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REGISTERED NUMBER: 06464557 (England and Wales)

























Financial Statements

for the Year Ended 30 June 2024

for

Tudor Rose International Ltd

Tudor Rose International Ltd (Registered number: 06464557)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tudor Rose International Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: C P Couzins-Short
J F Gibson
J A Stephenson





REGISTERED OFFICE: Kingfisher Business Park
London road
Thrupp
Stroud
Gloucestershire
GL5 2BY





REGISTERED NUMBER: 06464557 (England and Wales)





ACCOUNTANTS: Mander Duffill
Chartered Accountants
The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR

Tudor Rose International Ltd (Registered number: 06464557)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,315,556 4,315,556
Tangible assets 5 131,200 137,317
Investments 6 1 1
4,446,757 4,452,874

CURRENT ASSETS
Stocks 84,559 187,003
Debtors 7 2,169,366 1,988,058
Cash at bank and in hand 11,022 11,002
2,264,947 2,186,063
CREDITORS
Amounts falling due within one year 8 3,917,400 3,563,551
NET CURRENT LIABILITIES (1,652,453 ) (1,377,488 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,794,304

3,075,386

CREDITORS
Amounts falling due after more than one
year

9

288,435

464,230
NET ASSETS 2,505,869 2,611,156

CAPITAL AND RESERVES
Called up share capital 10,661 10,661
Other reserves 1,748,250 1,748,250
Retained earnings 746,958 852,245
SHAREHOLDERS' FUNDS 2,505,869 2,611,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Tudor Rose International Ltd (Registered number: 06464557)

Balance Sheet - continued
30 June 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:





C P Couzins-Short - Director


Tudor Rose International Ltd (Registered number: 06464557)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Tudor Rose International Ltd 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.

Going concern
Management have prepared detailed forecasts for a period extending beyond 12 months from the date that these financial statements are approved and they consider that the company will operate within its current facilities.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects that period, or in the period of the revision and future periods if the revision affects both current and future period's.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Trade and other receivables - The allowance for doubtful debts involves significant management
judgement and management review individual receivables based upon individual creditworthiness,
current economic trends and historical bad debts on a portfolio basis.

Stock provisions - Significant estimates are involved in the determination of stock provisions.
Management exercise significant judgement in determining whether costs of stock items can be
recovered. A provision is made where a loss can be reliably estimated.

Tudor Rose International Ltd (Registered number: 06464557)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced
for customer returns, rebates or other similar allowances and is net of value added taxes. Turnover
includes revenue earned from the sale of goods.
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the company has transferred to the buyer the significant risks and rewards of ownership of the goods;
- the company retains neither continuing managerial involvement to the degree associated with
ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction can be measured reliably.

Specifically, revenue from the sale of goods is primarily recognised upon delivery of goods to
customers.

Goodwill
Goodwill arising on the acquisition of subsidiary undertakings and businesses, representing any excess of the consideration given over the fair value of the identifiable assets and liabilities acquired, is capitalised. The directors conduct an annual impairment review of goodwill as the directors believe it has a useful economic life of 50 years. Annual impairment along with any difference between the recoverable amount and the carrying value is charged to the profit and loss account as an impairment charge for the year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 33% on cost, 20% on cost and 15% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Tudor Rose International Ltd (Registered number: 06464557)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company uses various financial instruments including loans, cash, equity, capital and various
items such as trade debtors and creditors that arise directly from its operations. the main purpose of
these financial instruments is to raise finance for company operations.

Exposure to foreign currency, credit, liquidity and cash flow interest rate risks arise in the normal
course of the company business. These risks are limited by the company's financial management
policies and practices described below.

Market risk
Market risk encompasses three types of risk being price risk, interest rate risk and currency risk.

Price risk
The company operates in a competitive market. If the company does not continue to compete
effectively by developing its product range and responding to activities in the market it could lose
customers and its results, cash flow and financial conditions could adversely be affected.

