Caseware UK (AP4) 2021.0.152 2021.0.152 2022-05-312022-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-06-01falsehi22falsetrue 12629952 2021-06-01 2022-05-31 12629952 2020-06-01 2021-05-31 12629952 2022-05-31 12629952 2021-05-31 12629952 c:Director1 2021-06-01 2022-05-31 12629952 c:Director2 2021-06-01 2022-05-31 12629952 d:FreeholdInvestmentProperty 2022-05-31 12629952 d:FreeholdInvestmentProperty 2021-05-31 12629952 d:CurrentFinancialInstruments 2022-05-31 12629952 d:CurrentFinancialInstruments 2021-05-31 12629952 d:Non-currentFinancialInstruments 2022-05-31 12629952 d:Non-currentFinancialInstruments 2021-05-31 12629952 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 12629952 d:CurrentFinancialInstruments d:WithinOneYear 2021-05-31 12629952 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 12629952 d:Non-currentFinancialInstruments d:AfterOneYear 2021-05-31 12629952 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-05-31 12629952 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-05-31 12629952 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-05-31 12629952 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-05-31 12629952 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-05-31 12629952 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-05-31 12629952 d:ShareCapital 2022-05-31 12629952 d:ShareCapital 2021-05-31 12629952 d:RetainedEarningsAccumulatedLosses 2022-05-31 12629952 d:RetainedEarningsAccumulatedLosses 2021-05-31 12629952 c:FRS102 2021-06-01 2022-05-31 12629952 c:AuditExempt-NoAccountantsReport 2021-06-01 2022-05-31 12629952 c:FullAccounts 2021-06-01 2022-05-31 12629952 c:PrivateLimitedCompanyLtd 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure

Registered number: 12629952










ROSE RENTALS (2020) LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2022

 
ROSE RENTALS (2020) LTD
REGISTERED NUMBER:12629952

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2022

2022
2021
Note
£
£

Fixed assets
  

Investment property
 4 
317,235
317,235

  
317,235
317,235

Current assets
  

Debtors: amounts falling due within one year
 5 
-
2,023

Cash at bank and in hand
 6 
1,475
188

  
1,475
2,211

Creditors: amounts falling due within one year
 7 
(178,225)
(176,602)

Net current liabilities
  
 
 
(176,750)
 
 
(174,391)

Total assets less current liabilities
  
140,485
142,844

Creditors: amounts falling due after more than one year
 8 
(138,828)
(148,281)

  

Net assets/(liabilities)
  
1,657
(5,437)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,557
(5,537)

  
1,657
(5,437)


Page 1

 
ROSE RENTALS (2020) LTD
REGISTERED NUMBER:12629952
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mrs Rebecca Rose
................................................
Mr Carl Rose
Director
Director


Date: 4 September 2022

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ROSE RENTALS (2020) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

1.


General information

Rose Rentals (2020) Ltd is a private company limited by shares and incorporated in England and Wales, registration number 12629952. The registered office is Summerhill House, 1 Sculthorpe Road, Fakenham, Norfolk, NR21 9HA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ROSE RENTALS (2020) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
ROSE RENTALS (2020) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2022
        2021
            No.
            No.







Directors
2
2


4.


Investment property


Freehold investment property

£



Valuation


At 1 June 2021
317,235



At 31 May 2022
317,235

The 2022 valuations were made by C & Mrs R P M Rose, on an open market value for existing use basis.




Page 5

 
ROSE RENTALS (2020) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

5.


Debtors

2022
2021
£
£


Prepayments and accrued income
-
724

Deferred taxation
-
1,299

-
2,023



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
1,475
188

1,475
188



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
8,400
1,996

Other loans
19,030
19,030

Corporation tax
365
-

Other creditors
149,398
154,376

Accruals and deferred income
1,032
1,200

178,225
176,602


The following liabilities were secured:

2022
2021
£
£



Bank loans
8,400
1,996

8,400
1,996

Details of security provided:

The bank loan is secured against the asset which it was used to purchase.

Page 6

 
ROSE RENTALS (2020) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
138,828
148,281

138,828
148,281


The following liabilities were secured:

2022
2021
£
£



Bank Loans
138,828
148,281

138,828
148,281

Details of security provided:

The bank loan is secured against the asset which it was used to purchase.

Page 7

 
ROSE RENTALS (2020) LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
8,400
1,996

Other loans
19,030
19,030


27,430
21,026

Amounts falling due 1-2 years

Bank loans
8,400
1,996


8,400
1,996

Amounts falling due 2-5 years

Bank loans
25,200
5,989


25,200
5,989

Amounts falling due after more than 5 years

Bank loans
105,228
140,296

105,228
140,296

166,258
169,307



10.


Related party transactions

At the year end the directors were owed £149,397 (£154,374 in 2021), this loan is interest free and there are no fixed repayment terms in place.

 
Page 8