General Information
Elate Rose Limited is a private company, limited by shares, registered in England and Wales, registration number 09972337, registration address Unit 2 Sherbrook Enterprise, 100 Sherbrook Road, Daybrook, Nottingham, NG5 6AB.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
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)
Revenue Recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
25% Reducing Balance
|
| Computer Equipment |
33.3% Straight Line
|
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 4 (2024 : 4).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Computer Equipment |
|
Investment properties |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 February 2024 |
175 |
|
1,218 |
|
475,000 |
|
476,393 |
| Additions |
- |
|
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
|
- |
| At 31 January 2025 |
175 |
|
1,218 |
|
475,000 |
|
476,393 |
| Depreciation |
| At 01 February 2024 |
15 |
|
685 |
|
- |
|
700 |
| Charge for year |
43 |
|
356 |
|
- |
|
399 |
| On disposals |
- |
|
- |
|
- |
|
- |
| At 31 January 2025 |
58 |
|
1,041 |
|
- |
|
1,099 |
| Net book values |
| Closing balance as at 31 January 2025 |
117 |
|
177 |
|
475,000 |
|
475,294 |
| Opening balance as at 01 February 2024 |
160 |
|
533 |
|
475,000 |
|
475,693 |
Tangible fixed assets included at valuation would have been included on an historical cost basis at £450,544 (2024: £450,544). The investment properties are revalued annually by a professional and the directors on an open market value basis, and consider themselves able to do so given their expertise and knowledge of the investment property market.
|
| 4. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
566 |
|
2,044 |
|
566 |
|
2,044 |
|
| 5. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
0 |
|
1,813 |
| Corporation Tax |
1,973 |
|
1,916 |
| PAYE & Social Security |
141 |
|
158 |
| Accrued Expenses |
2,907 |
|
3,079 |
| Other Creditors |
600 |
|
600 |
| Wages & Salaries Control Account |
400 |
|
0 |
| Directors' Current Accounts |
336,376 |
|
343,361 |
|
342,397 |
|
350,927 |
|
| 6. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
1,812 |
|
1,858 |
|
1,812 |
|
1,858 |
|
| 7. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
100
Ordinary shares of £1.00 each |
100 |
|
100 |
|
100 |
|
100 |
|
3
|