Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-12-312023-01-01falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13966591 2023-01-01 2023-12-31 13966591 2022-03-09 2022-12-31 13966591 2023-12-31 13966591 2022-12-31 13966591 c:Director2 2023-01-01 2023-12-31 13966591 d:Buildings 2023-01-01 2023-12-31 13966591 d:PlantMachinery 2023-01-01 2023-12-31 13966591 d:CurrentFinancialInstruments 2023-12-31 13966591 d:CurrentFinancialInstruments 2022-12-31 13966591 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13966591 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13966591 d:ShareCapital 2023-12-31 13966591 d:ShareCapital 2022-12-31 13966591 d:RetainedEarningsAccumulatedLosses 2023-12-31 13966591 d:RetainedEarningsAccumulatedLosses 2022-12-31 13966591 c:OrdinaryShareClass1 2023-01-01 2023-12-31 13966591 c:OrdinaryShareClass1 2023-12-31 13966591 c:OrdinaryShareClass1 2022-12-31 13966591 c:OrdinaryShareClass2 2023-01-01 2023-12-31 13966591 c:OrdinaryShareClass2 2023-12-31 13966591 c:OrdinaryShareClass2 2022-12-31 13966591 c:FRS102 2023-01-01 2023-12-31 13966591 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13966591 c:FullAccounts 2023-01-01 2023-12-31 13966591 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13966591 d:Subsidiary1 2023-01-01 2023-12-31 13966591 d:Subsidiary1 1 2023-01-01 2023-12-31 13966591 d:Subsidiary2 2023-01-01 2023-12-31 13966591 d:Subsidiary2 1 2023-01-01 2023-12-31 13966591 d:Subsidiary3 2023-01-01 2023-12-31 13966591 d:Subsidiary3 1 2023-01-01 2023-12-31 13966591 c:Consolidated 2023-12-31 13966591 c:ConsolidatedGroupCompanyAccounts 2023-01-01 2023-12-31 13966591 2 2023-01-01 2023-12-31 13966591 5 2023-01-01 2023-12-31 13966591 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13966591









FELIX ROSENSTIEL'S GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FELIX ROSENSTIEL'S GROUP LIMITED
REGISTERED NUMBER: 13966591

CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Tangible assets
 4 
2,937,853
2,971,247

Investments
 5 
60,000
110,000

  
2,997,853
3,081,247

Current assets
  

Stocks
 7 
22,795
22,330

Debtors: amounts falling due within one year
 8 
424,501
223,291

Cash at bank and in hand
 9 
2,072,123
2,411,931

  
2,519,419
2,657,552

Creditors: amounts falling due within one year
 10 
(450,874)
(669,708)

Net current assets
  
 
 
2,068,545
 
 
1,987,844

Total assets less current liabilities
  
5,066,398
5,069,091

Creditors: amounts falling due after more than one year
 11 
(258,042)
(324,945)

Provisions for liabilities
  

Net assets excluding pension asset
  
4,808,356
4,744,146

Net assets
  
4,808,356
4,744,146


Capital and reserves
  

Called up share capital 
 12 
1,966
1,966

Revaluation reserve
  
605,892
605,892

Profit and loss account
  
4,200,498
4,136,288

Equity attributable to owners of the parent Company
  
4,808,356
4,744,146

  
4,808,356
4,744,146


Page 1

 
FELIX ROSENSTIEL'S GROUP LIMITED
REGISTERED NUMBER: 13966591
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr D A Roe
Director

Date: 6 August 2024

The notes on pages 5 to 13 form part of these financial statements.

