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REGISTERED NUMBER: 10797892 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Rosco Sterling House Limited

Rosco Sterling House Limited (Registered number: 10797892)






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 Sterling House Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs K Rankin
Mr S Rankin





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





REGISTERED NUMBER: 10797892 (England and Wales)





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

Rosco Sterling House Limited (Registered number: 10797892)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 5 1,810,569 1,854,582

CURRENT ASSETS
Debtors 6 557 -
Cash at bank 267,166 101,469
267,723 101,469
CREDITORS
Amounts falling due within one year 7 (1,639,654 ) (1,629,632 )
NET CURRENT LIABILITIES (1,371,931 ) (1,528,163 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

438,638

326,419

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 438,538 326,319
SHAREHOLDERS' FUNDS 438,638 326,419

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 Sterling House Limited (Registered number: 10797892)

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

1. STATUTORY INFORMATION

Rosco Sterling House 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.

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.

Investment property
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. 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.

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 and other future taxable profits.

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.

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).

Rosco Sterling House Limited (Registered number: 10797892)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 2,100,332
DEPRECIATION
At 1 January 2023 245,750
Charge for year 44,013
At 31 December 2023 289,763
NET BOOK VALUE
At 31 December 2023 1,810,569
At 31 December 2022 1,854,582

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 557 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 321 -
Amounts owed to group undertakings 1,556,608 1,518,907
Taxation and social security 47,372 75,372
Other creditors 35,353 35,353
1,639,654 1,629,632