Roundham Holdings Limited - Period Ending 2022-06-30
Roundham Holdings Limited - Period Ending 2022-06-30
Year Ended
Registration number:
Roundham Holdings Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Roundham Holdings Limited
Company Information
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Directors |
Mr M Salmon Mrs S Salmon |
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Registered office |
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Accountants |
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Roundham Holdings Limited
Balance Sheet
30 June 2022
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Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Roundham Holdings Limited
Balance Sheet
30 June 2022
For the financial year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 10398443
Roundham Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 30 June 2022
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
The principal place of business is:
Valley House
Valley Road
Plympton
Plymouth
Devon
PL7 1RF
England
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 Section 1A, and the Companies Act 2006. There are no material departures from FRS102.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Roundham Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 30 June 2022
Going concern
In the opinion of the directors, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore the financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.
The company recognises revenue when the value of services provided to date can be reliably measured.
Tax
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Office Equipment |
15 % Straight line |
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Motor Vehicles |
15 % Reducing balance |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Roundham Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 30 June 2022
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Roundham Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 30 June 2022
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Roundham Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 30 June 2022
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 July 2021 |
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Additions |
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At 30 June 2022 |
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Depreciation |
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At 1 July 2021 |
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Charge for the year |
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At 30 June 2022 |
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Carrying amount |
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At 30 June 2022 |
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At 30 June 2021 |
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Included within the net book value of land and buildings above is £1,500,000 (2021 - £1,500,000) in respect of freehold land and buildings. In the directors opinion the market value of freehold property at 30 June 2022 is £1,500,000.
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Investments |
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2022 |
2021 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 July 2021 |
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Additions |
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At 30 June 2022 |
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Provision |
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Carrying amount |
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At 30 June 2022 |
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At 30 June 2021 |
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Roundham Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 30 June 2022
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Debtors |
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2022 |
2021 |
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Amounts due from group undertakings |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2022 |
2021 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Corporation tax |
165 |
14,311 |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
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Note |
2022 |
2021 |
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Due after one year |
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Loans and borrowings |
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Reserves |
Included within the profit and loss account balance carried forward are non-distributable reserves of £104,692 (2021: £104,692). These reserves represent the cumulative revaluation gains, after provision for deferred tax, on the company's investment properties.
Roundham Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 30 June 2022
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Loans and borrowings |
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2022 |
2021 |
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Current loans and borrowings |
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Bank borrowings |
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Hire purchase contracts |
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- |
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2022 |
2021 |
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Loans and borrowings due after one year |
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Bank borrowings |
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HP and finance lease liabilities |
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Share capital |
Allotted, called up and fully paid shares
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2022 |
2021 |
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No. |
£ |
No. |
£ |
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190.00 |
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190.00 |