Roundham Investments Limited - Period Ending 2022-06-30

Roundham Investments Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Roundham Investments Limited

Company Information

Directors

Mr M Salmon Mrs S Salmon

Registered office

Sigma House Oak View Close Edginswell Park Torquay Devon TQ2 7FF

Accountants

Francis Clark LLP Sigma House Oak View Close Edginswell Park Torquay Devon TQ2 7FF

Roundham Investments Limited

Balance Sheet

30 June 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	1,215,000	1,215,000
Current assets
Debtors		1,100	723
Cash at bank and in hand		241,874	103,897
		242,974	104,620
Creditors: Amounts falling due within one year	5	(968,424)	(857,390)
Net current liabilities		(725,450)	(752,770)
Total assets less current liabilities		489,550	462,230
Creditors: Amounts falling due after more than one year	5	(263,434)	(263,434)
Provisions for liabilities		(31,194)	(31,194)
Net assets		194,922	167,602
Capital and reserves
Called up share capital	7	60	60
Profit and loss account		194,862	167,542
Shareholders' funds		194,922	167,602

Roundham Investments 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:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	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 Board on 23 February 2023 and signed on its behalf by:
 

......................................... Mr M Salmon Director

Company Registration Number: 10398467

Roundham Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 30 June 2022

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF
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 Board on 23 February 2023.

2	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.

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 based on its value of the service provided to date.

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.

Roundham Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 30 June 2022

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.

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.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

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.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 2).

Roundham Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 30 June 2022

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 July 2021	1,215,000	1,215,000
At 30 June 2022	1,215,000	1,215,000
Depreciation
Carrying amount
At 30 June 2022	1,215,000	1,215,000
At 30 June 2021	1,215,000	1,215,000

Included within the net book value of land and buildings above is £1,215,000 (2021- £1,215,000) in respect of freehold investment properties. In the directors opinion the market value of the freehold property at 30 June 2022 is £1,215,000.

5

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Trade creditors	576	1,946
Amounts owed to group undertakings	956,940	806,940
Corporation tax	6,451	4,174
Other creditors	3,642	43,555
Accruals and deferred income	815	775
	968,424	857,390

Creditors: amounts falling due after more than one year

	Note	2022 £	2021 £
Due after one year
Loans and borrowings	6	263,434	263,434

Roundham Investments Limited

Notes to the Unaudited Financial Statements

Year Ended 30 June 2022

6	Loans and borrowings

	2022 £	2021 £
Loans and borrowings due after one year
Bank borrowings	263,434	263,434

7	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	£	No.	£
Ordinary Shares of £1 each	60	60	60	60

8

Reserves

Included within the profit and loss account balance carried forward are non-distributable reserves of £112,298 (2021: £112,298). These reserves represent the cumulative revaluation gains, after provision for deferred tax, on the company's investment properties.