Roydhouse Properties Limited 30/06/2020 iXBRL

ROYDHOUSE PROPERTIES LIMITED - Company Information

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Company registration number: 08033191

Roydhouse Properties Limited

Unaudited filleted financial statements

30 June 2020

Roydhouse Properties Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Roydhouse Properties Limited

Directors and other information


Directors	Mr A S Cormack	(Resigned 5 September 2020)
	Mr D A Hodkin


Company number	08033191


Registered office	4 Greenfield Road
	Holmfirth
	West Yorkshire
	HD9 2JT


Accountants	Langricks (Holmfirth) Limited
	4 Greenfield Road
	Holmfirth
	West Yorkshire
	HD9 2JT




	Bankers	Handlesbanken
		12 Longbow Close
		Pennine Business Park
		Bradley, Huddersfield
		HD2 1GQ

Roydhouse Properties Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Roydhouse Properties Limited

Year ended 30 June 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Roydhouse Properties Limited for the year ended 30 June 2020 which comprise the statement of financial position and related notes 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, 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 Roydhouse Properties 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 financial statements of Roydhouse Properties Limited and state those matters that we have agreed to state to the board of directors of Roydhouse Properties Limited as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Roydhouse Properties Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Roydhouse Properties 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 Roydhouse Properties Limited. You consider that Roydhouse Properties 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 Roydhouse Properties 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.

Langricks (Holmfirth) Limited

Chartered Accountants

4 Greenfield Road

Holmfirth

West Yorkshire

HD9 2JT

17 June 2021

Roydhouse Properties Limited

Statement of financial position

30 June 2020

		2020		2019
	Note	£	£	£	£

Fixed assets
Tangible assets	5	1,100,000		1,100,000
		_______		_______
			1,100,000		1,100,000

Current assets
Debtors	7	161,895		173,278
Cash at bank and in hand		30,286		98,830
		_______		_______
		192,181		272,108
Creditors: amounts falling due
within one year	8	( 342,159)		( 437,740)
		_______		_______
Net current liabilities			( 149,978)		( 165,632)
			_______		_______
Total assets less current liabilities			950,022		934,368

Creditors: amounts falling due
after more than one year	9		( 328,200)		( 379,000)
			_______		_______
Net assets			621,822		555,368
			_______		_______

Capital and reserves
Called up share capital			200		200
Profit and loss account	10		621,622		555,168
			_______		_______
Shareholders funds			621,822		555,368
			_______		_______

For the year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 17 June 2021 , and are signed on behalf of the board by:

Mr D A Hodkin

Director

Company registration number: 08033191

Roydhouse Properties Limited

Notes to the financial statements

Year ended 30 June 2020

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 4 Greenfield Road, Holmfirth, West Yorkshire, HD9 2JT.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is not available without undue cost or effort it shall be transferred to tangible assets and accounted for under the cost model until it is expected that fair value will be reliably measurable on an on-going basis.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2 0 19: Nil).

5. Tangible assets

	Freehold property	Fixtures, fittings and equipment	Total
	£	£	£
Cost
At 1 July 2019 and 30 June 2020	1,100,000	20,264	1,120,264
	_______	_______	_______
Depreciation
At 1 July 2019 and 30 June 2020	-	20,264	20,264
	_______	_______	_______
Carrying amount
At 30 June 2020	1,100,000	-	1,100,000
	_______	_______	_______
At 30 June 2019	1,100,000	-	1,100,000
	_______	_______	_______

Investment property

In the opinion of the directors the value of the investment property has not changed.

6. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 1 July 2019 and 30 June 2020	200,000	200,000
	_______	_______
Impairment
At 1 July 2019 and 30 June 2020	200,000	200,000
	_______	_______
Carrying amount
At 30 June 2020	-	-
	_______	_______
At 30 June 2019	-	-
	_______	_______

7. Debtors

	2020	2019
	£	£
Trade debtors	2,371	20,396
Other debtors	159,524	152,882
	_______	_______
	161,895	173,278
	_______	_______

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	50,800	50,800
Trade creditors	1,968	19,047
Amounts owed to group undertakings and undertakings in which the company has a participating interest	92,099	137,929
Social security and other taxes	11,483	13,313
Other creditors	185,809	216,651
	_______	_______
	342,159	437,740
	_______	_______

9. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Bank loans and overdrafts	328,200	379,000
	_______	_______

10. Reserves

Profit and loss account:This reserve records retained earnings and accumulated losses.

11. Related party transactions

The company has applied the exemption from disclosure of transactions with the 100% group companies.The company is related to the shareholders and at 30 June 2020 the company owed £227 (2019: £227) to the shareholders and is included within creditors.

12. Controlling party

The company is under the control of the directors, and there is no individual who has a controlling interest in the company.