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Registered number: 04391509










ROY BROTHERS PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ROY BROTHERS PROPERTIES LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 7


 
ROY BROTHERS PROPERTIES LIMITED
REGISTERED NUMBER:04391509

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Investment property
 5 
1,674,026
1,799,026

Current assets
  

Debtors: amounts falling due after more than one year
 6 
54,967
59,800

Debtors: amounts falling due within one year
 6 
191,003
245,544

Cash at bank and in hand
 7 
985,842
702,806

  
1,231,812
1,008,150

Creditors: amounts falling due within one year
 8 
(91,365)
(52,029)

Net current assets
  
 
 
1,140,447
 
 
956,121

Total assets less current liabilities
  
2,814,473
2,755,147

Creditors: amounts falling due after more than one year
 9 
-
(41,811)

  

Net assets
  
2,814,473
2,713,336


Capital and reserves
  

Called up share capital 
  
100,000
100,000

Share premium account
  
720,271
720,271

Revaluation reserve
  
684,291
684,291

Profit and loss account
  
1,309,911
1,208,774

  
2,814,473
2,713,336


Page 1

 
ROY BROTHERS PROPERTIES LIMITED
REGISTERED NUMBER:04391509
    
BALANCE SHEET (CONTINUED)
AS AT 31 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 statement of income and retained earnings 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: 




................................................
I J Roy
Director

Date: 8 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ROY BROTHERS PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Roy Brothers Properties Limited is a members limited liability company, domiciled in England, registered number 04391509, with a registered office at Century House, 1 The Lakes, Northampton, NN4 7HD.

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 following principal accounting policies have been applied:

 
2.2

Revenue

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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

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

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
ROY BROTHERS PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Taxation

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.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

 
2.8

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.

 
2.9

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.

Page 4

 
ROY BROTHERS PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.


3.


Employees

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


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2023
15,500



At 31 March 2024

15,500



Depreciation


At 1 April 2023
15,500



At 31 March 2024

15,500



Net book value



At 31 March 2024
-



At 31 March 2023
-

Page 5

 
ROY BROTHERS PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,799,026


Disposals
(125,000)



At 31 March 2024
1,674,026

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





6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
54,967
59,800


2024
2023
£
£

Due within one year

Other debtors
187,992
237,338

Prepayments and accrued income
3,011
8,206

191,003
245,544



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
985,842
702,806


Page 6

 
ROY BROTHERS PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
384
663

Corporation tax
26,435
12,509

Other taxation and social security
14,215
9,765

Other creditors
25,331
-

Accruals and deferred income
25,000
29,092

91,365
52,029



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
-
41,811



10.


Controlling party

The company was under the control of I J Roy throughout the year. I J Roy is the managing director and
majority shareholder.


11.


Related party transactions

At 31 March 2024 Mr I J Roy a director was owed by the Company £699 (2023 - £1,588 owed to the Company). 
At 31 March 2024 Mrs M S Roy a director was owed £24,632 by the Company  (2023 - £41,811). 

 
Page 7