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Registration number: 09284836

Rose Engineering (South West) Ltd

Unaudited Abridged Financial Statements

for the Year Ended 31 December 2022

Pages for Filing with Registrar

 

Rose Engineering (South West) Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Rose Engineering (South West) Ltd

Company Information

Directors

Mrs Susan Emily Rose

Mr Thomas Edward Rose

Mr Mervyn Douglas Rose

Company secretary

Mrs Susan Emily Rose

Registered office

Chapel Lane
Bagber
Sturminster Newton
Dorset
DT10 2HB

Accountants

Winsor Associates
20 Vespasian Way
Dorchester
Dorset
DT1 2RD

 

Rose Engineering (South West) Ltd

(Registration number: 09284836)
Abridged Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

40,148

8,728

Investment property

2,269,832

2,089,059

Investments

5

5,100

5,100

 

2,315,080

2,102,887

Current assets

 

Debtors

17,783

150,334

Cash at bank and in hand

 

1,258,226

423,150

 

1,276,009

573,484

Creditors: Amounts falling due within one year

(77,339)

(927,638)

Net current assets/(liabilities)

 

1,198,670

(354,154)

Total assets less current liabilities

 

3,513,750

1,748,733

Provisions for liabilities

(4,827)

(4,827)

Accruals and deferred income

 

(7,950)

(1,000)

Net assets

 

3,500,973

1,742,906

Capital and reserves

 

Called up share capital

6

102

102

Retained earnings

3,500,871

1,742,804

Shareholders' funds

 

3,500,973

1,742,906

 

Rose Engineering (South West) Ltd

(Registration number: 09284836)
Abridged Balance Sheet as at 31 December 2022

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 22 September 2023 and signed on its behalf by:
 

.........................................
Mrs Susan Emily Rose
Company secretary and director

.........................................
Mr Thomas Edward Rose
Director

.........................................
Mr Mervyn Douglas Rose
Director

 

Rose Engineering (South West) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Chapel Lane
Bagber
Sturminster Newton
Dorset
DT10 2HB

These financial statements were authorised for issue by the Board on 22 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Rose Engineering (South West) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Commercial motor vehicles

15% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Rose Engineering (South West) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Rose Engineering (South West) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2021 - 3).

4

Tangible assets

Total
£

Cost or valuation

At 1 January 2022

16,462

Additions

38,253

At 31 December 2022

54,715

Depreciation

At 1 January 2022

7,734

Charge for the year

6,833

At 31 December 2022

14,567

Carrying amount

At 31 December 2022

40,148

At 31 December 2021

8,728

Investment properties

2022
£

At 1 January

2,089,059

Additions

503,017

Disposals

(322,244)

At 31 December

2,269,832

There has been no valuation of investment property by an independent valuer.

 

Rose Engineering (South West) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

5

Investments

Total
£

Cost or valuation

At 1 January 2022

5,100

Provision

Carrying amount

At 31 December 2022

5,100

At 31 December 2021

5,100

2022
£

2021
£

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2022

2021

Subsidiary undertakings

Mervyn Rose Engineering Limited

Chapel Lane, Bagber,
Sturminster Newton
Dorset DT10 2HB

England

Ordinary

59%

59%

Subsidiary undertakings

Mervyn Rose Engineering Limited

The principal activity of Mervyn Rose Engineering Limited is General construction and engineering.

 

Rose Engineering (South West) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

6

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary share of £1 each

102

102

102

102