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herSpecificReserve3ComponentTotalEquity2023-08-31
REGISTERED NUMBER: 02892358 (England and Wales)













STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE PERIOD

1 SEPTEMBER 2023 TO 30 AUGUST 2024

FOR

ALEXANDER ROSE LIMITED

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 15


ALEXANDER ROSE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024







DIRECTORS: H Olafsson
F Roda
AJ New





SECRETARY: F Roda





REGISTERED OFFICE: Alexander House
59 Victoria Road
Burgess Hill
West Sussex
RH15 9LE





REGISTERED NUMBER: 02892358 (England and Wales)





AUDITORS: Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

STRATEGIC REPORT
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

The directors present their strategic report for the period 1 September 2023 to 30 August 2024.

REVIEW OF BUSINESS
The statement of comprehensive income is set out on page 8 and shows a loss before tax of £1,219,569 (2023: £141,606 profit) for the period. Turnover for the year amounted to £6,035,976 (2023: £5,339,490).

During the year, the business went through significant changes and started with a period of restructuring and then transitioning to a period of relaunch. The initial transformation saw the appointment of a new Managing Director in August 2023 who joined to help stabilise the business after the challenges from post COVID trading, which had resulted in significant overstocking and rapidly rising costs.

The key decision was made to generate sales in the year through the selling of aged stock purchased during the COVID peak that had left the business overstocked, rather than initially investing in new products. This decision enabled the business to generate cash, although discounted sales significantly impacted margins and contributed to the financial loss seen for the year.

This strategy also gave time for the relationships with key product suppliers to be reset whilst establishing relationships with new suppliers and culminated in the launch of new products for the first time in 2 years in July 2024 at our annual trade show. The relaunch of the brand and new ranges were well received by existing and new customers.

Additionally, the business reviewed existing revenue streams and options to grow the business in new channels, this resulted in the launch of a fully transactional website in July 2024 that opened direct to consumer sale opportunities whilst continuing to nurture and grow the core wholesale channels of the business.

During the year, the business established new banking relationships whilst also securing new financing agreements, along with continued financial support from the owners, this helped put the business on the right financial platform to relaunch.

Finally, the business went through a full cost review and acted accordingly to ensure the business was in the best position to return to profitability in the next financial year after the previous years losses.

Key Performance Indicators
The company manages the business by reference to key performance indicators. Competent management reporting tools are in place to provide essential current, timely reporting in a clear and precise manner.

Principal indicators used by the company include, but are not limited to;
(1) Revenue recognised as per the financial statements
(2) Gross margin = gross profit/gross sales
(3) Wages sales percentage = staff costs/gross sales
(4) Level of backorders received, compared to historic data
(5) Value and composition of sales by range
(6) Margin by range of product

Future Developments
With a new Managing Director and leadership team in place along with new banking partners, new finance providers, continued support from the owners and additional revenue channels, Alexander Rose are confident that the future is positive.

PRINCIPAL RISKS AND UNCERTAINTIES
The management of the business and execution of the Company's strategy are subject to a number of risks. The principal risks and uncertainties affecting the Company are considered to relate to competition from both national and independent wholesalers and retailers, employee retention, product availability, shipping and freight rates and cost inflation.

Employee retention is a key focus of the company. Discussions with employees at all levels occurs frequently with formal reviews conducted annually. The company is investing in it's colleagues with enhancing benefits, the working environment and increased additional training opportunities.

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

STRATEGIC REPORT
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024


Cost inflation continues to be a risk, however the company operates a largely margin-based approach to price strategies, so is able to offset rising costs by reviewing and increasing prices proportionally to it's customers.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The company's operations expose it to a variety of financial risks that include the effects of price risk, liquidity risk and interest risk. The company has in place policies and procedures that seek to limit the potentially adverse effects on the financial performance of the company of such risks. These policies are set by the directors.

The company does not use derivative financial instruments to manage interest rate risks.

Price risk
Due to the market the company operates in, the company is exposed to price risk from its suppliers and competitors. However, given the size of the company's operations and in addition to the actions identified above, the company is able to manage the potential exposure through supplier agreements.

