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Registered number: 05086801
Rovale Homes Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
TaxAssist Accountants
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05086801
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,471 9,962
Investment Properties 5 536,630 536,630
544,101 546,592
CURRENT ASSETS
Debtors 6 1,946 1,946
Cash at bank and in hand 1,303 875
3,249 2,821
Creditors: Amounts Falling Due Within One Year 7 (144,320 ) (128,607 )
NET CURRENT ASSETS (LIABILITIES) (141,071 ) (125,786 )
TOTAL ASSETS LESS CURRENT LIABILITIES 403,030 420,806
Creditors: Amounts Falling Due After More Than One Year 8 (60,004 ) (60,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (22,008 ) (22,008 )
NET ASSETS 321,018 338,798
CAPITAL AND RESERVES
Called up share capital 9 2 2
Other reserves 103,880 103,880
Profit and Loss Account 217,136 234,916
SHAREHOLDERS' FUNDS 321,018 338,798
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 Roger Summerfield
Director
21/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rovale Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05086801 . The registered office is Fern Cottage Cockpit Road, Great Kingshill, High Wycombe, Buckinghamshire, HP15 6ER.
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. 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.
2.3. 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:
Motor Vehicles 25% RBM
Fixtures & Fittings 25% RBM
2.4. 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.
2.5. 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2023 15,825 2,264 18,089
As at 30 June 2024 15,825 2,264 18,089
Depreciation
As at 1 July 2023 6,923 1,204 8,127
Provided during the period 2,226 265 2,491
As at 30 June 2024 9,149 1,469 10,618
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 June 2024 6,676 795 7,471
As at 1 July 2023 8,902 1,060 9,962
5. Investment Property
2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 536,630
6. Debtors
2024 2023
£ £
Due within one year
CT recoverable 1,946 1,946
1,946 1,946
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 4
Other creditors - Creation Loan 6,429 -
Accruals and deferred income 1,043 325
Director's loan account 136,848 128,278
144,320 128,607
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other Loan - Remortgage Loan 60,004 60,000
60,004 60,000
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4