Company Registration No. 10479032 (England and Wales)
ROSEMARY WATER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
ROSEMARY WATER LIMITED
COMPANY INFORMATION
Directors
David Spencer Percival
Jerome Bottari
(Appointed 8 November 2019)
Company number
10479032
Registered office
Ground Floor
6 Burnsall Street
London
SW3 3ST
Company secretary
BPE Solicitors LLP
St James House
Cheltenham
GL50 3PR
ROSEMARY WATER LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ROSEMARY WATER LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2019
31 December 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Intangible assets
3
37,633
40,166
Tangible assets
4
46,659
80,846
84,292
121,012
Current assets
Stocks
258,337
479,859
Debtors
5
2,078,607
1,521,120
Cash at bank and in hand
1,640,273
1,366,098
3,977,217
3,367,077
Creditors: amounts falling due within one year
6
(303,121)
(802,064)
Net current assets
3,674,096
2,565,013
Total assets less current liabilities
3,758,388
2,686,025
Creditors: amounts falling due after more than one year
7
(654,163)
(532,433)
Net assets
3,104,225
2,153,592
Capital and reserves
Called up share capital
8
189
166
Share premium account
11,112,226
7,300,031
Profit and loss reserves
(8,008,190)
(5,146,605)
Total equity
3,104,225
2,153,592
ROSEMARY WATER LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2019
31 December 2019
- 2 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 15 February 2021 and are signed on its behalf by:
David Spencer Percival
Director
Company Registration No. 10479032
ROSEMARY WATER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 3 -
1
Accounting policies
Company information
No1 Rosemary Water 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.
1.1
Accounting convention
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of 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.
The financial statements have been prepared on a going concern basis, assuming the company will continue to trade.
Despite generating trading losses, the company has been able to raise sufficient investment to fund trading losses whilst it tracks towards profitability.
1.2
Turnover
Turnover represents net invoiced sale of goods, excluding value added tax.
1.3
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment
33.3% straight line
Plant and equipment
33.3% straight line
Fixtures and fittings
33.3% straight line
1.4
Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance of obsolete and damaged items.
1.5
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current and 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 they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. During the period the company reflected a deferred tax asset based on a rate of
19%.
ROSEMARY WATER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 4 -
2
Employees
The number of employees as
of
31 December 201
9
was
12
.
3
Intangible fixed assets
Other intangible assets
£
Cost
At 1 January 2019
93,109
Additions
36,795
At 31 December 2019
129,904
Amortisation
At 1 January 2019
52,943
Amortisation charged for the year
39,328
At 31 December 2019
92,271
Net book value
At 31 December 2019
37,633
At 31 December 2018
40,166
4
Tangible fixed assets
Office equipment
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 January 2019
43,679
34,986
51,240
129,905
Additions
2,761
34,500
-
37,261
Disposals
(26,687)
(32,500)
(25)
(59,212)
At 31 December 2019
19,753
36,986
51,215
107,954
Depreciation and impairment
At 1 January 2019
15,221
8,254
25,584
49,059
Depreciation charged in the year
17,768
23,590
17,080
58,438
Eliminated in respect of disposals
(15,193)
(30,987)
(22)
(46,202)
At 31 December 2019
17,796
857
42,642
61,295
Carrying amount
At 31 December 2019
1,957
36,129
8,573
46,659
At 31 December 2018
28,458
26,732
25,656
80,846
ROSEMARY WATER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 5 -
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
48,737
144,589
Amounts owed by group undertakings
73,697
-
Other debtors
104,026
190,536
Prepayments
39,798
131,871
266,258
466,996
Deferred tax asset (note )
1,812,349
1,054,124
2,078,607
1,521,120
6
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
242,203
682,569
Taxation and social security
11,145
23,578
Other creditors
10,337
1,074
Accruals
39,436
94,843
303,121
802,064
7
Creditors: amounts falling due after more than one year
2019
2018
£
£
Other creditors
654,163
532,433
8
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
26,079,660 (2018: 2,382,439) Ordinary of 0.0001p each
26
24
91,000,000 (2018: 9,100,000) A class ordinary of 0.0001p each
91
91
72,360,378 (2018: 5,143,328) B class ordinary of 0.0001p each
72
51
189
166
ROSEMARY WATER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 6 -
9
Financial commitments, guarantees and contingent liabilities
The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £0. (201
8
: £0).