Roseberry Property Development Company Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

Roseberry Property Development Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01904743 . The registered office is 21 Lodge Lane, Grays, Essex, RM17 5RY.

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.

The following principal accounting policies have been applied:

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 following conditions have been satisfied:

the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of consideration can be measured reliably;
it is probably that the company will receive this consideration due under the transactions; and
the costs incurred or to be in incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

the amount of revenue can be measured reliably;

it is probable that the company will receive the consideration due under the contract;

the stage of completion of the contract at the end of the reporting period can be measured reliably; and

the costs incurred and the costs to complete the contract can be measured reliably.

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Roseberry Property Development Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Depreciation is provided at the following rate:

Plant, fixtures & fittings	10% reducing balance
Furniture & equipment	15% reducing balance

2.4. Stocks and Work in Progress

Stock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stock is assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

...CONTINUED

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Roseberry Property Development Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Financial Instruments - continued

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Roseberry Property Development Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8. Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9. Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Land & Property
	Freehold	Plant, fixtures & fittings	Furniture & equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	1,837,277	9,869	717,024	2,564,170

As at 31 March 2025	1,837,277	9,869	717,024	2,564,170

Depreciation
As at 1 April 2024	-	9,357	481,466	490,823
Provided during the period	-	77	23,556	23,633

As at 31 March 2025	-	9,434	505,022	514,456

Net Book Value
As at 31 March 2025	1,837,277	435	212,002	2,049,714

As at 1 April 2024	1,837,277	512	235,558	2,073,347

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Roseberry Property Development Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 April 2024	1,000

As at 31 March 2025	1,000

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	1,000

As at 1 April 2024	1,000

6. Debtors

	2025	2024 as restated
	£	£
Due within one year
Prepayments and accrued income	6,100	5,677
Other debtors	96,781	129,748
VAT	-	15
Directors' loan accounts	9,504	-

	112,385	135,440

Included within debtors due within one year is a loan to Sally Butler, a shareholders, amounting to £9,504 (2024 - £206 credit). No interest has been charged on this loan.

7. Creditors: Amounts Falling Due Within One Year

	2025	2024 as restated
	£	£
Trade creditors	(111 )	361
Amounts owed to group undertakings	17,644	(8,961 )
Other creditors	2,059	3,962
Taxation and social security	14,946	35,117

	34,538	30,479

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Roseberry Property Development Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024 as restated
	£	£
Other timing differences	45,129	49,286

9. Related Party Transactions

As at the balance sheet date, the company owed £17,644 (2024 - £8,961 owed from) to its subsidiary company, The Fludyers Limited. No interest was charged on the outstanding amount during the year.

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		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,049,714		2,073,347
Investments	5		1,000		1,000

			2,050,714		2,074,347
CURRENT ASSETS
Stock		258,277		258,277
Debtors	6	112,385		135,440
Cash at bank and in hand		2,680,592		2,583,761

		3,051,254		2,977,478
Creditors: Amounts Falling Due Within One Year	7	(34,538 )		(30,479 )

NET CURRENT ASSETS (LIABILITIES)			3,016,716		2,946,999

TOTAL ASSETS LESS CURRENT LIABILITIES			5,067,430		5,021,346

Creditors: Amounts Falling Due After More Than One Year			(5,000,000 )		(5,000,000 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	8		(45,129 )		(49,286 )

NET ASSETS/(LIABILITIES)			22,301		(27,940 )

CAPITAL AND RESERVES
Called up share capital			1,000		1,000
Profit and Loss Account			21,301		(28,940 )

SHAREHOLDERS' FUNDS			22,301		(27,940)