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REGISTERED NUMBER: 01003826 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Rose Narrowboats Limited

Rose Narrowboats Limited (Registered number: 01003826)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Rose Narrowboats Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mrs A K Bain
A Grantham Jackson
Miss S L Taylor





SECRETARY: Mrs A K Bain





REGISTERED OFFICE: Fosse Way
Stretton Under Fosse
Rugby
Warwickshire
CV23 0PU





REGISTERED NUMBER: 01003826 (England and Wales)





ACCOUNTANTS: Gopsall Services Limited
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

Rose Narrowboats Limited (Registered number: 01003826)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 201,552 199,078

CURRENT ASSETS
Stocks 184,900 174,900
Debtors 5 217,475 248,903
Cash at bank and in hand 682 315
403,057 424,118
CREDITORS
Amounts falling due within one year 6 291,356 273,123
NET CURRENT ASSETS 111,701 150,995
TOTAL ASSETS LESS CURRENT
LIABILITIES

313,253

350,073

CREDITORS
Amounts falling due after more than one
year

7

(284,121

)

(322,683

)

PROVISIONS FOR LIABILITIES (33,708 ) (34,347 )
NET LIABILITIES (4,576 ) (6,957 )

CAPITAL AND RESERVES
Called up share capital 10 200 200
Revaluation reserve 11 89,023 89,023
Retained earnings (93,799 ) (96,180 )
SHAREHOLDERS' FUNDS (4,576 ) (6,957 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





A Grantham Jackson - Director


Rose Narrowboats Limited (Registered number: 01003826)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Rose Narrowboats 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 as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 etc - 25% on reducing balance, 10% on reducing balance and 2% on reducing balance

Government grants
Grants relating to revenue are recognised in line with the expenses they are intended to compensate.
Grants relating to capital are recognised in line with the estimated useful life of the asset.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

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.

Rose Narrowboats Limited (Registered number: 01003826)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 December 2022 345,011
Additions 8,203
At 30 November 2023 353,214
DEPRECIATION
At 1 December 2022 145,933
Charge for year 5,729
At 30 November 2023 151,662
NET BOOK VALUE
At 30 November 2023 201,552
At 30 November 2022 199,078

Cost or valuation at 30 November 2023 is represented by:

Plant and
machinery
etc
£   
Valuation in 2019 86,254
Valuation in 2021 13,200
Valuation in 2022 (10,431 )
Cost 264,191
353,214

If tangible fixed assets had not been revalued they would have been included at the following historical cost:

30.11.23 30.11.22
£    £   
Cost 264,191 255,989
Aggregate depreciation 151,662 145,932

NBV under the cost model would have been £112,529 (2022: £110,057).
Assets are valued by the directors based on their knowledge of the market.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 2,675 28,128
Amounts owed by group undertakings 190,731 190,731
Other debtors 24,069 30,044
217,475 248,903

Rose Narrowboats Limited (Registered number: 01003826)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 72,480 85,940
Hire purchase contracts (see note 8) 1,660 1,660
Trade creditors 70,534 64,926
Taxation and social security 38,973 42,777
Other creditors 107,709 77,820
291,356 273,123

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 104,816 138,570
Hire purchase contracts (see note 8) 1,107 2,767
Other creditors 178,198 181,346
284,121 322,683

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 111,000 111,000

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.11.23 30.11.22
£    £   
Net obligations repayable:
Within one year 1,660 1,660
Between one and five years 1,107 2,767
2,767 4,427

Non-cancellable operating leases
30.11.23 30.11.22
£    £   
Within one year 29,000 29,000
Between one and five years 112,000 112,000
In more than five years 826,000 854,000
967,000 995,000

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank overdrafts 37,378 39,779
Bank loans 139,918 184,731
177,296 224,510

Bank overdrafts and bank loans are secured by a fixed and floating charge over the company's assets.

Rose Narrowboats Limited (Registered number: 01003826)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
200 Ordinary 1 200 200

11. RESERVES
Revaluation
reserve
£   
At 1 December 2022
and 30 November 2023 89,023

12. PENSION COMMITMENTS

Pension commitments outstanding at the balance sheet date were £727 (2022: £261).

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Grantham Jackson.