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Registered number: 12730860
ROSE & RONALD PROPERTIES LIMITED
Financial Statements
For The Year Ended 31 July 2023
Heighten Accountants
850 Green Lanes
Winchmore Hill
London
N21 2RS
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12730860
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 165,547 -
Tangible Assets 5 188,635 186,686
Investment Properties 6 486,195 -
840,377 186,686
CURRENT ASSETS
Debtors 7 100 100
Cash at bank and in hand 2,426 1,155
2,526 1,255
Creditors: Amounts Falling Due Within One Year 8 (367,449 ) (600 )
NET CURRENT ASSETS (LIABILITIES) (364,923 ) 655
TOTAL ASSETS LESS CURRENT LIABILITIES 475,454 187,341
Creditors: Amounts Falling Due After More Than One Year 9 (482,007 ) (188,000 )
NET LIABILITIES (6,553 ) (659 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (6,653 ) (759 )
SHAREHOLDERS' FUNDS (6,553) (659)
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kadir Levent
Director
09/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
ROSE & RONALD PROPERTIES LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 12730860 . The registered office is 390 Hoe Street, Walthamstow, E17 9AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. Tangible Fixed Assets and Depreciation
25% SLTangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold NIL
Fixtures & Fittings 25% SL
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
0Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
Page 3
Page 4
4. Intangible Assets
Development Costs
£
Cost
As at 1 August 2022 -
Additions 165,547
As at 31 July 2023 165,547
Net Book Value
As at 31 July 2023 165,547
As at 1 August 2022 -
5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2022 186,686 - 186,686
Additions - 2,599 2,599
As at 31 July 2023 186,686 2,599 189,285
Depreciation
As at 1 August 2022 - - -
Provided during the period - 650 650
As at 31 July 2023 - 650 650
Net Book Value
As at 31 July 2023 186,686 1,949 188,635
As at 1 August 2022 186,686 - 186,686
6. Investment Property
2023
£
Fair Value
As at 1 August 2022 -
Additions 486,195
As at 31 July 2023 486,195
7. Debtors
2023 2022
£ £
Due within one year
Unpaid Share Capital 100 100
100 100
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 113,500 -
Other loans 60,500 -
Accruals and deferred income 800 600
Director's loan account 192,649 -
367,449 600
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 294,301 188,000
Other loans 187,706 -
482,007 188,000
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5