Company Registration No. SC467041 (Scotland)
Rochester Apartments (Scotland) Limited
Unaudited accounts
for the year ended 31 December 2023
Rochester Apartments (Scotland) Limited
Unaudited accounts
Contents
Rochester Apartments (Scotland) Limited
Company Information
for the year ended 31 December 2023
Directors
Alexander Gary Smeaton
Maria P Smeaton
Company Number
SC467041 (Scotland)
Registered Office
5 Buckstone Terrace
Edinburgh
EH10 6QA
Scotland
Accountants
Bridge of Allan Enterprise Ltd
"The Summerhouse"
29A Kenilworth Road, Bridge of Allan
Stirling
FK9 4EH
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Rochester Apartments (Scotland) Limited
for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Rochester Apartments (Scotland) Limited for the year ended
31 December 2023 as set out on pages
5 -
8 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
Our work has been undertaken in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
Bridge of Allan Enterprise Ltd
Chartered Accountants
"The Summerhouse"
29A Kenilworth Road, Bridge of Allan
Stirling
FK9 4EH
17 July 2024
Rochester Apartments (Scotland) Limited
Statement of financial position
as at 31 December 2023
Tangible assets
1,728
2,591
Investment property
1,422,256
1,609,455
Cash at bank and in hand
6,790
13,821
Creditors: amounts falling due within one year
(792,172)
(756,183)
Net current liabilities
(775,082)
(741,379)
Total assets less current liabilities
648,902
870,667
Provisions for liabilities
Deferred tax
(8,902)
(27,463)
Net assets
640,000
843,204
Called up share capital
100
100
Revaluation reserve
313
169,115
Profit and loss account
639,587
673,989
Shareholders' funds
640,000
843,204
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2024 and were signed on its behalf by
Alexander Gary Smeaton
Director
Company Registration No. SC467041
Rochester Apartments (Scotland) Limited
Notes to the Accounts
for the year ended 31 December 2023
Rochester Apartments (Scotland) Limited is a private company, limited by shares, registered in Scotland, registration number SC467041. The registered office is 5 Buckstone Terrace , Edinburgh , EH10 6QA, Scotland .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
At 31 December 2023 the company had net current liabilities of £675082 (2022 - £741379) and relies on the continued support of the directors to finance its day-to-day working requirements. The directors consider it appropriate to prepare the financial statements on the going concern basis.
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
25% per annum on cost
Fixtures & fittings
25% per annum on cost
Computer equipment
25% per annum on cost
Rochester Apartments (Scotland) Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
4,390
15,672
4,766
24,828
At 31 December 2023
4,390
15,672
4,766
24,828
At 1 January 2023
4,390
15,672
2,175
22,237
Charge for the year
-
-
863
863
At 31 December 2023
4,390
15,672
3,038
23,100
At 31 December 2023
-
-
1,728
1,728
At 31 December 2022
-
-
2,591
2,591
Fair value at 1 January 2023
1,609,455
Net loss from fair value adjustments
(187,199)
At 31 December 2023
1,422,256
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.
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
22,067
-
Other creditors
119,343
36,294
Loans from directors
484,004
595,158
Rochester Apartments (Scotland) Limited
Notes to the Accounts
for the year ended 31 December 2023
Allotted, called up and fully paid:
51 Ordinary A Shares of £1 each
51
51
49 Ordinary B Shares of £1 each
49
49
9
Transactions with related parties
Included within "Other creditors" is a balance of £484004 (2022 - £595158) due to the directors. No fixed terms of repayment have been agreed.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).