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REGISTERED NUMBER: SC086189 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Roseisle Estates Limited

Roseisle Estates Limited (Registered number: SC086189)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Roseisle Estates Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: W A B Watt
R G Watt





REGISTERED OFFICE: 34 Whitecraig Road
Whitecraig
Musselburgh
EH21 8NE





REGISTERED NUMBER: SC086189 (Scotland)





ACCOUNTANTS: Accountants Plus
Chartered Certified Accountants
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

Roseisle Estates Limited (Registered number: SC086189)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,555,847 1,081,501
Investments 5 1 1
Investment property 6 1,560,000 1,560,000
3,115,848 2,641,502

CURRENT ASSETS
Stocks 830,395 938,376
Debtors 7 156,082 25,870
Investments 8 12,450 7,900
Cash at bank 219,760 425,887
1,218,687 1,398,033
CREDITORS
Amounts falling due within one year 9 364,937 181,454
NET CURRENT ASSETS 853,750 1,216,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,969,598

3,858,081

CREDITORS
Amounts falling due after more than
one year

10

(83,572

)

(15,520

)

PROVISIONS FOR LIABILITIES (439,448 ) (355,180 )
NET ASSETS 3,446,578 3,487,381

Roseisle Estates Limited (Registered number: SC086189)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 106 106
Share premium 54,106 54,106
Revaluation reserve 11 143,155 143,155
Fair value reserve 11 1,143,014 1,143,014
Retained earnings 2,106,197 2,147,000
3,446,578 3,487,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:




W A B Watt - Director



R G Watt - Director


Roseisle Estates Limited (Registered number: SC086189)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Roseisle Estates Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date, turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and at variable rates on reducing balance

The company assesses at each reporting date whether tangible fixed assets are impaired. Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since the last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Roseisle Estates Limited (Registered number: SC086189)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
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.

Creditors
Short term creditors are measured at transaction price, less any impairment. 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.

Cash and bank balances
Cash and bank balances are measured at the transaction price.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Roseisle Estates Limited (Registered number: SC086189)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 800,000 610,180 1,410,180
Additions - 562,448 562,448
Impairments - (256,186 ) (256,186 )
At 31 December 2023 800,000 916,442 1,716,442
DEPRECIATION
At 1 January 2023 - 328,679 328,679
Charge for year - 64,958 64,958
Impairments - (233,042 ) (233,042 )
At 31 December 2023 - 160,595 160,595
NET BOOK VALUE
At 31 December 2023 800,000 755,847 1,555,847
At 31 December 2022 800,000 281,501 1,081,501

Included in cost or valuation of land and buildings is freehold land of £ 800,000 (2022 - £ 800,000 ) which is not depreciated.

Under the provisions of FRS102, land and buildings for own use are not treated as an investment property. Last year, the land and buildings included above was an allocation of the fair valuation of one of the properties which was partly used for the company's own use. From April 2018, the whole property has been used by the company for the purpose of motor home rentals, motor home sales, the operation of a service workshop and the operation of the associated administration facilities.

The property was valued on an open market basis as at December 2018 by Montagu Evans, Chartered Surveyors. The valuations is also regarded as fair value of the property at 31 December 2023.

If the property for own use had not been revalued it would have been included at the historical cost of £466,459 (2022 - £449,459).

No depreciation has been charged. This year £272,333 (2022 - £4,997) has been spent on improvements on an ongoing project to upgrade the premises.

Roseisle Estates Limited (Registered number: SC086189)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,560,000
NET BOOK VALUE
At 31 December 2023 1,560,000
At 31 December 2022 1,560,000

The land and buildings included above are used for the purposes of generating rental income.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2018 1,411,129
Cost 148,871
1,560,000

If these investment properties had not been revalued they would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 148,871 148,871

Investment properties were valued on an open market basis basis on 31 December 2018 by Montagu Evans .

Roseisle Estates Limited (Registered number: SC086189)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 34,649 6,219
Other debtors 57,668 19,651
Tax 15,981 -
VAT 47,027 -
Prepayments 757 -
156,082 25,870

8. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Unlisted investments 7,900 7,900
Other 4,550 -
12,450 7,900

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 4,928 4,656
Trade creditors 90,794 3,588
Amounts owed to group undertakings 177,420 -
Tax - 15,981
Social security and other taxes 6,281 4,145
VAT - 11,358
Other creditors 13,320 18,048
Directors' current accounts 32,759 65,907
Accruals and deferred income 39,435 57,771
364,937 181,454

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 83,572 15,520

11. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 January 2023
and 31 December 2023 143,155 1,143,014 1,286,169

Roseisle Estates Limited (Registered number: SC086189)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
W A B Watt
Balance outstanding at start of year (65,907 ) 14,305
Amounts advanced 33,148 -
Amounts repaid - (80,212 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (32,759 ) (65,907 )