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REGISTERED NUMBER: 01041602 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ROLO PROPERTIES LIMITED

ROLO PROPERTIES LIMITED (REGISTERED NUMBER: 01041602)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

ROLO PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr A A Clark FCA
Miss G L Woolley





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 01041602 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

ROLO PROPERTIES LIMITED (REGISTERED NUMBER: 01041602)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 653 768
Investment property 5 290,000 290,000
290,653 290,768

CURRENT ASSETS
Debtors 6 1,395 -
Cash at bank 83,085 77,230
84,480 77,230
CREDITORS
Amounts falling due within one year 7 7,709 7,489
NET CURRENT ASSETS 76,771 69,741
TOTAL ASSETS LESS CURRENT
LIABILITIES

367,424

360,509

PROVISIONS FOR LIABILITIES 8 33,416 25,396
NET ASSETS 334,008 335,113

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 333,908 335,013
SHAREHOLDERS' FUNDS 334,008 335,113

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ROLO PROPERTIES LIMITED (REGISTERED NUMBER: 01041602)

BALANCE SHEET - continued
31 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2023 and were signed on its behalf by:





Mr A A Clark FCA - Director


ROLO PROPERTIES LIMITED (REGISTERED NUMBER: 01041602)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Rolo Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

ROLO PROPERTIES LIMITED (REGISTERED NUMBER: 01041602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 1,998 23,288 25,286
DEPRECIATION
At 1 April 2022 1,998 22,520 24,518
Charge for year - 115 115
At 31 March 2023 1,998 22,635 24,633
NET BOOK VALUE
At 31 March 2023 - 653 653
At 31 March 2022 - 768 768

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 290,000
NET BOOK VALUE
At 31 March 2023 290,000
At 31 March 2022 290,000

The original cost of the investment property was £46,117.

On 25th October 2017, the investment property was valued for probate by Rackhams Surveyors Limited, Chartered Surveyors, at £290,000.

At 31st March 2023, given the current uncertainty in the economy as a whole, the Directors consider it inappropriate to update the current valuation.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income 1,395 -

ROLO PROPERTIES LIMITED (REGISTERED NUMBER: 01041602)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 4,422 4,365
Directors' current accounts 1,684 1,684
Accruals and deferred income 1,603 1,440
7,709 7,489

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 33,416 25,396

Deferred
tax
£   
Balance at 1 April 2022 25,396
Provided during year 8,020
Balance at 31 March 2023 33,416

9. RESERVES
Retained
earnings
£   

At 1 April 2022 335,013
Profit for the year 10,895
Dividends (12,000 )
At 31 March 2023 333,908

Included in reserves is an amount of £207,734 which relates to the the revaluation of the property. This amount is non-distributable.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ROLO PROPERTIES LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rolo Properties Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Rolo Properties Limited 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 Rolo Properties Limited. You consider that Rolo Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rolo Properties Limited. 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.






Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE


12 April 2023