Roseaton Limited - Period Ending 2019-10-31

Registration number: 04983507

Roseaton Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2019

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Roseaton Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 7

Roseaton Limited

Company Information

Director

Mrs J Lockyer Mr J W Lockyer

Company secretary

Mrs J Lockyer

Registered office

7 Buttlegate Downderry Torpoint Cornwall PL11 3NQ

Accountants

Houndiscombe Consultants Limited T/A Condy Mathias Chartered Accountants 6 Houndiscombe Road Plymouth Devon PL4 6HH

Page 1

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Roseaton Limited
for the Year Ended 31 October 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Roseaton Limited for the year ended 31 October 2019 as set out on pages 3 to 7 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/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Roseaton Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Roseaton Limited and state those matters that we have agreed to state to the Board of Directors of Roseaton 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 Roseaton Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Roseaton 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 profit of Roseaton Limited. You consider that Roseaton 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 Roseaton 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.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

11 February 2020

Page 2

Roseaton Limited

(Registration number: 04983507)
Balance Sheet as at 31 October 2019

	Note	2019 £	2018 £
Fixed assets
Investments	4	400,000	400,000
Other financial assets		4,666	4,666
		404,666	404,666
Current assets
Debtors	5	1,340,353	1,248,440
Cash at bank and in hand		52,717	88,069
		1,393,070	1,336,509
Creditors: Amounts falling due within one year	6	(125,886)	(60,965)
Net current assets		1,267,184	1,275,544
Total assets less current liabilities		1,671,850	1,680,210
Provisions for liabilities		-	(92)
Net assets		1,671,850	1,680,118
Capital and reserves
Called up share capital		600	600
Share premium reserve		399,600	399,600
Profit and loss account		1,271,650	1,279,918
Total equity		1,671,850	1,680,118

The notes on pages 5 to 7 form an integral part of these financial statements.

Page 3

Roseaton Limited

(Registration number: 04983507)
Balance Sheet as at 31 October 2019

For the financial year ending 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 11 February 2020
 

.........................................

Mr J W Lockyer
Director

The notes on pages 5 to 7 form an integral part of these financial statements.

Page 4

Roseaton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
7 Buttlegate
Downderry
Torpoint
Cornwall
PL11 3NQ
United Kingdom

2	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 using the historic cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Page 5

Roseaton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2018 - 2).

4	Investments

	2019 £	2018 £
Investments in subsidiaries	400,000	400,000

Subsidiaries	£	£
Cost or valuation
At 1 November 2018	400,000	400,000
Carrying amount
At 31 October 2019	400,000	400,000

Other investments

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2019	2018
Subsidiary undertakings
James Lockyer Associates Limited	4 Oakland Mews Owen Sivell Close Liskeard Cornwall PL14 3UX	Ordinary £1 shares	100%	100%
	England
James Lockyer Developments Limited	7 Buttlegate Downderry Torpoint Cornwall PL11 3NQ	Ordinary £1 shares	100%	100%
	England

Page 6

Roseaton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019

Subsidiary undertakings

James Lockyer Associates Limited The principal activity of James Lockyer Associates Limited is Engineering Consultants.

James Lockyer Developments Limited The principal activity of James Lockyer Developments Limited is Property Management.

Other investments

The market value of the listed investments at 31 October 2019 was £4,666 (2018 - £4,666).

5

Debtors

	Note	2019 £	2018 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest		200,355	248,124
Other debtors		1,139,998	1,000,316
		1,340,353	1,248,440

6

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Accruals and deferred income	900	709
Other creditors	124,986	60,256
	125,886	60,965

Page 7