Interest rate risk
The company's overdraft and cash at bank incur interest cost or income at market rates and the
company is therefore exposed to interest rate risk. The company is also exposed to interest rate risk
through the impact of rate changes on interest-bearing borrowings. The company's policy is to obtain
the most favourable interest rates available for its borrowings. The company does not use any
derivative instruments to reduce its economic exposure to changes in interest rates.

Foreign currency risk
The company makes purchases from suppliers from a number of suppliers whose invoices are
denominated in currencies other than sterling. The most frequently used currencies other than sterling
are the Euro, the Australian Dollar and the US Dollar.

Credit risk
The company's principal assets are cash deposits and trade debtors. The credit risk associated with
cash deposits is limited as the accounts are held with major UK high street banks only. The principal
credit risk arises therefore from its trade debtors and the company manages closely its exposure to
bad debts by strong credit control, credit checks for new accounts.

Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet
foreseeable needs and to invest cash assets safely and profitably. The company policy throughout the
year has been to hold cash balances in readily accessible cash deposits.

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 discounted where appropriate.

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.


Tudor Rose International Ltd (Registered number: 06464557)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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 group personal 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 28 (2023 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 4,403,629
AMORTISATION
At 1 July 2023
and 30 June 2024 88,073
NET BOOK VALUE
At 30 June 2024 4,315,556
At 30 June 2023 4,315,556

Tudor Rose International Ltd (Registered number: 06464557)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 747,970
Additions 23,534
At 30 June 2024 771,504
DEPRECIATION
At 1 July 2023 610,653
Charge for year 29,651
At 30 June 2024 640,304
NET BOOK VALUE
At 30 June 2024 131,200
At 30 June 2023 137,317

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 1
NET BOOK VALUE
At 30 June 2024 1
At 30 June 2023 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 1,604,732 1,549,748
Amounts owed by group undertakings 63,797 63,797
Other debtors 500,837 374,513
2,169,366 1,988,058

Tudor Rose International Ltd (Registered number: 06464557)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 760,426 573,487
Hire purchase contracts and finance leases (see note 10)
12,060

35,681
Payments on account 140,584 211,539
Trade creditors 1,521,760 1,386,998
Taxation and social security 83,605 57,324
Other creditors 1,398,965 1,298,522
3,917,400 3,563,551

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 266,667 444,445
Hire purchase contracts and finance leases (see note 10)
21,768

19,785
288,435 464,230

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
30.6.24 30.6.23 30.6.24 30.6.23
£    £    £    £   
Net obligations repayable:
Within one year 9,658 6,858 2,402 28,823
Between one and five years 21,768 19,218 - 567
31,426 26,076 2,402 29,390

Non-cancellable operating leases
30.6.24 30.6.23
£    £   
Within one year 128,803 123,044
Between one and five years 139,908 148,311
268,711 271,355

This note shows the aggregate of all the operating leases for the company. The operating leases relate to a number of different assets that are leased over varying periods.

Tudor Rose International Ltd (Registered number: 06464557)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank overdrafts 582,648 395,709
Bank loans 444,445 622,223
Invoice discounting facility 1,311,248 1,188,879
Hire purchase contracts and finance leases 33,828 55,466
2,372,169 2,262,277

The bank overdraft is secured by a floating charge over the company's assets in favour of HSBC Bank PLC.

Invoice discounting arrangements are secured upon the debts to which they relate.

The bank loan is secured by personal guarantee by the directors C P Couzins-Short and J A Stephenson to the extent of £30,000 each.

Hire purchase liabilities are secured upon the assets to which they relate.

12. RELATED PARTY DISCLOSURES

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.

Fees of £6,000 (2023 - £6,000) were paid to J F and H A Gibson and Associates Limited of whom J Gibson is a director. Included within trade creditors is an amount of £Nil (2023 - £Nil) being fees outstanding at 30 June 2024.