Roseleigh Properties (Maidstone) Limited
Unaudited Financial Statements
For the year ended 30 September 2024
Pages for Filing with Registrar
Company Registration No. 01691596 (England and Wales)
Roseleigh Properties (Maidstone) Limited
Company Information
Directors
P.A. Freeman
T.A. Eastwood
Secretary
T.A. Eastwood
Company number
01691596
Registered office
6th Floor
9 Appold Street
London
EC2A 2AP
Accountants
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Roseleigh Properties (Maidstone) Limited
Balance Sheet
As at 30 September 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
113
151
Investment properties
6
1,200,000
1,200,000
1,200,113
1,200,151
Current assets
Debtors
7
47,466
51,840
Cash at bank and in hand
97,888
83,813
145,354
135,653
Creditors: amounts falling due within one year
8
(53,021)
(43,993)
Net current assets
92,333
91,660
Total assets less current liabilities
1,292,446
1,291,811
Provisions for liabilities
9
(142,787)
(142,787)
Net assets
1,149,659
1,149,024
Capital and reserves
Called up share capital
10
200
200
Revaluation reserve
841,039
841,039
Profit and loss reserves
308,420
307,785
Total equity
1,149,659
1,149,024

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

Roseleigh Properties (Maidstone) Limited
Balance Sheet (Continued)
As at 30 September 2024
Page 2
The financial statements were approved by the board of directors and authorised for issue on 25 June 2025 and are signed on its behalf by:
T.A. Eastwood
Director
Company Registration No. 01691596
Roseleigh Properties (Maidstone) Limited
Statement of Changes in Equity
For the year ended 30 September 2024
Page 3
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 October 2022
200
841,039
288,311
1,129,550
Year ended 30 September 2023:
Profit and total comprehensive income for the year
-
-
54,474
54,474
Dividends
4
-
0
-
(35,000)
(35,000)
Balance at 30 September 2023
200
841,039
307,785
1,149,024
Year ended 30 September 2024:
Profit and total comprehensive income for the year
-
-
56,790
56,790
Dividends
4
-
-
(56,155)
(56,155)
Balance at 30 September 2024
200
841,039
308,420
1,149,659
Roseleigh Properties (Maidstone) Limited
Notes to the Financial Statements
For the year ended 30 September 2024
Page 4
1
Accounting policies
Company information

Roseleigh Properties (Maidstone) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the rents receivable during the year.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% per annum on the reducing balance basis.
Computer equipment
25% per annum on the reducing balance basis.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is initially recognised in the profit and loss account, then transferred to the revaluation reserve.

Although this accounting policy is in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), it is a departure from the general requirements of the Companies Act 2006 for all tangible fixed assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.5
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.

Roseleigh Properties (Maidstone) Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
1
Accounting policies
(Continued)
Page 5
1.6
Financial instruments

The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as ‘other’ or financial instruments measured at fair value.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Roseleigh Properties (Maidstone) Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
Page 6
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Valuation of investment properties

The investment properties owned by the company have been revalued as at 30 September 2024 by the directors on a fair value basis.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
4
Dividends
2024
2023
£
£
Interim paid
56,155
35,000
Roseleigh Properties (Maidstone) Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
Page 7
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 and 30 September 2024
9,925
Depreciation and impairment
At 1 October 2023
9,774
Depreciation charged in the year
38
At 30 September 2024
9,812
Carrying amount
At 30 September 2024
113
At 30 September 2023
151
6
Investment property
2024
£
Fair value
At 1 October 2023 and 30 September 2024
1,200,000

The investment properties were valued on a fair value basis at 30 September 2024 by the directors, and are stated at their valuation amount. The directors are considered qualified to value the investment properties held by the company due to their experience in the field.

 

The historic cost of investment properties included at valuation was £216,174 (2023: £216,174).

7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
47,466
50,590
Other debtors
-
1,250
47,466
51,840
Roseleigh Properties (Maidstone) Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
Page 8
8
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
15,484
13,968
Other taxation and social security
4,630
2,457
Other creditors
13,714
7,348
Accruals and deferred income
19,193
20,220
53,021
43,993
9
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Investment property
142,787
142,787
There were no deferred tax movements in the year.
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
'A' Shares of £1 each
100
100
100
100
200
200
200
200
Roseleigh Properties (Maidstone) Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
Page 9
11
Related party transactions

A total of £17,357 (2023: £19,434) was paid to the directors of the company as their remuneration for the year.

 

Included within other creditors is a balance of £8,866 (2023: £7,527) due to the directors of the company.

 

During the year dividends of £55,032 (2023: £34,300) were paid to the directors of the company.

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