Registration number:
The Royce Trading Estate Management Company Limited
Chartered Accountants
Registration number:
The Royce Trading Estate Management Company Limited
Chartered Accountants
The Royce Trading Estate Management Company Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
The Royce Trading Estate Management Company Limited
Company Information
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Directors |
Mr E Q Drax Mr J R Drax Mrs L H Catford |
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Company secretary |
Mr J R Drax |
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Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Royce Trading Estate Management Company Limitedfor the Year Ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Royce Trading Estate Management Company Limited for the year ended 31 March 2025 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of The Royce Trading Estate Management Company Limited, as a body, in accordance with the terms of our engagement letter dated 11 December 2024. Our work has been undertaken solely to prepare for your approval the accounts of The Royce Trading Estate Management Company Limited and state those matters that we have agreed to state to the Board of Directors of The Royce Trading Estate Management Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Royce Trading Estate Management Company Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Royce Trading Estate Management Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of The Royce Trading Estate Management Company Limited. You consider that The Royce Trading Estate Management Company Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of The Royce Trading Estate Management Company Limited. 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 statutory accounts.
Chartered Accountants
34 High East Street
Dorchester
Dorset
DT1 1HA
The Royce Trading Estate Management Company Limited
(Registration number: 01827983)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Shareholders' funds |
100 |
100 |
For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Director
The Royce Trading Estate Management Company Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
The principal place of business is:
3rd Floor
18 Wells Street
London
W1T 3PG
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover represents amounts receivable for the management of the amenity premises on The Royce Trading Estate, Trafford Park, Manchester net of VAT.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
The Royce Trading Estate Management Company Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
Trade debtors
Trade debtors are amounts due from tenants in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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Prepayments |
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Other debtors |
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The Royce Trading Estate Management Company Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Related party transactions |
Summary of transactions with other related parties
Administration/consultancy fees of £12,000 (2024: £12,000) were payable by the company. At the balance sheet date the amount due to J R Drax was £nil (2024: £nil)
Parham Holdings Limited
(100% subsidiary of Beaulieu Property Management Limited)
The company is part of the Parham Holdings Limited VAT group election and pays its own VAT liability to Parham Holdings Limited to be included as part of the group VAT return and payment . At the balance sheet date the amount due from/(to) Parham Holdings Limited was £22,208 (2024: £17,279).
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Parent and ultimate parent undertaking |
The company is controlled by Parham Investment Limited. The company is a 70% subsidiary of Parham Holdings Limited via its subsidiary, Parham Investment Limited.
The ultimate parent undertaking is Beaulieu Property Management Limited, a company incorporated in England and Wales. The ultimate controlling party is Mr J R Drax (director), a director and sole shareholder of Beaulieu Property Management Limited.
The results of the company are not consolidated due to mutual trading nature in its operations and these accounts represent activities of this company only.