Roseshire Estates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04001146 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

FOR

ROSESHIRE ESTATES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs M Baumgarten

SECRETARY:

Mrs M Baumgarten

REGISTERED OFFICE:

115 Craven Park Road

London

N15 6BL

REGISTERED NUMBER:

04001146 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

5

3,210

3,777

Investment property

6

2,500,000

2,500,000

2,503,210

2,503,777

CURRENT ASSETS

Debtors

7

237,952

243,692

Cash at bank and in hand

13,506

-

251,458

243,692

CREDITORS

Amounts falling due within one year

8

(128,084

)

(151,245

)

NET CURRENT ASSETS

123,374

92,447

TOTAL ASSETS LESS CURRENT LIABILITIES

2,626,584

2,596,224

CREDITORS

Amounts falling due after more than one year

9

(601,116

)

(610,187

)

PROVISIONS FOR LIABILITIES

(291,033

)

(260,398

)

NET ASSETS

1,734,435

1,725,639

CAPITAL AND RESERVES

Called up share capital

12

2

2

Fair value reserve

13

1,520,498

1,551,133

Retained earnings

13

213,935

174,504

SHAREHOLDERS' FUNDS

1,734,435

1,725,639

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

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

The director acknowledges her 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 and authorized for issue by the director and authorised for issue on 12 May 2021 and were signed by:

Mrs M Baumgarten - Director

1.	STATUTORY INFORMATION

Roseshire Estates Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent receivable, 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.

Fixtures and fittings

-

15% on reducing balance

Government grants

Government grants are accounted for using accrual model of accounting.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2019

and 31 May 2020

6,479

DEPRECIATION

At 1 June 2019

2,702

Charge for year

567

At 31 May 2020

3,269

NET BOOK VALUE

At 31 May 2020

3,210

At 31 May 2019

3,777

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2019

and 31 May 2020

2,500,000

NET BOOK VALUE

At 31 May 2020

2,500,000

At 31 May 2019

2,500,000

Fair value at 31 May 2020 is represented by:

£

Valuation in 2008

304,000

Valuation in 2017

1,507,531

Cost

688,469

2,500,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

1,023

17,292

Other debtors

236,929

226,400

237,952

243,692

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Bank loans and overdrafts (see note 10)

-

846

Taxation and social security

60,271

41,975

Other creditors

67,813

108,424

128,084

151,245

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.20

31.5.19

£

£

Bank loans (see note 10)

601,116

610,187

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

354,902

354,902

Repayable by instalments

Bank loans more 5 yr by instal

246,214

255,285

10.

LOANS

An analysis of the maturity of loans is given below:

31.5.20

31.5.19

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

846

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

354,902

354,902

Repayable by instalments

Bank loans more 5 yr by instal

246,214

255,285

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.20

31.5.19

£

£

Bank overdraft

-

846

Bank loans

601,116

610,187

601,116

611,033

Bank loans and overdraft are secured by the first charge over company's investment properties and bear interest at variable rates.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.20

31.5.19

value:

£

£

2

Ordinary

£1

2

2

13.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 June 2019

174,504

1,551,133

1,725,637

Profit for the year

32,796

32,796

Dividends

(24,000

)

(24,000

)

Fair value gain/loss

30,635

(30,635

)

-

At 31 May 2020

213,935

1,520,498

1,734,433

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs M Baumgarten.