REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
ROGER FULFORD ASSOCIATES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
ROGER FULFORD ASSOCIATES LIMITED |
ROGER FULFORD ASSOCIATES LIMITED (REGISTERED NUMBER: 06498097) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ROGER FULFORD ASSOCIATES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2022 |
DIRECTOR: |
SECRETARIES: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ROGER FULFORD ASSOCIATES LIMITED (REGISTERED NUMBER: 06498097) |
BALANCE SHEET |
31 MARCH 2022 |
31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
ROGER FULFORD ASSOCIATES LIMITED (REGISTERED NUMBER: 06498097) |
BALANCE SHEET - continued |
31 MARCH 2022 |
31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Retained earnings |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit & Loss has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ROGER FULFORD ASSOCIATES LIMITED (REGISTERED NUMBER: 06498097) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
1. | STATUTORY INFORMATION |
Roger Fulford Associates Limited, limited by shares, registered in England and Wales. The company's registered number is 06498097 and the registered office address is 7 Knighton Close, Caversham, Reading, Berkshire RG4 7SZ. |
The principal activities of the company are business and management consultancy, and investment management. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The accounting estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The accounting estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to |
accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods. |
The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are considered to be the valuation of investment property. As described in the notes to the accounts, investment property is stated at fair value based on the valuation performed by the director having regard to the location and category of property valued. The director has used observable market prices adjusted as necessary for any difference in the future and condition of the property. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation on tangible fixed assets is charged to profit or loss so as to write off their value, over their estimated useful lives at 25% per annum on a reducing balance basis. |
At each reporting date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication of impairment. Any impairment is charged to profit or loss. |
ROGER FULFORD ASSOCIATES LIMITED (REGISTERED NUMBER: 06498097) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
2. | ACCOUNTING POLICIES - continued |
Investment property |
Investment property is initially recognised at cost and subsequently remeasured to fair value at each reporting date. Any aggregate surplus or deficit arising from changes in fair value are charged or credited to profit or loss. |
Financial instruments |
Trade and other debtors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method, less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Loans receivable are measured initially at fair value, net of transaction costs, and non-current loans receivable are subsequently remeasured to amortised cost using the effective interest method, less any impairment. |
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities. |
Trade and other creditors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Loans payable are measured initially at fair value, net of transaction costs, and non-current loans payable are subsequently remeasured to amortised cost using the effective interest method. |
Taxation |
Tax on profit represents the sum of the tax currently payable and deferred tax. |
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end. |
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. |
Deferred tax is recognised on all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
ROGER FULFORD ASSOCIATES LIMITED (REGISTERED NUMBER: 06498097) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
2. | ACCOUNTING POLICIES - continued |
Fixed asset investments |
Fixed asset investments comprising listed securities are initially recognised at acquisition cost. At the balance sheet date they are valued at the relevant market quoted mid-price. The market movement on the revaluation is transferred to the profit and loss account for the year. |
Going concern |
The directors are not aware of any material uncertainties that may cast significant doubt over the ability of the company to continue trading. The preparation of the financial statements on the going concern basis is therefore deemed appropriate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 April 2021 |
and 31 March 2022 |
DEPRECIATION |
At 1 April 2021 |
Charge for year |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
ROGER FULFORD ASSOCIATES LIMITED (REGISTERED NUMBER: 06498097) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 April 2021 |
Additions |
Disposals | ( |
) |
Market movement | 7,310 |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
Fixed asset investments comprise listed securities and are revalued to market value at each balance sheet date. The historical cost of fixed asset investments is £52,703. |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2021 |
Revaluations | 10,239 |
At 31 March 2022 |
DEPRECIATION |
At 1 April 2021 | 4,850 |
Charge for year | (4,850 | ) |
At 31 March 2022 | - |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
ROGER FULFORD ASSOCIATES LIMITED (REGISTERED NUMBER: 06498097) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 31 March 2022 is represented by: |
£ |
Valuation in 2022 | 74,177 |
Cost | 59,725 |
133,902 |
If investment property had not been revalued it would have been included at the following historical cost: |
31.3.22 | 31.3.21 |
£ | £ |
Cost | 59,725 | 59,725 |
Investment property was valued on an open market basis on 31 March 2022 by the director . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Bank loans |
ROGER FULFORD ASSOCIATES LIMITED (REGISTERED NUMBER: 06498097) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
10. | OTHER FINANCIAL COMMITMENTS |
As at the balance sheet date the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £9,553. |