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REGISTERED NUMBER: 04382136 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Rosco Property Group Limited

Rosco Property Group Limited (Registered number: 04382136)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Rosco Property Group Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr S Rankin
Mrs K Rankin





REGISTERED OFFICE: Lugano Building
57 Melbourne St
Newcastle upon Tyne
Tyne and Wear
NE1 2JQ





REGISTERED NUMBER: 04382136 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Rosco Property Group Limited (Registered number: 04382136)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 34,183 102,321
Investments 6 6,302,100 7,202,100
Investment property 7 8,560,148 8,629,202
14,896,431 15,933,623

CURRENT ASSETS
Debtors 8 2,098,129 2,821,087
Cash at bank 832,331 351,052
2,930,460 3,172,139
CREDITORS
Amounts falling due within one year 9 (17,647,552 ) (17,607,331 )
NET CURRENT LIABILITIES (14,717,092 ) (14,435,192 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

179,339

1,498,431

PROVISIONS FOR LIABILITIES (87,787 ) (155,925 )
NET ASSETS 91,552 1,342,506

CAPITAL AND RESERVES
Called up share capital 500,000 500,000
Profit and loss account (408,448 ) 842,506
SHAREHOLDERS' FUNDS 91,552 1,342,506

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





Mr S Rankin - Director


Rosco Property Group Limited (Registered number: 04382136)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Rosco Property Group 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Rosco Property Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents rental income derived from the company's investment property arising in the UK. Rental income from leasing the investment property is recognised on a straight line basis over the term of the lease.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

- Buildings 25 years
- Plant and equipment 3 to 10 years
- Fixtures and fittings 3 to 10 years


Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

Investments in subsidiaries
Investments insubsidiaries are held at cost less impairment.

Investment property
Investment properties are stated at cost less accumulated depreciation.

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.

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.

Current and deferred tax assets and liabilities are not discounted.

Rosco Property Group Limited (Registered number: 04382136)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 146,260
Disposals (57,995 )
At 31 December 2023 88,265
DEPRECIATION
At 1 January 2023 43,939
Charge for year 19,809
Eliminated on disposal (9,666 )
At 31 December 2023 54,082
NET BOOK VALUE
At 31 December 2023 34,183
At 31 December 2022 102,321

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 7,202,100
Additions 504,314
Disposals (504,314 )
Impairments (900,000 )
At 31 December 2023 6,302,100
NET BOOK VALUE
At 31 December 2023 6,302,100
At 31 December 2022 7,202,100

Rosco Property Group Limited (Registered number: 04382136)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 12,843,089
Additions 464,297
Disposals (202,532 )
At 31 December 2023 13,104,854
DEPRECIATION
At 1 January 2023 4,213,887
Charge for year 330,819
At 31 December 2023 4,544,706
NET BOOK VALUE
At 31 December 2023 8,560,148
At 31 December 2022 8,629,202

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 42,958 101,406
Amounts owed by group undertakings 1,555,366 1,553,273
Other debtors 499,805 1,166,408
2,098,129 2,821,087

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 61,903 8,166
Taxation and social security 105,245 119,100
Other creditors 17,480,404 17,480,065
17,647,552 17,607,331