Company registration number 01029327 (England and Wales)
JOHN ROTHERY (WHOLESALE) COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
JOHN ROTHERY (WHOLESALE) COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
JOHN ROTHERY (WHOLESALE) COMPANY LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
28 February 2025
29 February 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
32,681
42,698
Current assets
Stocks
3,242,316
2,988,458
Debtors
6
983,704
919,194
Cash at bank and in hand
498,933
734,739
4,724,953
4,642,391
Creditors: amounts falling due within one year
7
(940,689)
(642,082)
Net current assets
3,784,264
4,000,309
Total assets less current liabilities
3,816,945
4,043,007
Provisions for liabilities
(5,107)
(5,107)
Net assets
3,811,838
4,037,900
Capital and reserves
Called up share capital
28,011
28,011
Profit and loss reserves
3,783,827
4,009,889
Total equity
3,811,838
4,037,900
For the financial year ended 28 February 2025 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 19 March 2025 and are signed on its behalf by:
Mr R G J Rothery
Director
Company registration number 01029327 (England and Wales)
JOHN ROTHERY (WHOLESALE) COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information
John Rothery (Wholesale) Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Rothery House, Waterberry Drive, Waterlooville, Hampshire, United Kingdom, PO7 7XX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets - goodwill
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.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
20% on Cost
Plant and equipment
15% on Cost
Fixtures and fittings
33% on cost, 25% on Cost and 20% on Cost
Motor vehicles
25% on Reducing balance
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.
JOHN ROTHERY (WHOLESALE) COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Stocks
Stocks are valued on an average cost basis after making provision for slow moving and obsolete stock.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
JOHN ROTHERY (WHOLESALE) COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
32
32
4
Intangible fixed assets
Goodwill
£
Cost
At 1 March 2024 and 28 February 2025
782,815
Amortisation and impairment
At 1 March 2024 and 28 February 2025
782,815
Carrying amount
At 28 February 2025
At 29 February 2024
5
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2024
279,522
40,913
119,357
27,810
467,602
Additions
9,158
9,158
At 28 February 2025
279,522
40,913
128,515
27,810
476,760
Depreciation and impairment
At 1 March 2024
279,522
27,359
101,998
16,025
424,904
Depreciation charged in the year
4,064
12,187
2,924
19,175
At 28 February 2025
279,522
31,423
114,185
18,949
444,079
Carrying amount
At 28 February 2025
9,490
14,330
8,861
32,681
At 29 February 2024
13,554
17,359
11,785
42,698
JOHN ROTHERY (WHOLESALE) COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
952,605
890,303
Other debtors
31,099
28,891
983,704
919,194
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
280,190
200,512
Amounts owed to group undertakings
23,630
23,630
Corporation tax
227,564
135,625
Other taxation and social security
391,541
262,194
Other creditors
17,764
20,121
940,689
642,082
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
980,000