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Registration number: 12193214

Room to Let (Salisbury) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Room to Let (Salisbury) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Room to Let (Salisbury) Limited

Company Information

Director

Mr I Matthews

Registered office

23 Merrifield Road
Ford
Salisbury
Wiltshire
SP4 6DF

Accountants

Numeric Accounting
Chartered Certified AccountantsSuite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Room to Let (Salisbury) Limited

(Registration number: 12193214)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,570

2,093

Investment property

5

404,634

404,634

 

406,204

406,727

Current assets

 

Debtors

6

40

40

Cash at bank and in hand

 

5,019

12,475

 

5,059

12,515

Creditors: Amounts falling due within one year

7

(51,038)

(68,288)

Net current liabilities

 

(45,979)

(55,773)

Total assets less current liabilities

 

360,225

350,954

Creditors: Amounts falling due after more than one year

7

(311,967)

(313,767)

Net assets

 

48,258

37,187

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

48,248

37,177

Shareholders' funds

 

48,258

37,187

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 May 2025
 

 

Room to Let (Salisbury) Limited

(Registration number: 12193214)
Balance Sheet as at 30 September 2024 (continued)

.........................................
Mr I Matthews
Director

 

Room to Let (Salisbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
23 Merrifield Road
Ford
Salisbury
Wiltshire
SP4 6DF

These financial statements were authorised for issue by the director on 19 May 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Room to Let (Salisbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class

Depreciation method and rate

Fixtures and Fittings

25% Reducing Balance

Investment property

Investment property is recorded at fair value as assessed by the director at the balance sheet date. These are not depreciated.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

 

Room to Let (Salisbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 October 2023

4,653

4,653

At 30 September 2024

4,653

4,653

Depreciation

At 1 October 2023

2,560

2,560

Charge for the year

523

523

At 30 September 2024

3,083

3,083

Carrying amount

At 30 September 2024

1,570

1,570

At 30 September 2023

2,093

2,093

5

Investment properties

2024
£

At 1 October

404,634

At 30 September

404,634

Investment properties are recorded at fair value as assessed by the director at the balance sheet date and this is also the historic cost.

 

Room to Let (Salisbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

6

Debtors

Current

2024
£

2023
£

Prepayments

40

40

 

40

40

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

1,800

1,800

Taxation and social security

 

2,720

4,065

Accruals and deferred income

 

1,165

1,110

Other creditors

 

45,353

61,313

 

51,038

68,288


Loan

The Bounceback Loan is unsecured for a period of 60 months and attracts interest at 2.5% per annum. Repayments are made monthly.
Amounts due for repayment:
Less than 1 year: £1,800 (2023 - £1,800)
More than 1 year and less than 5 years: £2,100 (2023 - £3,900)

 

Room to Let (Salisbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

7

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

311,967

313,767


Indebtedness

The company has a mortgage loan of £309,867 secured on the freehold property. This loan is currently on an interest only basis and is repayable after 5 years from the balance sheet date.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

       
 

Room to Let (Salisbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,100

3,900

Other borrowings

309,867

309,867

311,967

313,767

Current loans and borrowings

2024
£

2023
£

Bank borrowings

1,800

1,800

10

Related party transactions

Transactions with the director

2024

At 1 October 2023
£

Advances to director
£

At 30 September 2024
£

Mr I Matthews

The loan is interest free with no fixed date of repayment

(54,582)

35,972

(18,610)

Summary of transactions with associates

Loans from related parties

 

Room to Let (Salisbury) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

10

Related party transactions (continued)

2024

Breeze Developments Ltd
£

Total
£

At start of period

4,500

4,500

Advanced from Breeze Developments Ltd

23,000

23,000

Repaid to Breeze Developments Ltd

(3,000)

(3,000)

At end of period

24,500

24,500

2023

Breeze Developments Ltd
£

Total
£

Advanced from Breeze Developments Ltd

7,500

7,500

Repaid to Breeze Developments Ltd

(3,000)

(3,000)

At end of period

4,500

4,500

The loans are interest free with no fixed date of repayment. Breeze Developments Ltd is owned by Mr I Matthews