Roddy New Homes SPV2 Limited 13915219 false 2022-02-14 2023-03-31 2023-03-31 The principal activity of the company is development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true true false 13915219 2022-02-14 2023-03-31 13915219 2023-03-31 13915219 core:RetainedEarningsAccumulatedLosses 2023-03-31 13915219 core:ShareCapital 2023-03-31 13915219 core:CurrentFinancialInstruments 2023-03-31 13915219 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13915219 bus:SmallEntities 2022-02-14 2023-03-31 13915219 bus:AuditExemptWithAccountantsReport 2022-02-14 2023-03-31 13915219 bus:FullAccounts 2022-02-14 2023-03-31 13915219 bus:SmallCompaniesRegimeForAccounts 2022-02-14 2023-03-31 13915219 bus:RegisteredOffice 2022-02-14 2023-03-31 13915219 bus:Director2 2022-02-14 2023-03-31 13915219 bus:PrivateLimitedCompanyLtd 2022-02-14 2023-03-31 13915219 1 2022-02-14 2023-03-31 13915219 countries:EnglandWales 2022-02-14 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 13915219

Roddy New Homes SPV2 Limited

Unaudited Financial Statements

for the Period from 14 February 2022 to 31 March 2023

 

Roddy New Homes SPV2 Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Roddy New Homes SPV2 Limited

(Registration number: 13915219)
Balance Sheet as at 31 March 2023

Note

2023
£

Current assets

 

Stocks

4

10,213,026

Debtors

5

32,031

 

10,245,057

Creditors: Amounts falling due within one year

6

(10,247,709)

Net liabilities

 

(2,652)

Capital and reserves

 

Called up share capital

1

Profit and loss account

(2,653)

Shareholders' deficit

 

(2,652)

For the financial period ending 31 March 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 and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the Board on 8 November 2023 and signed on its behalf by:
 

.........................................
Ms JE Ismail
Director

 

Roddy New Homes SPV2 Limited

Notes to the Unaudited Financial Statements for the Period from 14 February 2022 to 31 March 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:
Unit 3 Birchwood One Business Park Dewhurst Road
Birchwood
Warrington
WA3 7GB
England

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by its parent companies. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

 

Roddy New Homes SPV2 Limited

Notes to the Unaudited Financial Statements for the Period from 14 February 2022 to 31 March 2023

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

4

Stocks

2023
£

Work in progress

10,213,026

5

Debtors

2023
£

Other debtors

32,031

32,031

 

Roddy New Homes SPV2 Limited

Notes to the Unaudited Financial Statements for the Period from 14 February 2022 to 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

 

Amounts owed to group undertakings

9,381,134

Accruals and deferred income

 

866,575

 

10,247,709

Included within Owed to group undertakings is £9,381,134 in relation to a loan which is secured by fixed and floating charge 25 November 2022 over all the property or undertaking of the company and the property at former Smiths Medical, Boundary Road, CT21 6SL.

7

Parent and ultimate parent undertaking

The immediate parent company is Roddy New Homes Limited. The share capital of Roddy New Homes Limited is owned equally by Salboy Partnerships Limited and Redrock Hudson Limited. There is no ultimate controlling party.

Salboy Partnerships Limited is a company incorporated in England and Wales, company number 13626842, registered office 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, WA3 7PQ.

Redrock Hudson Limited is a company incorporated in England and Wales, company number 13785389, registered office 27 Gloucester Street, London, WC1N 3AX.