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Roath Housing Company Limited

Financial Statements for the Year Ended 30 April 2024






Roath Housing Company Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: C D Burridge
L Burridge





REGISTERED OFFICE: Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA





REGISTERED NUMBER: 02211586 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Roath Housing Company Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Roath Housing Company Limited for the year ended 30 April 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Roath Housing Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Roath Housing Company Limited and state those matters that we have agreed to state to the Board of Directors of Roath Housing Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Roath Housing Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Roath Housing Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Roath Housing Company Limited. You consider that Roath Housing Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Roath Housing Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


2 January 2025

Roath Housing Company Limited (Registered number: 02211586)

Balance Sheet
30 April 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 3 8,591 56,546
Investment property 4 9,012,347 8,459,469
9,020,938 8,516,015

CURRENT ASSETS
Debtors 5 67,277 438,248
Cash at bank 15,602 76,209
82,879 514,457
CREDITORS
Amounts falling due within one year 6 416,782 306,104
NET CURRENT (LIABILITIES)/ASSETS (333,903 ) 208,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,687,035

8,724,368

CREDITORS
Amounts falling due after more than
one year

7

(3,930,366

)

(3,994,186

)

DEFERRED TAX (351,930 ) (351,930 )
NET ASSETS 4,404,739 4,378,252

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,404,639 4,378,152
4,404,739 4,378,252

Roath Housing Company Limited (Registered number: 02211586)

Balance Sheet - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 29 December 2024 and were signed on its behalf by:





C D Burridge - Director


Roath Housing Company Limited (Registered number: 02211586)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. 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.

Turnover
Turnover represents the value of rental income, in relation to property investment and management.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% straight line
Motor vehicles - 20% reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Roath Housing Company Limited (Registered number: 02211586)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£ £ £
COST
At 1 May 2023 48,531 67,394 115,925
Disposals - (56,090 ) (56,090 )
At 30 April 2024 48,531 11,304 59,835
DEPRECIATION
At 1 May 2023 48,531 10,848 59,379
Charge for year - 5,965 5,965
Eliminated on disposal - (14,100 ) (14,100 )
At 30 April 2024 48,531 2,713 51,244
NET BOOK VALUE
At 30 April 2024 - 8,591 8,591
At 30 April 2023 - 56,546 56,546

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 May 2023 8,459,469
Additions 552,878
At 30 April 2024 9,012,347
NET BOOK VALUE
At 30 April 2024 9,012,347
At 30 April 2023 8,459,469

The property was reassessed at an open market value at 30 April 2023 by the directors with the assistance of their professional property advisers.Their value is still deemed reasonable.

Roath Housing Company Limited (Registered number: 02211586)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


5. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 5,035 520
Other debtors & prepayments 12,242 387,728
17,277 388,248

Amounts falling due after more than one year:
Other debtors 50,000 50,000

Aggregate amounts 67,277 438,248

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 22,400 20,000
Hire purchase contracts - 7,817
Taxes & social security costs 20,037 13,765
Other creditors & accruals 374,345 264,522
416,782 306,104

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£ £
Bank loans 3,930,366 3,953,081
Hire purchase contracts - 41,105
3,930,366 3,994,186

Roath Housing Company Limited (Registered number: 02211586)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 3,930,366 3,966,581
Hire Purchase - 48,921
3,930,366 4,015,502

The bank loans are in the form of mortgages and are secured over the properties to which they relate.

The hire purchase contracts are secured over the assets to which they relate.