REGISTERED NUMBER: |
Roberts Estates Limited |
Financial Statements |
for the Year Ended 31 March 2024 |
REGISTERED NUMBER: |
Roberts Estates Limited |
Financial Statements |
for the Year Ended 31 March 2024 |
Roberts Estates Limited (Registered number: 08662522) |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Roberts Estates Limited |
Company Information |
for the year ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
Irish Square |
Upper Denbigh Road |
St Asaph |
Denbighshire |
LL17 0RN |
Roberts Estates Limited (Registered number: 08662522) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Revaluation reserve | 8 |
Retained earnings | ( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Roberts Estates Limited (Registered number: 08662522) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Roberts Estates Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
The valuations of investment properties as at 30 June 2015 were made by Jones Lang LaSalle, Chartered Surveyors, on an open market basis. They were transferred to Roberts Estates Limited on this date as part of the asset purchase agreement and therefore this is the original cost basis for Roberts Estates Limited. No depreciation is provided in respect of these properties. The investment properties have been valued by the directors at 31 March 2023 on the basis of open market value. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Roberts Estates Limited (Registered number: 08662522) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Disposals | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2022 | 2,820,442 |
Valuation in 2023 | (1,061,100 | ) |
Valuation in 2024 | (1,101,400 | ) |
657,942 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Roberts Estates Limited (Registered number: 08662522) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
8. | RESERVES |
Share premium |
Consideration received for shares issued above their nominal value net of transaction costs on the transfer of Roberts Estates partnership assets and liabilities to Roberts Estates Limited. |
Profit and loss reserves |
Cumulative profit and loss net of distributions to owners. |
Other reserves |
The cumulative revaluation gains and losses in respect of investment properties. |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | RELATED PARTY DISCLOSURES |
Robert Homes (North Wales) Ltd |
A company controlled by Mr I Roberts & Mrs S Roberts. During the year the amount due by Robert Homes (North Wales) Ltd of £1,996,430 was fully written off. |
11. | PARENT COMPANY |
The company's ultimate parent company is Wepre Holdings Limited which is the parent of both the smallest and largest group for which consolidated financial statements are prepared. The consolidated financial statements are available from it's registered office at Wepre House, Lon Parcwr Business Park, LL15 1NJ. |
The ultimate controlling parties are Mr I P Roberts and Mrs S A Roberts by virtue of equal ownership of 100% of the issued share capital of Wepre Holdings Limited. |