Company Registration No. 03075632 (England and Wales)
ROSEGRANGE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
PAGES FOR FILING WITH REGISTRAR
Dutchmans Chartered Accountants
3 Station Parade, Cherry Tree Rise
Buckhurst Hill, Essex IG9 6EU
ROSEGRANGE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
ROSEGRANGE LTD
BALANCE SHEET
AS AT
31 DECEMBER 2020
31 December 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
412,566
414,217
Current assets
Debtors
4
17
620
Cash at bank and in hand
43,833
28,366
43,850
28,986
Creditors: amounts falling due within one year
5
(22,741)
(18,556)
Net current assets
21,109
10,430
Total assets less current liabilities
433,675
424,647
Creditors: amounts falling due after more than one year
6
(188,654)
(208,967)
Net assets
245,021
215,680
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
244,921
215,580
Total equity
245,021
215,680
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ROSEGRANGE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2020
31 December 2020
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 September 2021 and are signed on its behalf by:
S A Kestenbaum
Director
Company Registration No. 03075632
ROSEGRANGE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
- 3 -
1
Accounting policies
Company information
Rosegrange Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
3 Station Parade, Cherry Tree Rise, Buckhurst Hill, Essex, IG9 6EU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the
rental income
received or receivable
.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Not depreciated
Leasehold land and buildings
Over the period of the lease
1.4
Impairment of fixed assets
An adjustment for a diminution in value of property fixed assets will only be made where there is a permanent reduction in value.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
ROSEGRANGE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 4 -
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.9
Leases
The company does not have any operating leases.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2020 and 31 December 2020
443,584
Depreciation and impairment
At 1 January 2020
29,367
Depreciation charged in the year
1,651
At 31 December 2020
31,018
Carrying amount
At 31 December 2020
412,566
At 31 December 2019
414,217
ROSEGRANGE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 5 -
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
17
620
5
Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans
10,919
10,342
Trade creditors
2,116
Corporation tax
7,907
6,414
Other creditors
1,799
1,800
22,741
18,556
6
Creditors: amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
80,800
92,313
Other creditors
107,854
116,654
188,654
208,967
7
Called up share capital
2020
2019
2020
2019
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100