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Company No: 10398443 (England and Wales)

ROUNDHAM HOLDINGS LIMITED

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

ROUNDHAM HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

ROUNDHAM HOLDINGS LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2023
ROUNDHAM HOLDINGS 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
England
COMPANY NUMBER 10398443 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
ROUNDHAM HOLDINGS LIMITED

BALANCE SHEET

As at 30 June 2023
ROUNDHAM HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,560,295 1,571,002
Investments 4 10,120 10,120
1,570,415 1,581,122
Current assets
Debtors 5 1,115,842 974,290
Cash at bank and in hand 49,052 146,967
1,164,894 1,121,257
Creditors: amounts falling due within one year 6 ( 90,016) ( 77,265)
Net current assets 1,074,878 1,043,992
Total assets less current liabilities 2,645,293 2,625,114
Creditors: amounts falling due after more than one year 7 ( 506,702) ( 552,488)
Provision for liabilities ( 73,099) ( 75,776)
Net assets 2,065,492 1,996,850
Capital and reserves
Called-up share capital 8 190 190
Profit and loss account 10 2,065,302 1,996,660
Total shareholders' funds 2,065,492 1,996,850

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 Holdings Limited (registered number: 10398443) 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 HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
ROUNDHAM HOLDINGS 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 Holdings 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, United Kingdom. The principal place of business is Valley House, Valley Road, Plympton, Plymouth, PL7 1RF, England.

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 stated net of VAT and 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 (or recoverable) 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 on a straight-line/reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Vehicles 15 % reducing balance
Office equipment 6 - 7 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Land and buildings Vehicles Office equipment Total
£ £ £ £
Cost
At 01 July 2022 1,500,000 74,335 1,692 1,576,027
At 30 June 2023 1,500,000 74,335 1,692 1,576,027
Accumulated depreciation
At 01 July 2022 0 4,646 379 5,025
Charge for the financial year 0 10,453 254 10,707
At 30 June 2023 0 15,099 633 15,732
Net book value
At 30 June 2023 1,500,000 59,236 1,059 1,560,295
At 30 June 2022 1,500,000 69,689 1,313 1,571,002

Included within the net book value of land and buildings above is £1,500,000 (2022 - £1,500,000) in respect of freehold land and buildings. In the directors opinion the market value of freehold property at 30 June 2023 is £1,500,000.

4. Fixed asset investments

2023 2022
£ £
Subsidiary undertakings 10,120 10,120

Investments in subsidiaries

2023
£
Cost
At 01 July 2022 10,120
At 30 June 2023 10,120
Carrying value at 30 June 2023 10,120
Carrying value at 30 June 2022 10,120

5. Debtors

2023 2022
£ £
Trade debtors 7,396 0
Amounts owed by directors 99,980 0
Prepayments 3,783 3,350
Other debtors 1,004,683 970,940
1,115,842 974,290

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 39,058 40,614
Trade creditors 1,514 1,114
Corporation tax 33,743 165
Other taxation and social security 3,034 5,842
Obligations under finance leases and hire purchase contracts 8,112 8,112
Other creditors 4,555 21,418
90,016 77,265

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

2023 2022
£ £
Bank loans 501,294 538,969
Obligations under finance leases and hire purchase contracts 5,408 13,519
506,702 552,488

Hire purchase borrowings are secured on the individual assets taken out on hire purchase.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
19,000 Ordinary shares of £ 0.01 each 190 190

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Balance brought forward 0 0
Add : Advances made during the year 102,271 0
Less : Repayments made during the year (2,291) 0
Balance carried forward 99,980 0

10. Reserves

Included within the profit and loss account balance carried forward are non-distributable reserves of £104,692 (2022: £104,692). These reserves represent the cumulative revaluation gains, after provision for deferred tax, on the company's investment properties.