Roots Estate Agency Limited 09543395 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of an estate agency. Digita Accounts Production Advanced 6.30.9574.0 true 09543395 2023-04-01 2024-03-31 09543395 2024-03-31 09543395 core:CurrentFinancialInstruments 2024-03-31 09543395 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09543395 core:Non-currentFinancialInstruments 2024-03-31 09543395 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09543395 core:MotorVehicles 2024-03-31 09543395 core:OfficeEquipment 2024-03-31 09543395 bus:SmallEntities 2023-04-01 2024-03-31 09543395 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09543395 bus:FilletedAccounts 2023-04-01 2024-03-31 09543395 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09543395 bus:RegisteredOffice 2023-04-01 2024-03-31 09543395 bus:Director2 2023-04-01 2024-03-31 09543395 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09543395 core:MotorVehicles 2023-04-01 2024-03-31 09543395 core:OfficeEquipment 2023-04-01 2024-03-31 09543395 countries:EnglandWales 2023-04-01 2024-03-31 09543395 2023-03-31 09543395 core:MotorVehicles 2023-03-31 09543395 core:OfficeEquipment 2023-03-31 09543395 2022-04-01 2023-03-31 09543395 2023-03-31 09543395 core:CurrentFinancialInstruments 2023-03-31 09543395 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09543395 core:Non-currentFinancialInstruments 2023-03-31 09543395 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09543395 core:MotorVehicles 2023-03-31 09543395 core:OfficeEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09543395

Roots Estate Agency Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Roots Estate Agency Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Roots Estate Agency Limited

(Registration number: 09543395)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

84,547

114,318

Current assets

 

Debtors

5

20,908

27,455

Cash at bank and in hand

 

113,406

188,597

 

134,314

216,052

Creditors: Amounts falling due within one year

6

(47,687)

(112,370)

Net current assets

 

86,627

103,682

Total assets less current liabilities

 

171,174

218,000

Creditors: Amounts falling due after more than one year

6

(12,918)

(23,051)

Provisions for liabilities

(21,137)

(28,580)

Net assets

 

137,119

166,369

Capital and reserves

 

Called up share capital

1

1

Retained earnings

137,118

166,368

Shareholders' funds

 

137,119

166,369

 

Roots Estate Agency Limited

(Registration number: 09543395)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 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 29 August 2024 and signed on its behalf by:
 

.........................................
Mr C Butcher
Director

 

Roots Estate Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s estate agency activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Roots Estate Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Asset class

Depreciation method and rate

Office Equipment

20% Straight line basis

Motor Vehicles

20% Straight line basis

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Roots Estate Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

14,144

142,476

156,620

Additions

250

-

250

At 31 March 2024

14,394

142,476

156,870

Depreciation

At 1 April 2023

6,683

35,619

42,302

Charge for the year

1,526

28,495

30,021

At 31 March 2024

8,209

64,114

72,323

Carrying amount

At 31 March 2024

6,185

78,362

84,547

At 31 March 2023

7,461

106,857

114,318

5

Debtors

Current

2024
£

2023
£

Trade debtors

17,030

23,340

Prepayments

3,878

4,115

 

20,908

27,455

 

Roots Estate Agency Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

9,909

9,610

Trade creditors

 

2,837

4,019

Taxation and social security

 

26,454

88,012

Other creditors

 

8,487

10,729

 

47,687

112,370

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

12,918

23,051

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,909

9,610

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,918

23,051

8

Related party transactions

Transactions with directors

Mr A Williams (director) had a loan account with the company. At the balance sheet date the amount due to
Mr A Williams was £1,856 (2023 - £986).
Mr C Butcher (director) had a loan account with the company. At the balance sheet date the amount due to Mr
C Butcher was £4,828 (2023 - £3,996).