REGISTERED NUMBER: |
Rothley Holdings Limited |
Financial Statements |
for the Year Ended 31 December 2023 |
REGISTERED NUMBER: |
Rothley Holdings Limited |
Financial Statements |
for the Year Ended 31 December 2023 |
Rothley Holdings Limited (Registered number: 11934639) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Rothley Holdings Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditors |
Sterling House |
97 Lichfield Street |
Tamworth |
Staffordshire |
B79 7QF |
Rothley Holdings Limited (Registered number: 11934639) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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 |
Rothley Holdings Limited (Registered number: 11934639) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Rothley Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Rothley Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Rothley Group Limited, 22 Vantage Park, High View Close, Leicester, Leicestershire, LE4 9LJ. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Significant judgements and estimates |
The company makes estimates and assumptions concerning the future. Management are also required to |
exercise judgment in the process of applying the company’s accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of |
future events that are believed to be reasonable under the circumstances. |
The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below: |
In preparing these financial statements, the directors have made the following judgments: |
- A provision is recognised when the company has a present legal or constructive obligation as a result of a |
past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value of money and the risks specific to the liability. |
- Whether a present obligation is probable or not requires judgment. The nature and type of risks for these provisions differ and management’s judgment is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost, less accumulated impairment losses. |
Rothley Holdings Limited (Registered number: 11934639) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The Group has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Financial Assets are recognised when the Group becomes party to the contracts that gives rise to them and are classified as loans or borrowings, receivable, payables, financial instruments fair valued through profit and loss or available for sale financial assets as appropriate. The Group determines the classification of its financial assets and liabilities at initial recognition and, where allowed and appropriate, re-evaluate this designation at each financial year end. |
Financial liabilities are recognised when the Group becomes party to the contracts that give rise to them and are classified as loans or borrowings, receivables, payables, financial instruments fair valued through profit and loss or available for sale financial asset as appropriate. The Group determines the classification of its financial assets and liabilities at initial recognition and, where allowed and appropriate, re-evaluate this designation at each financial year end. |
When financial liabilities are recognised initially, they are measured at fair value, being the transaction price plus and directly attributable transaction costs. |
Taxation |
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit or loss, unless the charge is attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity, in which case the tax 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 reporting date. |
Deferred tax is calculated at the tax rates that are expected to apply to the year when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date. Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different years from their recognition in the financial statements. |
Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits. |
Borrowings |
Interest-bearing borrowings are initially recorded at fair value and subsequently measured at amortised cost. |
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. |
Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. |
Rothley Holdings Limited (Registered number: 11934639) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
In preparing the financial statements of the Group, transactions in currencies other than the functional currency of sterling are recognised at the spot rate at the dates of the transactions, or at an average rate where this rate approximates the actual rate at the date of the transaction. |
Pension costs and other post-retirement benefits |
Contributions to the Group's defined contribution pension scheme are charged to profit or loss in the year in which they become payable. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments. |
Share capital |
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. |
Operating leases and lease incentives |
Leases where substantially all risks and rewards incidental to ownership are retained by the lessors are classified as operating leases. Payments made under operating leases (net of any incentives received from the lessors) are recognised in profit or loss on a straight-line basis over the period of the lease. |
Incentives received to enter into an operating lease are credited to the profit and loss account, to reduce the lease expense, on a straight-line basis over the period of the lease. |
Employee benefits |
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. |
The cost of any unused holiday entitlement is recognised in the year in which the employee's services are received. |
Termination benefits are recognised immediately as an expense when the Group is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Rothley Holdings Limited (Registered number: 11934639) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | FIXED ASSET INVESTMENTS - continued |
The company directly owns 100% of the ordinary share capital of Money Redress Limited, a company registered in England and Wales with the registered office address of Vantage Park, 22 High View Close, Leicester, LE4 9LJ. The principal activity of Money Redress Limited is that of financial compensation claims services. |
The company directly owns 100% of the ordinary share capital of Processing Power Limited, a company registered in England and Wales with the registered office address of Vantage Park, 22 High View Close, Leicester, LE4 9LJ. The principal activity of Processing Power Limited is that of processing activity. |
The company directly owns 100% of the ordinary share capital of Rothley Law Limited, a company registered in England and Wales with the registered office address of Vantage Park, 22 High View Close, Leicester, LE4 9LJ. The principal activity of Rothley Law Limited is that of a solicitor firm. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | CASH AT BANK |
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Loans and other borrowings |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Loans and other borrowings |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Loans repayable in more than 5 years by instalments |
8,224,952 |
8,578,699 |
Rothley Holdings Limited (Registered number: 11934639) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
9. | DEFERRED TAX |
£ |
Balance at 1 January 2023 | ( |
) |
Credit to Income Statement during year | ( |
) |
Balance at 31 December 2023 | ( |
) |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary A | £0.00001 | - | - |
Ordinary C | £1 | 1 | 1 |
1 | 1 |
The ordinary A shares each carry one voting right. |
Preference shares |
Number: | Class: | Nominal value: | 2023 | 2022 |
£ | £ |
100 | Preference A shares | £0.01 | 1 | 1 |
100 | Preference C shares | £0.01 | 1 | 1 |
2 | 2 |
The preference shares are classified as liabilities in the balance sheet. The preference shares are redeemable by 31 December 2025. |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | ULTIMATE CONTROLLING PARTY |
Rothley Group Limited, which owns 99.95% of the issued share capital of Rothley Holdings Limited, is the ultimate parent undertaking. |
Copies of the Rothley Group Limited consolidated financial statements can be obtained from the company directors at Vantage Park, 22 High View Close, Leicester, LE4 9LJ. |