Registered number
08943730
Rosebirch Limited
Filleted Accounts
31 May 2024
Rosebirch Limited
Registered number: 08943730
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 522,909 424,050
Current assets
Stocks 324,458 20,181
Debtors 4 468,741 448,643
Cash at bank and in hand 125,088 136,777
918,287 605,601
Creditors: amounts falling due within one year 5 (922,009) (620,129)
Net current liabilities (3,722) (14,528)
Total assets less current liabilities 519,187 409,522
Creditors: amounts falling due after more than one year 6 (141,169) (193,137)
Provisions for liabilities (128,482) (59,076)
Net assets 249,536 157,309
Capital and reserves
Called up share capital 100 100
Profit and loss account 249,436 157,209
Shareholders' funds 249,536 157,309
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S A Flynn
Director
Approved by the board on 17 September 2024
Rosebirch Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 10% straight line
Plant and machinery 20% and 25% reducing balance and 10% and 33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 31 25
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2023 50,303 616,483 666,786
Additions 58,831 142,997 201,828
Disposals - (13,350) (13,350)
At 31 May 2024 109,134 746,130 855,264
Depreciation
At 1 June 2023 13,034 229,702 242,736
Charge for the year 7,240 93,229 100,469
On disposals - (10,850) (10,850)
At 31 May 2024 20,274 312,081 332,355
Net book value
At 31 May 2024 88,860 434,049 522,909
At 31 May 2023 37,269 386,781 424,050
4 Debtors 2024 2023
£ £
Trade debtors 466,186 434,625
Other debtors 2,555 14,018
468,741 448,643
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20,290 37,578
Obligations under finance lease and hire purchase contracts 99,925 75,399
Trade creditors 514,703 385,048
Taxation and social security costs 243,649 68,827
Other creditors 43,442 53,277
922,009 620,129
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 20,209
Obligations under finance lease and hire purchase contracts 104,383 136,142
Other creditors 36,786 36,786
141,169 193,137
7 Other information
Rosebirch Limited is a private company limited by shares and incorporated in England. Its registered office is:
Birch House High Spen Ind Estate
High Spen
Rowlands Gill
Tyne & Wear
NE39 2PS
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