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Registered number: 00764730
Rosehill Garage (Waltham Chase) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
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Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Statement of Changes in Equity 4
Notes to the Financial Statements 5—7
Page 1
Accountant's Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 December 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
22/08/2025
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203 West Street
Fareham
Hants
PO16 0EN
Page 1
Page 2
Balance Sheet
Registered number: 00764730
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 381,600 359,800
381,600 359,800
CURRENT ASSETS
Stocks 5 700 700
Debtors 6 29,184 33,856
Cash at bank and in hand 1,073 3,922
30,957 38,478
Creditors: Amounts Falling Due Within One Year 7 (519,742 ) (422,563 )
NET CURRENT ASSETS (LIABILITIES) (488,785 ) (384,085 )
TOTAL ASSETS LESS CURRENT LIABILITIES (107,185 ) (24,285 )
NET LIABILITIES (107,185 ) (24,285 )
CAPITAL AND RESERVES
Called up share capital 8 15,000 15,000
Share premium account 10,000 10,000
Revaluation reserve 10 390,349 361,349
Profit and Loss Account (522,534 ) (410,634 )
SHAREHOLDERS' FUNDS (107,185) (24,285)
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 22/08/2025 and were signed on its behalf by:
Mr Ronald Morgan
Director
22/08/2025
The notes on pages 5 to 7 form part of these financial statements.
Page 3
Page 4
Statement of Changes in Equity
Share Capital Share Premium Revaluation reserve Profit and Loss Account Total
£ £ £ £ £
As at 1 January 2023 15,000 10,000 361,349 (412,284 ) (25,935)
Profit for the year and total comprehensive income - - - 1,650 1,650
As at 31 December 2023 and 1 January 2024 15,000 10,000 361,349 (410,634 ) (24,285)
Loss for year - - - (111,900) (111,900 )
Net investment property revaluation reserve - - 29,000 - 29,000
Other comprehensive income for the year - - 29,000 - 29,000
Total comprehensive income for the year - - 29,000 (111,900 ) (82,900)
As at 31 December 2024 15,000 10,000 390,349 (522,534 ) (107,185)
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Page 5
Notes to the Financial Statements
1. General Information
Rosehill Garage (Waltham Chase) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00764730 . The registered office is Winchester Road, Waltham Chase, Southampton, Hants, SO32 2LX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Plant & Machinery 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 January 2024 439,000 67,316 506,316
Additions 25,400 - 25,400
As at 31 December 2024 464,400 67,316 531,716
...CONTINUED
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Depreciation
As at 1 January 2024 79,200 67,316 146,516
Provided during the period 3,600 - 3,600
As at 31 December 2024 82,800 67,316 150,116
Net Book Value
As at 31 December 2024 381,600 - 381,600
As at 1 January 2024 359,800 - 359,800
5. Stocks
2024 2023
£ £
Stock 700 700
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 28,805 2,556
Other debtors - 27,792
VAT 379 3,508
29,184 33,856
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,885 -
Other taxes and social security 14,492 -
Other creditors 306 16
Accruals and deferred income 2,101 255
Directors' loan accounts 493,958 422,292
519,742 422,563
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 15,000 15,000
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Ronald Morgan (422,292 ) (7,166 ) - - (493,958 )
The above loan is unsecured, interest free and repayable on demand.
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10. Reserves
Revaluation Reserve
£
As at 1 January 2024 361,349
Net investment property revaluation reserve 29,000
As at 31 December 2024 390,349
Page 7