REGISTERED NUMBER: SC611192 (Scotland)

ROSEVALE LETTING LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Giovanacci

REGISTERED OFFICE:

4 Newton Place

Glasgow

G3 7PR

REGISTERED NUMBER:

SC611192 (Scotland)

ACCOUNTANTS:

Benham Conway & Co

16 Royal Crescent

Glasgow

G3 7SL

FIXED ASSETS

Intangible assets

4

494,457

532,183

Tangible assets

5

46,352

53,004

540,809

585,187

CURRENT ASSETS

Debtors

6

34,795

15,037

Cash at bank and in hand

472,048

267,353

506,843

282,390

CREDITORS

Amounts falling due within one year

7

606,057

471,282

NET CURRENT LIABILITIES

(99,214

)

(188,892

)

TOTAL ASSETS LESS CURRENT LIABILITIES

441,595

396,295

CREDITORS

Amounts falling due after more than one year

8

(112,500

)

(161,758

)

PROVISIONS FOR LIABILITIES

(2,532

)

(8,163

)

NET ASSETS

326,563

226,374

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

326,562

226,373

SHAREHOLDERS' FUNDS

326,563

226,374

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 December 2025 and were signed by:

R Giovanacci - Director

1.	STATUTORY INFORMATION

Rosevale Letting Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Goodwill

Goodwill, being the amounts paid in connection with the acquisition of two businesses in 2019 and a business in 2024, is being amortised evenly over its estimated useful life of ten years or twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Leasehold improvements

-

20% on cost

Plant and machinery etc

-

25% on cost and 25% on reducing balance

Financial instruments

Basic financial instruments, including trade and other debtors, trade creditors and other creditors, bank loans and other loans that are classified as debt, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts are capitalised in the balance sheet. These assets are initially recognised at transaction price and are depreciated over their estimated useful lives.The interest element of these obligations is charged to the profit and loss account over the relevant period using the effective interest rate method.The capital element of future payments is treated as a liability.Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed assets investments

Fixed asset investments are stated at cost and reviewed for impairment as required.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

698,512

258

698,770

AMORTISATION

At 1 April 2024

166,379

208

166,587

Charge for year

37,676

50

37,726

At 31 March 2025

204,055

258

204,313

NET BOOK VALUE

At 31 March 2025

494,457

-

494,457

At 31 March 2024

532,133

50

532,183

5.	TANGIBLE FIXED ASSETS

Plant and

Leasehold

machinery

improvements

etc

Totals

£

£

£

COST

At 1 April 2024

8,997

135,056

144,053

Additions

-

92,019

92,019

Disposals

-

(153,893

)

(153,893

)

At 31 March 2025

8,997

73,182

82,179

DEPRECIATION

At 1 April 2024

5,822

85,227

91,049

Charge for year

1,799

35,610

37,409

Eliminated on disposal

-

(92,631

)

(92,631

)

At 31 March 2025

7,621

28,206

35,827

NET BOOK VALUE

At 31 March 2025

1,376

44,976

46,352

At 31 March 2024

3,175

49,829

53,004

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

14,766

7,080

Other debtors

20,029

7,957

34,795

15,037

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

37,500

37,500

Hire purchase contracts

-

5,089

Trade creditors

22,619

13,503

Taxation and social security

98,310

54,336

Other creditors

447,628

360,854

606,057

471,282

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

112,500

150,000

Hire purchase contracts

-

11,758

112,500

161,758

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

150,000

187,500

Hire purchase contracts

-

16,847

150,000

204,347

The company has provided a bond and floating charge over its assets in support of bank borrowings.

The company's director has provided a personal guarantee and signed a deed of subordination in connection with the company's bank borrowings.

Hire purchase creditors have security over related assets.

10.	OTHER FINANCIAL COMMITMENTS

11.	RELATED PARTY DISCLOSURES