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Registration number: 10991873

John Rossiter Ltd

Unaudited Financial Statements

for the Period from 1 November 2022 to 30 April 2024

 

John Rossiter Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

John Rossiter Ltd

(Registration number: 10991873)
Balance Sheet as at 30 April 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

5

-

42,875

Current assets

 

Stocks

6

-

45,000

Debtors

7

-

47,324

Cash at bank and in hand

 

25,630

3,262

 

25,630

95,586

Creditors: Amounts falling due within one year

8

(19,676)

(88,110)

Net current assets

 

5,954

7,476

Total assets less current liabilities

 

5,954

50,351

Creditors: Amounts falling due after more than one year

8

-

(24,958)

Provisions for liabilities

-

(4,129)

Net assets

 

5,954

21,264

Capital and reserves

 

Called up share capital

10

10

Revaluation reserve

-

21,143

Retained earnings

5,944

111

Shareholders' funds

 

5,954

21,264

 

John Rossiter Ltd

(Registration number: 10991873)
Balance Sheet as at 30 April 2024

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 September 2024
 

.........................................
Mr J Rossiter
Director

 

John Rossiter Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

1

General information

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

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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.

 

John Rossiter Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

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 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

Computer equipment

20% Reducing balance

Plant and machinery

20% Reducing balance

Motor vehicles

20% Reducing balance

Fixtures and fittings

20% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

John Rossiter Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 5 years

Franchise fee

Straight line over 5 years

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.

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.

 

John Rossiter Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 2).

4

Intangible assets

Goodwill
 £

Franchise Licence
 £

Total
£

Cost or valuation

At 1 November 2022

50,874

12,500

63,374

Disposals

(50,874)

(12,500)

(63,374)

At 30 April 2024

-

-

-

Amortisation

At 1 November 2022

50,874

12,500

63,374

Amortisation eliminated on disposals

(50,874)

(12,500)

(63,374)

At 30 April 2024

-

-

-

Carrying amount

At 30 April 2024

-

-

-

 

John Rossiter Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

5

Tangible assets

Fixtures, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2022

3,977

75,982

4,684

84,643

Revaluations

-

(21,144)

-

(21,144)

Disposals

(3,977)

(54,838)

(4,684)

(63,499)

At 30 April 2024

-

-

-

-

Depreciation

At 1 November 2022

2,276

36,869

2,623

41,768

Eliminated on disposal

(2,276)

(36,869)

(2,623)

(41,768)

At 30 April 2024

-

-

-

-

Carrying amount

At 30 April 2024

-

-

-

-

At 31 October 2022

1,701

39,113

2,061

42,875

6

Stocks

2024
£

2022
£

Stock

-

45,000

7

Debtors

Current

2024
£

2022
£

Trade debtors

-

44,640

Other debtors

-

2,684

 

-

47,324

 

John Rossiter Ltd

Notes to the Unaudited Financial Statements for the Period from 1 November 2022 to 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Due within one year

 

Bank Loan

-

10,380

Trade creditors

 

6,537

20,548

Taxation and social security

 

-

2,599

Other creditors

 

13,139

54,583

 

19,676

88,110

Creditors: amounts falling due after more than one year

2024
£

2022
£

Due after one year

 

Bank Loan

-

24,958