2022-08-012023-07-312023-07-31false02838631Rothko 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Rothko Limited

Registered Number
02838631
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

Rothko Limited
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

Claire Parker
Amy Vincent

Registered Address

Grove House
2 Woodberry Grove
London
N12 0DR

Registered Number

02838631 (England and Wales)
Rothko Limited
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets31,840,1221,807,249
Investments41,720,6421,617,778
3,560,7643,425,027
Current assets
Debtors63,104,8823,199,802
Cash at bank and on hand2,286,4192,051,941
5,391,3015,251,743
Creditors amounts falling due within one year7(192,392)(408,618)
Net current assets (liabilities)5,198,9094,843,125
Total assets less current liabilities8,759,6738,268,152
Provisions for liabilities8(290,895)(262,759)
Net assets8,468,7788,005,393
Capital and reserves
Called up share capital100100
Other reserves1,058,7831,187,363
Profit and loss account7,409,8956,817,930
Shareholders' funds98,468,7788,005,393
The financial statements were approved and authorised for issue by the Board of Directors on 17 April 2024, and are signed on its behalf by:
Claire Parker
Director
Registered Company No. 02838631
Rothko Limited
Notes to the Financial Statements
for the year ended 31 July 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The presentation currency of the financial statements is the Pound Sterling (£).
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover represents sales of services net of VAT and trade discounts. Turnover is recognised when the services are provided to the customer.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current 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 statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings10
Fixtures and fittings10
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20232022
Average number of employees during the year44
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 August 221,823,129
Additions37,331
At 31 July 231,860,460
Depreciation and impairment
At 01 August 2215,880
Charge for year4,458
At 31 July 2320,338
Net book value
At 31 July 231,840,122
At 31 July 221,807,249
4.Fixed asset investments

Total

£
Cost or valuation
At 01 August 221,617,778
Revaluations102,864
At 31 July 231,720,642
Net book value
At 31 July 231,720,642
At 31 July 221,617,778
5.Revaluation of fixed asset investments

2023

2022

££
Investments(102,865)116,121
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables2,2362,236
Amounts owed by associates and joint ventures / participating interests3,042,6072,993,013
Other debtors58,150202,718
Prepayments and accrued income1,8891,835
Total3,104,8823,199,802
7.Creditors: amounts due within one year

2023

2022

££
Taxation and social security127,412248,629
Other creditors60,221155,271
Accrued liabilities and deferred income4,7594,718
Total192,392408,618
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)290,895262,759
Total290,895262,759
9.Fair value reserve
10.Departures from standards and their financial impact
Land and building held and used in the Company's own activities for administration purposes are stated in the statement of financial position at their revalued amounts. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position. Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve. In order to give a true and fair view, depreciation previously provided on 'Building Improvements' will no longer be charged since it is now has being included as part of the 'Freehold building'. In accordance with the provisions applicable to companies subject to the small companies' regime, no depreciation is provided in respect of freehold property. This represents a departure from the Companies Act 2006 requirements concerning the depreciation of fixed assets. The directors consider that the adoption of this policy is necessary to give a true and fair view. Once the property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.