Registered number
SC464777
Rossco Properties (Commercial) Limited
Filleted Accounts
31 March 2025
Rossco Properties (Commercial) Limited
Registered number: SC464777
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Investments 3 370,000 370,000
Current assets
Debtors 4 211,227 1,802,602
Cash at bank and in hand 3,779 10,846
215,006 1,813,448
Creditors: amounts falling due within one year 5 (22,835) (10,507)
Net current assets 192,171 1,802,941
Total assets less current liabilities 562,171 2,172,941
Creditors: amounts falling due after more than one year 6 - (1,600,000)
Net assets 562,171 572,941
Capital and reserves
Called up share capital 12 12
Profit and loss account 562,159 572,929
Shareholder's funds 562,171 572,941
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Simon M Howie
Director
Approved by the board on 9 July 2025
Rossco Properties (Commercial) Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Fair value
At 1 April 2024 370,000
At 31 March 2025 370,000
Historical cost
At 1 April 2024 762,364
At 31 March 2025 762,364
The company's investment properties have been revalued by the director, Simon Howie, as at 31 March 2025.
4 Debtors 2025 2024
£ £
Trade debtors 3,625 -
Other debtors 207,602 1,802,602
211,227 1,802,602
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 11,502 2,766
Taxation and social security costs - 927
Other creditors 11,333 6,814
22,835 10,507
6 Creditors: amounts falling due after one year 2025 2024
£ £
0.25% irredeemable unsecured loan stock - 1,600,000
7 Loans 2025 2024
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years - 1,600,000
8 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 267,167 274,167
9 Related party transactions
The company has loaned £206,500 to a company controlled by the director.
10 Controlling party
The company was under the control of Mr Simon Howie throughout the year.
11 Other information
Rossco Properties (Commercial) Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
Findony
Muckhart Road
Dunning
Perthshire
PH2 0RA
Rossco Properties (Commercial) Limited SC464777 false 2024-04-01 2025-03-31 2025-03-31 VT Final Accounts April 2025 Simon M Howie No description of principal activity SC464777 2023-04-01 2024-03-31 SC464777 core:WithinOneYear 2024-03-31 SC464777 core:AfterOneYear 2024-03-31 SC464777 core:ShareCapital 2024-03-31 SC464777 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC464777 core:AllPeriods 2024-03-31 SC464777 2024-04-01 2025-03-31 SC464777 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC464777 bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 SC464777 bus:Director40 2024-04-01 2025-03-31 SC464777 1 2024-04-01 2025-03-31 SC464777 2 2024-04-01 2025-03-31 SC464777 countries:England 2024-04-01 2025-03-31 SC464777 bus:FRS102 2024-04-01 2025-03-31 SC464777 bus:FilletedAccounts 2024-04-01 2025-03-31 SC464777 2025-03-31 SC464777 core:WithinOneYear 2025-03-31 SC464777 core:AfterOneYear 2025-03-31 SC464777 core:ShareCapital 2025-03-31 SC464777 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC464777 core:AllPeriods 2025-03-31 SC464777 2024-03-31 iso4217:GBP xbrli:pure