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Registration number: 13552572

Roots (Worthing) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

image-name
 

Roots (Worthing) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Roots (Worthing) Ltd

Company Information

Director

Lady Georgia Arianna Colin Campbell

Registered office

Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Roots (Worthing) Ltd

(Registration number: 13552572)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

56,193

67,561

Current assets

 

Stocks

5

10,750

8,500

Debtors

6

155,131

7,224

Cash at bank and in hand

 

1,501

3,238

 

167,382

18,962

Creditors: Amounts falling due within one year

7

(378,073)

(277,859)

Net current liabilities

 

(210,691)

(258,897)

Net liabilities

 

(154,498)

(191,336)

Capital and Reserves

 

Called up share capital

100

100

Retained Earnings

(154,598)

(191,436)

Shareholders' deficit

 

(154,498)

(191,336)

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 May 2025
 

.........................................
Lady Georgia Arianna Colin Campbell
Director

   
     
 

Roots (Worthing) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
England

These financial statements were authorised for issue by the director on 7 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

These accounts have been prepared on a going concern basis notwithstanding the company's net liability position at the balance sheet date. The director is confident that with her continued support, the company can remain in operational existence for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Roots (Worthing) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

33% on cost

Office equipment

33% on cost

Leasehold

Straight line over the term of the lease

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Roots (Worthing) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Roots (Worthing) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

2024
 No.

2023
 No.

Other departments

3

3

3

3

4

Tangible Assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

77,964

9,644

4,502

92,110

Additions

-

498

828

1,326

At 31 August 2024

77,964

10,142

5,330

93,436

Depreciation

At 1 September 2023

15,819

6,261

2,469

24,549

Charge for the year

7,796

3,278

1,620

12,694

At 31 August 2024

23,615

9,539

4,089

37,243

Carrying amount

At 31 August 2024

54,349

603

1,241

56,193

At 31 August 2023

62,145

3,383

2,033

67,561

Included within the net book value of land and buildings above is £54,349 (2023 - £62,145) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

10,750

8,500

 

Roots (Worthing) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Debtors

Current

2024
£

2023
£

Prepayments

1,500

1,500

Other debtors

153,631

5,724

 

155,131

7,224

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

3,121

-

Trade Creditors

 

1,090

3,628

Taxation and social security

 

7,119

3,411

Accruals and deferred income

 

8,886

8,862

Other creditors

 

357,857

261,958

 

378,073

277,859

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

18

-

Other borrowings

3,103

-

3,121

-

 

Roots (Worthing) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £28,500 (2023 - £46,500). These are commitments under non-cancellable operating leases.Financial commitments relate to operating lease payments committed to be paid over periods following the balance sheet date. The total commitment payable within one year is £18,000, with the balance of comittments falling due for payment more than one year after the balance sheet date.

10

Related party transactions

Summary of transactions with other related parties

During the year, the company received an interest free loan of £198,871 from the Castle Goring Limited and an interest free loan from the Dynasty Press Limited of £166,986.
Castle Goring Limited and Dynasty Press Limited are companies in which Lady Georgia Arianna Colin Campbelll has a controlling interest.
The loans are repayable on demand.

 

Loans to related parties

2024

Key management
£

Total
£

At start of period

4,262

4,262

Repaid

(4,262)

(4,262)

At end of period

-

-

2023

Key management
£

Total
£

Advanced

4,262

4,262

At end of period

4,262

4,262

Terms of loans to related parties

During the year the company provided the director with a loan which was interest free, unsecured and repaybale on demand.
 

 

Roots (Worthing) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Loans from related parties

2024

Key management
£

Total
£

Advanced

3,103

3,103

At end of period

3,103

3,103

2023

Key management
£

Total
£

At start of period

1,278

1,278

Repaid

(1,278)

(1,278)

At end of period

-

-

Terms of loans from related parties

During the year the director provided the company with a loan which was interest free, unsecured and repaybale on demand.