2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2024 - FRS102_2024 175,000 175,000 175,000 xbrli:pure xbrli:shares iso4217:GBP 09542194 2023-05-01 2024-04-30 09542194 2024-04-30 09542194 2023-04-30 09542194 2022-05-01 2023-04-30 09542194 2023-04-30 09542194 2022-04-30 09542194 bus:Director2 2023-05-01 2024-04-30 09542194 core:AfterOneYear 2023-04-30 09542194 core:WithinOneYear 2024-04-30 09542194 core:WithinOneYear 2023-04-30 09542194 core:ShareCapital 2024-04-30 09542194 core:ShareCapital 2023-04-30 09542194 core:RevaluationReserve 2024-04-30 09542194 core:RevaluationReserve 2023-04-30 09542194 core:RetainedEarningsAccumulatedLosses 2024-04-30 09542194 core:RetainedEarningsAccumulatedLosses 2023-04-30 09542194 core:LandBuildings 2024-04-30 09542194 core:LandBuildings 2023-04-30 09542194 bus:Director1 2023-05-01 2024-04-30 09542194 bus:SmallEntities 2023-05-01 2024-04-30 09542194 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 09542194 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 09542194 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09542194 bus:FullAccounts 2023-05-01 2024-04-30 09542194 core:AfterOneYear 2023-05-01 2024-04-30 09542194 core:KeyManagementIndividualGroup1 2023-05-01 2024-04-30 09542194 core:KeyManagementIndividualGroup1 2024-04-30
COMPANY REGISTRATION NUMBER: 09542194
S & C Rose Properties Limited
Filleted Unaudited Financial Statements
For the year ended
30 April 2024
S & C Rose Properties Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
S & C Rose Properties Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
175,000
175,000
Current assets
Debtors
6
231
2,959
Cash at bank and in hand
40,447
126,738
--------
----------
40,678
129,697
Creditors: amounts falling due within one year
7
185,077
182,482
----------
----------
Net current liabilities
144,399
52,785
----------
----------
Total assets less current liabilities
30,601
122,215
Creditors: amounts falling due after more than one year
8
96,499
Provisions
Taxation including deferred tax
4,881
4,881
--------
----------
Net assets
25,720
20,835
--------
----------
Capital and reserves
Called up share capital
2
2
Revaluation reserve
20,807
20,807
Profit and loss account
4,911
26
--------
--------
Shareholders funds
25,720
20,835
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
S & C Rose Properties Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 24 March 2025 , and are signed on behalf of the board by:
Mr S O Rose
Director
Company registration number: 09542194
S & C Rose Properties Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Albion House, Manor Farm, Fillingham, Gainsborough, DN21 5BS.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover comprises revenue recognised by the company in respect of rental income receivable net of value added tax.
(d) Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively . Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
(g) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(h) Financial instruments
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 entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Land and buildings
£
Cost / Valuation
At 1 May 2023 and 30 April 2024
175,000
----------
Depreciation
At 1 May 2023 and 30 April 2024
----------
Carrying amount
At 30 April 2024
175,000
----------
At 30 April 2023
175,000
----------
The investment property was valued in April 2024 by the directors who have experience in the location and category of the investment property being valued.
6. Debtors
2024
2023
£
£
Trade debtors
231
2,959
----
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,610
5,628
Corporation tax
1,614
1,037
Directors Loan Accounts
177,061
175,061
Other creditors
792
756
----------
----------
185,077
182,482
----------
----------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
96,499
----
--------
The loan is secured by way of a mortgage charge over the Investment Property to which it relates.
9. Related party transactions
During the year the directors made loans available to the Company. The balance owing to the directors at 30 April 2024 was £ 177,061 (2023 - £175,061). This loan was interest free. The directors have provided personal guarantees with respect to the company loan.