Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2falsetrueNo description of principal activity2true 03173253 2023-03-31 03173253 2023-04-01 2024-03-31 03173253 2022-04-01 2023-03-31 03173253 2024-03-31 03173253 c:CompanySecretary1 2023-04-01 2024-03-31 03173253 c:Director1 2023-04-01 2024-03-31 03173253 c:Director2 2023-04-01 2024-03-31 03173253 c:RegisteredOffice 2023-04-01 2024-03-31 03173253 d:FreeholdInvestmentProperty 2024-03-31 03173253 d:FreeholdInvestmentProperty 2023-03-31 03173253 d:CurrentFinancialInstruments 2024-03-31 03173253 d:CurrentFinancialInstruments 2023-03-31 03173253 c:FRS102 2023-04-01 2024-03-31 03173253 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03173253 c:FullAccounts 2023-04-01 2024-03-31 03173253 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 03173253







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


PHILIP ROSE LIMITED






































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PHILIP ROSE LIMITED
 


 
COMPANY INFORMATION


Directors
J N Day 
S C L Day 




Company secretary
Sandringham Company Secretaries Limited



Registered number
03173253



Registered office
3000a Parkway

Whiteley

Hampshire

PO15 7FX




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


PHILIP ROSE LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 5


 


PHILIP ROSE LIMITED
REGISTERED NUMBER:03173253



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

  

Fixed assets
  

Investment property
 4 
1,189,703
1,189,703

  
1,189,703
1,189,703

Current assets
  

Debtors: amounts falling due within one year
 5 
4,426
987

Cash at bank and in hand
  
31,197
17,921

  
35,623
18,908

Creditors: amounts falling due within one year
 6 
(313,102)
(36,800)

Net current liabilities
  
 
 
(277,479)
 
 
(17,892)

Total assets less current liabilities
  
912,224
1,171,811

  

  

  

Net assets
  
912,224
1,171,811

Page 1

 


PHILIP ROSE LIMITED
REGISTERED NUMBER:03173253


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
£
£

Capital and reserves
  

Called up share capital 
  
6,600
6,600

Profit and loss account
  
905,624
1,165,211

  
912,224
1,171,811


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.

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 income and retained earnings 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 by: 






J N Day
Director

Date: 20 September 2024


The notes on pages 3 to 5 form part of these financial statements.

Page 2

 


PHILIP ROSE LIMITED
 


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

1.


General information

Philip Rose Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.  The address of the company's principal place of business is Ballamona, Bay View Road, Port St Mary, Isle of Man, IM9 5AJ.
The Company's functional and presentational currency is GBP and is rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.  

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

Taxation

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 reporting date in the countries where the Company operates and generates income.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the Directors 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. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

Page 3

 


PHILIP ROSE LIMITED
 


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

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,189,703



At 31 March 2024
1,189,703

The 2024 valuations were made by the directors, on an open market value for existing use basis.




Page 4

 


PHILIP ROSE LIMITED
 


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

5.


Debtors

2024
2023
£
£


Prepayments and accrued income
4,426
987

4,426
987



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
20,080
11,219

Other creditors
264,000
-

Accruals and deferred income
29,022
25,581

313,102
36,800



7.


Controlling party

The ultimate parent company is Hamersley Limited, a company registered in the Isle of Man. Hamersley Limited's Registered office address is First Floor, Jubilee Buildings, Victoria Street, Douglas, Isle of Man, IM1 2SH.
The ultimate controlling party is Mrs C S Day.

Page 5