Company registration number 04368903 (England and Wales)
ROSGUILL HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
ROSGUILL HOLDINGS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ROSGUILL HOLDINGS LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
2,600,000
2,400,000
Investments
5
100
100
2,600,100
2,400,100
Current assets
Debtors
6
2,367,848
2,184,480
Cash at bank and in hand
267,852
263,280
2,635,700
2,447,760
Creditors: amounts falling due within one year
7
(153,842)
(90,621)
Net current assets
2,481,858
2,357,139
Total assets less current liabilities
5,081,958
4,757,239
Creditors: amounts falling due after more than one year
8
(753,494)
(781,660)
Net assets
4,328,464
3,975,579
Capital and reserves
Called up share capital
9
2
2
Non-distributable profits reserve
10
992,660
792,660
Distributable profit and loss reserves
3,335,802
3,182,917
Total equity
4,328,464
3,975,579
ROSGUILL HOLDINGS LTD
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2024
28 February 2024
- 2 -

For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 November 2024 and are signed on its behalf by:
F McBride
Director
Company registration number 04368903 (England and Wales)
ROSGUILL HOLDINGS LTD
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2024
28 February 2024
- 3 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Rosguill Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 17 Pennine Parade, Pennine Drive, London, NW2 1NT.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

2.2
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

2.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

2.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ROSGUILL HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
2
Accounting policies
(Continued)
- 4 -
2.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

2.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

 

2.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
4
Investment property
2024
£
Fair value
At 1 March 2023
2,400,000
Revaluations
200,000
At 28 February 2024
2,600,000
ROSGUILL HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
4
Investment property
(Continued)
- 5 -

Investment property comprises of residential freehold property. The fair value of the investment property has been arrived at on the basis of a Directors valuation as at the year end. The Directors have compared similar properties and their market values and believe their valuation shows a fair refection of the market values of the property as at the year end.

5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
Fixed asset investments not carried at market value

The director's have opted to account for the company's investment in subsidiaries at cost less impairment as set out in the above accounting policies and in accordance with the FRS 102 1A. The reason for choosing this method is that the subsidiary has always been privately owned and its shares have never been publicly traded.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,454,189
894,378
Other debtors
913,659
1,290,102
2,367,848
2,184,480

The amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

.

7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
32,776
32,776
Trade creditors
9,416
11,969
Taxation and social security
7,065
4,994
Other creditors
104,585
40,882
153,842
90,621

Amount due to group undertaking are unsecured, interest free and repayable on demand.

ROSGUILL HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 6 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
753,494
781,660

Of the creditors falling due within and after more than one year, the banks loans and overdrafts totalling £786,270 (2023: £814,436 ) were secured.

 

There is a Legal Charge dated 6 October 2017 in favour of the company's bankers, National Westminster Bank Plc, to secure banking facilities. This comprises fixed charges over the investment property. The Legal Charge contains a negative pledge.

 

There is also a Debenture dated 6 October 2017, in favour of the company's bankers, National Westminster Bank Plc, to secure banking facilities. This comprises fixed and floating charges over all property or undertaking, together with the fixed and current assets of the company, present and future. The Debenture contains a negative pledge.

9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2

The company has one class of ordinary shares which carry no right to fixed income.

10
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
792,660
792,660
Non distributable profits in the year
200,000
-
At the end of the year
992,660
792,660
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