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Registered number: 08152227
Rose Partners Ltd
Financial Statements
For The Year Ended 29 July 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 08152227
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 387,532 505,651
387,532 505,651
CURRENT ASSETS
Debtors 5 324,982 118,008
Cash at bank and in hand 880 20,736
325,862 138,744
Creditors: Amounts Falling Due Within One Year 6 (229,036 ) (1,582,782 )
NET CURRENT ASSETS (LIABILITIES) 96,826 (1,444,038 )
TOTAL ASSETS LESS CURRENT LIABILITIES 484,358 (938,387 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (304 ) (928 )
NET ASSETS/(LIABILITIES) 484,054 (939,315 )
CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 1,500,000 -
Profit and Loss Account (1,016,046 ) (939,415 )
SHAREHOLDERS' FUNDS 484,054 (939,315)
Page 1
Page 2
For the year ending 29 July 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Twysden Moore
Director
15/04/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Other reserves Profit and Loss Account Total
£ £ £ £
As at 31 July 2022 100 - 75,949 76,049
Loss for the year and total comprehensive income - - (1,015,364 ) (1,015,364)
As at 29 July 2023 and 30 July 2023 100 - (939,415 ) (939,315)
Loss for the year and total comprehensive income - - (76,631 ) (76,631)
Movements in other reserves - 1,500,000 - 1,500,000
As at 29 July 2024 100 1,500,000 (1,016,046 ) 484,054
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Notes to the Financial Statements
1. General Information
Rose Partners Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08152227 . The registered office is Unit 14 Greenway Farm, Bath Road, Wick, Bristol, BS30 5RL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% straight line
Investment Assets are initially valued at cost and then carried at fair value determined annually. They are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 3 3
3 3
4. Tangible Assets
Investment Assets Fixtures & Fittings Total
£ £ £
Cost
As at 30 July 2023 501,492 26,852 528,344
Disposals (115,622 ) (20,657 ) (136,279 )
As at 29 July 2024 385,870 6,195 392,065
Depreciation
As at 30 July 2023 - 22,693 22,693
Provided during the period - 2,484 2,484
Disposals - (20,644 ) (20,644 )
As at 29 July 2024 - 4,533 4,533
Net Book Value
As at 29 July 2024 385,870 1,662 387,532
As at 30 July 2023 501,492 4,159 505,651
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 55,300 22,564
Prepayments and accrued income 250,428 -
Other debtors - 16,702
Corporation tax recoverable assets - 51,822
Other taxes and social security 19,254 26,920
324,982 118,008
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 29,572 18,055
Other creditors 3,908 76,958
Directors' loan accounts 195,556 267,010
Amounts owed to related parties - 1,220,759
229,036 1,582,782
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Page 6
7. Related Party Transactions
Rose HSS Ltd. (Company number: 08608247)
As at 29 July 2024, the directors and shareholders of Rose Partners Ltd also held 100% of the total shares in Rose HSS Ltd.
During the year, Rose Partners Ltd repaid the outstanding loan to Rose HSS Ltd of £1,220,759.
Capital Contribution
During the year, shareholder loans amounting to £1.5 million were converted into equity through a capital contribution. The loans, which were previously classified as financial liabilities, were reclassified to equity in accordance with the terms agreed with the shareholders. The conversion did not involve the issuance of additional shares and was recorded in the capital contribution reserve. The transaction strengthens the company's equity position and reduces its financial leverage.
The loans were non-interest-bearing and repayable on demand prior to the conversion.
8. Controlling Party
The company is jointly controlled by Mr Christopher Crawford and Mr Twysden Moore, who each hold 45% of the issued share capital in the company.
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