Company No: 12985593 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	C H Barton
	T R Hardick
	A J Newing

REGISTERED OFFICE	Centenary House Peninsula Park
	Rydon Lane
	Exeter
	EX2 7XE
	United Kingdom

BUSINESS ADDRESS

The Old Barn, Ipplepen, Newton Abbot Devon, TQ12 5TT

COMPANY NUMBER

12985593 (England and Wales)

CHARTERED ACCOUNTANTS	Francis Clark LLP
	Centenary House
	Peninsula Park
	Rydon Lane
	Exeter
	Devon EX2 7XE

	Note	31.12.2021
		£
Fixed assets
Intangible assets	3	414,625
Tangible assets	4	4,157,697
		4,572,322
Current assets
Debtors	5	1,711,463
Cash at bank and in hand		89,861
		1,801,324
Creditors
Amounts falling due within one year	6	( 6,479,121)
Net current liabilities		(4,677,797)
Total assets less current liabilities		(105,475)
Provision for liabilities		( 3,850)
Net liabilities		( 109,325)
Capital and reserves
Called-up share capital	7	100
Profit and loss account		( 109,425 )
Total shareholders' deficit		( 109,325)

For the financial period ending 31 December 2021 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 financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Ross Park Homes Limited (registered number: 12985593) were approved and authorised for issue by the Board of Directors on 28 October 2022. They were signed on its behalf by:

T R Hardick Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Ross Park Homes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal trading address is The Old Barn, Ipplepen, Newton Abbot Devon, TQ12 5TT.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There have been no material departures from FRS102.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of consideration receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Government grants

Grant income is included in other operating income. It comprises the fair value of the consideration received or receivable for the period.

During the period, the business received grants relating to Coronavirus Job Retention Scheme (CJRS) and Local Authority Grants.

The total of grants received during the period amounted to £41,149.

2. Employees

	Period from 30.10.2020 to 31.12.2021
	Number
Monthly average number of persons employed by the Company during the period, including directors	7

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 30 October 2020	0		0
Additions	465,000		465,000
At 31 December 2021	465,000		465,000
Accumulated amortisation
At 30 October 2020	0		0
Charge for the financial period	50,375		50,375
At 31 December 2021	50,375		50,375
Net book value
At 31 December 2021	414,625		414,625

4. Tangible assets

	Land and buildings		Plant and machinery		Total
	£		£		£
Cost
At 30 October 2020	0		0		0
Additions	4,942,207		18,596		4,960,803
Disposals	( 800,000)		0		( 800,000)
At 31 December 2021	4,142,207		18,596		4,160,803
Accumulated depreciation
At 30 October 2020	0		0		0
Charge for the financial period	0		3,106		3,106
At 31 December 2021	0		3,106		3,106
Net book value
At 31 December 2021	4,142,207		15,490		4,157,697

5. Debtors

	31.12.2021
	£
Trade debtors	1,608,653
Other debtors	102,810
	1,711,463

6. Creditors: amounts falling due within one year

	31.12.2021
	£
Bank loans (secured)	1,797,243
Trade creditors	17,454
Amounts owed to Group undertakings	2,622,143
Other taxation and social security	4,854
Other creditors	2,037,427
	6,479,121

The bank loans are secured by way of fixed and floating charges over the property and undertaking of the company.

7. Called-up share capital

	31.12.2021
	£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100

During the period 100 ordinary shares were issued at par.