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REGISTERED NUMBER: SC683581 (Scotland)












Unaudited Financial Statements

for the Year Ended 31 March 2025

for

I & L Rooney Ltd

I & L Rooney Ltd (Registered number: SC683581)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


I & L Rooney Ltd

Company Information
for the Year Ended 31 March 2025







DIRECTORS: Mrs L A Rooney
Mr I F Rooney





REGISTERED OFFICE: 28 Rodger Street
Anstruther
Fife
KY10 3DU





REGISTERED NUMBER: SC683581 (Scotland)





ACCOUNTANTS: Henderson Black & Co
Chartered Accountants
28 Rodger Street
Anstruther
Fife
KY10 3DU

I & L Rooney Ltd (Registered number: SC683581)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 151,761 136,382
Investments 5 864,525 864,525
Investment property 6 - 206,400
1,016,286 1,207,307

CURRENT ASSETS
Debtors 7 7,407 689
Cash at bank 28,292 18,631
35,699 19,320
CREDITORS
Amounts falling due within one year 8 418,284 440,125
NET CURRENT LIABILITIES (382,585 ) (420,805 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

633,701

786,502

CREDITORS
Amounts falling due after more than one
year

9

500,242

661,230
NET ASSETS 133,459 125,272

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 133,259 125,072
133,459 125,272

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

I & L Rooney Ltd (Registered number: SC683581)

Balance Sheet - continued
31 March 2025


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:




Mr I F Rooney - Director



Mrs L A Rooney - Director


I & L Rooney Ltd (Registered number: SC683581)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

I & L Rooney Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about I & L Rooney Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily available from other sources. The estimates and associated assumptions are based on historical experience and other factors that are to be relevant. Actual results may differ from these estimates. In preparing these financial statements, the director has made the following judgements:

Accruals
The director estimates the requirements for accruals using post year end information. This identifies costs that are expected to be incurred for services provided by other parties. Accruals are only released when there is a reasonable expectation that these costs will not be invoiced in the future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property has previously been shown at most recent valuation with any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. The investment property was disposed of during the year to 31 March 2025 with the resulting loss on disposal recognised in the profit and loss account.


I & L Rooney Ltd (Registered number: SC683581)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less, recognised at transaction price.

I & L Rooney Ltd (Registered number: SC683581)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 April 2024 140,600
Additions 153,294
Disposals (140,600 )
At 31 March 2025 153,294
DEPRECIATION
At 1 April 2024 4,218
Charge for year 1,533
Eliminated on disposal (4,218 )
At 31 March 2025 1,533
NET BOOK VALUE
At 31 March 2025 151,761
At 31 March 2024 136,382

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2024
and 31 March 2025 864,525
NET BOOK VALUE
At 31 March 2025 864,525
At 31 March 2024 864,525

I & L Rooney Ltd (Registered number: SC683581)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2024 206,400
Disposals (206,400 )
At 31 March 2025 -
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 206,400

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Other debtors 7,407 689

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts 35,213 37,413
Taxation and social security 383 -
Other creditors 382,688 402,712
418,284 440,125

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Bank loans 500,242 661,230

Amounts falling due in more than five years:

Repayable by instalments
Bank loan due in more than 5
years 280,491 495,996
280,491 495,996

I & L Rooney Ltd (Registered number: SC683581)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.25 31.3.24
£    £   
Bank loans 535,455 698,643

Unity bank hold a fixed charge over the company property assets and a floating charge over all other assets of the company.