1.
General Information
Rocco Homes (No.27) Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
10716636
. The registered office is 2nd Floor, 45-47 High Street, Cobham, Surrey, KT11 3DP.
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.
Going Concern Disclosure
During the period, the company incurred profits in the amount of £16,241 and at the balance sheet date, the company's liabilities exceeded its assets by £135,916.
The company has achieved sufficient rental income from its investment properties to maintain profitability in the current and future years.
The shareholders have confirmed their continued financial support for the company for at least the 12 month period following the date of these financial statements.
The directors have prepared budgets and cash flows for a period of at least twelve months from the date of the approval of the financial statements which demonstrate that there is no material uncertainty regarding the company's ability to meet its liabilities as they fall due, and to continue as a going concern. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. Accordingly, these financial statements do not include any adjustments to the carrying amounts and classification of assets and liabilities that may arise if the company was unable to continue as a going concern.
2.3.
Investment Properties
Investment properties are properties owned by the company that are held for long-term rental income or for capital appreciation or both.
Investment properties are initially recognised at cost, including transaction costs when ownership of the property is transferred. Where recognition criteria are met, the carrying value includes subsequent costs to add to or replace part of an investment property. Subsequent to initial recognition, investment properties are stated at fair value, which reflects market conditions at the reporting date.
Gains or losses arising from changes in the fair values of investment properties are included in profit or loss of the statement of comprehensive income in the period in which they arise.
The fair value of the company's investment properties are based on the estimate of the directors having reviewed information available in the market for properties of a similar type and location.
2.4.
Financial Instruments
Share Capital of the Company
Ordinary Share Capital
The ordinary share capital of the company is presented as equity.
Cash and cash equivalents
Cash consists of cash on hand and demand deposits. Cash equivalents consist of short term highly liquid investments that are readily convertible to known amounts of cash that are subject to an insignificant risk of change in value.
Other financial assets
Other financial assets including trade debtors for goods or services sold to customers on short-term credit, are initially measured at the undiscounted amount of cash receivable from that customer, which is normally the invoice price, and are subsequently measured at amortised cost less impairment, where there is objective evidence of an impairment.
Loans and borrowings
All loans and borrowings, both assets and liabilities are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one year or on demand are not amortised. Loans and borrowings are classified as current assets or liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least twelve months after the financial year end date.
Other financial liabilities
Trade creditors are measured at invoice price, unless payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. In this case the arrangement constitutes a financing transaction, and the financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Rocco Homes (No.27) Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
2.5.
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.
2.6.
Income
Rental income revenue is recognised to the extent that it is probable that the economic benefit will flow to the company and the revenue can be reliably measured.
Revenue comprising rental income is measured as the fair value of the consideration received and receivable, excluding discount rebates, value added tax and other sales taxes and is shown as 'Other operating income'.
2.7.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
4.
Investment Property
| 2025 | |
|---|---|
| £ | |
| Fair Value | |
| As at 1 July 2024 |
|
| Additions |
|
| As at 30 June 2025 |
|
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Cost | 2,624,105 | 2,623,205 | |
Rocco Homes (No.27) Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
5.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Other debtors |
|
|
|
| Deferred tax current asset | 43,218 | 48,631 | |
| VAT | - |
|
|
|
|
|
||
6.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| VAT |
|
- | |
| Other creditors |
|
|
|
| Amounts owed to related parties |
|
|
|
|
|
|
||
7.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
9.
Reserves
| Profit and Loss Account | |
|---|---|
| £ | |
| As at 1 July 2024 |
( |
| Profit for the year and total comprehensive income |
|
| As at 30 June 2025 |
( |
Rocco Homes (No.27) Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 June 2025
10.
Related Party Transactions
Debtors/(Creditors)
|
Debtors (Creditors)
|
01.07.2024
£
|
Advances/Interest
£
|
Repayments
£
|
30.06.2025
£
|
|
Hector Properties Limited
|
(659,000)
|
(204,500)
|
-
|
(863,500)
|
|
Rocco Homes Limited
|
(1,592,972)
|
-
|
1,350,322
|
(242,650)
|
|
Queensbury Investments Limited
|
(573,750)
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
-
|
324,000
|
(249,750)
|
|
(2,825,722)
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
(204,500)
|
1,674,322
|
(1,355,900)
|
Rocco Homes Limited is related as R Clarke and G Clarke are directors and shareholders in that company.
Queensbury Investments Limited is related as it is a shareholder in Rocco Homes (No.27) Limited.
Hector Properties Limited is related as Queensbury Investments Limited, R Clarke and G Clarke are shareholders in that company.
All loans are unsecured and repayable on demand. Certain loans are interest-bearing.
11.
Ultimate Controlling Party
In the opinion of the directors, the company is not controlled by any single party.