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Company No: 10398443 (England and Wales)

ROUNDHAM HOLDINGS LIMITED

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

ROUNDHAM HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

ROUNDHAM HOLDINGS LIMITED

BALANCE SHEET

As at 30 June 2024
ROUNDHAM HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,551,550 1,560,295
Investments 4 10,120 10,120
1,561,670 1,570,415
Current assets
Debtors 5 1,199,685 1,115,842
Cash at bank and in hand 26,938 49,052
1,226,623 1,164,894
Creditors: amounts falling due within one year 6 ( 96,299) ( 90,016)
Net current assets 1,130,324 1,074,878
Total assets less current liabilities 2,691,994 2,645,293
Creditors: amounts falling due after more than one year 7 ( 464,821) ( 506,702)
Provision for liabilities ( 70,913) ( 73,099)
Net assets 2,156,260 2,065,492
Capital and reserves
Called-up share capital 8 190 190
Profit and loss account 2,156,070 2,065,302
Total shareholders' funds 2,156,260 2,065,492

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 Holdings Limited (registered number: 10398443) 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 HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
ROUNDHAM HOLDINGS 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 Holdings 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 principal place of business is Valley House, Valley Road, Plympton, Plymouth, PL7 1RF.

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 is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/ reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Vehicles 15 % reducing balance
Office equipment 6 - 7 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and 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. Tangible assets

Land and buildings Vehicles Office equipment Total
£ £ £ £
Cost
At 01 July 2023 1,500,000 74,335 1,692 1,576,027
Additions 0 0 464 464
At 30 June 2024 1,500,000 74,335 2,156 1,576,491
Accumulated depreciation
At 01 July 2023 0 15,099 633 15,732
Charge for the financial year 0 8,885 324 9,209
At 30 June 2024 0 23,984 957 24,941
Net book value
At 30 June 2024 1,500,000 50,351 1,199 1,551,550
At 30 June 2023 1,500,000 59,236 1,059 1,560,295

Included within the net book value of land and buildings above is £1,500,000 (2023 - £1,500,000) in respect of freehold land and buildings. In the directors opinion the market value of freehold property at 30 June 2024 is £1,500,000.

4. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 10,120 10,120

Investments in subsidiaries

2024
£
Cost
At 01 July 2023 10,120
At 30 June 2024 10,120
Carrying value at 30 June 2024 10,120
Carrying value at 30 June 2023 10,120

5. Debtors

2024 2023
£ £
Trade debtors 6,977 7,396
Amounts owed by directors 150,919 99,980
Prepayments 3,914 3,783
Other debtors 1,037,875 1,004,683
1,199,685 1,115,842

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 38,248 39,058
Trade creditors 6,360 1,514
Corporation tax 36,410 33,743
Other taxation and social security 4,681 3,034
Obligations under finance leases and hire purchase contracts 5,408 8,112
Other creditors 5,192 4,555
96,299 90,016

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

2024 2023
£ £
Bank loans 464,821 501,294
Obligations under finance leases and hire purchase contracts 0 5,408
464,821 506,702

Hire purchase borrowings are secured on the individual assets taken out on hire purchase.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
19,000 Ordinary shares of £ 0.01 each 190 190

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Balances brought forward 99,980 0
Add: Advances made during the year 51,500 102,271
Less: Repayments made during the year (561) (2,291)
Balance carried forward 150,919 99,980

10. Reserves

Included within the profit and loss account balance carried forward are non-distributable reserves of £104,962 (2023: £104,692). These reserves represent the cumulative revaluation gains, after provision for deferred tax, on the company's investment properties.