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Registered number: 02079016









ROUNDLODGE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
ROUNDLODGE LIMITED
REGISTERED NUMBER: 02079016

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,070,000
1,070,000

  
1,070,000
1,070,000

Current assets
  

Debtors: amounts falling due within one year
 5 
1,412,879
1,394,266

Cash at bank and in hand
  
9,372
53,198

  
1,422,251
1,447,464

Creditors: amounts falling due within one year
 6 
(80,429)
(76,638)

Net current assets
  
 
 
1,341,822
 
 
1,370,826

Total assets less current liabilities
  
2,411,822
2,440,826

Creditors: amounts falling due after more than one year
 7 
(701,149)
(700,856)

  

Net assets
  
1,710,673
1,739,970


Capital and reserves
  

Called up share capital 
  
25,000
25,000

Profit and loss account
 8 
1,685,673
1,714,970

  
1,710,673
1,739,970

Page 1

 
ROUNDLODGE LIMITED
REGISTERED NUMBER: 02079016
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The director considers 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 director acknowledges his 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 income and retained earnings 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 on 17 March 2025.

A Thrasyvoulou
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ROUNDLODGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Roundlodge Limited is a private company limited by shares and registered in England and Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The individual financial statements of Roundlodge Limited have been prepared in compliance with United Kingdom accounting standards, including Section 1A Small Entities of Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and applicable law. 
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the appropriateness of the going concern basis the director has taken into account all relevant information covering a period of at least twelve months from the date of the approval of the financial statements. The director believes that the company will have adequate funds available to meet its liabilities as they fall due and that it is therefore appropriate to prepare the financial statements on a going concern basis.

 
2.3

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:

Rental Income
Properties are leased to tenants under operating leases with each years rent detailed in the terms of the lease. Tenants are invoiced on a straight-line basis over the year with the total yearly rent agreeing to the lease. The rental income receivable is recognised through the profit or loss in the relevant accounting period to the monthly invoices. Rental income is measured at the fair value of consideration.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 3

 
ROUNDLODGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The company makes an estimate of accruals at the period end based on invoices received after the period end, work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.
Revaluation of land and buildings
The company carries its land and buildings at fair value, with changes in fair value being recognised in other comprehensive income. Fair value has been based on a valuation undertaken by the director of the company.

Page 4

 
ROUNDLODGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
1,070,000



At 30 June 2024
1,070,000

Freehold investment properties were revalued to fair value based on a valuation undertaken by E.Surv
Chartered Surveyors on 18 May 2021 on an open market value for existing use basis. The director believes that the fair value as on 30 June 2024 is not materially different from this amount.





5.


Debtors

2024
2023
£
£


Trade debtors
1,200
-

Other debtors
1,409,691
1,391,438

Prepayments and accrued income
1,988
2,828

1,412,879
1,394,266



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,200
-

Other creditors
70,727
69,978

Accruals and deferred income
5,502
6,660

80,429
76,638


Page 5

 
ROUNDLODGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
701,149
700,856

701,149
700,856


The aggregate amount of creditors for which security has been given amounted to £701,149 (2023: £700,856).
£350,592 of the long term loan is secured by a legal charge over 7 Pavillion Mews. It bears a fixed rate of 2.59% until 19 October 2026 and subsequently a variable rate until the end of the term. The repayment terms are on an interest only basis. The capital will be repaid at the end of the 12 year loan in 2033.
£350,557 of the long term loan is secured by a legal charge over 8 Pavillion Mews. It bears a fixed rate of 2.59% until 19 October 2026 and subsequently a variable rate until the end of the term. The repayment terms are on an interest only basis The capital will be repaid at the end of the 12 year loan in 2033.


8.


Reserves

Profit and loss account

Included in the profit and loss reserve carried forward is a non distributable amount of £250,000 relating to the revaluation of investment properties.
Page 6

 
ROUNDLODGE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Related party transactions

Other debtors includes amounts owed by and amounts owed to companies in which A Thrasyvoulou is either a director or has a significant influence over the general running of the business. No formal arrangements exist for the repayment of these amounts which arise as amounts are transferred to provide working capital for each company.
During the period, Roundlodge Limited received services from New World Hospitality UK Limited of £24,000 (2023: £24,000).
At the reporting date, the following amounts were included in debtors and creditors:


2024
2023
£
£

Debtors
Arisco Properties Limited
62,154
61,154
Calhurst Limited
396,091
358,591
New World Hospitality UK Limited
913,645
939,645
New Parkgate Limited
37,782
24,110
A Thrasyvoulou (director)
-
7,918
1,409,672
1,391,418
Creditors
Airminster Limited
10,000
10,000
My Bright Limited
60,727
59,978
70,727
69,978
 
Page 7