Rockley Hall Estates Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03198232 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

ROCKLEY HALL ESTATES LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Investment property

4

1,450,000

1,770,000

CURRENT ASSETS

Debtors

5

25,098

135,074

Cash at bank

51,101

34,353

76,199

169,427

CREDITORS

Amounts falling due within one year

6

6,398

30,656

NET CURRENT ASSETS

69,801

138,771

TOTAL ASSETS LESS CURRENT LIABILITIES

1,519,801

1,908,771

ACCRUALS AND DEFERRED INCOME

6,344

8,222

NET ASSETS

1,513,457

1,900,549

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

7

250,000

353,824

Retained earnings

1,263,357

1,546,625

1,513,457

1,900,549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:

M Heaney - Director

1.	STATUTORY INFORMATION

Rockley Hall Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03198232

Registered office:

Yorkshire Bank Chambers

Infirmary Street

Leeds

West Yorkshire

LS1 2JP

The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rent received and receivable, excluding VAT.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current tax. 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 taxation

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2022

1,770,000

Revaluations

(320,000

)

At 31 May 2023

1,450,000

NET BOOK VALUE

At 31 May 2023

1,450,000

At 31 May 2022

1,770,000

The historic cost of investment properties was £1,446,500 (2022: £1,446,500).

The investment property was valued on an open market basis on 31 May 2023 by all the directors.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Trade debtors

4,897

130,960

VAT

15,579

-

Prepayments and accrued income

4,622

4,114

25,098

135,074

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Trade creditors

86

-

Corporation tax

1,573

22,228

VAT

-

3,615

Accruals

4,739

4,813

6,398

30,656

7.

RESERVES

Revaluation

reserve

£

At 1 June 2022

353,824

Revaluation in the year

(103,824

)

At 31 May 2023

250,000