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Company No: 11134208 (England and Wales)

ROOKERY MANOR LIMITED

Unaudited Financial Statements
For the financial year ended 30 December 2023
Pages for filing with the registrar

ROOKERY MANOR LIMITED

Unaudited Financial Statements

For the financial year ended 30 December 2023

Contents

ROOKERY MANOR LIMITED

BALANCE SHEET

As at 30 December 2023
ROOKERY MANOR LIMITED

BALANCE SHEET (continued)

As at 30 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 76,915 51,594
76,915 51,594
Current assets
Stocks 500 500
Debtors 4 44,216 162,311
Cash at bank and in hand 30 885
44,746 163,696
Creditors: amounts falling due within one year 5 ( 234,524) ( 225,434)
Net current liabilities (189,778) (61,738)
Total assets less current liabilities (112,863) (10,144)
Creditors: amounts falling due after more than one year 6 ( 111,621) ( 30,833)
Net liabilities ( 224,484) ( 40,977)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 224,584 ) ( 41,077 )
Total shareholder's deficit ( 224,484) ( 40,977)

For the financial year ending 30 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Rookery Manor Limited (registered number: 11134208) were approved and authorised for issue by the Director on 24 September 2024. They were signed on its behalf by:

I J Clapp
Director
ROOKERY MANOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 December 2023
ROOKERY MANOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 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

Rookery Manor 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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £224,484. The Company is supported through loans from the external lenders. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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 and letting income in respect of residential accommodation. 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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either other debtors or other creditors in the Balance Sheet.

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. Tax is recognised in the profit and loss account, 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 4 years straight line
Fixtures and fittings 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other 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.

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.

Loans and 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 12 10

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 31 December 2022 60,478 133,756 36,114 29,130 259,478
Additions 32,379 4,950 0 0 37,329
At 30 December 2023 92,857 138,706 36,114 29,130 296,807
Accumulated depreciation
At 31 December 2022 19,354 123,286 36,114 29,130 207,884
Charge for the financial year 8,271 3,737 0 0 12,008
At 30 December 2023 27,625 127,023 36,114 29,130 219,892
Net book value
At 30 December 2023 65,232 11,683 0 0 76,915
At 30 December 2022 41,124 10,470 0 0 51,594

4. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 7,104 142,728
Corporation tax 22,672 0
Other debtors 14,440 19,583
44,216 162,311

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 23,003 15,535
Trade creditors 25,162 27,793
Other loans (secured £ 20,000) 90,039 0
Accruals 8,813 9,614
Taxation and social security 84,015 97,466
Other creditors 3,492 75,026
234,524 225,434

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 20,833 30,833
Other loans (secured £ 71,667) 90,788 0
111,621 30,833

Included within other loans are loans from commercial lenders which are secured by a floating charge over company assets and assets owned personally by the director.

7. Related party transactions

Other related party transactions

The company has given a guarantee to Shire Leasing Plc in relation to loans taken out by Rookery Manor Lodges Limited to the value of £91,667.
The company has given a guarantee to Shire Leasing Plc in relation to loans taken out by IKC Assets Limited to the value of £93,333.