Company registration number SC645449 (Scotland)
SAN ROCCO INVESTMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SAN ROCCO INVESTMENTS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SAN ROCCO INVESTMENTS LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,279
4,332
Investment property
4
980,000
858,883
Investments
5
1
1
983,280
863,216
Current assets
Debtors
6
1
45,204
Cash at bank and in hand
231,359
40,970
231,360
86,174
Creditors: amounts falling due within one year
7
(11,705)
(6,585)
Net current assets
219,655
79,589
Total assets less current liabilities
1,202,935
942,805
Provisions for liabilities
(30,279)
-
0
Net assets
1,172,656
942,805
Capital and reserves
Called up share capital
8
1
1
Fair value reserve
9
90,838
-
0
Distributable profit and loss reserves
1,081,817
942,804
Total equity
1,172,656
942,805

The director of the company has 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 director acknowledges his 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.

SAN ROCCO INVESTMENTS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 27 June 2025
Dr D Di Rollo
Director
Company Registration No. SC645449
SAN ROCCO INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

San Rocco Investments Ltd is a private company limited by shares incorporated in Scotland. The registered office is Stirling House Basement floor, 226 St Vincent Street, Glasgow, United Kingdom, G2 5RQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
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:

Leasehold improvements
25% reducing balance

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.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
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.

SAN ROCCO INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
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.

1.9
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
SAN ROCCO INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Tangible fixed assets
Leasehold improvements
£
Cost
At 1 October 2023 and 30 September 2024
9,169
Depreciation and impairment
At 1 October 2023
4,837
Depreciation charged in the year
1,053
At 30 September 2024
5,890
Carrying amount
At 30 September 2024
3,279
At 30 September 2023
4,332
4
Investment property
2024
£
Fair value
At 1 October 2023
858,883
Revaluations
121,117
At 30 September 2024
980,000

The fair value of the investment properties have been arrived at on the basis of a valuation carried out at 30 September 2024 by the Director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
1
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1
45,204
SAN ROCCO INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
1,175
1,176
Taxation and social security
8,952
3,849
Other creditors
1,578
1,560
11,705
6,585
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each of £1 each
1
1
1
1
9
Fair value reserve
2024
2023
£
£
At the beginning of the year
-
-
Non distributable profits in the year
90,838
-
At the end of the year
90,838
-
10
Related party transactions
2024
2023
Amounts due to related parties
£
£
Other related parties
1,175
1,175

 

2024
2023
Amounts due from related parties
£
£
Key management personnel
-
203
Other information

Related party loans are unsecured, interest free and have no fixed terms of repayment.

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