Registered number
09835886
RUSTIC WAREHOUSE NORFOLK LIMITED
Filleted Accounts
31 October 2024
RUSTIC WAREHOUSE NORFOLK LIMITED
Registered number: 09835886
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 270 270
Tangible assets 4 142,477 18,953
142,747 19,223
Current assets
Stocks 39,000 65,000
Debtors 5 7,329 9,924
Cash at bank and in hand 19,566 143,177
65,895 218,101
Creditors: amounts falling due within one year 6 (55,954) (81,295)
Net current assets 9,941 136,806
Total assets less current liabilities 152,688 156,029
Creditors: amounts falling due after more than one year 7 (2,909) -
Net assets 149,779 156,029
Capital and reserves
Called up share capital 100 100
Profit and loss account 149,679 155,929
Shareholders' funds 149,779 156,029
The directors are 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 directors acknowledge their 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.
Miss L Banham
Director
Approved by the board on 23 June 2025
RUSTIC WAREHOUSE NORFOLK LIMITED
Notes to the Accounts
for the year ended 31 October 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.
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2023 270
At 31 October 2024 270
Amortisation
At 31 October 2024 -
Net book value
At 31 October 2024 270
At 31 October 2023 270
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 - 5,060 26,958 32,018
Additions 124,300 2,095 4,000 130,395
Disposals - - (5,000) (5,000)
At 31 October 2024 124,300 7,155 25,958 157,413
Depreciation
At 1 November 2023 - 2,704 10,361 13,065
Charge for the year - 1,113 3,710 4,823
On disposals - - (2,952) (2,952)
At 31 October 2024 - 3,817 11,119 14,936
Net book value
At 31 October 2024 124,300 3,338 14,839 142,477
At 31 October 2023 - 2,356 16,597 18,953
5 Debtors 2024 2023
£ £
Trade debtors 3,487 2,178
Other debtors 3,842 7,746
7,329 9,924
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 8,685 13,937
Taxation and social security costs 2,879 9,397
Other creditors 44,390 57,961
55,954 81,295
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,909 -
8 Other information
RUSTIC WAREHOUSE NORFOLK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
73a Feltwell Road
Southery
Downham Market
Norfolk
PE38 0NS
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