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Company No: 02972660 (England and Wales)

ROSEMUNDY INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 28 September 2024
Pages for filing with the registrar

ROSEMUNDY INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 28 September 2024

Contents

ROSEMUNDY INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 28 September 2024
ROSEMUNDY INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 28 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 20 32
Investment property 5 1,865,000 1,925,000
1,865,020 1,925,032
Current assets
Debtors 6 18,379 13,133
Cash at bank and in hand 2,324,525 2,161,641
2,342,904 2,174,774
Creditors: amounts falling due within one year 7 ( 143,323) ( 115,831)
Net current assets 2,199,581 2,058,943
Total assets less current liabilities 4,064,601 3,983,975
Provision for liabilities 0 ( 8)
Net assets 4,064,601 3,983,967
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 4,064,501 3,983,867
Total shareholders' funds 4,064,601 3,983,967

For the financial year ending 28 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Rosemundy Investments Limited (registered number: 02972660) were approved and authorised for issue by the Board of Directors on 22 June 2025. They were signed on its behalf by:

Stephen Arthur Manico
Director
ROSEMUNDY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 September 2024
ROSEMUNDY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rosemundy Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Chy Nyverow, Newham Road, Truro, TR1 2DP, United Kingdom. The principal place of business is Kennaa House, Kennaa Road, St Johns, IM4 3LW.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Valuation of investment property.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

4. Tangible assets

Plant and machinery Total
£ £
Cost
At 29 September 2023 1,115 1,115
At 28 September 2024 1,115 1,115
Accumulated depreciation
At 29 September 2023 1,083 1,083
Charge for the financial year 12 12
At 28 September 2024 1,095 1,095
Net book value
At 28 September 2024 20 20
At 28 September 2023 32 32

5. Investment property

Investment property
£
Valuation
As at 29 September 2023 1,925,000
Fair value movement (60,000)
As at 28 September 2024 1,865,000

Valuation

The 2024 valuations were made by the directors, on an open market value for existing use basis.

6. Debtors

2024 2023
£ £
Trade debtors 14,675 10,198
Other debtors 3,704 2,935
18,379 13,133

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 74,314 54,967
Amounts owed to directors 14,709 14,255
Accruals 3,600 3,300
Corporation tax 45,605 40,559
Other taxation and social security 5,095 2,750
143,323 115,831

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

At the year end, the Directors were owed £14,709 (2023: £14,255) from the company. There is no interest charged on this balance and there is no set date for repayment.