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Company No: 10398467 (England and Wales)

ROUNDHAM INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

ROUNDHAM INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

ROUNDHAM INVESTMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2023
ROUNDHAM INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2023
DIRECTORS Mr M S Salmon
Mrs S Salmon
REGISTERED OFFICE Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
BUSINESS ADDRESS Valley House
Valley Road
Plympton
Plymouth
PL7 1RF
COMPANY NUMBER 10398467 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
ROUNDHAM INVESTMENTS LIMITED

BALANCE SHEET

As at 30 June 2023
ROUNDHAM INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,439,686 1,215,000
1,439,686 1,215,000
Current assets
Debtors 4 1,533 1,100
Cash at bank and in hand 60,184 241,874
61,717 242,974
Creditors: amounts falling due within one year 5 ( 975,081) ( 968,424)
Net current liabilities (913,364) (725,450)
Total assets less current liabilities 526,322 489,550
Creditors: amounts falling due after more than one year 6 ( 263,434) ( 263,434)
Provision for liabilities ( 31,194) ( 31,194)
Net assets 231,694 194,922
Capital and reserves
Called-up share capital 7 60 60
Profit and loss account 8 231,634 194,862
Total shareholder's funds 231,694 194,922

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Roundham Investments Limited (registered number: 10398467) were approved and authorised for issue by the Board of Directors on 07 March 2024. They were signed on its behalf by:

Mr M S Salmon
Director
ROUNDHAM INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
ROUNDHAM INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Roundham Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House, Oak View Close, Edginswell Park, Torquay, TQ2 7FF. The principal place of business is Valley House, Valley Road, Plympton, Plymouth, PL7 1RF.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings not depreciated
Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 July 2022 1,215,000 1,215,000
Additions 224,686 224,686
At 30 June 2023 1,439,686 1,439,686
Accumulated depreciation
At 01 July 2022 0 0
At 30 June 2023 0 0
Net book value
At 30 June 2023 1,439,686 1,439,686
At 30 June 2022 1,215,000 1,215,000

Included within the net book value of land and buildings above is £1,439,686 (2022 - £1,215,000) in respect of freehold investment properties. In the directors opinion the market value of the freehold property at 30 June 2023 is £1,439,686.

4. Debtors

2023 2022
£ £
Prepayments 1,533 1,100

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 4,042 576
Amounts owed to Group undertakings 956,940 956,940
Corporation tax 9,523 6,451
Other creditors 4,576 4,457
975,081 968,424

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 263,434 263,434

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
60 Ordinary shares of £ 1.00 each 60 60

8. Reserves

Included within the profit and loss account balance carried forward are non-distributable reserves of £112,298 (2022: £112,298). These reserves represent the cumulative revaluation gains, after provision for deferred tax, on the company's investment properties.

9. Ultimate controlling party

Parent Company:

Roundham Holdings Limited
Valley House, Valley Road, Plympton, Plymouth, PL7 1RF, England.