Rosemount Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03808367 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

ROSEMOUNT INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Thaker

SECRETARY:

Ruskin House Company Services Ltd

REGISTERED OFFICE:

44 Springfield Road

Horsham

West Sussex

RH12 2PD

BUSINESS ADDRESS:

Suite 26

Delta House

175-177 Borough High Street

London

London

SE1 1HR

REGISTERED NUMBER:

03808367 (England and Wales)

ACCOUNTANTS:

Hartley Fowler LLP

Chartered Accountants

44 Springfield Road

Horsham

West Sussex

RH12 2PD

FIXED ASSETS

Tangible assets

4

1,734

2,267

Investments

5

761

761

Investment property

6

6,569,588

4,903,921

6,572,083

4,906,949

CURRENT ASSETS

Stocks

2,302,503

2,302,503

Debtors

7

3,085,986

3,419,829

Cash at bank

118,110

16,885

5,506,599

5,739,217

CREDITORS

Amounts falling due within one year

8

7,724,899

5,957,446

NET CURRENT LIABILITIES

(2,218,300

)

(218,229

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,353,783

4,688,720

CREDITORS

Amounts falling due after more than one year

9

3,963,654

3,993,654

NET ASSETS

390,129

695,066

CAPITAL AND RESERVES

Called up share capital

338

338

Capital redemption reserve

652

652

Retained earnings

389,139

694,076

SHAREHOLDERS' FUNDS

390,129

695,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 on 20 December 2019 and were signed by:

R Thaker - Director

1.	STATUTORY INFORMATION

Rosemount Investments Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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"), the requirements of the Companies Act 2006 as

applicable to companies subject to the small companies regime and under the historical cost convention. The

disclosure requirement of section 1A of FRS 102 have been applied other than where additional disclosure is

required to show a true and fair view.

Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise

indicated. The financial statements are presented in sterling which is also the functional currency of the company

First time adoption of FRS 102

These financial statements are the first financial statements the company has prepared in accordance with

Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'

(FRS 102) as applied to smaller entities by the adoption of section 1A of FRS 102. The financial statements of the

Company for the year ended 31 March 2016 were prepared in accordance with Financial Reporting Standard for

Smaller Entities (effective April 2015) (FRSSE).

The reported financial position and financial performance for the previous year are not affected by the transition

to FRS 102.

Turnover

Turnover represents net invoiced sales of development properties or the rental income received from the

development properties, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current 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.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an

impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

Provisions

Provisions in respect of onerous contracts are recognised in the period when it becomes probable that there will

be a future outflow of funds resulting from past operations or events that can reasonably estimated.

The timing of recognition requires the application of judgement to existing facts and circumstances which can be

subject to change.Since the actual cash outflows can take place many years in the future, the carrying amounts

of provisions and liabilities are reviewed regularly and adjusted to take account of changing facts and

circumstances.

A change in estimate of a recognised provision or liability would result in a charge or credit to the profit and loss

account in the period in which the change in circumstances occurs.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

2,582

Additions

491

At 31 March 2019

3,073

DEPRECIATION

At 1 April 2018

315

Charge for year

1,024

At 31 March 2019

1,339

NET BOOK VALUE

At 31 March 2019

1,734

At 31 March 2018

2,267

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2018

and 31 March 2019

761

NET BOOK VALUE

At 31 March 2019

761

At 31 March 2018

761

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

4,903,921

Additions

1,665,667

At 31 March 2019

6,569,588

NET BOOK VALUE

At 31 March 2019

6,569,588

At 31 March 2018

4,903,921

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed by group undertakings

3,073,541

3,363,541

Other debtors

12,445

56,288

3,085,986

3,419,829

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

40,000

40,000

Trade creditors

91,300

91,300

Amounts owed to group undertakings

2,583,294

2,513,294

Taxation and social security

31,070

9,546

Other creditors

4,979,235

3,303,306

7,724,899

5,957,446

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

3,963,654

3,993,654

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

4,003,654

4,033,654

The bank loan is secured by way of a legal charge over the company's development property.

11.	RELATED PARTY DISCLOSURES

At the year end the company owed R Thaker, the director, £4,091,145 (2018: £2,820,158). This loan from the

director has no set repayment dates and is unsecured. An interest of 12% was charged to the amount

outstanding, £414,316 (2018: £306,959)

Rosemount Southwark Limited

At the year end, Rosemount Southwark Limited owed the company £3,073,541 (2018: £3,363,541). This balance

is unsecured, interest free and not subject to any specific repayment terms.

Rosemount (11) Limited

At the year end, the the company was owed an amount of £2,573,294 (2018: £2,513,294) from Rosemount (11)

Limited. This loan is unsecured, interest free and not subject to any specific repayment terms.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is R Thaker.