S & C Rose Properties Limited Filleted accounts for Companies House (small and micro)

S & C ROSE PROPERTIES LIMITED - Company Information

2 false false false false false false false false false true false false false false false false No description of principal activity 2020-05-01 Sage Accounts Production Advanced 2021 - FRS102_2021 149,312 149,312 149,312 xbrli:pure xbrli:shares iso4217:GBP 09542194 2020-05-01 2021-04-30 09542194 2021-04-30 09542194 2019-05-01 2020-04-30 09542194 2020-04-30 09542194 bus:Director2 2020-05-01 2021-04-30 09542194 core:AfterOneYear 2021-04-30 09542194 core:AfterOneYear 2020-04-30 09542194 core:WithinOneYear 2021-04-30 09542194 core:WithinOneYear 2020-04-30 09542194 core:ShareCapital 2021-04-30 09542194 core:ShareCapital 2020-04-30 09542194 core:RetainedEarningsAccumulatedLosses 2021-04-30 09542194 core:RetainedEarningsAccumulatedLosses 2020-04-30 09542194 core:LandBuildings 2021-04-30 09542194 core:LandBuildings 2020-04-30 09542194 bus:SmallEntities 2020-05-01 2021-04-30 09542194 bus:AuditExemptWithAccountantsReport 2020-05-01 2021-04-30 09542194 bus:FullAccounts 2020-05-01 2021-04-30 09542194 bus:SmallCompaniesRegimeForAccounts 2020-05-01 2021-04-30 09542194 bus:PrivateLimitedCompanyLtd 2020-05-01 2021-04-30 09542194 core:AfterOneYear 2020-05-01 2021-04-30 09542194 core:KeyManagementIndividualGroup1 2020-05-01 2021-04-30 09542194 core:KeyManagementIndividualGroup1 2021-04-30

COMPANY REGISTRATION NUMBER: 09542194

S & C Rose Properties Limited

Filleted Unaudited Financial Statements

For the year ended

30 April 2021

S & C Rose Properties Limited

Financial Statements

Year ended 30 April 2021

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

S & C Rose Properties Limited

Statement of Financial Position

30 April 2021

	2021		2020
Note	£	£	£	£

Fixed assets

Tangible assets	5		149,312		149,312

Current assets

Debtors	6	657	2,040
Cash at bank and in hand		127,362	119,508
		----------	----------
		128,019	121,548

Creditors: amounts falling due within one year	7	180,974		174,160
		----------		----------
Net current liabilities			52,955		52,612
			----------		----------
Total assets less current liabilities			96,357		96,700

Creditors: amounts falling due after more than one year	8	96,324	96,324
		--------	--------
Net assets		33	376
		--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	31	374
	----	----
Shareholders funds	33	376
	----	----

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 Section 1A of 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.

For the year ending 30 April 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 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 .

S & C Rose Properties Limited

Statement of Financial Position (continued)

30 April 2021

These financial statements were approved by the board of directors and authorised for issue on 14 January 2022 , and are signed on behalf of the board by:

Mr S O Rose

Director

Company registration number: 09542194

S & C Rose Properties Limited

Notes to the Financial Statements

Year ended 30 April 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Albion House, Manor Farm, Fillingham, Gainsborough, DN21 5BS.

2. Statement of compliance

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

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by 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.

(b) Going concern

In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. At the date of signing these financial statements, the directors have considered the effect of the Coronavirus pandemic on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.

Turnover comprises revenue recognised by the company in respect of rental income receivable net of value added tax.

(d) Current and deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 be paid or recovered 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.

(e) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(f) Investment property

Investment property is initially recorded 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 no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

(g) Financial instruments

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 entity after deducting all of its financial liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).

5. Tangible assets

	Land and buildings
	£
Cost / Valuation
At 1 May 2020 and 30 April 2021	149,312
	----------
Depreciation
At 1 May 2020 and 30 April 2021	–
	----------
Carrying amount
At 30 April 2021	149,312
	----------
At 30 April 2020	149,312
	----------

The investment property was valued in April 2021 by the directors who have experience in the location and category of the investment property being valued.

6. Debtors

	2021	2020
	£	£
Trade debtors	657	2,040
	----	-------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	11,093	6,376
Corporation tax	1,160	981
Directors Loan Accounts	168,061	166,161
Other creditors	660	642
	----------	----------
	180,974	174,160
	----------	----------

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

	2021	2020
	£	£
Bank loans and overdrafts	96,324	96,324
	--------	--------

The loan is secured by way of a mortgage charge over the Investment Property to which it relates.

9. Related party transactions

During the year the directors made loans available to the Company. The balance owing to the directors at 30 April 2021 was £ 168,061 (2020 - £166,161). This loan was interest free. The directors have provided personal guarantees with respect to the company loan.