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Registered Number: 11052538
England and Wales

 

 

 

ROC UK PROPERTIES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 8,585    16,103 
Investments 4 573,955    1,080,732 
582,540    1,096,835 
Current assets      
Debtors 466,773    408,101 
Cash at bank and in hand 684,478    41,872 
1,151,251    449,973 
Creditors: amount falling due within one year (918,636)   (839,522)
Net current assets 232,615    (389,549)
 
Total assets less current liabilities 815,155    707,286 
Creditors: amount falling due after more than one year (15,842)   (27,947)
Provisions for liabilities (1,631)   (3,060)
Net assets 797,682    676,279 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 797,582    676,179 
Shareholders' funds 797,682    676,279 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 22 August 2024 and were signed on its behalf by:


-------------------------------
Charlie Arnold
Director
1
General Information
ROC UK Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 11052538, registration address 2 Claridge Court, Lower Kings Road, Berkhamsted, Hertfordshire, HP4 2AF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
These financial statements have been prepared in accordance with "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other that where additional disclosure is required to show a true and fair view. The financial statements have been prepared on the going concern basis and under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover includes revenue earned from the the rental of property, the policies adopted are as follows:
  • Rental of Property: Turnover from the rental of property is recognised on an accrual basis in line with the contract in place with the tenant. Rents are recognised when due for payment. 
  • Consultancy:  Turnover from consultancy is recognised on an accrual basis in line with the contract in place.
  • Sale of assets:  Revenue is recognised at point of completion. 
  • Other revenue: Recognition is when it is received or when the right to receive payment is established.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.
Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the company has legal right to set off against current tax liabilities and if they both relate to income tax levied by the same taxation authority on the same entity.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Motor Vehicles 20% Reducing Balance
Computer Equipment 20% Straight Line
Investment properties
Investment properties are included in the statement of financial position at their open market value at the statement of financial position date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the statement of financial position to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Significant Judgements and Estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The following are significant management judgements in applying the accounting policies of the group that have the most significant effect on the financial statements.
  • Valuation of investment property
As with any valuation there is an element of subjectivity, the Directors have valued the investment properties based on their skill and judgement, having had extensive experience in the property sector. The directors believe the carrying value reflects the true fair market value at the date of the report taking into account all current market conditions.
  • Going Concern
The Directors have reviewed the companys budgets and forecasts for beyond 12 months from the date of this report, its liquid resources, medium term plans and potential impact of the outbreak of Coronavirus disease. The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and, accordingly, consider that it is appropriate to adopt the going concern basis in preparing these financial statements.
2.

Average number of employees and directors

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 December 2022 1,365    19,961    1,964    23,290 
Additions     2,489    2,489 
Disposals   (11,628)     (11,628)
At 30 November 2023 1,365    8,333    4,453    14,151 
Depreciation
At 01 December 2022 683    5,853    651    7,187 
Charge for year 341    2,821    891    4,053 
On disposals   (5,674)     (5,674)
At 30 November 2023 1,024    3,000    1,542    5,566 
Net book values
Closing balance as at 30 November 2023 341    5,333    2,911    8,585 
Opening balance as at 01 December 2022 682    14,108    1,313    16,103 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 December 2022 1,080,732    1,080,732 
Additions  
Transfer to/from tangible fixed assets  
Disposals (438,748)   (438,748)
Revaluations (68,029)   (68,029)
At 30 November 2023 573,955    573,955 
The directors have reviewed the value of the Investment Properties using their skill and judgement along with relevant research on the market. The directors have concluded that the assets are carried at a fair market value and no adjustment is necessary.

2