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Registration number: 00633925

Rousebarn Investment Company Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Rousebarn Investment Company Ltd

Company Information

Directors

Mrs PAM Ross

Mr TRE Thompson

Mr C Walsh

Mr NP Russell

Mr JE Russell

Mrs LEA Rogers

Registered office

Unit 8
Churchill Court
58 Station Road
North Harrow, Middlesex
HA2 7SA

 

Rousebarn Investment Company Ltd

(Registration number: 00633925)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

610,000

610,000

Current assets

 

Debtors

5

593

598

Cash at bank and in hand

 

103,544

99,703

 

104,137

100,301

Creditors: Amounts falling due within one year

6

(3,725)

(3,626)

Net current assets

 

100,412

96,675

Total assets less current liabilities

 

710,412

706,675

Provisions for liabilities

(111,505)

(111,505)

Net assets

 

598,907

595,170

Capital and reserves

 

Called up share capital

7

75,000

75,000

Revaluation reserve

446,020

446,020

Retained earnings

77,887

74,150

Shareholders' funds

 

598,907

595,170

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

Approved and authorised by the Board on 25 February 2024 and signed on its behalf by:
 

 

Rousebarn Investment Company Ltd

(Registration number: 00633925)
Balance Sheet as at 31 July 2023

.........................................
Mrs PAM Ross
Director

.........................................
Mr NP Russell
Director

 

Rousebarn Investment Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
Unit 8
Churchill Court
58 Station Road
North Harrow, Middlesex
HA2 7SA

These financial statements were authorised for issue by the Board on 25 February 2024.

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.

Revenue recognition

The turnover shown in the statement of financial position represents rent receivable for the year.

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 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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.

 

Rousebarn Investment Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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.

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.

3

Staff numbers

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

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 August 2022

610,000

610,000

At 31 July 2023

610,000

610,000

Depreciation

Carrying amount

At 31 July 2023

610,000

610,000

At 31 July 2022

610,000

610,000

Included within the net book value of land and buildings above is £610,000 (2022 - £610,000) in respect of freehold land and buildings.
 

 

Rousebarn Investment Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

5

Debtors

Current

2023
£

2022
£

Prepayments

593

598

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

1,104

1,145

Accruals and deferred income

852

852

Other creditors

1,769

1,629

3,725

3,626

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

75,000

75,000

75,000

75,000