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Registered number: 13997114
Rosebridge Asset Management Limited
Directors' Report and
Financial Statements
For the Period 23 March 2022 to 31 March 2023
Financial Statements
Contents
Page
Directors' Report 1—2
Independent Auditor's Report 3—5
Statement of Comprehensive Income 6
Balance Sheet 7
Statement of Changes in Equity 8
Notes to the Financial Statements 9—11
Page 1
Directors' Report
The directors present their report and the financial statements for the period ended 31 March 2023 .
Principal Activity
The company's principal activity is discretionary fund management.
Directors
The directors who held office during the period were as follows:
Mr Phillip Rose Appointed 23/03/2022
Mr Steven Banks Appointed 23/03/2022
Mr Gareth Griffiths Appointed 23/03/2022
Mr Darren Maroney Appointed 23/03/2022 Resigned 03/10/2022
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Page 1
Page 2
Independent Auditors
The auditors, E A Audit Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
On behalf of the board
Mr Phillip Rose
Director
12/07/2023
Page 2
Page 3
Independent Auditor's Report
Opinion
We have audited the financial statements of Rosebridge Asset Management Limited for the period ended 31 March 2023 which comprise the Balance Sheet, Statement of Changes of Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its profit/(loss) for the period then ended;
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
  • have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
  • the information given in the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
  • the Directors' Report have been prepared in accordance with applicable legal requirements.
Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
  • the financial statements are not in agreement with the accounting records or returns; or
  • certain disclosures of directors' remuneration specified by law are not made; or
  • we have not received all the information and explanations we require for our audit.
Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement set out on page 1—2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit procedures are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. However, it is the primary responsibility of management, with the oversight of those charged with governance and compliance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
David Humphrey Evans (Senior Statutory Auditor)
for and on behalf of E A Audit Limited , Statutory Auditor
12/07/2023
Page 5
Page 6
Statement of Comprehensive Income
31 March 2023
Notes £
Cost of sales (79,184 )
GROSS LOSS (79,184 )
Administrative expenses (110,010 )
OPERATING LOSS AND LOSS FOR THE FINANCIAL PERIOD (189,194 )
LOSS FOR THE FINANCIAL PERIOD (189,194 )
OTHER COMPREHENSIVE INCOME FOR THE PERIOD -
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD (189,194 )
The notes on pages 9 to 11 form part of these financial statements.
Page 6
Page 7
Balance Sheet
Registered number: 13997114
31 March 2023
Notes £ £
CURRENT ASSETS
Debtors 7 420
Cash at bank and in hand 148,308
148,728
Creditors: Amounts Falling Due Within One Year 8 (27,922 )
NET CURRENT ASSETS (LIABILITIES) 120,806
TOTAL ASSETS LESS CURRENT LIABILITIES 120,806
NET ASSETS 120,806
CAPITAL AND RESERVES
Called up share capital 9 300,100
Share premium account 9,900
Profit and Loss Account (189,194 )
SHAREHOLDERS' FUNDS 120,806
On behalf of the board
Mr Phillip Rose
Director
12/07/2023
The notes on pages 9 to 11 form part of these financial statements.
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Page 8
Statement of Changes in Equity
Share Capital Share Premium Profit and Loss Account Total
£ £ £ £
Loss for the period and total comprehensive income - - (189,194 ) (189,194)
Arising on shares issued during the period 300,100 9,900 - 310,000
As at 31 March 2023 300,100 9,900 (189,194 ) 120,806
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Page 9
Notes to the Financial Statements
1. General Information
Rosebridge Asset Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13997114 . The registered office is The Grants 11 Market Place, Ramsbottom, Bury, BL0 9AJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the period was as follows:
31 March 2023
£
Audit Services
Audit of the company's financial statements 4,614
4. Staff Costs
Staff costs, including directors' remuneration, were as follows:
31 March 2023
£
Wages and salaries 63,922
Social security costs 461
Other pension costs 255
64,638
5. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 5
5
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6. Tax on Profit
The tax charge on the profit for the period was as follows:
31 March 2023
£
Current tax
UK Corporation Tax -
The actual charge for the period can be reconciled to the expected for the period based on the surplus and the standard rate of corporation tax as follows:
31 March 2023
£
Profit before tax (189,194)
Tax on profit at 0% (UK standard rate) -
Total tax charge for the period -
7. Debtors
31 March 2023
£
Due within one year
Other debtors 420
420
8. Creditors: Amounts Falling Due Within One Year
31 March 2023
£
Trade creditors 16,506
Amounts owed to group undertakings 4,495
Taxation and social security 1,348
Accruals and deferred income 5,573
27,922
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9. Share Capital
31 March 2023
Allotted, called up and fully paid £
0 Ordinary A shares of £ 0.00 each 156,000
0 Ordinary B shares of £ 0.00 each 72,000
0 Ordinary C shares of £ 0.00 each 72,000
0 Ordinary D shares of £ 0.00 each 100
300,100
Shares issued during the period: £
156,000 Ordinary A shares of £ 1.00 each 156,000
72,000 Ordinary B shares of £ 1.00 each 72,000
72,000 Ordinary C shares of £ 1.00 each 72,000
100 Ordinary D shares of £ 1.00 each 100
300,100
10. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the period the charge to profit or loss in respect of defined contribution schemes was £255.
At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.
11. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
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