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

REGISTERED NUMBER: SC173177 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Rosie Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

S G Brown

Mrs M A Brown

SECRETARY:

S G Brown

REGISTERED OFFICE:

12A Hope Street

St. Andrews

Fife

KY16 9HJ

REGISTERED NUMBER:

SC173177 (Scotland)

ACCOUNTANTS:

Lyon & Co.

82b East Main Street

Broxburn

EH52 5EG

BANKERS:

Royal Bank of Scotland

113 - 115 South Street

St Andrews

KY16 9QB

FIXED ASSETS

Tangible assets

4

1,017,357

1,017,727

CURRENT ASSETS

Debtors

5

-

14,894

Cash at bank

18

2,032

18

16,926

CREDITORS

Amounts falling due within one year

6

77,165

77,872

NET CURRENT LIABILITIES

(77,147

)

(60,946

)

TOTAL ASSETS LESS CURRENT LIABILITIES

940,210

956,781

CREDITORS

Amounts falling due after more than one year

7

(282,697

)

(319,847

)

PROVISIONS FOR LIABILITIES

(32,000

)

(32,000

)

NET ASSETS

625,513

604,934

CAPITAL AND RESERVES

Called up share capital

82,850

82,850

Retained earnings

542,663

522,084

SHAREHOLDERS' FUNDS

625,513

604,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 31 December 2020 and were signed on its behalf by:

S G Brown - Director

1.	STATUTORY INFORMATION

Rosie Investments Limited 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

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.

Investment properties

Investment properties are shown at their open market value. The surplus or deficit arising from revaluation is recognised in the profit and loss account for the year.

This is in accordance with the FRS 102 Section 1A, which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and their current value is of prime importance. This departure from the provisions of the Companies Act is required in order to give a true and fair view.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2019

and 31 March 2020

1,016,250

12,382

1,028,632

DEPRECIATION

At 1 April 2019

-

10,905

10,905

Charge for year

-

370

370

At 31 March 2020

-

11,275

11,275

NET BOOK VALUE

At 31 March 2020

1,016,250

1,107

1,017,357

At 31 March 2019

1,016,250

1,477

1,017,727

Cost or valuation at 31 March 2020 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2016

84,088

-

84,088

Valuation in 2007

233,685

-

233,685

Cost

698,477

12,382

710,859

1,016,250

12,382

1,028,632

If Land and buildings had not been revalued they would have been included at the following historical cost:

31.3.20

31.3.19

£

£

Cost

698,477

698,477

Land and buildings were valued on an open market value basis on 31 March 2020 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Other debtors

-

14,894

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

38,246

36,915

Amounts owed to group undertakings

15,445

17,600

Taxation and social security

4,914

7,626

Other creditors

18,560

15,731

77,165

77,872

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans

282,697

319,847

31.3.20

31.3.19

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

115,697

157,847

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Bank loans

320,943

356,762

The bank have a bond and floating charge over the assets of the company and a fixed security over heritable property.

9.	RELATED PARTY DISCLOSURES

Hermitage Investments Limited owns the entire share capital of the company.The directors are the ultimate controlling parties through their shareholdings in Hermitage Investments Limited.

At the year end the company is due £15,445 (2019 £17,600) to Hermitage Investments Limited this loan is unsecured, bears no interest and has no fixed repayment terms.

Eve Brown Limited provided property management services to the company in the normal course of business and at no charge. Included in Other creditors is £3,120 due to Eve Brown Limited (2019 £14,894 due from Eve Brown Limited) at the year end. The loan is unsecured, bears no fixed interest and has no fixed repayment terms.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rosie Investments Limited for the year ended 31 March 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Rosie Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rosie Investments Limited and state those matters that we have agreed to state to the Board of Directors of Rosie Investments Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rosie Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rosie Investments Limited. You consider that Rosie Investments 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 financial statements of Rosie Investments 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 financial statements.

Lyon & Co.

82b East Main Street

Broxburn

EH52 5EG

31 December 2020