Roundhouse (Nightingale Lane) Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09376987 (England and Wales)

Financial Statements

for the Year Ended 31 December 2022

for

Roundhouse (Nightingale Lane) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C J Matson

C J Wilson

REGISTERED OFFICE:

11 Wigmore Street

London

W1U 1PE

REGISTERED NUMBER:

09376987 (England and Wales)

AUDITORS:

Elliotts Shah

Statutory Auditor

Chartered Accountants

4th Floor

167 Fleet Street

London

EC4A 2EA

FIXED ASSETS

Tangible assets

4

-

22,393

CURRENT ASSETS

Stocks

-

78,258

Debtors

5

771,242

1,532,591

771,242

1,610,849

CREDITORS

Amounts falling due within one year

6

-

862,000

NET CURRENT ASSETS

771,242

748,849

TOTAL ASSETS LESS CURRENT LIABILITIES

771,242

771,242

CAPITAL AND RESERVES

Called up share capital

8

100

100

Share premium

119,900

119,900

Retained earnings

651,242

651,242

SHAREHOLDERS' FUNDS

771,242

771,242

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 by the Board of Directors and authorised for issue on 1 August 2023 and were signed on its behalf by:

C J Wilson - Director

1.	STATUTORY INFORMATION

Roundhouse (Nightingale Lane) Limited 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.

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.

Going concern

A review of the business activity of the Company are covered in the Report of the Directors.

Included within the current liabilities were deposits received on planned deliveries of kitchens subsequent to the balance sheet date of £nil (2021 - £478,179). After taking into account these deposits, the company's financial projections, available borrowing facilities and other relevant financial matters, the directors consider that the company will be able to meet its liabilities as they fall due and are satisfied that on the date of approving the financial statements, there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the Directors consider the going concern basis to be appropriate.

Turnover

Turnover represents the value of design services, manufactured units and installation services including appliances, on the basis of completion of delivery excluding VAT and discounts. Turnover also recognises a proportionate value of the total contract in relation to design services provided.

Turnover from long term contracts are recognised when materials are delivered to site and for installation charges when work has been completed. The expected profit is spread over the expected duration of site work.

Customer deposits received for design services are recognised as turnover on an amortised basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets and financial liabilities are recognised on the Company's balance sheet when the Company has become a party to the contractual provisions of the instrument.

Trade receivables are stated at their nominal value as reduced by appropriate allowances for estimated irrecoverable amounts.

Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the

substance of the contractual arrangement.

Trade payables are obligation to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

The company accounts for pension costs on the basis of contributions paid in the course of the period to a self invested personal pension scheme for its directors. It also operates a defined employee pension scheme under its auto-enrollment obligations.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 2 ).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2022

175,581

189,603

365,184

Reclassification/transfer

(175,581

)

(189,603

)

(365,184

)

At 31 December 2022

-

-

-

DEPRECIATION

At 1 January 2022

156,984

185,807

342,791

Reclassification/transfer

(156,984

)

(185,807

)

(342,791

)

At 31 December 2022

-

-

-

NET BOOK VALUE

At 31 December 2022

-

-

-

At 31 December 2021

18,597

3,796

22,393

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed by group undertakings

771,242

1,519,757

Other debtors

-

12,834

771,242

1,532,591

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation and social security

-

105,925

Other creditors

-

756,075

-

862,000

7.	DEFERRED TAX

£

Balance at 1 January 2022

(984

)

Accelerated Capital Allowances

Transfer to fellow subsidiary

984

Balance at 31 December 2022

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nathalie Yip (Senior Statutory Auditor)

for and on behalf of Elliotts Shah

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11.	ULTIMATE CONTROLLING PARTY