Credit risk
The majority of the company's sales are made on credit. Appropriate credit checks on customers who apply for credit accounts are made prior to the sale. The amount of any individual customer is subject to a limit and the exposure of the company as a whole is mitigated by multiple credit control procedures and the diverse nature of the customer base.

Liquidity risk
Liquidity risk is the risk that the company will encounter difficulty in meeting obligations associated with its financial liabilities. The risk is mitigated as the company has sufficient cash resources available to it through either its own funds or from its owner's financial support.

Foreign exchange risk
The company purchases in dollars and therefore is exposed to foreign currency risk. The company uses derivative financial instruments in the form of forward exchange contracts to mitigate these risks and ensure predictable future cash flows.

ON BEHALF OF THE BOARD:





F Roda - Director


28 August 2025

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

The directors present their report with the financial statements of the company for the period 1 September 2023 to 30 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of manufacturing and supplying garden furniture.

DIVIDENDS
No dividends will be distributed for the period ended 30 August 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

H Olafsson
F Roda

Other changes in directors holding office are as follows:

AJ New was appointed as a director after 30 August 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024


AUDITORS
The auditors, Watson Associates (Audit Services) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





F Roda - Director


28 August 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALEXANDER ROSE LIMITED

Opinion
We have audited the financial statements of Alexander Rose Limited (the 'company') for the period ended 30 August 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 August 2024 and of its loss for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALEXANDER ROSE LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to employment laws and indirect taxes, and we considered the extent to which non-compliance might have a material effect on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements(including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to achieve desired financial results and the manipulation of exceptional items and management bias in accounting estimates. Audit procedures performed by the engagement team included, but were not limited to:

- enquiries with management including consideration of known or suspected instances of fraud and non-compliance with laws and regulations and examining supporting calculations where a provision has been made in respect of these;
- reading key correspondence with regulatory authorities in relation to compliance with certain laws and indirect tax matters;
- understanding and evaluating the design and implementation of management's controls designed to prevent and detect irregularities;
- challenging assumptions and judgements made by management in their significant accounting estimates,
- identifying and testing journal entries in particular and journal entries posted with unusual account combinations and postings by unusual users;

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALEXANDER ROSE LIMITED


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr Stephen James Moore (Senior Statutory Auditor)
for and on behalf of Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

28 August 2025

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

Period Period
1.9.23 1.3.23
to to
30.8.24 31.8.23
Notes £    £   

TURNOVER 3 6,035,976 5,339,490

Cost of sales (4,327,027 ) (3,406,001 )
GROSS PROFIT 1,708,949 1,933,489

Distribution costs (779,810 ) (732,502 )
Administrative expenses (1,944,161 ) (966,980 )
OPERATING (LOSS)/PROFIT 5 (1,015,022 ) 234,007

Amounts written off investments 6 (25,834 ) -
(1,040,856 ) 234,007

Interest payable and similar expenses 7 (178,713 ) (92,401 )
(LOSS)/PROFIT BEFORE TAXATION (1,219,569 ) 141,606

Tax on (loss)/profit 8 308,174 (48,169 )
(LOSS)/PROFIT FOR THE FINANCIAL
PERIOD

(911,395

)

93,437

OTHER COMPREHENSIVE LOSS
Investment Impairment (249,669 ) (94,472 )
Income tax relating to other
comprehensive loss

-

-
OTHER COMPREHENSIVE LOSS FOR
THE PERIOD, NET OF INCOME TAX

(249,669

)

(94,472

)
TOTAL COMPREHENSIVE LOSS FOR
THE PERIOD

(1,161,064

)

(1,035

)

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

BALANCE SHEET
30 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 9 45,411 61,267
Investments 10 114,242 420,343
159,653 481,610

