Rose Homes Limited - Period Ending 2014-03-31

Registration number: 01547348

Rose Homes Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

Lambert Chapman LLP
Chartered Accountants
West House
West Square
Maldon
Essex
CM9 6HA

Rose Homes Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Registration number: 01547348

Rose Homes Limited
Balance Sheet as at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			1			88
Current assets
Stocks					7,467			-
Debtors					30,500			134,823
Cash at bank and in hand					6,618			7,104
					44,585			141,927
Creditors: Amounts falling due within one year					(31,269)			(130,670)
Net current assets					13,316			11,257
Net assets					13,317			11,345
Capital and reserves
Called up share capital		3			25,000			25,000
Profit and loss account					(11,683)			(13,655)
Shareholders' funds					13,317			11,345

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 25 November 2014 and signed on its behalf by:

B Sanders
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Rose Homes Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis. This may not be appropriate because at the balance sheet date the company's current liabilities exceeded its current assets.

Included within creditors amounts due within one year are loans from the Directors. Whilst these amounts are repayable on demand no repayments will be made until the Company has a surlpus in its reserves.

Should the company be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities which might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Computer equipment	25% on cost

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 2

Rose Homes Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2013		1,836			1,836
At 31 March 2014		1,836			1,836
Depreciation
At 1 April 2013		1,748			1,748
Charge for the year		87			87
At 31 March 2014		1,835			1,835
Net book value
At 31 March 2014		1			1
At 31 March 2013		88			88

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		25,000			25,000			25,000			25,000

Page 3