Roberts Property Ltd 10075629 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property rental Digita Accounts Production Advanced 6.30.9574.0 true true 10075629 2023-04-01 2024-03-31 10075629 2024-03-31 10075629 bus:OrdinaryShareClass1 2024-03-31 10075629 core:CurrentFinancialInstruments 2024-03-31 10075629 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10075629 core:Non-currentFinancialInstruments 2024-03-31 10075629 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 10075629 bus:SmallEntities 2023-04-01 2024-03-31 10075629 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10075629 bus:FilletedAccounts 2023-04-01 2024-03-31 10075629 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10075629 bus:RegisteredOffice 2023-04-01 2024-03-31 10075629 bus:CompanySecretaryDirector2 2023-04-01 2024-03-31 10075629 bus:Director1 2023-04-01 2024-03-31 10075629 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10075629 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10075629 countries:England 2023-04-01 2024-03-31 10075629 2023-03-31 10075629 2022-04-01 2023-03-31 10075629 2023-03-31 10075629 bus:OrdinaryShareClass1 2023-03-31 10075629 core:CurrentFinancialInstruments 2023-03-31 10075629 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10075629 core:Non-currentFinancialInstruments 2023-03-31 10075629 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10075629

Roberts Property Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Roberts Property Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Roberts Property Ltd

Company Information

Directors

Mr F J Roberts

Mrs A C Roberts

Company secretary

Mrs A C Roberts

Registered office

7 Moorside Avenue
Parkgate
Neston
Cheshire
CH64 6QS

Accountants

Phillip Bates and Co Limited
Chartered Accountants
1 - 3 Chester Road
Neston
Cheshire
CH64 9PA

 

Roberts Property Ltd

(Registration number: 10075629)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,640,000

1,512,000

Current assets

 

Debtors

5

-

250

Cash at bank and in hand

 

4,681

1,584

 

4,681

1,834

Creditors: Amounts falling due within one year

6

(431,097)

(357,621)

Net current liabilities

 

(426,416)

(355,787)

Total assets less current liabilities

 

1,213,584

1,156,213

Creditors: Amounts falling due after more than one year

6

(1,079,593)

(1,037,489)

Provisions for liabilities

(80,933)

(66,433)

Net assets

 

53,058

52,291

Capital and reserves

 

Called up share capital

7

100

100

Other reserves

242,438

198,938

Retained earnings

(189,480)

(146,747)

Shareholders' funds

 

53,058

52,291

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 July 2024 and signed on its behalf by:
 

 

Roberts Property Ltd

(Registration number: 10075629)
Balance Sheet as at 31 March 2024

.........................................
Mr F J Roberts
Director

 

Roberts Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
7 Moorside Avenue
Parkgate
Neston
Cheshire
CH64 6QS
United Kingdom

These financial statements were authorised for issue by the Board on 23 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Roberts Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Roberts Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Roberts Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Investment properties

2024
£

At 1 April 2023

1,512,000

Additions

70,000

Fair value adjustments

58,000

At 31 March 2024

1,640,000

The property has been internally valued by Mr F Roberts, a director of the company, based on his experience of the property market.

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

5

Debtors

Current

2024
£

2023
£

Other debtors

-

250

 

-

250

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

272,159

215,461

Trade creditors

 

(1)

(1)

Taxation and social security

 

424

543

Accruals and deferred income

 

2,000

1,680

Other creditors

 

156,515

139,938

 

431,097

357,621

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

1,079,593

1,037,489

Creditors include bank loans which are secured of £1,079,593 (2023 - £1,037,489).

Creditors include bank loans not repayable by instalments of £1,079,593 (2023 - £1,037,589) due after more than five years.

 

Roberts Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,079,593

1,037,489

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,400

3,400

Other borrowings

268,759

212,061

272,159

215,461