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Registration number: 06403237

Rosdon Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Rosdon Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Rosdon Limited

Company Information

Directors

Mrs A Ayton

Mr J Ayton

Registered office

The Horse and Groom
East Ashling
Chichester
West Sussex
PO18 9AX

Accountants

Blue Spire Limited
Chartered Accountants
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Rosdon Limited
for the Year Ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rosdon Limited for the year ended 30 September 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Rosdon Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Rosdon Limited and state those matters that we have agreed to state to the Board of Directors of Rosdon Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rosdon Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Rosdon Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Rosdon Limited. You consider that Rosdon Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Rosdon Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Blue Spire Limited
Chartered Accountants
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

19 March 2024

 

Rosdon Limited

(Registration number: 06403237)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

100,000

110,000

Tangible assets

5

504,039

567,068

Investments

6

2

-

 

604,041

677,068

Current assets

 

Stocks

7

14,636

15,640

Debtors

8

416,273

411,956

Cash at bank and in hand

 

1,388

3,352

 

432,297

430,948

Creditors: Amounts falling due within one year

9

(130,771)

(196,820)

Net current assets

 

301,526

234,128

Total assets less current liabilities

 

905,567

911,196

Creditors: Amounts falling due after more than one year

9

(889,301)

(728,978)

Net assets

 

16,266

182,218

Capital and reserves

 

Called up share capital

10

1,000

1,000

Retained earnings

15,266

181,218

Shareholders' funds

 

16,266

182,218

For the financial year ending 30 September 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 March 2024 and signed on its behalf by:
 

.........................................
Mr J Ayton
Director

 

Rosdon Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Horse and Groom
East Ashling
Chichester
West Sussex
PO18 9AX

These financial statements were authorised for issue by the Board on 19 March 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

25% reducing balance or 10 years Straightline if long life asset

Leasehold Property

10% Straight Line

 

Rosdon Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20 Years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Rosdon Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2022 - 13).

 

Rosdon Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2022

200,000

200,000

At 30 September 2023

200,000

200,000

Amortisation

At 1 October 2022

90,000

90,000

Amortisation charge

10,000

10,000

At 30 September 2023

100,000

100,000

Carrying amount

At 30 September 2023

100,000

100,000

At 30 September 2022

110,000

110,000

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

72,610

712,658

785,268

Additions

8,115

3,513

11,628

At 30 September 2023

80,725

716,171

796,896

Depreciation

At 1 October 2022

15,831

202,369

218,200

Charge for the year

6,825

67,832

74,657

At 30 September 2023

22,656

270,201

292,857

Carrying amount

At 30 September 2023

58,069

445,970

504,039

At 30 September 2022

56,779

510,289

567,068

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings and £58,069 (2022 - £56,779) in respect of long leasehold land and buildings.
 

 

Rosdon Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Investments

2023
£

2022
£

Investments in subsidiaries

2

-

Subsidiaries

£

Cost or valuation

Additions

2

Provision

Carrying amount

At 30 September 2023

2

7

Stocks

2023
£

2022
£

Other inventories

14,636

15,640

8

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

12

371,349

371,351

Prepayments

 

30,861

34,648

Other debtors

 

14,063

5,957

   

416,273

411,956

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

21,535

22,210

Trade creditors

 

37,716

70,081

Taxation and social security

 

44,461

54,036

Accruals and deferred income

 

24,031

45,635

Other creditors

 

3,028

4,858

 

130,771

196,820

 

Rosdon Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

889,301

728,978

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

600

600

600

600

Ordinary B of £1 each

400

400

400

400

 

1,000

1,000

1,000

1,000

11

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

16,666

26,667

Other borrowings

872,635

702,311

889,301

728,978

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,123

Bank overdrafts

11,535

12,087

21,535

22,210

12

Related party transactions

The company has been funded by Mr J Ayton, at the balance sheet date the company owes Mr Ayton £872,635 (2022: £702,311).

During the year Mr Ayton opened Rosdon Accommodation Limited, holding 100% shares. As at the year-end Rosdon Accommodation Limited owed £371,349 to Rosdon Limited (2022: £371,351).