ROOT STORE LTD

Company Registration Number:
11075414 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2023

Period of accounts

Start date: 01 December 2022

End date: 30 November 2023

ROOT STORE LTD

Contents of the Financial Statements

for the Period Ended 30 November 2023

Balance sheet
Notes

ROOT STORE LTD

Balance sheet

As at 30 November 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 210,000 245,000
Tangible assets: 4 122,286 104,139
Total fixed assets: 332,286 349,139
Current assets
Stocks: 305,660 125,410
Debtors:   15,779 25,166
Cash at bank and in hand: 46,384 12,788
Total current assets: 367,823 163,364
Creditors: amounts falling due within one year:   (635,178) (455,020)
Net current assets (liabilities): (267,355) (291,656)
Total assets less current liabilities: 64,931 57,483
Creditors: amounts falling due after more than one year:   (26,857) (36,853)
Provision for liabilities: (23,234) (19,786)
Total net assets (liabilities): 14,840 844
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 14,740 744
Shareholders funds: 14,840 844

The notes form part of these financial statements

ROOT STORE LTD

Balance sheet statements

For the year ending 30 November 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 21 October 2024
and signed on behalf of the board by:

Name: Mr N Melveettil
Status: Director

The notes form part of these financial statements

ROOT STORE LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: the Company has transferred the significant risks and rewards of ownership to the buyer; the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the transaction; and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible fixed assets Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis: Plant and machinery - 15% per annum on a reducing balance basis. Motor vehicles - 20% per annum on a reducing balance basis. Fixtures and fittings - 15% per annum on a reducing balance basis. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Intangible fixed assets and amortisation policy

Intangible assets Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life. Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Other accounting policies

Stocks Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is 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.

ROOT STORE LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

2. Employees

2023 2022
Average number of employees during the period 6 4

ROOT STORE LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Intangible Assets

Total
Cost £
At 01 December 2022 350,000
At 30 November 2023 350,000
Amortisation
At 01 December 2022 105,000
Charge for year 35,000
At 30 November 2023 140,000
Net book value
At 30 November 2023 210,000
At 30 November 2022 245,000

ROOT STORE LTD

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Tangible Assets

Total
Cost £
At 01 December 2022 153,378
Additions 40,150
At 30 November 2023 193,528
Depreciation
At 01 December 2022 49,239
Charge for year 22,003
At 30 November 2023 71,242
Net book value
At 30 November 2023 122,286
At 30 November 2022 104,139