Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr K R Hall 20/12/2016 Mrs T R Hardick 20/12/2016 04 September 2024 The principal activity of the Company during the financial year was the development of building projects and commercial rental. 10533829 2023-12-31 10533829 bus:Director1 2023-12-31 10533829 bus:Director2 2023-12-31 10533829 2022-12-31 10533829 core:CurrentFinancialInstruments 2023-12-31 10533829 core:CurrentFinancialInstruments 2022-12-31 10533829 core:ShareCapital 2023-12-31 10533829 core:ShareCapital 2022-12-31 10533829 core:RetainedEarningsAccumulatedLosses 2023-12-31 10533829 core:RetainedEarningsAccumulatedLosses 2022-12-31 10533829 bus:OrdinaryShareClass1 2023-12-31 10533829 2023-01-01 2023-12-31 10533829 bus:FilletedAccounts 2023-01-01 2023-12-31 10533829 bus:SmallEntities 2023-01-01 2023-12-31 10533829 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10533829 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10533829 bus:Director1 2023-01-01 2023-12-31 10533829 bus:Director2 2023-01-01 2023-12-31 10533829 2022-01-01 2022-12-31 10533829 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 10533829 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10533829 (England and Wales)

ROSENEATH PENRYN LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

ROSENEATH PENRYN LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

ROSENEATH PENRYN LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
ROSENEATH PENRYN LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Mr K R Hall
Mrs T R Hardick
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 10533829 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
ROSENEATH PENRYN LIMITED

BALANCE SHEET

As at 31 December 2023
ROSENEATH PENRYN LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 31.12.2023 31.12.2022
£ £
Fixed assets
Investment property 3 1,750,000 1,750,000
1,750,000 1,750,000
Current assets
Debtors 4 23,859 3,500
Cash at bank and in hand 1,028 1,125
24,887 4,625
Creditors: amounts falling due within one year 5 ( 1,326,637) ( 1,292,774)
Net current liabilities (1,301,750) (1,288,149)
Total assets less current liabilities 448,250 461,851
Provision for liabilities ( 128,950) ( 132,700)
Net assets 319,300 329,151
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 319,200 329,051
Total shareholders' funds 319,300 329,151

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Roseneath Penryn Limited (registered number: 10533829) were approved and authorised for issue by the Board of Directors on 04 September 2024. They were signed on its behalf by:

Mrs T R Hardick
Director
ROSENEATH PENRYN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
ROSENEATH PENRYN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Roseneath Penryn Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The principal place of business is 56 The Square, Chagford, Newton Abbot, TQ13 8AE.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

The turnover shown in the profit and loss account represents rent receivable in the year. Revenue is recognised evenly over the rental period.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

No depreciation is provided on the investment property which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors the property is held primarily for its investment potential and so its current value is of more significance than any measure of consumption and to depreciate it would not give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

31.12.2023 31.12.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Investment property

Investment property
£
Valuation
As at 01 January 2023 1,750,000
As at 31 December 2023 1,750,000

The investment properties were valued on 31 December 2022 by the director who is internal to the company. The basis of this valuation was open market value.

There has been no valuation of investment property by an independent valuer.

4. Debtors

31.12.2023 31.12.2022
£ £
Trade debtors 960 960
Amounts owed by Group undertakings 20 20
Other debtors 22,879 2,520
23,859 3,500

5. Creditors: amounts falling due within one year

31.12.2023 31.12.2022
£ £
Trade creditors 0 317
Amounts owed to Group undertakings 172,804 138,305
Amounts owed to directors 1,151,533 1,151,533
Accruals 2,300 2,200
Other taxation and social security 0 419
1,326,637 1,292,774

6. Called-up share capital

31.12.2023 31.12.2022
£ £
Allotted, called-up and fully-paid
100 ordinary shares of £ 1.00 each 100 100

Included in the profit and loss account is a profit of £Nil (2022: £408,738) that relates to non-distributable reserves. At the year end, non-distributable funds totalled £304,450 (2022: £329,051).

7. Related party transactions

During the year, loans existed between the directors' and the spouse of one of the directors and Roseneath Penryn Limited. No interest was charged on the loans and the balance is repayable on demand. At the balance sheet date the amount due to the directors' and the spouse of one of the directors by Roseneath Penryn Limited was £1,151,533 (2022: £1,151,533).

During the year, a loan existed between Roseneath Penryn Limited and Brechin Investments Limited. At the balance sheet date the amount due to Brechin Investments Limited was £ 152,150 (2022: £117,650 ). The balance is repayable on demand.

During the year, a loan existed between Roseneath Penryn Limited and Irregular Contracts Limited. At the balance sheet date the amount due to Irregular Contracts was £1,000 (2022: £1,000). The balance is repayable on demand.

During the year, a loan existed between Roseneath Penryn Limited and Irregular Cornwall Limited. At the balance sheet date the amount due to Irregular Cornwall was £19,653 (2022: £19,653). The balance is repayable on demand.

During the year, a loan existed between Roseneath Penryn Limited and Roseneath Estates Limited. At the balance sheet date the amount due from Roseneath Estates was £20 (2022: £20). The balance is repayable on demand.