The Rosendale Freehold Limited 9485393 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of property investment and development. Digita Accounts Production Advanced 6.30.9574.0 true false true 9485393 2022-04-01 2023-03-31 9485393 2023-03-31 9485393 bus:OrdinaryShareClass1 2023-03-31 9485393 core:CurrentFinancialInstruments 2023-03-31 9485393 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 9485393 core:Non-currentFinancialInstruments 2023-03-31 9485393 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 9485393 bus:SmallEntities 2022-04-01 2023-03-31 9485393 bus:Audited 2022-04-01 2023-03-31 9485393 bus:FullAccounts 2022-04-01 2023-03-31 9485393 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 9485393 bus:RegisteredOffice 2022-04-01 2023-03-31 9485393 bus:Director1 2022-04-01 2023-03-31 9485393 bus:Director2 2022-04-01 2023-03-31 9485393 bus:Director3 2022-04-01 2023-03-31 9485393 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 9485393 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 9485393 1 2022-04-01 2023-03-31 9485393 countries:EnglandWales 2022-04-01 2023-03-31 9485393 2022-03-31 9485393 2021-04-01 2022-03-31 9485393 2022-03-31 9485393 bus:OrdinaryShareClass1 2022-03-31 9485393 core:CurrentFinancialInstruments 2022-03-31 9485393 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 9485393 core:Non-currentFinancialInstruments 2022-03-31 9485393 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 9485393

The Rosendale Freehold Limited

Filleted Financial Statements

for the Year Ended 31 March 2023

 

The Rosendale Freehold Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

The Rosendale Freehold Limited

Company Information

Directors

NM Fox

M E L Reynolds

T Peake

Registered office

65 Rosendale Road
London
SE21 8EX

Auditors

Carbon Accountancy Limited
Chartered Accountants and Registered Auditors
80-83 Long Lane
London
EC1A 9ET

 

The Rosendale Freehold Limited

(Registration number: 9485393)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

4,400,000

4,400,000

Current assets

 

Debtors

5

255,795

255,795

Cash at bank and in hand

 

14,597

21,157

 

270,392

276,952

Creditors: Amounts falling due within one year

6

(1,089,879)

(1,044,761)

Net current liabilities

 

(819,487)

(767,809)

Total assets less current liabilities

 

3,580,513

3,632,191

Creditors: Amounts falling due after more than one year

6

(1,692,661)

(1,748,248)

Provisions for liabilities

(436,274)

(436,274)

Net assets

 

1,451,578

1,447,669

Capital and reserves

 

Called up share capital

7

1

1

Other reserves

1,308,820

1,308,820

Retained earnings

142,757

138,848

Shareholders' funds

 

1,451,578

1,447,669

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.

Approved and authorised by the Board on 28 November 2023 and signed on its behalf by:
 

.........................................
NM Fox
Director

 

The Rosendale Freehold Limited

Notes to the Financial Statements for the Year Ended 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:
65 Rosendale Road
London
SE21 8EX

These financial statements were authorised for issue by the Board on 28 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.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 28 November 2023 was John Leyden FCA, who signed for and on behalf of Carbon Accountancy Limited.

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

Revenue recognition

Turnover represents the value of rental income earned in the year. The rental income arises from investment property owned by the company, which is situated in the UK.

Tax

The tax expense for the period comprises current 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 Rosendale Freehold Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

The Rosendale Freehold Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Investment properties

2023
£

At 1 April

4,400,000

At 31 March

4,400,000

The valuation was done in May 2022 by Fleurets Limited, a firm of Estate Agents and Chartered Surveyors.

5

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings

10

255,705

255,705

Other debtors

 

90

90

 

255,795

255,795

 

The Rosendale Freehold Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

85,851

116,116

Trade creditors

 

4

4

Amounts owed to group undertakings

10

1,001,007

919,152

Taxation and social security

 

917

7,389

Accruals and deferred income

 

2,100

2,100

 

1,089,879

1,044,761

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

1,692,661

1,748,248

The loan is from HSBC Bank Plc, which has fixed charge over the freehold property and floating charge over all other assets.

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

1,692,661

1,748,248

 

The Rosendale Freehold Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

85,851

116,116

9

Financial commitments, guarantees and contingencies

HSBC Bank plc has the right to set-off bank balances of The Rosendale Freehold Limited against other group companies bank debts.
The Company has provided intercompany guarantees to HSBC Bank plc in respect of all debts due.

10

Related party transactions

The Company has taken advantage of the exemption contained in FRS 102 Para 33.1A and has not reported transactions with Three Cheers Pub Company Limited nor with other wholly owned members of the group.

11

Parent and ultimate parent undertaking

The company's immediate parent is Three Cheers Pub Company Limited, incorporated in England and Wales.