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Registered number: 00858793










ROPLEY PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 MARCH 2024

 
ROPLEY PROPERTIES LIMITED
REGISTERED NUMBER: 00858793

BALANCE SHEET
AS AT 29 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
275,000
275,000

Current assets
  

Debtors: amounts falling due within one year
 5 
45,513
44,139

Cash at bank and in hand
 6 
162,929
194,317

  
208,442
238,456

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(25,844)
(24,268)

Net current assets
  
 
 
182,598
 
 
214,188

Total assets less current liabilities
  
457,598
489,188

  

Net assets
  
457,598
489,188


Capital and reserves
  

Called up share capital 
 8 
1,000
1,000

Profit and loss account
  
456,598
488,188

  
457,598
489,188


Page 1

 
ROPLEY PROPERTIES LIMITED
REGISTERED NUMBER: 00858793

BALANCE SHEET (CONTINUED)
AS AT 29 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 by: 




J Arkwright
Director

Date: 15 August 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ROPLEY PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2024

1.


General information

Ropley Properties Limited is a private company limited by shares, incorporated in England and Wales. The registered office of the Company is 115 Mount Street, London, W1K 3NQ.  

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

Revenue

Revenue represents rents receivable from investment properties.
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.

  
2.3

Investment property

Investment property is carried at fair value. No depreciation is provided. Changes in fair value are recognised in the Profit and loss account. 
Fair value is determined annually by Directors and where the Directors consider appropiate by external valuers. Valuations are derived from the current market rents and investment property yields for comparable property and adjusted if necessary for any difference in the nature, location or condition of the specific asset.

 
2.4

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.

 
2.5

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.

 
2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Page 3

 
ROPLEY PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2024

2.Accounting policies (continued)

 
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

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.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees




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

Page 4

 
ROPLEY PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 30 March 2023
275,000



At 29 March 2024
275,000

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





5.


Debtors

2024
2023
£
£


Trade debtors
5,337
3,643

Prepayments and accrued income
-
320

Deferred taxation
40,176
40,176

45,513
44,139



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
162,929
194,317

Less: bank overdrafts
(281)
-

162,648
194,317


Page 5

 
ROPLEY PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
281
-

Trade creditors
6,135
6,135

Corporation tax
4,282
4,589

Other taxation and social security
1,096
722

Other creditors
5,154
5,109

Accruals and deferred income
8,896
7,713

25,844
24,268



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



9.


Controlling party

The Company is controlled by Mrs A Trollope


Page 6