the year the financial statements have been prepared on a going concern basis as the company has the continued support of its director.

Related party exemption
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.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received for the sale of food and beverages excluding value added tax. Turnover is recognised when the goods are consumed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and in accordance with the property

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.


Old Rope Walks Ltd (Registered number: 07649434)

Notes to the Financial Statements - continued
for the Year Ended 29 May 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2022 - 56 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30 May 2022 481,829
Disposals (60,990 )
At 29 May 2023 420,839
DEPRECIATION
At 30 May 2022 325,918
Charge for year 36,034
Eliminated on disposal (12,198 )
At 29 May 2023 349,754
NET BOOK VALUE
At 29 May 2023 71,085
At 29 May 2022 155,911

Old Rope Walks Ltd (Registered number: 07649434)

Notes to the Financial Statements - continued
for the Year Ended 29 May 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.5.23 29.5.22
£    £   
Amounts owed by group undertakings 372,282 372,282
Other debtors 25,495 28,887
397,777 401,169

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.5.23 29.5.22
£    £   
Bank loans and overdrafts 8,333 94,071
Trade creditors 116,002 -
Amounts owed to group undertakings 227,784 12,190
Taxation and social security 92,981 21,981
Other creditors 45,150 293,878
490,250 422,120

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.5.23 29.5.22
£    £   
Bank loans 33,364 39,321

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after 5 years 31 5,988

8. RELATED PARTY DISCLOSURES

M J Girling is also a director of OR Walks Holdings Limited. Included in creditors as at 29th May 2023 is £227,784 (2022 £12,190) owing to OR Walks Holdings Limited.

M J Girling is also a director of TB & TG Limited. Included in debtors as at 29th May 2023 is £372,282 (2022 £372,282) owing from TB & TG Limited.

These loans are interest free and repayable on demand.