12 22 March 2024 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 128,347 34,625 162,972 30,540 30,540 132,432 128,347 xbrli:pure xbrli:shares iso4217:GBP 13843630 2022-10-01 2023-09-30 13843630 2023-09-30 13843630 2022-09-30 13843630 2022-01-12 2022-09-30 13843630 2022-09-30 13843630 2022-01-11 13843630 bus:Director1 2022-10-01 2023-09-30 13843630 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 13843630 core:FurnitureFittings 2022-09-30 13843630 core:FurnitureFittings 2023-09-30 13843630 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-10-01 2023-09-30 13843630 core:FurnitureFittings 2022-10-01 2023-09-30 13843630 core:WithinOneYear 2023-09-30 13843630 core:WithinOneYear 2022-09-30 13843630 core:ShareCapital 2023-09-30 13843630 core:ShareCapital 2022-09-30 13843630 core:RetainedEarningsAccumulatedLosses 2023-09-30 13843630 core:RetainedEarningsAccumulatedLosses 2022-09-30 13843630 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-09-30 13843630 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-09-30 13843630 core:FurnitureFittings 2022-09-30 13843630 bus:SmallEntities 2022-10-01 2023-09-30 13843630 bus:Audited 2022-10-01 2023-09-30 13843630 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 13843630 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 13843630 bus:FullAccounts 2022-10-01 2023-09-30 13843630 core:OfficeEquipment 2022-09-30 13843630 core:OfficeEquipment 2022-10-01 2023-09-30 13843630 core:OfficeEquipment 2023-09-30 13843630 core:AllAssociates 2022-10-01 2023-09-30
COMPANY REGISTRATION NUMBER: 13843630
Roland Mouret Ltd
Filleted Financial Statements
30 September 2023
Roland Mouret Ltd
Financial Statements
Year ended 30 September 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Roland Mouret Ltd
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
132,432
128,347
Tangible assets
6
27,032
22,585
---------
---------
159,464
150,932
Current assets
Stocks
531,549
Debtors
7
229,327
108,943
Cash at bank and in hand
3,080,429
762,769
------------
---------
3,841,305
871,712
Creditors: amounts falling due within one year
8
8,067,972
3,793,061
------------
------------
Net current liabilities
4,226,667
2,921,349
------------
------------
Total assets less current liabilities
( 4,067,203)
( 2,770,417)
------------
------------
Net liabilities
( 4,067,203)
( 2,770,417)
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 4,067,303)
( 2,770,517)
------------
------------
Shareholders deficit
( 4,067,203)
( 2,770,417)
------------
------------
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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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 22 March 2024 , and are signed on behalf of the board by:
Mr H Chong
Director
Company registration number: 13843630
Roland Mouret Ltd
Notes to the Financial Statements
Year ended 30 September 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 Harella House, 90-98 Goswell Road, London, EC1V 7DF, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In preparing the accounts and reviewing the company net liability position of £4,067,203, the director has considered going concern. Confirmation has been received from the parent company that they will provide financial support for the company's continued operation for a period of not less than one year from the signing of these financial statements. This includes not recalling intercompany debts due to other group companies unless repayments is possible. The director recognises that without the support from its parent company there is material uncertainty to the company's ability to continue as a going concern, however the director has no reason to believe the funding will be withdrawn. As a result the financial statements have been prepared on a going concern basis.
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. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
20% reducing balance
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Equipment
-
33% straight line
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2022: 5 ).
5. Intangible assets
Development costs
£
Cost
At 1 October 2022
128,347
Additions
34,625
---------
At 30 September 2023
162,972
---------
Amortisation
Charge for the year
30,540
---------
At 30 September 2023
30,540
---------
Carrying amount
At 30 September 2023
132,432
---------
At 30 September 2022
128,347
---------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 October 2022
16,651
8,457
25,108
Additions
13,435
13,435
--------
--------
--------
At 30 September 2023
16,651
21,892
38,543
--------
--------
--------
Depreciation
At 1 October 2022
1,601
922
2,523
Charge for the year
3,010
5,978
8,988
--------
--------
--------
At 30 September 2023
4,611
6,900
11,511
--------
--------
--------
Carrying amount
At 30 September 2023
12,040
14,992
27,032
--------
--------
--------
At 30 September 2022
15,050
7,535
22,585
--------
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
143,717
Amounts owed by group undertakings
100
100
Other debtors
85,510
108,843
---------
---------
229,327
108,943
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
241,808
Amounts owed to group undertakings
7,328,685
3,522,752
Social security and other taxes
12,830
Other creditors
497,479
257,479
------------
------------
8,067,972
3,793,061
------------
------------
9. Summary audit opinion
The auditor's report dated 22 March 2024 was unqualified .
The senior statutory auditor was Andrew Collyer , for and on behalf of Burgess Hodgson LLP .
10. Related party transactions
At the year end, the company was owed £100 (2022: £100) by companies under common control/directorship, and owed £7,328,685 (2022: £3,522,752) to companies under common control/directorship.