Company Registration No. 07921299 (England and Wales)
ROSCO HOUSE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
ROSCO HOUSE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ROSCO HOUSE LTD
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
175,885
180,072
Current assets
Debtors
4
16
-
0
Cash at bank and in hand
6,640
9,443
6,656
9,443
Creditors: amounts falling due within one year
5
(97,808)
(99,262)
Net current liabilities
(91,152)
(89,819)
Total assets less current liabilities
84,733
90,253
Creditors: amounts falling due after more than one year
6
(95,320)
(94,856)
Net liabilities
(10,587)
(4,603)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(10,589)
(4,605)
Total equity
(10,587)
(4,603)

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 30 June 2023 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.

The 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 and signed by the director and authorised for issue on 16 October 2023
C Richman
R Lee
Director
Director
ROSCO HOUSE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover

Turnover represents amounts receivable for the rental of investment properties.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Investment property
2% straight line basis
Fixtures, fittings & equipment
3 years straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.7
Company information

Rosco House Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Capital House, 272 Manchester Road, Droylsden, Manchester, M43 6PW.

ROSCO HOUSE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Investment property
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 July 2022 and 30 June 2023
209,387
1,808
211,195
Depreciation and impairment
At 1 July 2022
29,315
1,808
31,123
Depreciation charged in the year
4,187
-
0
4,187
At 30 June 2023
33,502
1,808
35,310
Carrying amount
At 30 June 2023
175,885
-
0
175,885
At 30 June 2022
180,072
-
0
180,072

The open market valuation of the property, in the opinion of the directors, was £340,000.

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
16
-
0
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
-
0
1,501
Other creditors
97,808
97,761
97,808
99,262
ROSCO HOUSE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
95,320
94,856

Other creditors due over one year consists of a mortgage held by Yorkshire Building Society t/a Norwich & Peterborough Building Society which is secured by a legal charge on the assets concerned.

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