Company Registration No. 02794956 (England and Wales)
ROSEVALE PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
ROSEVALE PROPERTIES LTD
CONTENTS
- 1 -
Page
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
Detailed profit and loss account
ROSEVALE PROPERTIES LTD
BALANCE SHEET
AS AT 30 NOVEMBER 2024
30 November 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
13,654,223
14,929,223
Current assets
Debtors
5
257,106
255,227
Cash at bank and in hand
743,688
66,324
1,000,794
321,551
Creditors: amounts falling due within one year
6
(1,369,258)
(1,905,113)
Net current liabilities
(368,464)
(1,583,562)
Total assets less current liabilities
13,285,759
13,345,661
Creditors: amounts falling due after more than one year
7
(12,237,650)
(12,161,000)
Net assets
1,048,109
1,184,661
Capital and reserves
Called up share capital
9
100
100
Other reserves
150,402
795,278
Profit and loss reserves
897,607
389,283
Total equity
1,048,109
1,184,661

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 November 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.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

ROSEVALE PROPERTIES LTD
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024
30 November 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 28 October 2025 and are signed on its behalf by:
Dr Urs Wehinger
Director
Company registration number 02794956 (England and Wales)
ROSEVALE PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
1
Accounting policies
Company information

Rosevale Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is C/o Lawrence Stephens Solicitors, 50 Farringdon Road, London, EC1M 3HE.

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 a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have a reasonable expectation the company will continue to have adequate resources to fund its working capital for the foreseeable future. The directors have carried out a detailed assessment of the viability of the company following to uncertainty over the current economic conditions due to worldwide increasing rate of inflation and interest rates. true

As a result of their review, the directors have taken appropriate measures to enable them to have a reasonable expectation that the company will have sufficient working capital for a period of at least 12 months from the date these financial statements have been approved.

On the basis of the above, the directors are of the opinion that there is no material uncertainty relating to going concern and therefore it is appropriate to prepare these financial statements on a going concern basis.

1.3
Turnover

Turnover comprises the fair value of the consideration received or receivable for rental income from properties owned during the year. Turnover is shown net of rent/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.

1.4
Investment properties

Investment properties are carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. Investment properties were revalued at their fair value as at 30 November 202 4. The valuers used rental yields to determine the current market price. Changes in fair value are recognised in profit or loss and are then transferred to non-distributable reserves as seen in other comprehensive income as these are unrealised gains or losses and not available for distribution.

ROSEVALE PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Borrowing costs

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis

ROSEVALE PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Valuation

In estimating the fair value of the investment property, the company engages third party qualified valuers to perform the valuation techniques and inputs to the model.

3
Employees

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

2024
2023
Number
Number
Total
2
2
4
Investment property
2024
£
Fair value
At 1 December 2023
14,929,223
Disposals
(1,275,000)
At 30 November 2024
13,654,223

Investment properties were valued by external valuers to their open market value as at 30 November 202 4.

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
13,226,876
13,857,000
Accumulated depreciation
-
-
Carrying amount
13,226,876
13,857,000
ROSEVALE PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
163,151
163,151
Other debtors
68,719
31,465
Prepayments and accrued income
25,236
60,611
257,106
255,227
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
8
1,196,000
1,842,274
Corporation tax
62,010
-
0
Other creditors
6,129
-
0
Accruals and deferred income
105,119
62,839
1,369,258
1,905,113
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
12,237,650
12,161,000
8
Loans and overdrafts
2024
2023
£
£
Bank loans
1,196,000
1,842,274
Loans from group undertakings and related parties
12,237,650
12,161,000
13,433,650
14,003,274
Payable within one year
1,196,000
1,842,274
Payable after one year
12,237,650
12,161,000

The bank loans are secured by fixed charges over the assets of the company.

ROSEVALE PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 8 -
9
Called share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
10
Related party transactions

The company has taken advantage of the exemption under section 1AC.35 of FRS102 disclosing transactions with wholly owned group undertakings.

11
Parent company

The ultimate parent is Falgor Comercial S.A, incorporated in Panama.

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