Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-01-01falseNo description of principal activity2424falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00581275 2021-01-01 2021-12-31 00581275 2020-01-01 2020-12-31 00581275 2021-12-31 00581275 2020-12-31 00581275 c:Director3 2021-01-01 2021-12-31 00581275 d:Buildings 2021-01-01 2021-12-31 00581275 d:Buildings 2021-12-31 00581275 d:Buildings 2020-12-31 00581275 d:Buildings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 00581275 d:PlantMachinery 2021-01-01 2021-12-31 00581275 d:PlantMachinery 2021-12-31 00581275 d:PlantMachinery 2020-12-31 00581275 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 00581275 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 00581275 d:CurrentFinancialInstruments 2021-12-31 00581275 d:CurrentFinancialInstruments 2020-12-31 00581275 d:Non-currentFinancialInstruments 2021-12-31 00581275 d:Non-currentFinancialInstruments 2020-12-31 00581275 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 00581275 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 00581275 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 00581275 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 00581275 d:ShareCapital 2021-12-31 00581275 d:ShareCapital 2020-12-31 00581275 d:CapitalRedemptionReserve 2021-12-31 00581275 d:CapitalRedemptionReserve 2020-12-31 00581275 d:RevaluationReserve 2021-12-31 00581275 d:RevaluationReserve 2020-12-31 00581275 d:RetainedEarningsAccumulatedLosses 2021-12-31 00581275 d:RetainedEarningsAccumulatedLosses 2020-12-31 00581275 c:OrdinaryShareClass1 2021-01-01 2021-12-31 00581275 c:OrdinaryShareClass1 2021-12-31 00581275 c:OrdinaryShareClass1 2020-12-31 00581275 c:OrdinaryShareClass2 2021-01-01 2021-12-31 00581275 c:OrdinaryShareClass2 2021-12-31 00581275 c:OrdinaryShareClass2 2020-12-31 00581275 c:FRS102 2021-01-01 2021-12-31 00581275 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 00581275 c:FullAccounts 2021-01-01 2021-12-31 00581275 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 00581275 2 2021-01-01 2021-12-31 00581275 5 2021-01-01 2021-12-31 00581275 6 2021-01-01 2021-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 00581275









FELIX ROSENSTIEL'S WIDOW & SON LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
FELIX ROSENSTIEL'S WIDOW & SON LIMITED
REGISTERED NUMBER: 00581275

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,992,944
3,014,247

Investments
 5 
200,000
-

  
3,192,944
3,014,247

Current assets
  

Stocks
 6 
21,680
22,350

Debtors: amounts falling due within one year
 7 
251,849
323,190

Cash at bank and in hand
 8 
2,294,849
1,887,162

  
2,568,378
2,232,702

Creditors: amounts falling due within one year
 9 
(669,342)
(710,126)

Net current assets
  
 
 
1,899,036
 
 
1,522,576

Total assets less current liabilities
  
5,091,980
4,536,823

Creditors: amounts falling due after more than one year
 10 
(389,662)
(451,788)

  

Net assets
  
4,702,318
4,085,035


Capital and reserves
  

Called up share capital 
 11 
98,286
98,286

Revaluation reserve
  
2,415,037
2,415,037

Capital redemption reserve
  
1,714
1,714

Profit and loss account
  
2,187,281
1,569,998

  
4,702,318
4,085,035


Page 1

 
FELIX ROSENSTIEL'S WIDOW & SON LIMITED
REGISTERED NUMBER: 00581275
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr N R Roe
Director

Date: 13 September 2022

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
FELIX ROSENSTIEL'S WIDOW & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Felix Rosenstiel's Widow & Son Limited is a private company limited by shares incorporated in England and Wales (Registered No. 00581275). The registered office is 64 New Cavendish Street, London, W1G 8TB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
FELIX ROSENSTIEL'S WIDOW & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
FELIX ROSENSTIEL'S WIDOW & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold land and buildings
-
2%
straight line basis on buildings
Plant and machinery
-
33%
straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
FELIX ROSENSTIEL'S WIDOW & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.11

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
FELIX ROSENSTIEL'S WIDOW & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2020 - 24).


4.


Tangible fixed assets





Land and buildings
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 January 2021
3,152,824
718,434
3,871,258


Additions
-
41,411
41,411



At 31 December 2021

3,152,824
759,845
3,912,669



Depreciation


At 1 January 2021
181,738
675,273
857,011


Charge for the year on owned assets
14,700
48,014
62,714



At 31 December 2021

196,438
723,287
919,725



Net book value



At 31 December 2021
2,956,386
36,558
2,992,944



At 31 December 2020
2,971,086
43,161
3,014,247

Land and buildings were revalued at 30 June 2008 by Matthews & Goodman LLP who are independent of the company.  The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties. 

Page 7

 
FELIX ROSENSTIEL'S WIDOW & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
422,100



At 31 December 2021

422,100



Impairment


Charge for the period
222,100



At 31 December 2021

222,100



Net book value



At 31 December 2021
200,000



At 31 December 2020
-


6.


Stocks

2021
2020
£
£

Finished goods and goods for resale
21,680
22,350

21,680
22,350



7.


Debtors

2021
2020
£
£


Trade debtors
195,239
284,222

Other debtors
35,459
29,018

Prepayments and accrued income
21,151
9,950

251,849
323,190


Page 8

 
FELIX ROSENSTIEL'S WIDOW & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

8.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
2,294,850
1,887,162

2,294,850
1,887,162



9.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
76,159
77,417

Trade creditors
312,756
354,772

Amounts owed to group undertakings
1,000
-

Corporation tax
84,290
21,269

Other taxation and social security
42,186
33,030

Other creditors
13,447
149,401

Accruals and deferred income
139,504
74,237

669,342
710,126


Page 9

 
FELIX ROSENSTIEL'S WIDOW & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

10.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
389,662
451,788

389,662
451,788


Bank borrowings
Bank borrowings are secured by a fixed charged over one of the freehold properties.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2021
2020
£
£


Repayable by instalments
112,032
180,278

112,032
180,278




11.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



54,195 (2020 - 54,195) Ordinary A shares of £1.00 each
54,195
54,195
44,091 (2020 - 44,091) Ordinary B shares of £1.00 each
44,091
44,091

98,286

98,286



12.


Related party transactions

During the year the company incurred expenditure in relation to marketing and sales administration services provided by a related party amounting to £213,111 (2020: £57,138). 

 
Page 10