CURRENT ASSETS
Stocks 11 2,221,908 3,435,180
Debtors 12 2,359,483 2,086,097
Cash at bank and in hand 47,923 77,350
4,629,314 5,598,627
CREDITORS
Amounts falling due within one year 13 (4,024,251 ) (4,073,033 )
NET CURRENT ASSETS 605,063 1,525,594
TOTAL ASSETS LESS CURRENT
LIABILITIES

764,716

2,007,204

CREDITORS
Amounts falling due after more than one
year

14

(20,953

)

(102,377

)
NET ASSETS 743,763 1,904,827

CAPITAL AND RESERVES
Called up share capital 19 497,861 497,861
Share premium 20 138,139 138,139
Fair value reserve 20 - 249,669
Retained earnings 20 107,763 1,019,158
SHAREHOLDERS' FUNDS 743,763 1,904,827

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:





F Roda - Director


ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

Called up Fair
share Retained Share value Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 March 2023 497,861 925,721 138,139 344,141 1,905,862

Changes in equity
Total comprehensive loss - 93,437 - (94,472 ) (1,035 )
Balance at 31 August 2023 497,861 1,019,158 138,139 249,669 1,904,827

Changes in equity
Total comprehensive loss - (911,395 ) - (249,669 ) (1,161,064 )
Balance at 30 August 2024 497,861 107,763 138,139 - 743,763

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

CASH FLOW STATEMENT
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

Period Period
1.9.23 1.3.23
to to
30.8.24 31.8.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 880,285 1,122,416
Interest paid (176,206 ) (90,958 )
Interest element of finance lease
payments paid

(2,507

)

(1,443

)
Tax paid - (91,807 )
Taxation refund 159,359 -
Net cash from operating activities 860,931 938,208

Cash flows from investing activities
Purchase of tangible fixed assets (10,985 ) (2,074 )
Sale of tangible fixed assets - 6,498
Net cash from investing activities (10,985 ) 4,424

Cash flows from financing activities
Loan repayments in year (185,185 ) (55,555 )
Capital repayments in year (6,812 ) (3,208 )
Amount introduced by directors 613,102 1,469,959
Amount withdrawn by directors (436,754 ) (694,501 )
Net cash from financing activities (15,649 ) 716,695

Increase in cash and cash equivalents 834,297 1,659,327
Cash and cash equivalents at
beginning of period

2

(1,455,051

)

(3,114,378

)

Cash and cash equivalents at end of
period

2

(620,754

)

(1,455,051

)

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

Period Period
1.9.23 1.3.23
to to
30.8.24 31.8.23
£    £   
(Loss)/profit before taxation (1,219,569 ) 141,606
Depreciation charges 26,838 17,723
Profit on disposal of fixed assets - (4,225 )
Amounts w/off investments 25,834 -
Finance costs 178,713 92,401
(988,184 ) 247,505
Decrease in stocks 1,213,272 1,733,758
Decrease in trade and other debtors 23,507 1,317,003
Increase/(decrease) in trade and other creditors 631,690 (2,175,850 )
Cash generated from operations 880,285 1,122,416

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 30 August 2024
30.8.24 1.9.23
£    £   
Cash and cash equivalents 47,923 77,350
Bank overdrafts (668,677 ) (1,532,401 )
(620,754 ) (1,455,051 )
Period ended 31 August 2023
31.8.23 1.3.23
£    £   
Cash and cash equivalents 77,350 152,871
Bank overdrafts (1,532,401 ) (3,267,249 )
(1,455,051 ) (3,114,378 )


ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.9.23 Cash flow At 30.8.24
£    £    £   
Net cash
Cash at bank and in hand 77,350 (29,427 ) 47,923
Bank overdrafts (1,532,401 ) 863,724 (668,677 )
(1,455,051 ) 834,297 (620,754 )
Debt
Finance leases (35,097 ) 6,812 (28,285 )
Debts falling due within 1 year (111,111 ) 111,111 -
Debts falling due after 1 year (74,074 ) 74,074 -
(220,282 ) 191,997 (28,285 )
Total (1,675,333 ) 1,026,294 (649,039 )

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

1. STATUTORY INFORMATION

Alexander Rose Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - over term of lease
Fixtures and fittings - 33% on cost and 20% on cost
Motor vehicles - 20% on cost

Investments in associates
Interests in associates are initially measured at cost and subsequently measured at fair value, with changes in fair value recognised in other comprehensive income.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Derivative financial instruments
Derivative financial instruments are recognised at fair value, with any gains or losses being reported in profit or loss.

