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REGISTERED NUMBER: 10405095 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ROSE PRODUCE LIMITED

ROSE PRODUCE LIMITED (REGISTERED NUMBER: 10405095)






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


ROSE PRODUCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C P Bester
M J Hodson
G W Whalley





REGISTERED OFFICE: 27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE





REGISTERED NUMBER: 10405095 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

ROSE PRODUCE LIMITED (REGISTERED NUMBER: 10405095)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 105,945 66,394

CURRENT ASSETS
Stocks 1,097 12,668
Debtors 5 949,436 1,139,969
Cash at bank 96,183 139,639
1,046,716 1,292,276
CREDITORS
Amounts falling due within one year 6 981,396 1,161,864
NET CURRENT ASSETS 65,320 130,412
TOTAL ASSETS LESS CURRENT
LIABILITIES

171,265

196,806

PROVISIONS FOR LIABILITIES 24,500 16,500
NET ASSETS 146,765 180,306

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 146,665 180,206
SHAREHOLDERS' FUNDS 146,765 180,306

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.

ROSE PRODUCE LIMITED (REGISTERED NUMBER: 10405095)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





M J Hodson - Director


ROSE PRODUCE LIMITED (REGISTERED NUMBER: 10405095)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Rose Produce Limited 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.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and 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.

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.

ROSE PRODUCE LIMITED (REGISTERED NUMBER: 10405095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 - 9,509 86,553 96,062
Additions 3,022 2,665 64,376 70,063
Disposals - (329 ) - (329 )
At 31 March 2024 3,022 11,845 150,929 165,796
DEPRECIATION
At 1 April 2023 - 2,793 26,875 29,668
Charge for year 661 1,341 28,331 30,333
Eliminated on disposal - (150 ) - (150 )
At 31 March 2024 661 3,984 55,206 59,851
NET BOOK VALUE
At 31 March 2024 2,361 7,861 95,723 105,945
At 31 March 2023 - 6,716 59,678 66,394

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 918,144 1,099,278
Other debtors 31,292 40,691
949,436 1,139,969

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Advances in respect of invoice
discounting 212,438 171,652
Trade creditors 706,836 869,314
Taxation and social security 24,406 39,118
Other creditors 37,716 81,780
981,396 1,161,864

ROSE PRODUCE LIMITED (REGISTERED NUMBER: 10405095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 9,765 1,815
Between one and five years 7,164 -
16,929 1,815

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Invoice discounting advances 212,438 171,652

The invoice discounting advances are secured by the debenture in favour of Santander UK PLC by way of fixed and floating charges over the assets of the company.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
M J Hodson
Balance outstanding at start of year 12,167 15,415
Amounts advanced 35,036 55,257
Amounts repaid (38,285 ) (58,505 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,918 12,167

C P Bester
Balance outstanding at start of year 1,166 -
Amounts advanced 836 17,844
Amounts repaid (2,002 ) (16,678 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,166

Interest has been charged on loan balances over £10,000 at a rate of 2.00% until 5 April 2023 and 2.25% thereafter.