Rox Property Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC318158 (Scotland)

Rox Property Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S G Sheridan

K J Sims

SECRETARY:

Whitelaw Wells

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

EH3 6AS

REGISTERED NUMBER:

SC318158 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

The Royal Bank of Scotland plc

36 St Andrew Square

Edinburgh

EH2 2AD

CURRENT ASSETS

Debtors

4

100

280

Cash at bank

1,088

118

1,188

398

CREDITORS

Amounts falling due within one year

5

13,194

9,948

NET CURRENT LIABILITIES

(12,006

)

(9,550

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,006

)

(9,550

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(12,106

)

(9,650

)

SHAREHOLDERS' FUNDS

(12,006

)

(9,550

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2023 and were signed on its behalf by:

S G Sheridan - Director

1.	STATUTORY INFORMATION

Rox Property Limited is a private company, limited by shares , registered in Scotland. 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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. All loans with related parties are all repayable on demand.

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.

Going concern

The company is dependant upon the continued support of it's director and related parties, who have advanced the company funds to purchase investment property.

The directors going concern assessment considers a period of at least 12 months from the date of signing of these financial statements.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

100

280

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Amounts owed to participating interests

11,501

7,382

Other creditors

1,693

2,566

13,194

9,948

6.	SECURED DEBTS

The Royal Bank of Scotland plc holds both a standard security and a floating charge over the investment property at 218 High Street, Arbroath.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

50

Ordinary A

£1

50

50

25

Ordinary B

£1

25

25

25

Ordinary C

£1

25

25

100

100

8.	CONTINGENT ASSETS

During the previous year the company took a tenant to court over non payment of rent and dilapidations. Although the company has won the case, no income has been recognised in these accounts as there are some uncertainties surrounding the amount and timing of any receipt.

9.	RELATED PARTY DISCLOSURES

During the year the company was lent £4,119 (2022: £2,108) by the shareholders. At the year end the amount outstanding was £11,501 (2022: £7,382).