Company Registration No. 02968539 (England and Wales)
ROSEWELL PROPERTIES LIMITED
Unaudited accounts
for the year ended 31 December 2023
ROSEWELL PROPERTIES LIMITED
Unaudited accounts
Contents
ROSEWELL PROPERTIES LIMITED
Company Information
for the year ended 31 December 2023
Directors
Henry George SIDWELL
Paul SIDWELL
Rosabel Ogilvie Downie SIDWELL
Steven Henry SIDWELL
Company Number
02968539 (England and Wales)
Registered Office
78 THE DRIVE
MORDEN
SURREY
SM4 6DP
Accountants
FR Accounting Services
65 St Helier Avenue
Morden
Surrey
SM4 6HY
ROSEWELL PROPERTIES LIMITED
Statement of financial position
as at 31 December 2023
Tangible assets
66,189
67,922
Investment property
6,746,502
6,352,010
Cash at bank and in hand
54,540
341,631
Creditors: amounts falling due within one year
(396,775)
(522,735)
Net current liabilities
(334,387)
(168,323)
Total assets less current liabilities
6,478,304
6,251,609
Creditors: amounts falling due after more than one year
(1,614,717)
(1,614,717)
Provisions for liabilities
Deferred tax
(634,148)
(572,398)
Net assets
4,229,439
4,064,494
Called up share capital
600
600
Revaluation reserve
3,992,939
3,729,689
Profit and loss account
235,900
334,205
Shareholders' funds
4,229,439
4,064,494
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by
Henry George SIDWELL
Director
Company Registration No. 02968539
ROSEWELL PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 December 2023
ROSEWELL PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 02968539. The registered office is 78 THE DRIVE, MORDEN, SURREY, SM4 6DP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
ROSEWELL PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 December 2023
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
94,228
17,247
23,964
15,738
151,177
At 31 December 2023
94,228
17,247
23,964
15,738
151,177
At 1 January 2023
28,386
17,247
22,527
15,095
83,255
Charge for the year
1,317
-
287
129
1,733
At 31 December 2023
29,703
17,247
22,814
15,224
84,988
At 31 December 2023
64,525
-
1,150
514
66,189
At 31 December 2022
65,842
-
1,437
643
67,922
Fair value at 1 January 2023
6,352,010
Net gain from fair value adjustments
325,000
At 31 December 2023
6,746,502
Amounts falling due within one year
Accrued income and prepayments
3,815
2,523
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
676
-
Trade creditors
1,800
8,542
Taxes and social security
11,611
27,097
Loans from directors
371,834
480,655
Deferred income
10,854
6,441
ROSEWELL PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 December 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
1,614,717
1,614,717
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).