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Registered number: 14960380
Rosegold International Properties Ltd
Unaudited Financial Statements
For the Period 26 June 2023 to 31 March 2024
Goldwyns London LLP
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 14960380
31 March 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 692
Investment Properties 5 802,620
803,312
CURRENT ASSETS
Debtors 6 1,222
Cash at bank and in hand 2,533
3,755
Creditors: Amounts Falling Due Within One Year 7 (180,399 )
NET CURRENT ASSETS (LIABILITIES) (176,644 )
TOTAL ASSETS LESS CURRENT LIABILITIES 626,668
Creditors: Amounts Falling Due After More Than One Year 8 (641,395 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (173 )
NET LIABILITIES (14,900 )
CAPITAL AND RESERVES
Called up share capital 10 100
Income Statement (15,000 )
SHAREHOLDERS' FUNDS (14,900)
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For the period ending 31 March 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mrs R Adib
Director
17/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Rosegold International Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14960380 . The registered office is C/O Goldwyns London LLP, No.1 Royal Exchange, London, EC3V 3DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
These financial statements for the period ended 31 March 2024 are the first financial statements of Rosegold International Properties Limited prepared in accordance with FRS 102 (Section 1A), The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of adoption to FRS 102 (Section 1A) was 26 June 2023.
The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2. Going Concern Disclosure
The directors have considered the prospect of the business for the next twelve months and beyond and have arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The directors have also pledged their financial support to assist with this if required. On this basis, the directors will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% Reducing Balance
2.5. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the income statement.
2.6. Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it related 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 statement of financial position date.
Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2.7. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
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2.8. 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 current liabilities.
2.9. Critical Accounting Judgements And Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure :
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 26 June 2023 -
Additions 814
As at 31 March 2024 814
Depreciation
As at 26 June 2023 -
Provided during the period 122
As at 31 March 2024 122
Net Book Value
As at 31 March 2024 692
As at 26 June 2023 -
5. Investment Property
31 March 2024
£
Fair Value
As at 26 June 2023 -
Additions 802,620
As at 31 March 2024 802,620
6. Debtors
31 March 2024
£
Due within one year
Prepayments and accrued income 1,222
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7. Creditors: Amounts Falling Due Within One Year
31 March 2024
£
Accruals and deferred income 2,999
Directors' loan accounts 170,600
Amounts owed to connected undertakings 6,800
180,399
8. Creditors: Amounts Falling Due After More Than One Year
31 March 2024
£
Bank loans 251,495
Amounts owed to parent undertakings 389,900
641,395
9. Deferred Taxation
The provision for deferred tax is made up as follows:
31 March 2024
£
Other timing differences 173
10. Share Capital
31 March 2024
£
Allotted, Called up and fully paid 100
During the period, the company issued 100 Ordinary shares for the nominal value of £1 per share. As at 31 March 2024 there are 100 Ordinary shares in issue.
11. Related Party Transactions
As at the period-end, the company owed Rosegold International Holdings Ltd, the companys' sole parent, £389,900. This amount is a long-term liability, interest free and repayable on demand.
As at the period-end, the company owed Skinhorizon Limited, a company related via common control and directorship, £6,800. This amount is a current liability, interest free and repayable on demand.
As at the period-end, the directors' loan account balance of Mrs R Adib is £170,600. This amount is a current liability, interest free and repayable on demand 
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