IRIS Accounts Production v22.2.0.402 11078108 director 1.4.21 31.3.22 31.3.22 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure110781082021-03-31110781082022-03-31110781082021-04-012022-03-31110781082020-03-31110781082020-04-012021-03-31110781082021-03-3111078108ns16:EnglandWales2021-04-012022-03-3111078108ns15:PoundSterling2021-04-012022-03-3111078108ns11:Director12021-04-012022-03-3111078108ns11:PrivateLimitedCompanyLtd2021-04-012022-03-3111078108ns11:SmallEntities2021-04-012022-03-3111078108ns11:AuditExempt-NoAccountantsReport2021-04-012022-03-3111078108ns11:SmallCompaniesRegimeForDirectorsReport2021-04-012022-03-3111078108ns11:SmallCompaniesRegimeForAccounts2021-04-012022-03-3111078108ns11:FullAccounts2021-04-012022-03-3111078108ns11:CompanySecretary12021-04-012022-03-3111078108ns11:RegisteredOffice2021-04-012022-03-3111078108ns6:CurrentFinancialInstruments2022-03-3111078108ns6:CurrentFinancialInstruments2021-03-3111078108ns6:ShareCapital2022-03-3111078108ns6:ShareCapital2021-03-3111078108ns6:RetainedEarningsAccumulatedLosses2022-03-3111078108ns6:RetainedEarningsAccumulatedLosses2021-03-3111078108ns6:FreeholdInvestmentProperty2021-04-012022-03-3111078108ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3111078108ns6:WithinOneYearns6:CurrentFinancialInstruments2021-03-311107810812021-04-012022-03-311107810812021-04-012022-03-31
REGISTERED NUMBER: 11078108 (England and Wales)















Financial Statements for the Year Ended 31 March 2022

for

RO Chichester Limited

RO Chichester Limited (Registered number: 11078108)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


RO Chichester Limited

Company Information
for the Year Ended 31 March 2022







DIRECTOR: E T M Rowlandson





SECRETARY: Finance And Industrial Trust Limited(The)





REGISTERED OFFICE: Graham House
7 Wyllyotts Place
Potters Bar
Hertfordshire
EN6 2JD





REGISTERED NUMBER: 11078108 (England and Wales)






RO Chichester Limited (Registered number: 11078108)

Statement of Financial Position
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,990,000 1,660,000

CURRENT ASSETS
Debtors 5 39,332 38,192

CREDITORS
Amounts falling due within one year 6 4,376,933 4,269,197
NET CURRENT LIABILITIES (4,337,601 ) (4,231,005 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,347,601

)

(2,571,005

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (2,347,701 ) (2,571,105 )
(2,347,601 ) (2,571,005 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 September 2022 and were signed by:





E T M Rowlandson - Director


RO Chichester Limited (Registered number: 11078108)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

RO Chichester Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

Going concern
The company has net current liabilities of £4,337,601 (2021 : £4,231,005) and total liabilities of £4,376,933 (2021 : £4,269,197) at the balance sheet date. The accounts have been prepared under the going concern concept because the ultimate parent undertaking, RO Properties Limited, has confirmed its willingness and ability to provide adequate funds for the company to meet its liabilities for at least one year from the date of the approval of the financial statements.

RO Trading Limited, has confirmed its willingness and ability to provide adequate funds for RO Properties Limited to meet its liabilities for at least one year from the date of the approval of the financial statements.

Turnover
Turnover, stated net of VAT and trade discounts, represents rent receivable in the UK in respect of the company's investment properties.

Taxation
Corporation tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising on the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposals of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

RO Chichester Limited (Registered number: 11078108)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Investment properties
Investment properties are revalued annually. Surplus or deficits on individual properties are transferred to the profit and loss account. Depreciation is not provided in respect of freehold investment properties or of leasehold investment properties where the unexpired term of the lease is more than 20 years.

The surplus or deficit over the carrying value of an investment property realiised on disposal is dealt with through the profit and loss account. Any previous revaluation surplus is transferred from the revaluation reserve to the profit and loss reserve.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial asset, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2021 1,660,000
Additions 19,971
Revaluations 310,029
At 31 March 2022 1,990,000
NET BOOK VALUE
At 31 March 2022 1,990,000
At 31 March 2021 1,660,000

Land and buildings have been valued by a director on an open market basis at 31 March 2022 and the movement on revaluation represents the net movement for the year. The cost of the properties was £4,231,715

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors - 19,652
Tax 20,320 3,651
VAT 3,562 -
Prepayments 15,450 14,889
39,332 38,192

RO Chichester Limited (Registered number: 11078108)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 26,866 341
Amounts owed to group undertakings 4,179,691 4,195,056
Social security and other taxes 710 -
VAT - 1,402
Other creditors 61,097 60,773
Accruals and deferred income 108,569 11,625
4,376,933 4,269,197

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8. POST BALANCE SHEET EVENTS

There has been no event since the balance sheet date that could materially affect the state of affairs of the company as at 31 March 2022 or that requires disclosure.

9. ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate parent company is RO Properties Limited, a company incorporated in England and Wales.

Mr R G StJ Rowlandson, a director of RO Properties Limited and members of his close family, control the company as a result of their trusteeship of various family trusts.

RO Properties Limited is the parent company of the largest and smallest group of which the company is a member for which consolidated accounts are prepared. Copies of its group accounts can be obtained from Graham House, 7 Wyllyotts Place, Potters Bar, Hertfordshire, EN6 2JD.