Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3122022-04-01falseProperty investment2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06968351 2022-04-01 2023-03-31 06968351 2021-04-01 2022-03-31 06968351 2023-03-31 06968351 2022-03-31 06968351 2021-04-01 06968351 c:Director1 2022-04-01 2023-03-31 06968351 d:OfficeEquipment 2022-04-01 2023-03-31 06968351 d:OfficeEquipment 2023-03-31 06968351 d:OfficeEquipment 2022-03-31 06968351 d:FreeholdInvestmentProperty 2022-04-01 2023-03-31 06968351 d:FreeholdInvestmentProperty 2023-03-31 06968351 d:FreeholdInvestmentProperty 2022-03-31 06968351 d:CurrentFinancialInstruments 2023-03-31 06968351 d:CurrentFinancialInstruments 2022-03-31 06968351 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06968351 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 06968351 d:ShareCapital 2023-03-31 06968351 d:ShareCapital 2022-03-31 06968351 d:RetainedEarningsAccumulatedLosses 2023-03-31 06968351 d:RetainedEarningsAccumulatedLosses 2022-03-31 06968351 c:FRS102 2022-04-01 2023-03-31 06968351 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06968351 c:FullAccounts 2022-04-01 2023-03-31 06968351 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06968351 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 06968351 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 06968351










ROLLEM ASSOCIATES LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
ROLLEM ASSOCIATES LTD
REGISTERED NUMBER: 06968351

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 5 
-
2,960,000

Current assets
  

Debtors: amounts falling due within one year
 6 
3,970
149,338

Cash at bank and in hand
  
3,203,394
53,681

  
3,207,364
203,019

Creditors: amounts falling due within one year
 7 
(1,593,474)
(2,272,199)

Net current assets/(liabilities)
  
 
 
1,613,890
 
 
(2,069,180)

Total assets less current liabilities
  
1,613,890
890,820

Provisions for liabilities
  

Deferred tax
 8 
-
(22,425)

Net assets
  
1,613,890
868,395


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
1,613,889
868,394

  
1,613,890
868,395


Page 1

 
ROLLEM ASSOCIATES LTD
REGISTERED NUMBER: 06968351
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 income and retained earnings 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 on 13 October 2023.



C H Pears
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ROLLEM ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Rollem Associates Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Weatherstones Hooton Lane, Ravenfield, Rotherham, S65 4NQ. The principal activity of the Company throughout the year continued to be that of a property investment company. 

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 Company’s functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

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:

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.

 
2.3

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Page 3

 
ROLLEM ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

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, as follows. 

The depreciation rates used are:

Office equipment
-
33%
Straight line

he 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 the Statement of Income and Retained Earnings. 

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings. 

 
2.6

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of the financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties. 
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 4

 
ROLLEM ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Office equipment

£



Cost


At 1 April 2022
846



At 31 March 2023

846



Depreciation


At 1 April 2022
846



At 31 March 2023

846



Net book value



At 31 March 2023
-



At 31 March 2022
-

Page 5

 
ROLLEM ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Investment property


Freehold investment property

£





At 1 April 2022
2,960,000


Disposals
(2,960,000)



At 31 March 2023
-

The 2023 valuations were made by the directors, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
-
2,874,535

Page 6

 
ROLLEM ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Other debtors
1,868
149,338

Deferred taxation
2,102
-

3,970
149,338



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
703,544

Amounts owed to group undertakings
1,494,143
1,494,143

Corporation tax
96,043
34,670

Other taxation and social security
-
10,671

Accruals and deferred income
3,288
29,171

1,593,474
2,272,199


All prior years charges and securities given by the company have been satisfied during this financial period.

Page 7

 
ROLLEM ASSOCIATES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Deferred taxation




2023
2022


£

£






At beginning of year
22,425
22,138


Charged to the Statement of Income and Retained Earnings
(24,527)
287



At end of year
(2,102)
22,425

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,102)
22,425


9.


Related party transactions

Included in other creditors is a loan from Rollem Property Limited of £1,494,143 (2022: £1,494,143). The loan is interest free and repayable on demand.


10.


Controlling party

Rollem Associates is a wholly owned subsidiary of Rollem Property Limited. It's ultimate controlling party is C H Pears.

 
Page 8