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Registration number: 12484135

Rojac Investments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Rojac Investments Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Rojac Investments Ltd

Company Information

Directors

Mr Adam Philip Nicholson

Mrs Jacqueline Monticelli

Mr Roberto Monticelli

Company secretary

Mr Roberto Monticelli

Registered office

8th Floor
1 Southampton Street
London
WC2R 0LR

Accountants

Charter Tax Consulting Limited
8th Floor
1 Southampton Street
London
WC2R 0LR

 

Rojac Investments Ltd

(Registration number: 12484135)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

461,777

461,777

Current assets

 

Debtors

5

1,003

703

Cash at bank and in hand

 

14,449

11,552

 

15,452

12,255

Creditors: Amounts falling due within one year

6

(444,533)

(452,015)

Net current liabilities

 

(429,081)

(439,760)

Net assets

 

32,696

22,017

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

32,596

21,917

Shareholders' funds

 

32,696

22,017

For the financial year ending 29 February 2024 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 5 August 2024 and signed on its behalf by:
 

Mr Roberto Monticelli
Company secretary and director

   
     
 

Rojac Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
8th Floor
1 Southampton Street
London
WC2R 0LR
U.K.

These financial statements were authorised for issue by the Board on 5 August 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 Company expects to receive ongoing rental income and the shareholders have confirmed that they will support the Company for the next twelve months so therefore the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable through the letting of a residential property. 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.

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.

 

Rojac Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. In determining the valuation, observable market prices are used, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 rent received 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 3 (2023 - 3).

 

Rojac Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Investment properties

2024
£

At 1 March

461,777

At 29 February

461,777

The Directors have reviewed the fair value of the property by observing market prices and have deemed there to be no change in the fair value at the year end.

There has been no valuation of investment property by an independent valuer.

5

Debtors

2024
£

2023
£

Prepayments

1,003

703

1,003

703

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,505

1,808

Accruals and deferred income

2,858

2,883

Other creditors

439,170

447,324

444,533

452,015

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Rojac Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Related party transactions

During the period, two directors provided the company with interest-free loans. Both loans are repayable on demand.

Transactions with directors

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr Roberto Monticelli

Directors loan

(223,642)

4,310

(234)

(219,565)

Mrs Jacqueline Monticelli

Directors loan

(223,682)

4,310

(234)

(219,605)

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mr Roberto Monticelli

Directors loan

(148,752)

3,333

(78,223)

(223,642)

Mrs Jacqueline Monticelli

Directors loan

(148,791)

3,333

(78,224)

(223,682)