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REGISTERED NUMBER: 10492506 (England and Wales)










ROOTS Organics Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






ROOTS Organics Limited (Registered number: 10492506)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROOTS Organics Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Dr Angela Leigh Cronje
Mrs Sarah Jane Blackhurst





REGISTERED OFFICE: Old Sunday School
Chapel Lane
Hoghton
Preston
Lancashire
PR5 0RY





REGISTERED NUMBER: 10492506 (England and Wales)






ROOTS Organics Limited (Registered number: 10492506)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,660 2,342

CURRENT ASSETS
Debtors 5 14,545 38,035
Cash at bank 42,163 64,381
56,708 102,416
CREDITORS
Amounts falling due within one year 6 (30,821 ) (74,359 )
NET CURRENT ASSETS 25,887 28,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,547

30,399

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 28,447 30,299
28,547 30,399

ROOTS Organics Limited (Registered number: 10492506)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:




Dr Angela Leigh Cronje - Director



Mrs Sarah Jane Blackhurst - Director


ROOTS Organics Limited (Registered number: 10492506)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Old Sunday School Chapel Lane
Hoghton
Preston
Lancashire
PR5 0RY
Great Britain

2. 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Office equipment - 33% on reducing balance

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Statement of Retained Earnings, 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.

ROOTS Organics Limited (Registered number: 10492506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

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.

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.

DIVIDEND
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

ROOTS Organics Limited (Registered number: 10492506)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 April 2023 9,507
Additions 1,251
At 31 March 2024 10,758
DEPRECIATION
At 1 April 2023 7,165
Charge for year 933
At 31 March 2024 8,098
NET BOOK VALUE
At 31 March 2024 2,660
At 31 March 2023 2,342

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,255 27,952
Directors' current accounts - 9,985
Prepayments 290 98
14,545 38,035

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,226 1,426
Corporation tax 15,771 19,644
PAYE and NIC creditor - 171
VAT 6,263 8,899
Directors' current accounts 5,561 43,420
Accrued expenses - 799
30,821 74,359