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Registration number: 07043939

Rogers & Co Lettings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Rogers & Co Lettings Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

Rogers & Co Lettings Limited

(Registration number: 07043939)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

268

593

Investment property

6

792,350

792,350

 

792,618

792,943

Current assets

 

Debtors

7

23,833

5,633

Cash at bank and in hand

 

112,254

74,938

 

136,087

80,571

Creditors: Amounts falling due within one year

8

(81,683)

(60,218)

Net current assets

 

54,404

20,353

Total assets less current liabilities

 

847,022

813,296

Creditors: Amounts falling due after more than one year

8

(113,228)

(135,934)

Provisions for liabilities

(20,147)

(20,184)

Net assets

 

713,647

657,178

Capital and reserves

 

Called up share capital

500

400

Other reserves

85,566

85,566

Retained earnings

627,581

571,212

Shareholders' funds

 

713,647

657,178

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Rogers & Co Lettings Limited

(Registration number: 07043939)
Balance Sheet as at 31 October 2024

Approved and authorised by the Board on 5 April 2025 and signed on its behalf by:
 

.........................................
L M Rogers
Director

 

Rogers & Co Lettings Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales..

The address of its registered office is:
24 Bath Street
Frome
Somerset
BA11 1DJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities, net of value added tax and discounts, and rent due from tenants.

Tax

The tax expense for the period comprises current tax, and is recognised as a charge against the company's profit.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

Rogers & Co Lettings Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation; cost includes directly attributable incremental costs incurred in their acquisition.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business, and are recognised initially at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers, and are recognised initially at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs; interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 6).

 

Rogers & Co Lettings Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

15,000

15,000

At 31 October 2024

15,000

15,000

Amortisation

At 1 November 2023

15,000

15,000

At 31 October 2024

15,000

15,000

Net book value

At 31 October 2024

-

-

5

Tangible assets

Computer equipment
 £

Total
£

Cost or valuation

At 1 November 2023

3,139

3,139

At 31 October 2024

3,139

3,139

Depreciation

At 1 November 2023

2,546

2,546

Charge for the year

325

325

At 31 October 2024

2,871

2,871

Net book value

At 31 October 2024

268

268

At 31 October 2023

593

593

6

Investment properties

2024
£

At 1 November

792,350

At 31 October

792,350

There has been no valuation of investment property by an independent valuer.

 

Rogers & Co Lettings Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

7

Debtors

2024
£

2023
£

Trade debtors

1,155

5,483

Other debtors

22,528

-

Prepayments

150

150

23,833

5,633

8

Creditors

Amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

19,400

12,414

Trade creditors

 

2,517

4,897

Taxation and social security

 

49,064

39,651

Accruals and deferred income

 

9,853

2,080

Other creditors

 

849

1,176

 

81,683

60,218

Amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

113,228

135,934


The bank loan is secured by a fixed and floating charge over the company's investment properties.

 

Rogers & Co Lettings Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

113,228

135,934

Current loans and borrowings

2024
£

2023
£

Bank borrowings

19,400

12,414

 

Rogers & Co Lettings Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

10

Related party transactions

Transactions with directors

2024

At 1 November 2023
£

Advances to director
£

Repayments by director
£

At 31 October 2024
£

Interest-free loan repaid within 9 months

(73)

67,000

(52,000)

14,927

 

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Interest-free loan repaid within 9 months

(31,151)

55,000

(23,922)

(73)

 

Other transactions with directors

The directors overdrawn loan account was repaid on 7 November 2024.

Summary of transactions with other related parties

Family member and shareholder
 

Loans to related parties

2024

Other related parties
£

Total
£

Advanced

10,000

10,000

Repaid

(2,500)

(2,500)

At end of period

7,500

7,500

Terms of loans to related parties

Interest-free loan.