|
Basis of 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 Auditors' 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 company's ability to continue as a going concern for a period of at least twelve 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. 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. |
|
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 Report of te Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
● |
the Report of the Directors have has been prepared in accordance with applicable legal requirements. |
|
Matters on which we are required to report by exception |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Deferred tax liabilities are not discounted. |
|
|
Finance and operating lease |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. The rental lease and refurbishment costs associated with the property are charged to the profit and loss over the term of the lease. |
|
|
Pensions |
|
The company operates a money purchase pension scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme. |
|
|
Financial instruments |
|
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties. |
|
2 |
Analysis of turnover |
2023 |
|
2022 |
£ |
£ |
|
|
Independent finanical advice |
1,247,380 |
|
1,424,956 |
|
|
|
|
|
|
|
|
|
|
By geographical market: |
|
|
United Kingdom |
1,247,380 |
|
1,424,956 |
|
|
|
|
|
|
|
|
|
|
3 |
Operating profit |
2023 |
|
2022 |
£ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
19,894 |
|
26,527 |
|
Depreciation of assets held under finance leases and hire purchase contracts |
|
7,091 |
|
7,685 |
|
Auditors' remuneration for other services |
7,200 |
|
7,200 |
|
|
|
|
|
|
|
|
|
|
4 |
Going concern |
|
|
The financial statements have been prepared on a going concern basis. The Directors have considered relevant information, including the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment. The Directors have performed a robust analysis of the potential impact on the business of possible future scenarios arising from the current economic climate. This has included submission of additional surveys to the FCA outlining any potential impact. This analysis also considers the effectiveness of available measures to assist in mitigating any potential risks. |
|
Based on these assessments and having regard to the resources available to the entity, the Directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts. |
|
|
|
|
|
5 |
Directors' emoluments |
2023 |
|
2022 |
£ |
£ |
|
|
Emoluments |
451,636 |
|
438,758 |
|
|
|
|
|
|
|
|
|
|
|
Highest paid director: |
|
Emoluments |
339,354 |
|
339,033 |
|
Company contributions to defined contribution pension plans |
- |
|
4,000 |
|
|
|
|
|
|
339,354 |
|
343,033 |
|
|
|
|
|
|
|
|
|
|
|
Number of directors to whom retirement benefits accrued: |
2023 |
|
2022 |
Number |
Number |
|
|
Defined contribution plans |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
6 |
Staff costs |
2023 |
|
2022 |
£ |
£ |
|
|
Wages and salaries |
577,846 |
|
581,754 |
|
Social security costs |
75,544 |
|
68,313 |
|
Other pension costs |
40,437 |
|
42,841 |
|
|
|
|
|
|
693,827 |
|
692,908 |
|
|
|
|
|
|
|
|
|
|
|
Average number of employees during the year |
Number |
Number |
|
|
Advisor |
2 |
|
2 |
|
Administration |
5 |
|
5 |
|
|
|
|
|
|
7 |
|
7 |
|
|
|
|
|
|
|
|
|
|
7 |
Interest payable |
2023 |
|
2022 |
£ |
£ |
|
|
Finance charges payable under finance leases and hire purchase contracts |
|
1,680 |
|
1,575 |
|
|
|
|
|
|
|
|
|
|
8 |
Taxation |
2023 |
|
2022 |
£ |
£ |
|
Analysis of charge in period |
|
Current tax: |
|
UK corporation tax on profits of the period |
(12,936) |
|
21,638 |
|
|
|
|
|
|
|
|
|
|
Deferred tax: |
|
Origination and reversal of timing differences |
4,462 |
|
(3,703) |
|
|
|
|
|
|
|
|
|
|
|
Tax on (loss)/profit on ordinary activities |
(8,474) |
|
17,935 |
|
|
|
|
|
|
|
|
|
|
|
Factors affecting tax charge for period |
|
