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Registered number: 02699303










ROSELAND ESTATES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
ROSELAND ESTATES LIMITED
REGISTERED NUMBER: 02699303

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Tangible assets
 4 
451,575
434,169

  
451,575
434,169

Current assets
  

Debtors: amounts falling due within one year
 5 
1,201,243
1,179,394

Cash at bank and in hand
 6 
972,250
744,585

  
2,173,493
1,923,979

Creditors: amounts falling due within one year
 7 
(550,250)
(590,181)

Net current assets
  
 
 
1,623,243
 
 
1,333,798

Total assets less current liabilities
  
2,074,818
1,767,967

Net assets
  
2,074,818
1,767,967


Capital and reserves
  

Called up share capital 
 8 
500,000
500,000

Profit and loss account
  
1,574,818
1,267,967

  
2,074,818
1,767,967


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 







J E Rose
Director

Date: 20 January 2025

Page 1

 
ROSELAND ESTATES LIMITED
REGISTERED NUMBER: 02699303

BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ROSELAND ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Roseland Estates Limited is a private company, limited by share capital and incorporated in England and Wales.
The company's registered office address is The Watch Tower, Roseland Business Park, Long Bennington, Newark, Nottinghamshire, NG23 5FF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 3

 
ROSELAND ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Freehold land
-
not depreciated
Long-term leasehold property
-
Plant and machinery
-
25%
reducing balance basis
Motor vehicles
-
25%
reducing balance basis
Fixtures and fittings
-
33%
straignt-line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
ROSELAND ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
ROSELAND ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Freehold land
Improvements to property
Plant and machinery
Motor vehicles
Fixtures and fittings

£
£
£
£
£



Cost or valuation


At 1 June 2023
432,183
-
14,564
3,500
6,109


Additions
-
11,400
-
-
8,438



At 31 May 2024

432,183
11,400
14,564
3,500
14,547



Depreciation


At 1 June 2023
-
-
12,578
3,500
6,109


Charge for the year
-
523
496
-
1,413



At 31 May 2024

-
523
13,074
3,500
7,522



Net book value



At 31 May 2024
432,183
10,877
1,490
-
7,025



At 31 May 2023
432,183
-
1,986
-
-

Total

£



Cost or valuation


At 1 June 2023
456,356


Additions
19,838



At 31 May 2024

476,194



Depreciation


At 1 June 2023
22,187


Charge for the year
2,432



At 31 May 2024

24,619



Net book value



At 31 May 2024
451,575



At 31 May 2023
434,169

Page 6

 
ROSELAND ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£

Trade debtors
209,008
351,171

Amounts owed by group undertakings
972,155
808,143

Other debtors
20,080
20,080

1,201,243
1,179,394



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
972,250
744,585

972,250
744,585



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
11,581
726

Corporation tax
267,177
159,638

Other taxation and social security
78,789
34,659

Accruals and deferred income
192,703
395,158

550,250
590,181



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



500,000 (2023 - 500,000) Ordinary shares of £1 each
500,000
500,000



9.


Related party transactions

At the year end the company was owed £972,155 (2023: £808,143) by J C R 2008 Limited, its parent company and was owed £190,439 (2023: £nil) by Roseland Park Farm & Stud, a partnership under common control.
Page 7

 
ROSELAND ESTATES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Controlling party

The parent company is J C R 2008 Limited, a company incorporated in England and Wales.


Page 8