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COMPANY REGISTRATION NUMBER: 05499261
ROLLER PEN LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2023
ROLLER PEN LIMITED
FINANCIAL STATEMENTS
PERIOD FROM 29 SEPTEMBER 2022 TO 31 MARCH 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
ROLLER PEN LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2023
31 Mar 23
28 Sep 22
Note
£
£
£
Fixed assets
Investments
4
5,588,350
5,588,350
Creditors: amounts falling due within one year
5
1,270,063
1,270,063
------------
------------
Net current liabilities
1,270,063
1,270,063
------------
------------
Total assets less current liabilities
4,318,287
4,318,287
------------
------------
Capital and reserves
Called up share capital
3,700,001
3,700,001
Profit and loss account
618,286
618,286
------------
------------
Shareholder funds
4,318,287
4,318,287
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The company did not trade during the current period or prior period and has not made either a profit or loss.
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 December 2023 , and are signed on behalf of the board by:
K D Massey
Director
Company registration number: 05499261
ROLLER PEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 29 SEPTEMBER 2022 TO 31 MARCH 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 36-38 Park Green, Macclesfield, Cheshire, SK11 7NE, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 (The Financial Reporting Standard applicable in the UK and Republic of Ireland) applicable to small entities as outlined by Section 1A "small entities" and the requirements of the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Prestons Group Limited which can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: - Disclosures in respect of each class of share capital have not been presented. - No cash flow statement has been presented for the company. - Disclosures in respect of financial instruments have not been presented. - Disclosures in respect of share-based payments have not been presented. - No disclosure has been given for the aggregate remuneration of key management personnel.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current period or prior period and therefore no income statement is presented within these financial statements. There have been no movements in shareholder funds during the current period or prior period.
Consolidation
The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of an EEA State.
These financial statements present the results of the company only. Its financial statements are consolidated into the financial statements of Prestons Group Limited, a company incorporated in England and Wales (Registered office: 36-38 Park Green, Macclesfield, Cheshire SK11 7NE). A copy of the group accounts can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. 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 on the assets of the company after deducting all of its liabilities. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Shares in group companies
£
Cost
At 29 September 2022 and 31 March 2023
5,588,350
------------
Impairment
At 29 September 2022 and 31 March 2023
------------
Carrying amount
At 31 March 2023
5,588,350
------------
At 28 September 2022
5,588,350
------------
5. Creditors: amounts falling due within one year
31 Mar 23
28 Sep 22
£
£
Amounts owed to group companies
1,270,063
1,270,063
------------
------------
6. Related party transactions
The company has taken advantage of the exemption available in Section 33 of FRS102 "Related Party Disclosures" whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
7. Controlling party
The company's ultimate parent company is Prestons Group Limited, a company incorporated in England and Wales. A copy of its financial statements can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ.