0 false false false false false false false false false true false false true false true true No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04342560 2022-06-01 2023-05-31 04342560 2023-05-31 04342560 2022-05-31 04342560 2022-05-31 04342560 core:FurnitureFittings 2022-06-01 2023-05-31 04342560 bus:Director1 2022-06-01 2023-05-31 04342560 core:LandBuildings 2022-05-31 04342560 core:FurnitureFittings 2022-05-31 04342560 core:LandBuildings 2023-05-31 04342560 core:FurnitureFittings 2023-05-31 04342560 core:WithinOneYear 2023-05-31 04342560 core:WithinOneYear 2022-05-31 04342560 core:AfterOneYear 2023-05-31 04342560 core:AfterOneYear 2022-05-31 04342560 core:ShareCapital 2023-05-31 04342560 core:ShareCapital 2022-05-31 04342560 core:RetainedEarningsAccumulatedLosses 2023-05-31 04342560 core:RetainedEarningsAccumulatedLosses 2022-05-31 04342560 core:CostValuation core:Non-currentFinancialInstruments 2023-05-31 04342560 core:Non-currentFinancialInstruments 2023-05-31 04342560 core:Non-currentFinancialInstruments 2022-05-31 04342560 core:LandBuildings 2022-05-31 04342560 core:FurnitureFittings 2022-05-31 04342560 bus:SmallEntities 2022-06-01 2023-05-31 04342560 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 04342560 bus:FullAccounts 2022-06-01 2023-05-31 04342560 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 04342560 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 04342560 core:ComputerEquipment 2022-06-01 2023-05-31 04342560 core:ComputerEquipment 2022-05-31 04342560 core:ComputerEquipment 2023-05-31
COMPANY REGISTRATION NUMBER: 04342560
English Rose Estates Limited
Filleted Unaudited Financial Statements
31 May 2023
English Rose Estates Limited
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
3,199,933
3,198,924
Investments
5
30
30
------------
------------
3,199,963
3,198,954
Current assets
Debtors
6
5,066,421
4,714,115
Cash at bank and in hand
41,160
5,341
------------
------------
5,107,581
4,719,456
Creditors: amounts falling due within one year
7
4,625,671
4,534,970
------------
------------
Net current assets
481,910
184,486
------------
------------
Total assets less current liabilities
3,681,873
3,383,440
Creditors: amounts falling due after more than one year
8
6,454,396
6,205,750
------------
------------
Net liabilities
( 2,772,523)
( 2,822,310)
------------
------------
Capital and reserves
Called up share capital
3
3
Profit and loss account
( 2,772,526)
( 2,822,313)
------------
------------
Shareholder deficit
( 2,772,523)
( 2,822,310)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
English Rose Estates Limited
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 19 February 2024 , and are signed on behalf of the board by:
Mr B Fugler
Director
Company registration number: 04342560
English Rose Estates Limited
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 70 Charlotte Street, London, W1T 4QG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 June 2022
3,195,807
62,475
4,631
3,262,913
Additions
2,457
2,457
------------
--------
-------
------------
At 31 May 2023
3,195,807
64,932
4,631
3,265,370
------------
--------
-------
------------
Depreciation
At 1 June 2022
59,358
4,631
63,989
Charge for the year
1,448
1,448
------------
--------
-------
------------
At 31 May 2023
60,806
4,631
65,437
------------
--------
-------
------------
Carrying amount
At 31 May 2023
3,195,807
4,126
3,199,933
------------
--------
-------
------------
At 31 May 2022
3,195,807
3,117
3,198,924
------------
--------
-------
------------
5. Investments
Shares in group undertakings
Shares in participating interests
Total
£
£
£
Cost
At 1 June 2022 and 31 May 2023
20
10
30
----
----
----
Impairment
At 1 June 2022 and 31 May 2023
----
----
----
Carrying amount
At 31 May 2023
20
10
30
----
----
----
At 31 May 2022
20
10
30
----
----
----
6. Debtors
2023
2022
£
£
Trade debtors
44,308
33,471
Amounts owed by group undertakings and undertakings in which the company has a participating interest
4,777,157
4,619,698
Other debtors
244,956
60,946
------------
------------
5,066,421
4,714,115
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
104,067
88,079
Amounts owed to group undertakings and undertakings in which the company has a participating interest
4,334,418
4,334,418
Other creditors
187,186
112,473
------------
------------
4,625,671
4,534,970
------------
------------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
6,454,396
6,205,750
------------
------------