Caseware UK (AP4) 2022.0.179 2022.0.179 2022-01-01true2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsefalseproperty rental management 13767206 2021-12-31 13767206 2022-01-01 2022-11-30 13767206 2020-12-01 2021-12-31 13767206 2022-11-30 13767206 c:Director1 2022-01-01 2022-11-30 13767206 d:FurnitureFittings 2022-01-01 2022-11-30 13767206 d:FurnitureFittings 2022-11-30 13767206 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-11-30 13767206 d:FreeholdInvestmentProperty 2022-01-01 2022-11-30 13767206 d:FreeholdInvestmentProperty 2022-11-30 13767206 d:CurrentFinancialInstruments 2022-11-30 13767206 d:Non-currentFinancialInstruments 2022-11-30 13767206 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 13767206 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 13767206 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-11-30 13767206 d:ShareCapital 2022-11-30 13767206 d:RetainedEarningsAccumulatedLosses 2022-11-30 13767206 c:FRS102 2022-01-01 2022-11-30 13767206 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-11-30 13767206 c:FullAccounts 2022-01-01 2022-11-30 13767206 c:PrivateLimitedCompanyLtd 2022-01-01 2022-11-30 iso4217:GBP xbrli:pure
Registered number: 13767206





 
Roost Residential Limited          
 
Financial statements          

For the Period Ended 30 November 2022          

 
Roost Residential Limited
Registered number:13767206

Balance Sheet
As at 30 November 2022


2022 
                                                                                                                                        Note
£
£

Fixed assets
  

Tangible assets
 4 
1,400

Investment property
 5 
72,286

  
73,686

Current assets
  

Debtors
 6 
160

Cash at bank and in hand
 7 
2,191

  
2,351

Creditors: amounts falling due within one year
 8 
(30,568)

Net current liabilities
  
 
 
(28,217)

Total assets less current liabilities
  
45,469

Creditors: amounts falling due after more than one year
 9 
(51,000)

  

Net liabilities
  
(5,531)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(5,631)

  
(5,531)


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.


 

Page 1

 
Roost Residential Limited
Registered number:13767206
    
Balance Sheet (continued)
As at 30 November 2022

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 22 November 2023.







J Brett
Director






















The notes on pages 3 to 6 form part of these financial statements.
Page 2

 
Roost Residential Limited
 
 
Notes to the Financial Statements
For the Period Ended 30 November 2022

1.


General information

Roost Residential Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, United Kingdom, SS11 7HQ.
The company was incorporated on 26 November 2021 and commenced to trade on 1 January 2022. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 3

 
Roost Residential Limited
 
 
Notes to the Financial Statements
For the Period Ended 30 November 2022

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided at the following rate:

Fixtures and fittings
-
20%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value as determined annually by the directors, having regard to professional advice taken personally, and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.

Page 4

 
Roost Residential Limited
 
 
Notes to the Financial Statements
For the Period Ended 30 November 2022

4.


Tangible fixed assets





Fixtures and fittings

£



Cost 


Additions
1,750



At 30 November 2022

1,750



Depreciation


Charge for the period
350



At 30 November 2022

350



Net book value



At 30 November 2022
1,400


5.


Investment property


Freehold investment property

£



Cost and Valuation 


Additions at cost
72,286



At 30 November 2022
72,286

The investment property is held at cost in the financial statements. In the opinion of the directors, having regard to professional advice taken personally, this also represents best estimate of the valuation of the property, on an open market value for existing use basis.





6.


Debtors

2022
£


Prepayments and accrued income
160


Page 5

 
Roost Residential Limited
 
 
Notes to the Financial Statements
For the Period Ended 30 November 2022

7.


Cash and cash equivalents

2022
£

Cash at bank and in hand
2,191



8.


Creditors: Amounts falling due within one year

2022
£

Directors' loan account
29,008

Accruals and deferred income
1,560

30,568



9.


Creditors: Amounts falling due after more than one year

2022
£

Bank loans
51,000


The bank loan is secured against the investment property owned by the company. The loan is interest only and interest is payable at a rate of 3.39%.


10.


Loans


Analysis of the maturity of loans is given below:


2022
£




Amounts falling due after more than 5 years

Bank loans
51,000


 
Page 6