Page 2

 
FELIX ROSENSTIEL'S GROUP LIMITED
REGISTERED NUMBER: 13966591

COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
11,083
11,083

  
11,083
11,083

Current assets
  

Debtors: amounts falling due within one year
 8 
2,059,026
4,000,873

Cash at bank and in hand
 9 
2,000,100
10

  
4,059,126
4,000,883

Creditors: amounts falling due within one year
 10 
(25,302)
(12,500)

Net current assets
  
 
 
4,033,824
 
 
3,988,383

Total assets less current liabilities
  
4,044,907
3,999,466

  

  

Net assets excluding pension asset
  
4,044,907
3,999,466

Net assets
  
4,044,907
3,999,466


Capital and reserves
  

Called up share capital 
 12 
1,966
1,966

Profit and loss account
  
4,042,941
3,997,500

  
4,044,907
3,999,466


Page 3

 
FELIX ROSENSTIEL'S GROUP LIMITED
REGISTERED NUMBER: 13966591
    
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Mr D A Roe
Director

Date: 6 August 2024

The notes on pages 5 to 13 form part of these financial statements.

Page 4

 
FELIX ROSENSTIEL'S GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Felix Rosenstiel's Group Limited is a private company limited by shares and incorporated in England and Wales (Registered No. 13966591). The registered office address is 101 New Cavendish Street, London, W1W 6XH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 08 March 2022.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 5

 
FELIX ROSENSTIEL'S GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 6

 
FELIX ROSENSTIEL'S GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold land and buildings
-
2%
straight line basis on buildings
Plant and machinery
-
33%
straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 7

 
FELIX ROSENSTIEL'S GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 8

 
FELIX ROSENSTIEL'S GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 28 (2022 - 24).


4.


Tangible fixed assets

Group






Land and buildings
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 January 2023
3,011,361
783,480
3,794,841



At 31 December 2023

3,011,361
783,480
3,794,841



Depreciation


At 1 January 2023
69,676
753,920
823,596


Charge for the period on owned assets
11,711
21,682
33,393



At 31 December 2023

81,387
775,602
856,989



Net book value



At 31 December 2023
2,929,974
7,878
2,937,852



At 31 December 2022
2,941,686
29,560
2,971,246

Land and buildings were last valued by Matthews & Goodman LLP who are independent of the company. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties at that time.

Page 9

 
FELIX ROSENSTIEL'S GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Fixed asset investments

Group





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
432,100



At 31 December 2023

432,100



Impairment


At 1 January 2023
322,100


Charge for the period
50,000



At 31 December 2023

372,100



Net book value



At 31 December 2023
60,000

Page 10

 
FELIX ROSENSTIEL'S GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.



Subsidiary undertakings





The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Felix Rosenstiel's Widow & Son Limited
101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH
Ordinary
100%
Markham Street Properties Limited
101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH
Ordinary
100%
Roebuck Road Properties Limited
101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH
Ordinary
100%


7.


Stocks

Group
Group
2023
2022
£
£

Raw materials and consumables
22,795
22,330

22,795
22,330


Page 11

 
FELIX ROSENSTIEL'S GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

8.


Debtors

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Trade debtors
373,139
162,837
-
-

Amounts owed by group undertakings
-
-
2,058,043
3,999,890

Other debtors
24,123
25,964
983
983

Prepayments and accrued income
27,239
34,490
-
-

424,501
223,291
2,059,026
4,000,873



9.


Cash and cash equivalents

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Cash at bank and in hand
2,072,122
2,411,931
2,000,100
10

2,072,122
2,411,931
2,000,100
10



10.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank loans
82,653
78,397
-
-

Trade creditors
190,236
350,933
-
-

Amounts owed to group undertakings
10,000
11,000
10,000
10,000

Corporation tax
42,378
9,874
12,802
-

Other taxation and social security
37,468
37,243
-
-

Other creditors
54,526
144,760
-
-

Accruals and deferred income
33,613
37,501
2,500
2,500

450,874
669,708
25,302
12,500


Page 12

 
FELIX ROSENSTIEL'S GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

11.


Creditors: Amounts falling due after more than one year

Group
Group
2023
2022
£
£

Loans
258,042
324,945

258,042
324,945


Bank borrowings
Bank borrowings are secured by a fixed charge over a freehold property. 


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:
Group
Group
2023
2022
£
£


Repayable by instalments
-
42,140

-
42,140


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



108,390 108,390 Ordinary A shares of £0.01 each
1,084
1,084
88,18288,182 Ordinary B shares of £0.01 each
882
882

1,966

1,966


 
Page 13