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REGISTERED NUMBER: 00310885 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ROLLINGS COMMERCIAL LIMITED

ROLLINGS COMMERCIAL LIMITED (REGISTERED NUMBER: 00310885)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROLLINGS COMMERCIAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs D B Barton
Mrs C E Churn
Mrs Z A Napier
Mrs H A M P Rollings
Miss J A Rollings





SECRETARY: Mrs D B Barton





REGISTERED OFFICE: c/o Zoe Napier & Associates Limited
The Toll House
Fullbridge Quay
Maldon
Essex
CM9 4LE





REGISTERED NUMBER: 00310885 (England and Wales)





ACCOUNTANTS: RE Group Accountants Limited
The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ

ROLLINGS COMMERCIAL LIMITED (REGISTERED NUMBER: 00310885)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 105,134 104,702
Investments 5 10,301 10,301
Investment property 6 4,208,596 3,257,295
4,324,031 3,372,298

CURRENT ASSETS
Stocks 50,000 92,553
Debtors 7 120,952 134,592
Cash at bank and in hand 172,641 251,311
343,593 478,456
CREDITORS
Amounts falling due within one year 8 291,418 318,650
NET CURRENT ASSETS 52,175 159,806
TOTAL ASSETS LESS CURRENT LIABILITIES 4,376,206 3,532,104

PROVISIONS FOR LIABILITIES 38,900 -
NET ASSETS 4,337,306 3,532,104

CAPITAL AND RESERVES
Called up share capital 9 20,000 20,000
Revaluation reserve 10 2,035,068 1,190,446
Retained earnings 2,282,238 2,321,658
SHAREHOLDERS' FUNDS 4,337,306 3,532,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

ROLLINGS COMMERCIAL LIMITED (REGISTERED NUMBER: 00310885)

BALANCE SHEET - continued
31 MARCH 2024


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 1 August 2024 and were signed on its behalf by:





Mrs C E Churn - Director


ROLLINGS COMMERCIAL LIMITED (REGISTERED NUMBER: 00310885)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Rollings Commercial 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.

The financial statements are presented in sterling which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

Preparation of consolidated financial statements
The financial statements contain information about Rollings Commercial Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the invoiced amount, net of VAT, of rental income, and sundry fee income together with completed contracts and sales derived from developmental activities.

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 etc - 20% on cost and 10% on cost

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses or fair value. Cost includes costs directly attributable to making the asset capable of operating as intended. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


ROLLINGS COMMERCIAL LIMITED (REGISTERED NUMBER: 00310885)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 88,404 67,792 156,196
Additions - 6,983 6,983
At 31 March 2024 88,404 74,775 163,179
DEPRECIATION
At 1 April 2023 - 51,494 51,494
Charge for year - 6,551 6,551
At 31 March 2024 - 58,045 58,045
NET BOOK VALUE
At 31 March 2024 88,404 16,730 105,134
At 31 March 2023 88,404 16,298 104,702

Freehold properties are included at a valuation of £88,404 (2023: £88,404). The directors consider this to be the value of the assets based on a professional valuation undertaken in 2015, adjusted for alterations to the building made since.

ROLLINGS COMMERCIAL LIMITED (REGISTERED NUMBER: 00310885)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 10,301
NET BOOK VALUE
At 31 March 2024 10,301
At 31 March 2023 10,301

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,257,295
Additions 106,680
Revaluations 844,621
At 31 March 2024 4,208,596
NET BOOK VALUE
At 31 March 2024 4,208,596
At 31 March 2023 3,257,295

Investment properties are included at a valuation of £4,208,596 (2023: £3,257,295). The directors consider this to be the fair value based on professional valuation reports undertaken in 2024.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 108,637 110,229
Other debtors 12,315 24,363
120,952 134,592

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 37,375 2,923
Amounts owed to group undertakings 10,301 10,301
Taxation and social security 48,963 41,109
Other creditors 194,779 264,317
291,418 318,650

ROLLINGS COMMERCIAL LIMITED (REGISTERED NUMBER: 00310885)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20,000 Ordinary 1 20,000 20,000

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023 1,190,446
Revaluation 844,622

At 31 March 2024 2,035,068