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Registered number: 01961215
Rosewoods Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01961215
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,969 31,300
Investment Properties 5 185,000 180,000
Investments 6 2 2
216,971 211,302
CURRENT ASSETS
Stocks 7 35,421 70,632
Debtors 8 87,507 198,614
Cash at bank and in hand 14,320 116,592
137,248 385,838
Creditors: Amounts Falling Due Within One Year 9 (310,378 ) (374,515 )
NET CURRENT ASSETS (LIABILITIES) (173,130 ) 11,323
TOTAL ASSETS LESS CURRENT LIABILITIES 43,841 222,625
Creditors: Amounts Falling Due After More Than One Year 10 (52,490 ) (146,155 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 12 - (10,950 )
NET (LIABILITIES)/ASSETS (8,649 ) 65,520
CAPITAL AND RESERVES
Called up share capital 13 139 139
Share premium account 9,961 9,961
Fair value reserve 15 74,986 69,986
Profit and Loss Account (93,735 ) (14,566 )
SHAREHOLDERS' FUNDS (8,649) 65,520
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Gaskin
Director
22nd November 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rosewoods Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01961215 . The registered office is Unit 6 Deben Way, Melton, Suffolk, IP12 1RS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The accounts have been been prepared on the going concern basis. The directors are confident of the company's ability to continue to trade due to the continued support of additional companies which hold a participating interest. 
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 33% on reducing balance
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Investments
Investments of unlisted shares are held at the original cost and are subject to a yearly impairment review.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 4)
5 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 July 2023 20,411 102,604 10,104 133,119
Additions 234 8,500 1,087 9,821
As at 30 June 2024 20,645 111,104 11,191 142,940
Depreciation
As at 1 July 2023 18,005 74,651 9,163 101,819
Provided during the period 607 7,874 671 9,152
As at 30 June 2024 18,612 82,525 9,834 110,971
Net Book Value
As at 30 June 2024 2,033 28,579 1,357 31,969
As at 1 July 2023 2,406 27,953 941 31,300
5. Investment Property
2024
£
Fair Value
As at 1 July 2023 180,000
Revaluations 5,000
As at 30 June 2024 185,000
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Page 5
6. Investments
Unlisted
£
Cost
As at 1 July 2023 2
As at 30 June 2024 2
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 2
As at 1 July 2023 2
7. Stocks
2024 2023
£ £
Work in progress 35,421 70,632
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 70,379 26,875
Other debtors 17,128 171,739
87,507 198,614
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 19,526 6,838
Trade creditors 73,645 197,175
Bank loans and overdrafts 81,068 75,451
Amounts owed to participating interests 30,175 26,306
Other creditors 42,066 9,491
Taxation and social security 63,898 59,254
310,378 374,515
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,000 16,973
Bank loans 47,490 129,182
52,490 146,155
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11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 19,526 6,838
Later than one year and not later than five years 5,000 16,973
24,526 23,811
24,526 23,811
12. Deferred Taxation
Taxable losses of £147,148 (2023: £60,068) are included this year and as such, a provision for deferred tax has not been recognised this year due to doubts of future profits becoming available with which the losses can be utilised against. 
2024 2023
£ £
Other timing differences - 10,950
13. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 139 139
14. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Simon Gaskin 160,313 5,043 160,023 - 5,333
The above loan is unsecured, interest free and repayable on demand.
15. Reserves
Fair Value Reserve
£
As at 1 July 2023 69,986
Movements in fair value reserve 5,000
As at 30 June 2024 74,986
16. Related Party Transactions
At the year end, the company held a creditor of £30,175 (2023: £26,306) payable to a company which had significant control and ownership by a director of Rosewoods Limited. The balance due at the year end is interest free and payable on demand.
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