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REGISTERED NUMBER: 10629506 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

ROSE & GRACE ASSOCIATES LTD

ROSE & GRACE ASSOCIATES LTD (REGISTERED NUMBER: 10629506)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ROSE & GRACE ASSOCIATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTORS: Mr L B Da Gama
Mrs J J Ventura





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 10629506 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

ROSE & GRACE ASSOCIATES LTD (REGISTERED NUMBER: 10629506)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 997 1,329
Investment property 5 559,086 559,086
560,083 560,415

CURRENT ASSETS
Debtors 6 1,131 -
Cash at bank 14,015 4,689
15,146 4,689
CREDITORS
Amounts falling due within one year 7 851,727 861,134
NET CURRENT LIABILITIES (836,581 ) (856,445 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(276,498

)

(296,030

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (276,598 ) (296,130 )
(276,498 ) (296,030 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 July 2025 and were signed on its behalf by:





Mr L B Da Gama - Director


ROSE & GRACE ASSOCIATES LTD (REGISTERED NUMBER: 10629506)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1. STATUTORY INFORMATION

Rose & Grace Associates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

TURNOVER
Turnover represents the value of rental income chargeable in respect of the company's investment property. Turnover is recognised evenly over the period of the rental agreement.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

INVESTMENT PROPERTY
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the profit for the financial year would have been decreased by the amount of depreciation.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

ROSE & GRACE ASSOCIATES LTD (REGISTERED NUMBER: 10629506)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 29 February 2024
and 28 February 2025 4,200
DEPRECIATION
At 29 February 2024 2,871
Charge for year 332
At 28 February 2025 3,203
NET BOOK VALUE
At 28 February 2025 997
At 28 February 2024 1,329

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 29 February 2024
and 28 February 2025 559,086
NET BOOK VALUE
At 28 February 2025 559,086
At 28 February 2024 559,086

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Prepayments 1,131 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 286 217
Directors' current accounts 842,971 859,555
Accruals and deferred income 7,040 -
Accrued expenses 1,430 1,362
851,727 861,134

8. RELATED PARTY DISCLOSURES

Included in creditors falling due within one year, is an interest free loan of of £842,971 (2024: £859,555) due to the director Mr L B Da Gama.

9. ULTIMATE CONTROLLING PARTY

During the current and prior year there was no ultimate controlling party.