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REGISTERED NUMBER: 07464320 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

GOLDROSE MANAGEMENT LIMITED

GOLDROSE MANAGEMENT LIMITED (REGISTERED NUMBER: 07464320)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GOLDROSE MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Glen Coffey





REGISTERED OFFICE: Chessington Business Centre
Cox Lane
Chessington
KT9 1SD





REGISTERED NUMBER: 07464320 (England and Wales)





ACCOUNTANTS: Defries Weiss (Accountants) Limited
1 Bridge Lane
London
NW11 0EA

GOLDROSE MANAGEMENT LIMITED (REGISTERED NUMBER: 07464320)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 1,211,442 -
Investment property 6 6,925,000 5,725,000
8,136,442 5,725,000

CURRENT ASSETS
Stocks 7 3,231,532 2,858,025
Debtors 8 1,307,046 1,445,696
Cash at bank 952,805 2,370,092
5,491,383 6,673,813
CREDITORS
Amounts falling due within one year 9 8,992,189 8,056,692
NET CURRENT LIABILITIES (3,500,806 ) (1,382,879 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,635,636

4,342,121

CREDITORS
Amounts falling due after more than one year 10 (3,578,531 ) (4,578,531 )

PROVISIONS FOR LIABILITIES (474,416 ) (179,689 )
NET ASSETS/(LIABILITIES) 582,689 (416,099 )

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 11 1,750,341 864,873
Retained earnings (1,167,653 ) (1,280,973 )
SHAREHOLDERS' FUNDS 582,689 (416,099 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GOLDROSE MANAGEMENT LIMITED (REGISTERED NUMBER: 07464320)

BALANCE SHEET - continued
30 APRIL 2024


The 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.

The financial statements were approved by the director and authorised for issue on 10 September 2024 and were signed by:





Glen Coffey - Director


GOLDROSE MANAGEMENT LIMITED (REGISTERED NUMBER: 07464320)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Goldrose Management Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net sales of goods and invoiced rents receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided on a straight line basis in order to write down fixtures and fittings over their estimated useful lives of three years.

Investment property
Investment properties are accounted for in accordance with the provisions of section 16 of FRS 102. They are valued annually by the director who relies on his knowledge of local property prices, and from time to time by an independent professional valuer, on a fair value basis. The surplus or deficit on revaluation is transferred to the income statement. Deferred tax is provided on revaluation gains at the rate expected to apply when the property is sold.

Stocks
Stocks include property development stock and goods for resale. Both are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangements constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.


GOLDROSE MANAGEMENT LIMITED (REGISTERED NUMBER: 07464320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 6,504
DEPRECIATION
At 1 May 2023
and 30 April 2024 6,504
NET BOOK VALUE
At 30 April 2024 -

5. FIXED ASSET INVESTMENTS

30.4.24 30.4.23
£ £
Joint venture 1,211,442 -
1,211,442 -

On 29 June 2023, the company entered into a joint venture agreement for a residential property redevelopment. The company will take 50% of the net sale receipts, after deducting the initial investment made by the company and the other party to the joint venture.



6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 5,725,000
Additions 19,804
Revaluations 1,180,196
At 30 April 2024 6,925,000
NET BOOK VALUE
At 30 April 2024 6,925,000
At 30 April 2023 5,725,000

GOLDROSE MANAGEMENT LIMITED (REGISTERED NUMBER: 07464320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2015 405,759
Valuation in 2016 (33,202 )
Valuation in 2017 230,295
Valuation in 2018 260,812
Valuation in 2019 321,698
Valuation in 2021 (220,000 )
Valuation in 2023 100,000
Valuation in 2024 1,180,196
Cost 4,679,442
6,925,000

7. STOCKS

30.4.2430.4.23
££
Development stock2,858,0252,810,625
2,858,0252,810,625

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors - 811
Amounts owed by related parties 1,301,798 1,163,196
Other debtors 5,248 281,689
1,307,046 1,445,696

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 5,000 14,461
Amounts owed to related parties 6,687,010 5,757,046
Taxation and social security 33,856 28,765
Other creditors 2,266,323 2,256,420
8,992,189 8,056,692

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Loan repayable within five years 3,578,531 4,578,531

GOLDROSE MANAGEMENT LIMITED (REGISTERED NUMBER: 07464320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. RESERVES
Fair
value
reserve
£   
At 1 May 2023 864,873
Reallocation from profit and loss account 885,468

At 30 April 2024 1,750,341

12. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the director Glen Coffey £1,216,749 (2023: £1,175,242). No interest is charged on directors' current account balances.


13. GOING CONCERN

The financial statements have been prepared on a going concern basis which depends on the continuing support of Infoteam Group Limited. The directors believe that this support will not be withdrawn in the foreseeable future and therefore the going concern basis is reasonable.