Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312024-05-2842023-01-01falseNo description of principal activity4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10520094 2023-01-01 2023-12-31 10520094 2022-01-01 2022-12-31 10520094 2023-12-31 10520094 2022-12-31 10520094 c:Director4 2023-01-01 2023-12-31 10520094 d:Buildings 2023-01-01 2023-12-31 10520094 d:Buildings 2023-12-31 10520094 d:Buildings 2022-12-31 10520094 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10520094 d:LandBuildings 2023-12-31 10520094 d:LandBuildings 2022-12-31 10520094 d:FurnitureFittings 2023-01-01 2023-12-31 10520094 d:FurnitureFittings 2023-12-31 10520094 d:FurnitureFittings 2022-12-31 10520094 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10520094 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 10520094 d:OtherPropertyPlantEquipment 2023-12-31 10520094 d:OtherPropertyPlantEquipment 2022-12-31 10520094 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10520094 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10520094 d:CurrentFinancialInstruments 2023-12-31 10520094 d:CurrentFinancialInstruments 2022-12-31 10520094 d:Non-currentFinancialInstruments 2023-12-31 10520094 d:Non-currentFinancialInstruments 2022-12-31 10520094 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10520094 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10520094 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10520094 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10520094 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 10520094 d:ShareCapital 2023-12-31 10520094 d:ShareCapital 2022-12-31 10520094 d:RevaluationReserve 2023-12-31 10520094 d:RevaluationReserve 2022-12-31 10520094 d:RetainedEarningsAccumulatedLosses 2023-12-31 10520094 d:RetainedEarningsAccumulatedLosses 2022-12-31 10520094 c:FRS102 2023-01-01 2023-12-31 10520094 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10520094 c:FullAccounts 2023-01-01 2023-12-31 10520094 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10520094 d:OtherDeferredTax 2023-12-31 10520094 d:OtherDeferredTax 2022-12-31 10520094 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 10520094






ROCK HOUSE ASSOCIATES LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
ROCK HOUSE ASSOCIATES LIMITED
REGISTERED NUMBER: 10520094

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,146,227
2,142,375

  
2,146,227
2,142,375

Current assets
  

Debtors: amounts falling due within one year
 5 
23,563
23,075

Cash at bank and in hand
  
1,013
17,879

  
24,576
40,954

Creditors: amounts falling due within one year
 6 
(249,559)
(260,443)

Net current liabilities
  
 
 
(224,983)
 
 
(219,489)

Total assets less current liabilities
  
1,921,244
1,922,886

Creditors: amounts falling due after more than one year
 7 
(1,650,000)
(1,660,000)

Provisions for liabilities
  

Deferred tax
 9 
(60,150)
(60,150)

  
 
 
(60,150)
 
 
(60,150)

Net assets
  
211,094
202,736


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Non distributable reserve
  
256,429
256,429

Profit and loss account
  
(46,335)
(54,693)

  
211,094
202,736


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.




 
Page 1

 
ROCK HOUSE ASSOCIATES LIMITED
REGISTERED NUMBER: 10520094
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


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 comprehensive income 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 on 28 May 2024.




SLF Johnston
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
ROCK HOUSE ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Rock House Associates Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 30 Orange Street, London, WC2H 7HF.
The financial statements are presented in Sterling, which is the functional currency of the company.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ROCK HOUSE ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
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
-
20%
straight line
Computer equipment
-
33%
straight line

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.

Page 4

 
ROCK HOUSE ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.7

Investment properties

Investment property is carried at fair value determined annually by the directors, taking into account 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.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Page 5

 
ROCK HOUSE ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 6

 
ROCK HOUSE ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Investment property
Fixtures and fittings
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 January 2023
2,136,631
155,809
-
2,292,440


Additions
1,308
4,611
1,384
7,303



At 31 December 2023

2,137,939
160,420
1,384
2,299,743



Depreciation


At 1 January 2023
-
150,065
-
150,065


Charge for the year on owned assets
-
2,990
461
3,451



At 31 December 2023

-
153,055
461
153,516



Net book value



At 31 December 2023
2,137,939
7,365
923
2,146,227



At 31 December 2022
2,136,631
5,744
-
2,142,375

The fair value of the investment property was determined by the director on the basis of recent transactions of similar properties in the local area.




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
2,137,939
2,136,631

2,137,939
2,136,631


Page 7

 
ROCK HOUSE ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
10,593
12,669

Amounts owed by connected companies
3,412
2,342

Other debtors
9,558
8,064

23,563
23,075



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,664
4,750

Amounts owed to group undertakings
211,904
244,642

Amounts owed to connected companies
21,970
2,690

Corporation tax
446
-

Other taxation and social security
8,943
5,063

Other creditors
1,632
648

Accruals and deferred income
2,000
2,650

249,559
260,443



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
900,000
900,000

Other creditors
750,000
760,000

1,650,000
1,660,000


Page 8

 
ROCK HOUSE ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Loans


2023
£



Amounts falling due 2-5 years

Bank loans
900,000


900,000


900,000



9.


Deferred taxation




2023


£






At beginning of year
(60,150)



At end of year
(60,150)

2023
2022
£
£


Fair value adjustment
(60,150)
(60,150)

(60,150)
(60,150)

Page 9

 
ROCK HOUSE ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Related party transactions

As at 31 December 2023 £750,000 (2022: £760,000) was owed to IA Godden and D Godden, who are both company directors, in respect of an interest free loan to facilitate the purchase of a property.
In the 2017 the parent company Godden Associates Limited gave an interest free loan of £197,910 to the company to enable the purchase of a property. As at 31 December 2023 £211,904 (2022: £244,642) was still owed to the parent company.
As at 31 December 2023 £nil (2022: £2,342) was owed to the company from ECN Castle Rock Limited, a company in which IA Godden, a company director, is the sole director and shareholder.
As at 31 December 2023 the company was owed £3,412 (2022: £2,690 owed by the company) to Seonaid Johnston Interiors Limited, a company in which N Johnston and S Johnston are both company directors.
As at 31 December 2023 the company was owed £21,970 (2022: £nil) to Amore property Management  Limited, a company in which N Johnston and S Johnston are both company directors.
 


11.


Controlling party

The company's ultimate controlling company is Godden Associates Limited (company number 02732083) which is incorporated in the United Kingdom.
The company and the Group qualify as small as set out in section 383 of the Companies Act 2006 and are considered eligible for the exemption to prepare consolidated accounts.
 
Page 10