Going concern
The ultimate controlling party has confirmed that they will provide support to enable the company to fulfil its financial obligations as and when they fall due.

The directors have prepared cashflow forecasts and have assessed that the operating cashflows generated, together with the financial support outlined above is adequate to ensure that the company will meet its liabilities as and when they fall due for a period of at least twelve months from the date from which these accounts were approved. On this basis the directors are of the opinion that the financial statements should be drawn up on a going concern basis.

3. TURNOVER

The turnover and loss (2023 - profit) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

Period Period
1.9.23 1.3.23
to to
30.8.24 31.8.23
£    £   
Sale of Goods 6,035,976 5,339,490
6,035,976 5,339,490

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

3. TURNOVER - continued

An analysis of turnover by geographical market is given below:

Period Period
1.9.23 1.3.23
to to
30.8.24 31.8.23
£    £   
United Kingdom 5,665,990 4,425,021
Europe 334,891 853,994
United States of America 35,095 60,475
6,035,976 5,339,490

4. EMPLOYEES AND DIRECTORS
Period Period
1.9.23 1.3.23
to to
30.8.24 31.8.23
£    £   
Wages and salaries 901,646 414,163
Social security costs 79,380 40,991
Other pension costs 40,133 18,557
1,021,159 473,711

The average number of employees during the period was as follows:
Period Period
1.9.23 1.3.23
to to
30.8.24 31.8.23

General Management 1 1
Finance & Admin 5 5
Customer Services 6 6
Sales and Marketing 4 4
Warehouse 9 9
25 25

Period Period
1.9.23 1.3.23
to to
30.8.24 31.8.23
£    £   
Directors' remuneration - -

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

5. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

Period Period
1.9.23 1.3.23
to to
30.8.24 31.8.23
£    £   
Depreciation - owned assets 26,841 17,723
Profit on disposal of fixed assets - (4,225 )
Auditors' remuneration 46,500 12,846
Foreign exchange differences (104,427 ) (53,231 )

6. AMOUNTS WRITTEN OFF INVESTMENTS
Period Period
1.9.23 1.3.23
to to
30.8.24 31.8.23
£    £   
Amounts w/o invs 25,834 -

7. INTEREST PAYABLE AND SIMILAR EXPENSES
Period Period
1.9.23 1.3.23
to to
30.8.24 31.8.23
£    £   
Other Interest 71,018 919
Bank loan interest 105,188 90,039
Leasing 2,507 1,443
178,713 92,401

8. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the loss for the period was as follows:
Period Period
1.9.23 1.3.23
to to
30.8.24 31.8.23
£    £   
Current tax:
Interest on Corporation Tax (11,281 ) 13,345

Deferred tax (296,893 ) 34,824
Tax on (loss)/profit (308,174 ) 48,169

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

8. TAXATION - continued

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the period is lower than the standard rate of corporation tax in the UK. The difference is explained below:

Period Period
1.9.23 1.3.23
to to
30.8.24 31.8.23
£    £   
(Loss)/profit before tax (1,219,569 ) 141,606
(Loss)/profit multiplied by the standard rate of corporation tax in the
UK of 25% (2023 - 19%)

(304,892

)

26,905

Effects of:
Expenses not deductible for tax purposes 196 257
Depreciation in excess of capital allowances 3,776 2,894
Utilisation of tax losses - (29,253 )


Deferred Taxation (296,893 ) 34,824

Interest on Corporation Tax (11,281 ) 13,345
Losses c/fwd 300,920 -
Profit on disposal of assets - (803 )
Total tax (credit)/charge (308,174 ) 48,169

Tax effects relating to effects of other comprehensive income

1.9.23 to 30.8.24
Gross Tax Net
£    £    £   
Investment Impairment (249,669 ) - (249,669 )

