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Registration number: 13889053

Roscoe Property Investments Ltd

Unaudited Filleted Financial Statements

for the Period from 2 February 2022 to 28 February 2023

 

Roscoe Property Investments Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Roscoe Property Investments Ltd

Company Information

Directors

Mrs J Lord-Winnard

Mr SE Lord-Winnard

Registered office

10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

Accountants

Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Roscoe Property Investments Ltd
for the Period Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Roscoe Property Investments Ltd for the period ended 28 February 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Roscoe Property Investments Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Roscoe Property Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Roscoe Property Investments Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Roscoe Property Investments Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Roscoe Property Investments Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Roscoe Property Investments Ltd. You consider that Roscoe Property Investments Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Roscoe Property Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................


Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

1 November 2023

 

Roscoe Property Investments Ltd

(Registration number: 13889053)
Balance Sheet as at 28 February 2023

Note

2023
£

Fixed assets

 

Investment property

4

110,000

Current assets

 

Cash at bank and in hand

 

639

Creditors: Amounts falling due within one year

5

(35,292)

Net current liabilities

 

(34,653)

Total assets less current liabilities

 

75,347

Creditors: Amounts falling due after more than one year

5

(69,244)

Provisions for liabilities

(981)

Net assets

 

5,122

Capital and reserves

 

Called up share capital

100

Retained earnings

838

Non-distributable reserve

 

4,184

Shareholders' funds

 

5,122

For the financial period ending 28 February 2023 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 period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Roscoe Property Investments Ltd

(Registration number: 13889053)
Balance Sheet as at 28 February 2023

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

.........................................
Mrs J Lord-Winnard
Director

 

Roscoe Property Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 2 February 2022 to 28 February 2023

1

General information

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

The address of its registered office is:
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

These financial statements were authorised for issue by the Board on 1 November 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 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 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rental income from investment property. 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 and deferred 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.

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.

 

Roscoe Property Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 2 February 2022 to 28 February 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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.

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.

 

Roscoe Property Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 2 February 2022 to 28 February 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Investment properties

2023
£

Additions

104,835

Fair value adjustments

5,165

At 28 February

110,000

Mrs J Lord-Winnard, an experienced estate agent, has reviewed the market valuation of the investment property and believes it to be in line with market values as of 28 February 2023.

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

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

6

4,009

Taxation and social security

 

196

Accruals and deferred income

 

750

Other creditors

 

30,337

 

35,292

Creditors include a bank loan which is secured against the investment property it was used to finance.

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

6

69,244

 

Roscoe Property Investments Ltd

Notes to the Unaudited Financial Statements for the Period from 2 February 2022 to 28 February 2023

6

Loans and borrowings

2023
£

Non-current loans and borrowings

Bank borrowings

69,244

2023
£

Current loans and borrowings

Bank borrowings

4,009