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Registered number: 01369389










ROGER P. WRIGHT (INVESTMENTS) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
ROGER P. WRIGHT (INVESTMENTS) LIMITED
 

CONTENTS



Page
Accountants' report
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 8


 
ROGER P. WRIGHT (INVESTMENTS) LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ROGER P. WRIGHT (INVESTMENTS) LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Roger P. Wright (Investments) Limited for the year ended 31 March 2024 which comprise the Balance sheet and the related notes 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 https://www.icaew.com/regulation.

This report is made solely to the Board of directors of Roger P. Wright (Investments) Limited, as a body, in accordance with the terms of our engagement letter dated 15 December 2023Our work has been undertaken solely to prepare for your approval the financial statements of Roger P. Wright (Investments) Limited and state those matters that we have agreed to state to the Board of directors of Roger P. Wright (Investments) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Roger P. Wright (Investments) Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Roger P. Wright (Investments) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Roger P. Wright (Investments) Limited. You consider that Roger P. Wright (Investments) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Roger P. Wright (Investments) 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 financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
22 August 2024
Page 1

 
ROGER P. WRIGHT (INVESTMENTS) LIMITED
REGISTERED NUMBER: 01369389

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
820
1,094

Investment property
 5 
985,000
985,000

  
985,820
986,094

Current assets
  

Debtors: amounts falling due within one year
 6 
50
4,152

Bank & cash balances
  
207,249
206,604

  
207,299
210,756

Creditors: amounts falling due within one year
 7 
(27,706)
(36,022)

Net current assets
  
 
 
179,593
 
 
174,734

Total assets less current liabilities
  
1,165,413
1,160,828

Provisions for liabilities
  

Deferred tax
  
(53,222)
(53,222)

Net assets
  
1,112,191
1,107,606


Capital and reserves
  

Called up share capital 
 8 
20,000
20,000

Investment property reserve
 9 
518,103
518,103

Profit and loss account
 9 
574,088
569,503

  
1,112,191
1,107,606


Page 2

 
ROGER P. WRIGHT (INVESTMENTS) LIMITED
REGISTERED NUMBER: 01369389
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 profit and loss account 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 22 August 2024.




................................................
Mrs K.I.Wright
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
ROGER P. WRIGHT (INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a United Kingdom company limited by shares. It is both incorporated and domiciled in England and Wales. The address of its registered office is 17 Kelling Road, Holt, Norfolk, NR25 6RT.
The Company's principal activity during the year continued to be that of property letting. 

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

Turnover comprises revenue recognised by the company in respect of rental income received during the year.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.4

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:

Fixtures and fittings
-
25%
reducing balance

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.

Page 4

 
ROGER P. WRIGHT (INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

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.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

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.

 
2.9

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, loans to related parties and investments in ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
ROGER P. WRIGHT (INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures & fittings

£



Cost


At 1 April 2023
8,265



At 31 March 2024

8,265



Depreciation


At 1 April 2023
7,171


Charge for the year on owned assets
274



At 31 March 2024

7,445



Net book value



At 31 March 2024
820



At 31 March 2023
1,094


5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
985,000



At 31 March 2024
985,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.




Page 6

 
ROGER P. WRIGHT (INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
50
894

Other debtors
-
1,633

Prepayments and accrued income
-
1,625

50
4,152



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
11,942
11,913

Other creditors
12,452
3,456

Accruals and deferred income
3,312
20,653

27,706
36,022


Page 7

 
ROGER P. WRIGHT (INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



5,000 Ordinary shares of £1.00 each
5,000
5,000
5,000 A Ordinary shares of £1.00 each
5,000
5,000
5,000 B Ordinary shares of £1.00 each
5,000
5,000
1,667 C Ordinary shares of £1.00 each
1,667
1,667
1,666 D Ordinary shares of £1.00 each
1,666
1,666
1,667 E Ordinary shares of £1.00 each
1,667
1,667

20,000

20,000



9.


Reserves

Investment property revaluation reserve

The fair value reserve represents the cumulative value of revaluations of the Company's investment properties to fair value, net of deferred tax. The amounts debited or credited to this reserve are transfers from the profit and loss account. Deferred tax is provided for on these fair value adjustments at the standard rate of corporation tax applicable in the UK.


10.


Related party transactions

As at 31 March 2024 the balance owed to the directors was £8,369 (2023: £1,206) and is included within note 7 to the financial statements. The balance is interest free and repayable on demand.

 
Page 8