Company registration number 03866855 (England and Wales)
ROSY PELICAN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ROSY PELICAN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ROSY PELICAN LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,821
3,434
Investment properties
5
2,129,950
2,055,000
Investments
4
10,981
10,981
2,143,752
2,069,415
Current assets
Debtors
6
14,655
63,573
Cash at bank and in hand
191
574
14,846
64,147
Creditors: amounts falling due within one year
7
(651,301)
(698,712)
Net current liabilities
(636,455)
(634,565)
Total assets less current liabilities
1,507,297
1,434,850
Creditors: amounts falling due after more than one year
8
(2,276,455)
(2,254,023)
Net liabilities
(769,158)
(819,173)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(769,160)
(819,175)
Total equity
(769,158)
(819,173)

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.

ROSY PELICAN LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

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

The financial statements were approved by the board of directors and authorised for issue on 27 June 2025 and are signed on its behalf by:
Mr D Mayhall
Director
Company Registration No. 03866855
ROSY PELICAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Rosy Pelican Limited is a private company limited by shares incorporated in England and Wales. The registered office is 60 Hallgate, Wigan, Lancashire, WN1 1HP.

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 investment properties. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is dependant upon the continued support of Mr D Mayhall, companies under common control and other creditors, via the provision of interest free loans. An undertaking has been given that these facilities, will not be sought until such time that retained profits are in surplus.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received for rental services provided in the normal course of business.

1.4
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% straight line
Motor vehicles
25% Straight line

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.

1.5
Investment properties

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.

ROSY PELICAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments

Interests in subsidiaries 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.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

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

2024
2023
Number
Number
Total
4
3
ROSY PELICAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023
43,488
Additions
407
At 30 September 2024
43,895
Depreciation and impairment
At 1 October 2023
40,054
Depreciation charged in the year
1,020
At 30 September 2024
41,074
Carrying amount
At 30 September 2024
2,821
At 30 September 2023
3,434
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
10,981
10,981
5
Investment property
2024
£
Fair value
At 1 October 2023
2,055,000
Revaluations
74,950
At 30 September 2024
2,129,950

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 29th 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.

 

Investment properties with a net carrying amount of £2,129,950 (2023 - £2,055,000) have been provided as security for the mortgages and loans included in note 8.

No depreciation is provided in respect of these properties.

ROSY PELICAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
5
Investment property
(Continued)
- 6 -
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
954,388
954,388
Accumulated depreciation
-
-
Carrying amount
954,388
954,388
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
7,003
20,082
Other debtors
7,652
43,491
14,655
63,573

The amounts owed by related parties (included in other debtors) are interest free, with no security and no fixed repayment terms.

7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8,000
8,000
Trade creditors
111,706
107,876
Amounts due to companies under common control
9,628
9,628
Other taxation and social security
55,641
42,780
Other creditors
466,326
530,428
651,301
698,712

The amounts owed to companies under common control and related parties (included in other creditors) are interest free, with no security and no fixed repayment terms.

8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,493,274
1,470,842
Other creditors
783,181
783,181
2,276,455
2,254,023
ROSY PELICAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
8
Creditors: amounts falling due after more than one year
(Continued)
- 7 -

Included in creditors within and after more than one year, are mortgages and loans amounting to £1,493,274 (2023 - £1,470,842) which are secured on the Investment properties - see Note 5.

 

There are 36 legal charges dated between 2001 - 2024 securing the mortgages and loans against the Investment properties.

9
Related party transactions

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Entities over which the entity has control, joint control or significant influence
9,628
9,268
Other related parties
85,772
79,754
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