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Company No: 10398467 (England and Wales)

ROUNDHAM INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

ROUNDHAM INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

ROUNDHAM INVESTMENTS LIMITED

BALANCE SHEET

As at 30 June 2024
ROUNDHAM INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 1,600,000 1,439,686
1,600,000 1,439,686
Current assets
Debtors 4 765 1,533
Cash at bank and in hand 77,662 60,184
78,427 61,717
Creditors: amounts falling due within one year 5 ( 970,395) ( 975,081)
Net current liabilities (891,968) (913,364)
Total assets less current liabilities 708,032 526,322
Creditors: amounts falling due after more than one year 6 ( 263,434) ( 263,434)
Provision for liabilities ( 71,272) ( 31,194)
Net assets 373,326 231,694
Capital and reserves
Called-up share capital 7 60 60
Profit and loss account 373,266 231,634
Total shareholder's funds 373,326 231,694

For the financial 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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Roundham Investments Limited (registered number: 10398467) were approved and authorised for issue by the Board of Directors on 17 March 2025. They were signed on its behalf by:

Mr M S Salmon
Director
ROUNDHAM INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
ROUNDHAM INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Roundham Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 July 2023 1,439,686
Fair value movement 160,314
As at 30 June 2024 1,600,000

There has been no valuation of investment property by an independent valuer. In the director's opinion the market value of the property at 30 June 2024 is £1,600,000.

4. Debtors

2024 2023
£ £
Prepayments 765 1,533

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,750 4,042
Amounts owed to Group undertakings 956,940 956,940
Taxation and social security 6,755 9,523
Other creditors 2,950 4,576
970,395 975,081

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 263,434 263,434

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
60 Ordinary shares of £ 1.00 each 60 60

8. Reserves

Included within the profit and loss account balance carried forward are non-distributable reserves of £232,534 (2023: £112,298). These reserves represent the cumulative revaluation gains, after provision for deferred tax, on the company's investment properties.

9. Ultimate controlling party

Parent Company:

Roundham Holdings Limited
Valley House, Valley Road, Plympton, Plymouth, PL7 1RF, England.