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REGISTERED NUMBER: SC562716 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

ROSWELL PM LTD

ROSWELL PM LTD (REGISTERED NUMBER: SC562716)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROSWELL PM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: J R Craig





REGISTERED OFFICE: Prism House
Scottish Enterprise Technology Park
East Kilbride
G75 0QF





REGISTERED NUMBER: SC562716 (Scotland)





ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG

ROSWELL PM LTD (REGISTERED NUMBER: SC562716)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,531,000 1,471,964
1,531,000 1,471,964

CURRENT ASSETS
Debtors 6 2,015 4,296
Cash at bank 42,030 130,864
44,045 135,160
CREDITORS
Amounts falling due within one year 7 7,269 9,521
NET CURRENT ASSETS 36,776 125,639
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,567,776

1,597,603

CREDITORS
Amounts falling due after more than one
year

8

(1,349,816

)

(1,468,899

)

PROVISIONS FOR LIABILITIES (45,787 ) (26,299 )
NET ASSETS 172,173 102,405

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 140,383 81,347
Retained earnings 31,690 20,958
172,173 102,405

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

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

The director acknowledges his 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.

ROSWELL PM LTD (REGISTERED NUMBER: SC562716)

BALANCE SHEET - continued
31 MAY 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 October 2024 and were signed by:





J R Craig - Director


ROSWELL PM LTD (REGISTERED NUMBER: SC562716)

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

1. STATUTORY INFORMATION

Roswell PM Ltd is a private company, limited by shares , registered in Scotland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

ROSWELL PM LTD (REGISTERED NUMBER: SC562716)

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

2. ACCOUNTING POLICIES - continued

Basic financial instruments
Trade debtors
Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors
Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Cash
Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant &
machinery
£   
COST OR VALUATION
Revaluations (49,906 )
Reclassification/transfer 49,906
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -

Cost or valuation at 31 May 2024 is represented by:

Plant &
machinery
£   
Valuation in 2023 (49,906 )
Cost 49,906

ROSWELL PM LTD (REGISTERED NUMBER: SC562716)

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

4. TANGIBLE FIXED ASSETS - continued

If plant and machinery had not been revalued 2024 would have been included at the following historical cost:

31.5.24 31.5.23
£    £   
Cost 49,906 -

Plant and machinery were valued on fair basis on 31 May 2024 by Director JR Craig .

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 June 2023 1,471,964
Revaluations 59,036
At 31 May 2024 1,531,000
NET BOOK VALUE
At 31 May 2024 1,531,000
At 31 May 2023 1,471,964

Cost or valuation at 31 May 2024 is represented by:
£   
Valuation in 2019 9,829
Valuation in 2020 17,013
Valuation in 2021 (3,585 )
Valuation in 2022 58,090
Valuation in 2023 49,906
Valuation in 2024 59,036
Cost 1,340,711
1,531,000

If the properties had not been revalued 2024 would have been included at the following historical cost:

31.5.24 31.5.23
£    £   
Cost 1,340,711 1,340,711

The properties were valued on a fair value basis on 31 May 2024 by Director JR Craig .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 25 833
Directors' loan accounts 1,990 3,463
2,015 4,296

ROSWELL PM LTD (REGISTERED NUMBER: SC562716)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Taxation and social security 7,025 5,729
Other creditors 244 3,792
7,269 9,521

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Other creditors 1,349,816 1,468,899

Amounts falling due in more than five years:

Repayable by instalments
Mortgage 710,590 808,656

9. SECURED DEBTS

Charter Court Finanical Services Limited holds a charge over the following properties, 2/3 80 Barrland Street Glasgow, 4/5 1 Barrland Court Glasgow, 2/3 356 Pollockshaws Road Glasgow, 3/1 19 Barrland Street Glasgow,33 Sweet Thorn Drive East Kilbride,1 Falkland Park East Kilbride, 26 Sweet Thorn Drive East Kilbride and 3/3 80 Barrland Street Glasgow.

10. RESERVES
Fair
value
reserve
£   
At 1 June 2023 81,347
Fair value investment property 59,036

At 31 May 2024 140,383

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
J R Craig
Balance outstanding at start of year (3,463 ) 29,719
Amounts advanced - 3,300
Amounts repaid 1,473 (36,482 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,990 ) (3,463 )

Loans from director are interest free and repayable upon demand.