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REGISTERED NUMBER: 01972606 (England and Wales)












ROXAN CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






ROXAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01972606)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROXAN CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: M Yeganegy
Ms D A Yeganegy
Ms L Yeganegy
P J Cousins
Dr R Robinson
B Yeganegy





REGISTERED OFFICE: 142 Lodge Road
Southampton
Hampshire
SO14 6QR





REGISTERED NUMBER: 01972606 (England and Wales)

ROXAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01972606)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 28,145 33,540

CURRENT ASSETS
Stocks 2,719,514 1,468,060
Debtors 5 67,038 752
Cash at bank 645 -
2,787,197 1,468,812
CREDITORS
Amounts falling due within one year 6 (2,602,635 ) (1,281,395 )
NET CURRENT ASSETS 184,562 187,417
TOTAL ASSETS LESS CURRENT
LIABILITIES

212,707

220,957

CREDITORS
Amounts falling due after more than one
year

7

-

(8,250

)
NET ASSETS 212,707 212,707

CAPITAL AND RESERVES
Called up share capital 42,707 42,707
Capital redemption reserve 70,000 70,000
Retained earnings 100,000 100,000
SHAREHOLDERS' FUNDS 212,707 212,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ROXAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01972606)

BALANCE SHEET - continued
31 JANUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 July 2024 and were signed on its behalf by:





M Yeganegy - Director


ROXAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01972606)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Roxan Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain investment property at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover is stated net of value added tax and represents work done, sales of development properties to related parties and gross rental income receivable.

Income is recognised on completion of sales of land or developed properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% Reducing balance

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 recognised in the income statement.

Hire Purchase
Where assets are financed by leasing agreements that give rights approximating to the ownership (finance lease), the assets are treated as if they had been purchased outright. The corresponding leasing commitments are shown as amounts payable to the lessor in the balance sheet. Depreciation on the relevant asset is charged to the profit and loss account over the shorter of the estimated useful life and the period of the lease.

Stocks
Stocks and developments in the course of construction are valued at the lower of cost and net realisable value less foreseeable losses. Cost includes material and direct labour costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates 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 balance sheet date.


ROXAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01972606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Cash and cash equivalents
Cash and cash equivalents are basic instruments and include cash in hand and deposits held at call with banks.

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

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

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

ROXAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01972606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS
Motor
vehicles
£
COST
At 1 February 2023 61,282
Additions 3,500
At 31 January 2024 64,782
DEPRECIATION
At 1 February 2023 27,742
Charge for year 8,895
At 31 January 2024 36,637
NET BOOK VALUE
At 31 January 2024 28,145
At 31 January 2023 33,540

The Net Book Value (NBV) of assets held under Hire Purchase totals £15,349 (2023: £20,465). Depreciation on assets held under Hire Purchase totalled £5,116 (2023: £435) in the year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 67,038 752

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 450,000 19,786
Hire purchase contracts (see note 8) 8,294 9,003
Trade creditors 206,429 133,976
Amounts owed to group undertakings 1,857,592 996,614
Taxation and social security 4,829 17,323
Other creditors 75,491 104,693
2,602,635 1,281,395

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Hire purchase contracts (see note 8) - 8,250

ROXAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01972606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 8,294 9,003
Between one and five years - 8,250
8,294 17,253

Non-cancellable
operating leases
2024 2023
£ £
Within one year 6,371 -
Between one and five years 21,341 -
27,712 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 8,294 17,253

The hire purchase liabilities are secured against the assets to which they relate.