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REGISTERED NUMBER: 12043087 (England and Wales)















ROMILEY PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023






ROMILEY PROPERTY LIMITED (REGISTERED NUMBER: 12043087)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ROMILEY PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: O M Black





REGISTERED OFFICE: The Exchange
5 Bank Street
Bury
BL9 0DN





REGISTERED NUMBER: 12043087 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN

ROMILEY PROPERTY LIMITED (REGISTERED NUMBER: 12043087)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 746 1,329
Investment property 5 1,018,996 793,929
1,019,742 795,258

CURRENT ASSETS
Debtors 6 695 3,742
Cash at bank 1,664 5,049
2,359 8,791
CREDITORS
Amounts falling due within one year 7 (792,889 ) (516,234 )
NET CURRENT LIABILITIES (790,530 ) (507,443 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

229,212

287,815

CREDITORS
Amounts falling due after more than one
year

8

(184,946

)

(184,946

)

PROVISIONS FOR LIABILITIES (24,686 ) (24,686 )
NET ASSETS 19,580 78,183

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 105,240 105,240
Retained earnings (85,760 ) (27,157 )
19,580 78,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ROMILEY PROPERTY LIMITED (REGISTERED NUMBER: 12043087)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 March 2024 and were signed by:





O M Black - Director


ROMILEY PROPERTY LIMITED (REGISTERED NUMBER: 12043087)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Romiley Property Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 12043087 and its registered office address is The Exchange, 5 Bank Street, Bury, BL9 0DN.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company is dependent on the financial support of the director who has provided funding via a director's loan account. The director has indicated that this financial support will be maintained as required and will not be withdrawn to the detriment of the company.

As a result of the above, the director is satisfied that the company is a going concern and that the financial statements are correctly prepared on this basis.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below:-

i) Determining the fair value of investment properties as at the year end date.

Revenue
Revenue comprises rental income from the letting of residential property. Rental income is recognised evenly over the respective lease terms.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33.3% on cost

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

ROMILEY PROPERTY LIMITED (REGISTERED NUMBER: 12043087)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

ROMILEY PROPERTY LIMITED (REGISTERED NUMBER: 12043087)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 July 2022
and 30 June 2023 1,767
DEPRECIATION
At 1 July 2022 438
Charge for year 583
At 30 June 2023 1,021
NET BOOK VALUE
At 30 June 2023 746
At 30 June 2022 1,329

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 793,929
Additions 225,067
At 30 June 2023 1,018,996
NET BOOK VALUE
At 30 June 2023 1,018,996
At 30 June 2022 793,929

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2021 120,175
Valuation in 2022 9,752
Cost 889,069
1,018,996

Investment properties have been valued by the director at an open market value as at the year end date.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 695 3,398
Other debtors - 344
695 3,742

ROMILEY PROPERTY LIMITED (REGISTERED NUMBER: 12043087)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 2,249
Other creditors 792,889 513,985
792,889 516,234

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 184,946 184,946

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage loan 184,946 184,946

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage loan 184,946 184,946

The mortgage advances are secured against investment properties they relate to.