Silverfin false false 30/09/2024 01/10/2023 30/09/2024 R E Fermor 16/07/2010 P S Fermor 16/07/2010 E R Fermor 16/07/2010 J T Fermor 16/07/2010 14 March 2025 The principal activity of the Company during the financial year was: growing of vegetables, melons roots and tubers, wholesale of flowers and plants. and other retail sale of new goods in specialised stores. 07317855 2024-09-30 07317855 bus:Director1 2024-09-30 07317855 bus:Director2 2024-09-30 07317855 bus:Director3 2024-09-30 07317855 bus:Director4 2024-09-30 07317855 2023-09-30 07317855 core:CurrentFinancialInstruments 2024-09-30 07317855 core:CurrentFinancialInstruments 2023-09-30 07317855 core:ShareCapital 2024-09-30 07317855 core:ShareCapital 2023-09-30 07317855 core:OtherCapitalReserve 2024-09-30 07317855 core:OtherCapitalReserve 2023-09-30 07317855 core:RetainedEarningsAccumulatedLosses 2024-09-30 07317855 core:RetainedEarningsAccumulatedLosses 2023-09-30 07317855 core:LandBuildings 2023-09-30 07317855 core:PlantMachinery 2023-09-30 07317855 core:Vehicles 2023-09-30 07317855 core:OfficeEquipment 2023-09-30 07317855 core:LandBuildings 2024-09-30 07317855 core:PlantMachinery 2024-09-30 07317855 core:Vehicles 2024-09-30 07317855 core:OfficeEquipment 2024-09-30 07317855 2022-09-30 07317855 2023-10-01 2024-09-30 07317855 bus:FilletedAccounts 2023-10-01 2024-09-30 07317855 bus:SmallEntities 2023-10-01 2024-09-30 07317855 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 07317855 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07317855 bus:Director1 2023-10-01 2024-09-30 07317855 bus:Director2 2023-10-01 2024-09-30 07317855 bus:Director3 2023-10-01 2024-09-30 07317855 bus:Director4 2023-10-01 2024-09-30 07317855 core:LandBuildings core:TopRangeValue 2023-10-01 2024-09-30 07317855 core:PlantMachinery 2023-10-01 2024-09-30 07317855 core:Vehicles 2023-10-01 2024-09-30 07317855 core:OfficeEquipment 2023-10-01 2024-09-30 07317855 2022-10-01 2023-09-30 07317855 core:LandBuildings 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Company No: 07317855 (England and Wales)

RUMWOODS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

RUMWOODS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

RUMWOODS LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
RUMWOODS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTORS R E Fermor
P S Fermor
E R Fermor
J T Fermor
REGISTERED OFFICE Rumwood Nurseries & Garden Centre
Langley
Maidstone
Kent
ME17 3ND
United Kingdom
COMPANY NUMBER 07317855 (England and Wales)
ACCOUNTANT Evelyn Partners (South East) Limited
Brockbourne House
77 Mount Ephraim
Royal Tunbridge Wells
TN4 8BS
RUMWOODS LIMITED

BALANCE SHEET

As at 30 September 2024
RUMWOODS LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,878,044 1,839,408
1,878,044 1,839,408
Current assets
Stocks 251,098 249,103
Debtors 4 55,707 42,977
Cash at bank and in hand 1,135,151 1,151,498
1,441,956 1,443,578
Creditors: amounts falling due within one year 5 ( 791,712) ( 925,029)
Net current assets 650,244 518,549
Total assets less current liabilities 2,528,288 2,357,957
Provision for liabilities 6 ( 40,765) ( 10,778)
Net assets 2,487,523 2,347,179
Capital and reserves
Called-up share capital 200 200
Other reserves 530,859 530,859
Profit and loss account 1,956,464 1,816,120
Total shareholders' funds 2,487,523 2,347,179

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Rumwoods Limited (registered number: 07317855) were approved and authorised for issue by the Board of Directors on 14 March 2025. They were signed on its behalf by:

J T Fermor
Director
RUMWOODS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
RUMWOODS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rumwoods Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Rumwood Nurseries & Garden Centre, Langley, Maidstone, Kent, ME17 3ND, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The functional currency of Rumwoods Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Monetary amounts in these financial statements are stated in sterling and rounded to the nearest whole £1.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Turnover

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 sales 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 retained 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 transactions; and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independenty administered funds.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses. Historical cost inclues 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 intendd by management. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 10 - 15 % reducing balance
Vehicles 25 % reducing balance
Office equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance sheet date.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 45 45

3. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 October 2023 1,603,253 205,978 115,659 41,702 1,966,592
Additions 24,858 51,660 595 7,713 84,826
At 30 September 2024 1,628,111 257,638 116,254 49,415 2,051,418
Accumulated depreciation
At 01 October 2023 7,778 39,977 65,653 13,776 127,184
Charge for the financial year 2,966 26,110 12,534 4,580 46,190
At 30 September 2024 10,744 66,087 78,187 18,356 173,374
Net book value
At 30 September 2024 1,617,367 191,551 38,067 31,059 1,878,044
At 30 September 2023 1,595,475 166,001 50,006 27,926 1,839,408

4. Debtors

2024 2023
£ £
Trade debtors 44,350 32,369
Prepayments 11,357 10,608
55,707 42,977

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 178,547 191,133
Accruals 14,718 14,043
Corporation tax 116,230 119,557
Other taxation and social security 57,959 53,624
Other creditors 424,258 546,672
791,712 925,029

6. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 10,778) ( 10,778)
Charged to the Statement of Income and Retained Earnings ( 29,987) 0
At the end of financial year ( 40,765) ( 10,778)

7. Related party transactions

Included within creditors due within one year are amounts owed to the directors of the Company. The balance owed at the year ended was £265,257 (2023: £385,346). The loans are interest free and repayable on demand.

Included within creditors due within one year are amounts owed to a close relation to the director of the Company. The balance owed at the year ended was £154,564 (2023: £157,054). The loan is interest free and repayable on demand.