Silverfin false 31/03/2022 31/03/2022 01/04/2021 A Fagan 18/03/2015 12 September 2022 The principal activity of the Company during the financial year was that of design, marketing and sale of bespoke stationery and luxury accessories. 09496662 2022-03-31 09496662 bus:Director1 2022-03-31 09496662 2021-03-31 09496662 core:CurrentFinancialInstruments 2022-03-31 09496662 core:CurrentFinancialInstruments 2021-03-31 09496662 core:ShareCapital 2022-03-31 09496662 core:ShareCapital 2021-03-31 09496662 core:RetainedEarningsAccumulatedLosses 2022-03-31 09496662 core:RetainedEarningsAccumulatedLosses 2021-03-31 09496662 core:OtherPropertyPlantEquipment 2021-03-31 09496662 core:OtherPropertyPlantEquipment 2022-03-31 09496662 core:CurrentFinancialInstruments 10 2022-03-31 09496662 core:CurrentFinancialInstruments 10 2021-03-31 09496662 2021-04-01 2022-03-31 09496662 bus:FullAccounts 2021-04-01 2022-03-31 09496662 bus:SmallEntities 2021-04-01 2022-03-31 09496662 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 09496662 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 09496662 bus:Director1 2021-04-01 2022-03-31 09496662 core:OtherPropertyPlantEquipment core:TopRangeValue 2021-04-01 2022-03-31 09496662 2020-04-01 2021-03-31 09496662 core:OtherPropertyPlantEquipment 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Company No: 09496662 (England and Wales)

ROLLO LDN LTD

Unaudited Financial Statements
For the financial year ended 31 March 2022
Pages for filing with the registrar

ROLLO LDN LTD

Unaudited Financial Statements

For the financial year ended 31 March 2022

Contents

ROLLO LDN LTD

COMPANY INFORMATION

For the financial year ended 31 March 2022
ROLLO LDN LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2022
DIRECTOR A Fagan
REGISTERED OFFICE The Old Stables Watersplash Farm
Fulmer
Buckinghamshire
SL3 6JB
United Kingdom
COMPANY NUMBER 09496662 (England and Wales)
ACCOUNTANT Deloitte LLP
1 New Street Square
London
EC4A 3HQ
United Kingdom

ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ROLLO LDN LTD

For the financial year ended 31 March 2022

ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ROLLO LDN LTD (continued)

For the financial year ended 31 March 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rollo LDN Ltd for the financial year ended 31 March 2022 which comprise the Balance Sheet and the related notes 1 to 8 from the Company’s accounting records and from information and explanations you have given us.

We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW) which are detailed at _http://www.icaew.com/en/members/regulations-standards-and-guidance_.

It is your duty to ensure that Rollo LDN Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rollo LDN Ltd. You consider that Rollo LDN Ltd is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Rollo LDN Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Director of Rollo LDN Ltd, as a body, in accordance with the terms of our engagement letter dated 27 March 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Rollo LDN Ltd and state those matters that we have agreed to state to the director of Rollo LDN Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rollo LDN Ltd and its Director as a body for our work or for this report.

Deloitte LLP
Accountant

1 New Street Square
London
EC4A 3HQ
United Kingdom

12 September 2022

ROLLO LDN LTD

BALANCE SHEET

As at 31 March 2022
ROLLO LDN LTD

BALANCE SHEET (continued)

As at 31 March 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 1,086 1,931
1,086 1,931
Current assets
Stocks 4 12,155 12,250
Debtors 5 5,235 1,646
Cash at bank and in hand 7,838 12,207
25,228 26,103
Creditors
Amounts falling due within one year 6 ( 6,004) ( 8,087)
Net current assets 19,224 18,016
Total assets less current liabilities 20,310 19,947
Net assets 20,310 19,947
Capital and reserves
Called-up share capital 100 100
Profit and loss account 20,210 19,847
Total shareholder's funds 20,310 19,947

For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Rollo LDN Ltd (registered number: 09496662) were approved and authorised for issue by the Director on 12 September 2022. They were signed on its behalf by:

A Fagan
Director
ROLLO LDN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2022
ROLLO LDN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rollo LDN Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Old Stables, Watersplash Farm, Fulmer, Buckinghamshire, SL3 6JB, United Kingdom.

The financial statements have been prepared under the historical cost convention in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of Rollo LDN Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

COVID-19 continues to be a significant risk to the global economy and the director continues to monitor the impact of the virus on the business. At the time of signing the director acknowledges the pandemic has continued to significantly impact sales.

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes the Company has made a small profit and acknowledges that uncertainty around future sales and that the effects of the pandemic are making forecasting extremely difficult in relation to the timing of future cash flows. However, the director has confirmed to support the business if required, to enable the Company to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. The director notes that no additional support has been required to date.

On the basis that support is available if required, the director continues to prepare the financial statements on the going concern basis.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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 fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 3

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2021 3,117 3,117
At 31 March 2022 3,117 3,117
Accumulated depreciation
At 01 April 2021 1,186 1,186
Charge for the financial year 845 845
At 31 March 2022 2,031 2,031
Net book value
At 31 March 2022 1,086 1,086
At 31 March 2021 1,931 1,931

4. Stocks

2022 2021
£ £
Stocks 12,155 12,250

5. Debtors

2022 2021
£ £
Trade debtors 5,235 621
Other taxation and social security 0 996
Other debtors 0 29
5,235 1,646

6. Creditors: amounts falling due within one year

2022 2021
£ £
Trade creditors 2,686 858
Other creditors 2,988 3,206
Corporation tax 330 4,023
6,004 8,087

7. Related party transactions

Remuneration of £854 (2021: £518) was paid to the director during the year. The director is the only key management personnel of the Company.

Included within creditors is an unsecured loan of £2,988 (2021: £3,206) from the director of the Company. The loan is interest free and repayable on demand.

8. Ultimate controlling party

The ultimate controlling party of the Company is A Fagan.