Registered number
04465726
VILLAGE ROOTS TRADING COMPANY LIMITED
Unaudited Filleted Accounts
29 June 2024
VILLAGE ROOTS TRADING COMPANY LIMITED
Registered number: 04465726
Balance Sheet
as at 29 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,523 9,736
Investments 4 100 100
6,623 9,836
Current assets
Stocks 22,374 23,841
Debtors 5 7,120 9,785
Cash at bank and in hand 216,132 182,895
245,626 216,521
Creditors: amounts falling due within one year 6 (123,227) (96,108)
Net current assets 122,399 120,413
Total assets less current liabilities 129,022 130,249
Provisions for liabilities (1,412) (1,647)
Net assets 127,610 128,602
Capital and reserves
Called up share capital 4 4
Profit and loss account 127,606 128,598
Shareholders' funds 127,610 128,602
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs E Pennell
Director
Approved by the board on 28 March 2025
VILLAGE ROOTS TRADING COMPANY LIMITED
Notes to the Accounts
for the year ended 29 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over 10 years
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 16
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 30 June 2023 147,576 6,131 153,707
At 29 June 2024 147,576 6,131 153,707
Depreciation
At 30 June 2023 139,295 4,676 143,971
Charge for the year 2,849 364 3,213
At 29 June 2024 142,144 5,040 147,184
Net book value
At 29 June 2024 5,432 1,091 6,523
At 29 June 2023 8,281 1,455 9,736
4 Investments
Other
investments
£
Cost
At 30 June 2023 100
At 29 June 2024 100
5 Debtors 2024 2023
£ £
Other debtors 7,120 9,785
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 52,294 37,725
Taxation and social security costs 33,329 53,789
Other creditors 37,604 4,594
123,227 96,108
7 Other information
VILLAGE ROOTS TRADING COMPANY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Units 1 - 4
Crossley Farm Business Centre
Swan Lane
Winterbourne, Brisol
BS36 1RH
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