REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
ROSNET LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
ROSNET LIMITED |
ROSNET LIMITED (REGISTERED NUMBER: 01742973) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 5 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ROSNET LIMITED |
COMPANY INFORMATION |
For The Year Ended 5 April 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Business Advisors & Accountants |
5&6 Manor Court |
Manor Garth |
Scarborough |
North Yorkshire |
YO11 3TU |
ROSNET LIMITED (REGISTERED NUMBER: 01742973) |
BALANCE SHEET |
5 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium | 11 |
Capital redemption reserve | 11 |
Fair value reserve | 11 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
ROSNET LIMITED (REGISTERED NUMBER: 01742973) |
BALANCE SHEET - continued |
5 April 2024 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ROSNET LIMITED (REGISTERED NUMBER: 01742973) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 5 April 2024 |
1. | STATUTORY INFORMATION |
Rosnet Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents income from letting properties and recharged expenses. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Investment property |
Investment properties are properties held to earn rentals or for capital appreciation or both. |
Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise. Deferred taxation is provided on these gains. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
ROSNET LIMITED (REGISTERED NUMBER: 01742973) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 5 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Investments |
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment. |
Investment property |
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 6 April 2023 |
and 5 April 2024 |
DEPRECIATION |
At 6 April 2023 |
Charge for year |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6 April 2023 |
and 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
ROSNET LIMITED (REGISTERED NUMBER: 01742973) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 5 April 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 5 April 2024 is represented by: |
£ |
Valuation in 2003 | 287,801 |
Valuation in 2004 | 477,500 |
Valuation in 2007 | 604,359 |
Valuation in 2010 | (299,029 | ) |
Valuation in 2016 | 4,002 |
Cost | 781,367 |
1,856,000 |
If the investment properties had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 781,367 | 781,367 |
The investment properties were valued on an open market basis on 5 April 2024 by the directors . |
The completed investment property is stated at fair value in accordance with the requirements of Section 1A ''Small Entities'' of Financial Reporting Standard FRS 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland''.. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | CURRENT ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Investment in shares |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
9. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 111,171 | 111,197 |
ROSNET LIMITED (REGISTERED NUMBER: 01742973) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 5 April 2024 |
9. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 6 April 2023 |
Accelerated capital allowances | (26 | ) |
Balance at 5 April 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 122,262 | 122,262 |
11. | RESERVES |
Capital | Fair |
Retained | Share | redemption | value |
earnings | premium | reserve | reserve | Totals |
£ | £ | £ | £ | £ |
At 6 April 2023 | 1,723,074 |
Deficit for the year | ( |
) | - | - | - | ( |
) |
Dividends | ( |
) | - | - | - | ( |
) |
At 5 April 2024 | 1,707,373 |