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Company registration number: SC204094
Roundhouse Letting Ltd
Unaudited filleted financial statements
31 March 2025
Roundhouse Letting Ltd
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Roundhouse Letting Ltd
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Investments 5 770,000 754,850
_______ _______
770,000 754,850
Current assets
Debtors 6 64 -
Cash at bank and in hand 9,330 11,762
_______ _______
9,394 11,762
Creditors: amounts falling due
within one year 7 ( 156,042) ( 142,850)
_______ _______
Net current liabilities ( 146,648) ( 131,088)
_______ _______
Total assets less current liabilities 623,352 623,762
Creditors: amounts falling due
after more than one year 8 ( 222,228) ( 241,979)
Provisions for liabilities ( 26,943) ( 24,064)
_______ _______
Net assets 374,181 357,719
_______ _______
Capital and reserves
Called up share capital 100 100
Revaluation reserve 177,785 165,514
Profit and loss account 196,296 192,105
_______ _______
Shareholder funds 374,181 357,719
_______ _______
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 June 2025 , and are signed on behalf of the board by:
Mr M Warner
Director
Company registration number: SC204094
Roundhouse Letting Ltd
Statement of changes in equity
Year ended 31 March 2025
Called up share capital Revaluation reserve Profit and loss account Total
£ £ £ £
At 1 April 2023 100 165,514 174,425 340,039
Profit for the year 17,680 17,680
_______ _______ _______ _______
Total comprehensive income for the year - - 17,680 17,680
_______ _______ _______ _______
At 31 March 2024 and 1 April 2024 100 165,514 192,105 357,719
Profit for the year 5,191 5,191
Other comprehensive income for the year:
Revaluation of tangible assets 12,271 12,271
_______ _______ _______ _______
Total comprehensive income for the year - 12,271 5,191 17,462
Dividends paid and payable ( 1,000) ( 1,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 1,000) ( 1,000)
_______ _______ _______ _______
At 31 March 2025 100 177,785 196,296 374,181
_______ _______ _______ _______
Roundhouse Letting Ltd
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Groenendaal, 19 Caledonian Road, Peebles, EH45 9DJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
Basic financial instruments are initially recognised at the transaction price , unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.Cash at bank and in hand includes cash and short term highly liquid investments.Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2024: Nil).
5. Investments
Investment properties Total
£ £
Cost or valuation
At 1 April 2024 754,850 754,850
Revaluations 15,150 15,150
_______ _______
At 31 March 2025 770,000 770,000
_______ _______
Impairment
At 1 April 2024 and 31 March 2025 - -
_______ _______
Carrying amount
At 31 March 2025 770,000 770,000
_______ _______
At 31 March 2024 754,850 754,850
_______ _______
The company's investment properties were revalued by the director at 31 March 2025 on an open market value basis. The historic cost of the investment properties is £565,272.
6. Debtors
2025 2024
£ £
Other debtors 64 -
_______ _______
7. Creditors: amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts 16,772 13,127
Corporation tax 1,218 4,133
Other creditors 138,052 125,590
_______ _______
156,042 142,850
_______ _______
8. Creditors: amounts falling due after more than one year
2025 2024
£ £
Bank loans and overdrafts 222,228 241,979
_______ _______
The company's bank loans are from Handelsbanken PLC and are secured by standard securities over individual company properties. In additon, Handelsbanken PLC plc hold a bond and floating charge in respect of all sums due.
9. Controlling party
The company is controlled by M Warner , director.