3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 480,000 10,000 490,000 490,000 480,000 xbrli:pure xbrli:shares iso4217:GBP 03145240 2023-05-01 2024-04-30 03145240 2024-04-30 03145240 2023-04-30 03145240 2022-05-01 2023-04-30 03145240 2023-04-30 03145240 2022-04-30 03145240 core:PlantMachinery 2023-05-01 2024-04-30 03145240 core:MotorVehicles 2023-05-01 2024-04-30 03145240 bus:Director1 2023-05-01 2024-04-30 03145240 core:PlantMachinery 2023-04-30 03145240 core:MotorVehicles 2023-04-30 03145240 core:PlantMachinery 2024-04-30 03145240 core:MotorVehicles 2024-04-30 03145240 core:AfterOneYear 2024-04-30 03145240 core:AfterOneYear 2023-04-30 03145240 core:WithinOneYear 2024-04-30 03145240 core:WithinOneYear 2023-04-30 03145240 core:ShareCapital 2024-04-30 03145240 core:ShareCapital 2023-04-30 03145240 core:RetainedEarningsAccumulatedLosses 2024-04-30 03145240 core:RetainedEarningsAccumulatedLosses 2023-04-30 03145240 core:CostValuation core:Non-currentFinancialInstruments 2023-04-30 03145240 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-04-30 03145240 core:CostValuation core:Non-currentFinancialInstruments 2024-04-30 03145240 core:Non-currentFinancialInstruments 2024-04-30 03145240 core:Non-currentFinancialInstruments 2023-04-30 03145240 core:PlantMachinery 2023-04-30 03145240 core:MotorVehicles 2023-04-30 03145240 bus:SmallEntities 2023-05-01 2024-04-30 03145240 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03145240 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03145240 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03145240 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 03145240
ROCHFORD HOMES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 April 2024
ROCHFORD HOMES LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
9,610
18,905
Investments
6
490,000
480,000
----------
----------
499,610
498,905
Current assets
Debtors
7
42,231
36,595
Cash at bank and in hand
25,031
17,144
---------
---------
67,262
53,739
Creditors: amounts falling due within one year
8
( 34,180)
( 38,776)
---------
---------
Net current assets
33,082
14,963
----------
----------
Total assets less current liabilities
532,692
513,868
Creditors: amounts falling due after more than one year
9
( 30,000)
( 20,000)
Provisions
Taxation including deferred tax
( 36,580)
( 31,313)
----------
----------
Net assets
466,112
462,555
----------
----------
ROCHFORD HOMES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
2,000
2,000
Profit and loss account
464,112
460,555
----------
----------
Shareholders funds
466,112
462,555
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 September 2024 , and are signed on behalf of the board by:
P W Burrows
Director
Company registration number: 03145240
ROCHFORD HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lindpet House, Market Place, Grantham, Lincs, NG31 6LJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. - Significant judgements No judgements have been made which would have a significant effect on the amounts recognised in the financial statements. - Key sources of estimation uncertainty In order to comply with the requirements of FRS 102, the Directors have estimated the fair value of the company's investment in the Crown Walk Partnership. The deferred tax liability is estimated on the interest in the partnership based on the directors revaluation.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Motor vehicles
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost and subsequently are revalued to their fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 May 2023 and 30 April 2024
4,283
32,890
37,173
-------
---------
---------
Depreciation
At 1 May 2023
1,823
16,445
18,268
Charge for the year
1,072
8,223
9,295
-------
---------
---------
At 30 April 2024
2,895
24,668
27,563
-------
---------
---------
Carrying amount
At 30 April 2024
1,388
8,222
9,610
-------
---------
---------
At 30 April 2023
2,460
16,445
18,905
-------
---------
---------
6. Investments
Other investments other than loans
£
Cost
At 1 May 2023
480,000
Revaluations
10,000
----------
At 30 April 2024
490,000
----------
Impairment
At 1 May 2023 and 30 April 2024
----------
Carrying amount
At 30 April 2024
490,000
----------
At 30 April 2023
480,000
----------
7. Debtors
2024
2023
£
£
Trade debtors
24,028
25,254
Other debtors
18,203
11,341
---------
---------
42,231
36,595
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
602
277
Corporation tax
22,689
16,615
Social security and other taxes
8,028
8,315
Loans from the Burrows Family Trust
10,000
Credit card
361
879
Other creditors
2,500
2,690
---------
---------
34,180
38,776
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
30,000
20,000
---------
---------
10. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
490,000
480,000
----------
----------
11. Directors' advances, credits and guarantees
At the beginning of the year the directors' owed the company £1,614. This was increased by a net figure of £7,047 during the year leaving an outstanding balance of £8,661 at the year end. There is no set repayment date. During the year no interest was charged on the outstanding balance (2023 - £199).