Registered number
07630878
Roche Property Enterprises Ltd
Filleted Accounts
30 September 2024
Roche Property Enterprises Ltd
Registered number: 07630878
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 994,415 978,187
Current assets
Debtors 4 130,570 131,302
Cash at bank and in hand 1,404 2,233
131,974 133,535
Creditors: amounts falling due within one year 5 (201,197) (199,872)
Net current liabilities (69,223) (66,337)
Total assets less current liabilities 925,192 911,850
Creditors: amounts falling due after more than one year 6 (661,803) (661,429)
Provisions for liabilities (49,375) (46,257)
Net assets 214,014 204,164
Capital and reserves
Called up share capital 1 1
Revaluation reserve 8 210,496 197,199
Profit and loss account 3,517 6,964
Shareholder's funds 214,014 204,164
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Pierre Roche
Director
Approved by the board on 18 October 2024
Roche Property Enterprises Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 978,000 22,344 1,000,344
Surplus on revaluation 16,415 - 16,415
At 30 September 2024 994,415 22,344 1,016,759
Depreciation
At 1 October 2023 - 22,157 22,157
Charge for the year - 187 187
At 30 September 2024 - 22,344 22,344
Net book value
At 30 September 2024 994,415 - 994,415
At 30 September 2023 978,000 187 978,187
Freehold land and buildings: 2024 2023
£ £
Historical cost 734,544 734,544
Cumulative depreciation based on historical cost - -
734,544 734,544
4 Debtors 2024 2023
£ £
Trade debtors 13,665 10,227
Other debtors 116,905 121,075
130,570 131,302
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,000 4,000
Other creditors 197,197 195,872
201,197 199,872
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 661,803 661,429
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 665,803 665,429
8 fixed and floating charges registered by Paragon Bank PLC, The Mortgage Works (UK) PLC, Onesavings Bank PLC and Lloyds Bank PLC over the assets of the company.
8 Revaluation reserve 2024 2023
£ £
At 1 October 2023 197,199 158,319
Gain on revaluation of land and buildings 16,415 48,000
Deferred taxation arising on the revaluation of land and buildings (3,118) (9,120)
At 30 September 2024 210,496 197,199
9 Related party transactions
During the year the loan to Audentia Holdings Ltd reduced by £3,800 (2023 the loan reduced by £6,000). The amount outstanding at the year end was £116,710 (2023 £120,510).
10 Controlling party
The director P Roche holds 100% of the issued share capital and is deemed the ultimate controlling party.
11 Other information
Roche Property Enterprises Ltd is a private company limited by shares and incorporated in England. Its registered office is:
15 Joiners Lane
Chalfont St. Peter
Gerrards Cross
SL9 0AB
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