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REGISTERED NUMBER: 08662522 (England and Wales)










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: Mrs S Roberts
Mr I Roberts





SECRETARY: Mrs S Roberts





REGISTERED OFFICE: Roberts Homes Limited
Wepre House
Ruthin
LL15 1NJ





REGISTERED NUMBER: 08662522 (England and Wales)





AUDITORS: Salisbury & Company Business Solutions Limited
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 1,935 2,756
Investment property 5 657,942 1,759,342
659,877 1,762,098

CURRENT ASSETS
Debtors 6 7,404,137 8,281,349
Cash at bank and in hand 324,333 700,731
7,728,470 8,982,080
CREDITORS
Amounts falling due within one year 7 9,404 131,043
NET CURRENT ASSETS 7,719,066 8,851,037
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,378,943

10,613,135

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 15,378,300 15,378,300
Revaluation reserve 8 224,794 946,739
Retained earnings (7,225,151 ) (5,712,904 )
8,378,943 10,613,135

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 Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





Mr I Roberts - Director


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 private company, limited by shares , registered in England and Wales. 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 - 30% on cost and 25% on reducing balance

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 3 (2023 - 5 ) .

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 21,550
DEPRECIATION
At 1 April 2023 18,794
Charge for year 821
At 31 March 2024 19,615
NET BOOK VALUE
At 31 March 2024 1,935
At 31 March 2023 2,756

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,759,342
Disposals (1,101,400 )
At 31 March 2024 657,942
NET BOOK VALUE
At 31 March 2024 657,942
At 31 March 2023 1,759,342

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 240 240
Amounts owed by group undertakings 7,401,363 8,273,939
Other debtors 2,534 7,170
7,404,137 8,281,349

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.

Jeremy Salisbury (Senior Statutory Auditor)
for and on behalf of Salisbury & Company Business Solutions Limited

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.