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Registered number: 00795192










ROCENNIL DEVELOPMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
ROCENNIL DEVELOPMENTS LIMITED
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 5


 
ROCENNIL DEVELOPMENTS LIMITED
REGISTERED NUMBER: 00795192

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
104,424
108,059

Current assets
  

Debtors
 5 
7,346
7,346

Cash at bank and in hand
  
58,932
51,187

  
66,278
58,533

Creditors: amounts falling due within one year
 6 
(12,705)
(4,202)

Net current assets
  
 
 
53,573
 
 
54,331

Total assets less current liabilities
  
157,997
162,390

  

Net assets
  
157,997
162,390


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
157,995
162,388

  
157,997
162,390


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 August 2024.


Mr G A Linnecor
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
ROCENNIL DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Rocennil Developments Limited is a private company limited by shares incorporated and domiciled in the England. The address of the registered office is 76 Sherifoot Lane, Four Oaks, Sutton Coldfield, B75 5DU, which is also the address of its principal place of business.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rental income is recognised in the period to which it relates and is included within turnover.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25%
per annum
Motor vehicles
-
25%
per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

The investment property is carried at cost. This is not in accordance with FRS 102 which states investment property should be held at fair value.

Page 2

 
ROCENNIL DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.  

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due.  Amounts not paid are shown in accruals as a liability in the Balance Sheet.  The assets of the plan are held separately from the Company in independently administered funds.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 3

 
ROCENNIL DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Investment property
Plant & machinery
Motor vehicles
Total

£
£
£
£



Cost


At 1 April 2023
93,213
10,545
9,990
113,748


Additions
-
458
-
458


Disposals
-
(1,766)
-
(1,766)



At 31 March 2024

93,213
9,237
9,990
112,440



Depreciation


At 1 April 2023
-
4,440
1,249
5,689


Charge for the year on owned assets
-
1,546
2,185
3,731


Disposals
-
(1,404)
-
(1,404)



At 31 March 2024

-
4,582
3,434
8,016



Net book value



At 31 March 2024
93,213
4,655
6,556
104,424



At 31 March 2023
93,213
6,105
8,741
108,059

Page 4

 
ROCENNIL DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
7,346
7,346



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
8,000
-

Other taxation and social security
880
379

Accruals and deferred income
3,825
3,823

12,705
4,202



7.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,000 (2023: £4,000).


8.


Parent undertaking

Rocennil Limited is a 100% subsidiary of Linnecor & Co Limited, a company registered in the UK whose registered office and principal place of business is 76 Sherifoot Lane, Four Oaks, Sutton Coldfield, B75 5DU.

 
Page 5