1.3.23 to 31.8.23
Gross Tax Net
£    £    £   
Investment Impairment (94,472 ) - (94,472 )

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

9. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2023 186,343 370,207 149,508 706,058
Additions - 10,985 - 10,985
At 30 August 2024 186,343 381,192 149,508 717,043
DEPRECIATION
At 1 September 2023 184,509 323,858 136,424 644,791
Charge for period 1,834 16,283 8,724 26,841
At 30 August 2024 186,343 340,141 145,148 671,632
NET BOOK VALUE
At 30 August 2024 - 41,051 4,360 45,411
At 31 August 2023 1,834 46,349 13,084 61,267

10. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST OR VALUATION
At 1 September 2023 420,343
Revaluations (249,669 )
Impairments (56,432 )
At 30 August 2024 114,242
NET BOOK VALUE
At 30 August 2024 114,242
At 31 August 2023 420,343

Cost or valuation at 30 August 2024 is represented by:

Interest
in
associate
£   
Valuation in 2018 432,262
Valuation in 2023 (88,121 )
Valuation in 2023 (94,472 )
Valuation in 2024 (306,101 )
Cost 170,674
114,242

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

10. FIXED ASSET INVESTMENTS - continued

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 170,674 170,674

Fixed asset investments were valued on an open market basis on 31 August 2024 by the Directors .

11. STOCKS
2024 2023
£    £   
Finished goods 2,221,908 3,435,180

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,258,807 1,276,414
Other debtors 14,850 36,632
Deferred tax asset 903,510 606,617
Prepayments 182,316 166,434
2,359,483 2,086,097

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 668,677 1,643,512
Finance leases (see note 16) 7,332 6,794
Trade creditors 1,178,730 777,191
Tax - (148,078 )
Social security and other taxes 361,603 104,479
Other creditors 5,104 4,720
Directors' current accounts 1,646,307 1,469,959
Accruals and deferred income 156,498 214,456
4,024,251 4,073,033

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 15) - 74,074
Finance leases (see note 16) 20,953 28,303
20,953 102,377

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 668,677 1,532,401
Bank loans - 111,111
668,677 1,643,512

Amounts falling due between one and two years:
Bank loans - 1-2 years - 74,074

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 7,332 6,794
Between one and five years 20,953 28,303
28,285 35,097

Non-cancellable
operating leases
2024 2023
£    £   
Within one year 271,879 258,720
Between one and five years 1,042,900 1,012,000
In more than five years 1,981,833 2,234,833
3,296,612 3,505,553

17. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 668,677 1,532,401
Bank loans - 185,185
668,677 1,717,586

Debenture including fixed and floating charge over the undertaking and all of its assets, rights and property including its revenues, dated 30 April 2024.

ALEXANDER ROSE LIMITED (REGISTERED NUMBER: 02892358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2023 TO 30 AUGUST 2024

18. DEFERRED TAX
£   
Balance at 1 September 2023 (606,617 )
Credit to Statement of Comprehensive Income during period (296,893 )
Prior year correction
Losses c/fwd
Balance at 30 August 2024 (903,510 )

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
497,861 Ordinary 1 497,861 497,861

20. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 September 2023 1,019,158 138,139 249,669 1,406,966
Deficit for the period (911,395 ) (911,395 )
Investment in Associate - - (249,669 ) (249,669 )
At 30 August 2024 107,763 138,139 - 245,902

21. RELATED PARTY DISCLOSURES

During the period, purchases of £51,779 (2023 - £136,852) were made from Woven Furniture Designs Inc, an associate of Alexander Rose Ltd. At the balance sheet date, £24,479 (2023 - £1,999 due from) was owed to Woven Furniture Designs Inc.

During the year, purchases of £476,009 (2023 - £186,791) were made from IMR S.A. £626,564 (2023 - £372,416) was owed to IMR S.A at the balance sheet date. IMR S.A and Alexander Rose Ltd share a common ultimate controlling party, the Roda family.