Roseoak Ltd - Accounts to registrar (filleted) - small 18.2

Roseoak Ltd - Accounts to registrar (filleted) - small 18.2

ROSEOAK LTD - Company Information

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REGISTERED NUMBER: 07322360 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

ROSEOAK LTD
Magma Audit LLP
Unit 2
Charnwood Edge Business Park
Syston Road
Leicester
LE7 4UZ








ROSEOAK LTD (REGISTERED NUMBER: 07322360)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ROSEOAK LTD

COMPANY INFORMATION
for the Year Ended 31 December 2020







DIRECTOR: Mr M I A Crane





REGISTERED OFFICE: 3 Vernon Court
Henson Way Telford Way Industrial Estate
Kettering
Northamptonshire
NN16 8PX





REGISTERED NUMBER: 07322360 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2
Charnwood Edge Business Park
Syston Road
Leicester
LE7 4UZ
Page 1
ROSEOAK LTD (REGISTERED NUMBER: 07322360)

BALANCE SHEET
31 December 2020

2020 2019
Notes £    £   
FIXED ASSETS
Investments 4 966,274 966,274

CURRENT ASSETS
Debtors 5 - 58,000

CREDITORS
Amounts falling due within one year 6 (684,396 ) (811,675 )
NET CURRENT LIABILITIES (684,396 ) (753,675 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
281,878
212,599

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 281,778 212,499
281,878 212,599

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

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

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2021 and were signed by:





Mr M I A Crane - Director


The notes form part of these financial statements

Page 2
ROSEOAK LTD (REGISTERED NUMBER: 07322360)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2020


1. STATUTORY INFORMATION

Roseoak Ltd is a private limited company, limited by shares, registered in England and Wales. Its registered office address is 3 Vernon Court, Henson Way Telford Way Industrial Estate, Kettering, Northamptonshire, NN16 8PX and the registered number is 07322360.

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.

Preparation of consolidated financial statements
The financial statements contain information about Roseoak Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Investment in the subsidiary company is held at cost less accumulated impairment losses.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


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ROSEOAK LTD (REGISTERED NUMBER: 07322360)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2020


2. ACCOUNTING POLICIES - continued
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Dividends
Equity dividends are recognised when they become legally payable. Interim dividends are recognised when paid. Final dividends are recognised when approved by the shareholders at an annual general meeting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2020
and 31 December 2020 966,274
NET BOOK VALUE
At 31 December 2020 966,274
At 31 December 2019 966,274

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Amounts owed by group undertakings - 58,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Amounts owed to group undertakings 651,296 684,296
Other creditors 33,100 127,379
684,396 811,675

7. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption conferred by FRS102 Section 33 'Related Party Disclosures' not to disclose transactions with other group entities whose voting rights are 100% controlled within the group.

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