1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 4,410,000 40,000 4,450,000 4,450,000 4,410,000 xbrli:pure xbrli:shares iso4217:GBP 05016723 2023-02-01 2024-01-31 05016723 2024-01-31 05016723 2023-01-31 05016723 2022-02-01 2023-01-31 05016723 2023-01-31 05016723 2022-01-31 05016723 bus:Director1 2023-02-01 2024-01-31 05016723 core:WithinOneYear 2024-01-31 05016723 core:WithinOneYear 2023-01-31 05016723 core:AfterOneYear 2024-01-31 05016723 core:AfterOneYear 2023-01-31 05016723 core:ShareCapital 2024-01-31 05016723 core:ShareCapital 2023-01-31 05016723 core:RevaluationReserve 2024-01-31 05016723 core:RevaluationReserve 2023-01-31 05016723 core:RetainedEarningsAccumulatedLosses 2024-01-31 05016723 core:RetainedEarningsAccumulatedLosses 2023-01-31 05016723 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 05016723 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 05016723 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 05016723 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05016723 bus:SmallEntities 2023-02-01 2024-01-31 05016723 bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 05016723 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05016723 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05016723 bus:FullAccounts 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: 05016723
Rokesley Estates Limited
Filleted Unaudited Financial Statements
31 January 2024
Rokesley Estates Limited
Statement of Financial Position
31 January 2024
2024
2023
(restated)
Note
£
£
£
Fixed assets
Tangible assets
5
4,450,000
4,410,000
Current assets
Debtors
6
850,003
845,392
Cash at bank and in hand
5,965
2
-----------
-----------
855,968
845,394
Creditors: amounts falling due within one year
7
2,903,340
2,863,357
---------------
---------------
Net current liabilities
2,047,372
2,017,963
---------------
---------------
Total assets less current liabilities
2,402,628
2,392,037
Creditors: amounts falling due after more than one year
8
19,665
26,823
Provisions
480,861
470,861
---------------
---------------
Net assets
1,902,102
1,894,353
---------------
---------------
Capital and reserves
Called up share capital
1
1
Revaluation reserve
1,625,675
1,595,675
Profit and loss account
276,426
298,677
---------------
---------------
Shareholders funds
1,902,102
1,894,353
---------------
---------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
Rokesley Estates Limited
Statement of Financial Position (continued)
31 January 2024
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 January 2025 , and are signed on behalf of the board by:
Mr K G Philips
Director
Company registration number: 05016723
Rokesley Estates Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5th Floor, Thames Tower, Station Road, Reading, Berkshire, RG1 1LX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or 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 that are expected to apply to the reversal of the timing difference.
Freehold property
Freehold property are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any freehold property carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Freehold property
£
Cost or valuation
At 1 February 2023 (as restated)
4,410,000
Revaluations
40,000
---------------
At 31 January 2024
4,450,000
---------------
Depreciation
At 1 February 2023 and 31 January 2024
---------------
Carrying amount
At 31 January 2024
4,450,000
---------------
At 31 January 2023
4,410,000
---------------
Tangible assets held at valuation
The freehold properties were revalued to fair value at 31 January 2023 by the directors. The revaluation net of deferred tax amounted to £1,595,675.
6. Debtors
2024
2023
(restated)
£
£
Other debtors
850,003
845,392
-----------
-----------
7. Creditors: amounts falling due within one year
2024
2023
(restated)
£
£
Bank loans and overdrafts
2,085,683
2,536,498
Other loans
442,802
Other creditors
374,855
326,859
---------------
---------------
2,903,340
2,863,357
---------------
---------------
The bank loans amounting to £2,065,135 (2023 - £2,536,498) are secured on property held by the company .
8. Creditors: amounts falling due after more than one year
2024
2023
(restated)
£
£
Bank loans and overdrafts
19,665
26,823
----------
----------
9. Deferred tax
A provision has been made in the accounts for the deferred tax that would be payable if the properties were sold at fair value. The tax payable is estimated to amount to £470,861.
10. Related party transactions
The sole director and controlling shareholder of the company is Mr K G Phillips. The following related party transactions occurred during the year. (a) Other creditors in note 8 includes a loan from David Kennedy & Co, a business owned by the director's brother. The amount of the loan at the Balance Sheet date was £79,386 (2023 - £79,386). (b) The Other Loans in note 8 is an amount of £442,802 (2023 - £Nil) being a loan made from St Clair Lamb Yard Limited. Other debtors (note 7) includes an amount of £689,266 (2023 - £680,468)due from St Clair Developments Limited. Both these companies are controlled by the brother of the director. (c) Fees of £Nil (2023 - £38,500) were paid to Mr K G Philips . (d) Some of the properties owned by the company are secured against a bank loan in the name of St Clair Developments Limited, a company controlled by the brother of the director. (e) Some of the properties owned by the company are secured against a bank loan in the name of St Clair Lamb Yard Limited, a company controlled by the brother of the director.