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REGISTERED NUMBER: 04320261 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2023

FOR

ROUNDHURST HOLDINGS LIMITED

ROUNDHURST HOLDINGS LIMITED (REGISTERED NUMBER: 04320261)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROUNDHURST HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTOR: J G Steele





SECRETARY: Ms A J Karn





REGISTERED OFFICE: Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: 04320261 (England and Wales)





ACCOUNTANTS: Parkers
178-180 Church Road
Hove, East Sussex
BN3 2DJ

ROUNDHURST HOLDINGS LIMITED (REGISTERED NUMBER: 04320261)

BALANCE SHEET
28TH FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 18,000 18,000
Tangible assets 5 3,350,333 3,361,968
Investments 6 2,711,013 2,569,566
Investment property 7 2,095,008 1,160,008
8,174,354 7,109,542

CURRENT ASSETS
Debtors 8 7,692,385 7,653,715
Cash at bank and in hand 2,307 135,116
7,694,692 7,788,831
CREDITORS
Amounts falling due within one year 9 5,080,607 3,997,813
NET CURRENT ASSETS 2,614,085 3,791,018
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,788,439

10,900,560

CAPITAL AND RESERVES
Called up share capital 10 11,072,254 11,072,254
Retained earnings (283,815 ) (171,694 )
SHAREHOLDERS' FUNDS 10,788,439 10,900,560

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ROUNDHURST HOLDINGS LIMITED (REGISTERED NUMBER: 04320261)

BALANCE SHEET - continued
28TH FEBRUARY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8th November 2023 and were signed by:





J G Steele - Director


ROUNDHURST HOLDINGS LIMITED (REGISTERED NUMBER: 04320261)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023

1. STATUTORY INFORMATION

Roundhurst Holdings Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

Turnover
Turnover comprises the company's property rental and agricultural land income received during the year.

Intangible assets
The agricultural entitlements have been recorded at cost and will be amortised over their estimated economic life against the income receivable in future years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance

Investments in associates
The investment in Hilight Semiconductor Limited has been stated at cost as it is expected that this investment will be sold at a profit.

Investment property
The residential investment property acquired as part of Roundhurst Farm in December 2018 has been stated at cost.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


ROUNDHURST HOLDINGS LIMITED (REGISTERED NUMBER: 04320261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or 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 year 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 that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Agricultural
entitlements
£   
COST
At 1st March 2022
and 28th February 2023 18,000
NET BOOK VALUE
At 28th February 2023 18,000
At 28th February 2022 18,000

ROUNDHURST HOLDINGS LIMITED (REGISTERED NUMBER: 04320261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1st March 2022
and 28th February 2023 3,346,667 103,643 3,450,310
DEPRECIATION
At 1st March 2022 15,502 72,840 88,342
Charge for year 3,935 7,700 11,635
At 28th February 2023 19,437 80,540 99,977
NET BOOK VALUE
At 28th February 2023 3,327,230 23,103 3,350,333
At 28th February 2022 3,331,165 30,803 3,361,968

Included in cost of land and buildings is freehold land of £ 2,794,698 (2022 - £ 2,794,698 ) which is not depreciated.

6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1st March 2022 2,569,566
Additions 141,447
At 28th February 2023 2,711,013
NET BOOK VALUE
At 28th February 2023 2,711,013
At 28th February 2022 2,569,566

On 25th May 2021 the Company converted part of a loan into 1,541,098 Series D Convertible Preferred Shares at a price of £1.147 per share.

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st March 2022 1,160,008
Additions 935,000
At 28th February 2023 2,095,008
NET BOOK VALUE
At 28th February 2023 2,095,008
At 28th February 2022 1,160,008

ROUNDHURST HOLDINGS LIMITED (REGISTERED NUMBER: 04320261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

7. INVESTMENT PROPERTY - continued

The residential investment property purchased in December 2018 on Lower Roundhurst Farm has not changed in value in since its purchase.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,947 -
Amounts owed by associates 5,912,387 7,560,560
Other debtors 1,776,051 93,155
7,692,385 7,653,715

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,692 2,626
Taxation and social security 137 133
Other creditors 5,077,778 3,995,054
5,080,607 3,997,813

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
11,072,254 Ordinary £1 11,072,254 11,072,254