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows: |
|
|
|
|
|
|
|
2023 |
|
2022 |
£ |
£ |
|
(Loss)/profit on ordinary activities before tax |
(78,103) |
|
139,313 |
|
|
|
|
|
|
|
|
|
|
Standard rate of corporation tax in the UK |
19% |
|
19% |
|
£ |
£ |
|
Profit on ordinary activities multiplied by the standard rate of corporation tax |
|
(14,840) |
|
26,469 |
|
|
Effects of: |
|
Expenses not deductible for tax purposes |
7,648 |
|
242 |
|
Capital allowances for period in excess of depreciation |
(5,744) |
|
3,161 |
|
Utilisation of tax losses |
- |
|
(8,234) |
|
|
Current tax charge for period |
(12,936) |
|
21,638 |
|
|
|
|
|
|
|
|
|
|
9 |
Tangible fixed assets |
|
|
|
|
Plant and machinery |
|
Motor vehicles |
|
Total |
|
|
|
|
At cost |
|
At cost |
£ |
£ |
£ |
|
Cost or valuation |
|
At 1 April 2022 |
420,207 |
|
67,624 |
|
487,831 |
|
Additions |
- |
|
53,000 |
|
53,000 |
|
Disposals |
- |
|
(47,689) |
|
(47,689) |
|
At 31 March 2023 |
420,207 |
|
72,935 |
|
493,142 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2022 |
340,633 |
|
39,485 |
|
380,118 |
|
Charge for the year |
19,894 |
|
7,091 |
|
26,985 |
|
On disposals |
- |
|
(30,923) |
|
(30,923) |
|
At 31 March 2023 |
360,527 |
|
15,653 |
|
376,180 |
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
At 31 March 2023 |
59,680 |
|
57,282 |
|
116,962 |
|
At 31 March 2022 |
79,574 |
|
28,139 |
|
107,713 |
|
|
|
|
|
|
|
|
|
|
10 |
Other assets |
2023 |
£ |
|
Other assets |
|
At 1 April 2022 |
9,850 |
|
At 31 March 2023 |
9,850 |
|
|
|
|
|
|
|
|
|
11 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
40,375 |
|
55,185 |
|
Other debtors |
12,936 |
|
- |
|
Prepayments and accrued income |
60,897 |
|
102,464 |
|
|
|
|
|
|
114,208 |
|
157,649 |
|
|
|
|
|
|
|
|
|
|
12 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
11,585 |
|
4,396 |
|
Trade creditors |
13,383 |
|
43,698 |
|
Corporation tax |
- |
|
21,638 |
|
Other taxes and social security costs |
20,514 |
|
38,998 |
|
Other creditors |
12,375 |
|
32,000 |
|
|
|
|
|
|
57,857 |
|
140,730 |
|
|
|
|
|
|
|
|
|
|
13 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
31,250 |
|
20,839 |
|
Other creditors |
21,200 |
|
26,000 |
|
|
|
|
|
|
52,450 |
|
46,839 |
|
|
|
|
|
|
|
|
|
|
14 |
Obligations under finance leases and hire purchase |
2023 |
|
2022 |
|
contracts |
£ |
£ |
|
|
Amounts payable: |
|
Within one year |
11,585 |
|
4,396 |
|
Within two to five years |
31,250 |
|
20,839 |
|
|
|
|
|
|
42,835 |
|
25,235 |
|
|
|
|
|
|
|
|
|
|
|
15 |
Deferred taxation |
2023 |
|
2022 |
£ |
£ |
|
|
Accelerated capital allowances |
11,078 |
|
6,616 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
2022 |
£ |
£ |
|
|
At 1 April |
6,616 |
|
10,319 |
|
Charged/(credited) to the statement of income |
4,462 |
|
(3,703) |
|
|
At 31 March |
11,078 |
|
6,616 |
|
|
|
|
|
|
|
|
|
|
|
16 |
Share capital |
Nominal |
|
2023 |
|
2023 |
|
2022 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
30,452 |
|
30,452 |
|
30,452 |
|
B Ordinary shares |
£1 each |
|
7,144 |
|
7,144 |
|
7,144 |
|
|
|
|
|
|
37,596 |
|
37,596 |
|
|
|
|
|
|
|
|
|
|
17 |
Share premium |
2023 |
|
2022 |
£ |
£ |
|
|
At 1 April |
87,405 |
|
87,405 |
|
|
At 31 March |
87,405 |
|
87,405 |
|
|
|
|
|
|
|
|
|
|
18 |
Dividends |
2023 |
|
2022 |
£ |
£ |
|
|
Dividends on ordinary shares |
- |
|
200,000 |
|
|
|
|
|
|
|
|
|
|
|
19 |
Presentation currency |
|
|
The financial statements are presented in Sterling. |
|
|
20 |
Legal form of entity and country of incorporation |
|
|
Rosan Helmsley Limited is a private company limited by shares and incorporated in England. |
|
|
21 |
Principal place of business |
|
|
The address of the company's registered office is: |
|
|
The Scalpel, 18th Floor |
|
52 Lime Street, London |
|
EC3M 7AF |
|
|
The address of the company's principal place of business is: |
|
1000 Cathedral Square |
|
Cathedral Hill |
|
Guildford |
|
Surrey |
|
GU2 7YL |