Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30true3truetruetrue2022-12-01falseBuying and Selling of own real estate3truefalse 09932213 2022-12-01 2023-11-30 09932213 2021-12-01 2022-11-30 09932213 2023-11-30 09932213 2022-11-30 09932213 2021-12-01 09932213 2 2021-12-01 2022-11-30 09932213 d:Director1 2022-12-01 2023-11-30 09932213 e:FreeholdInvestmentProperty 2023-11-30 09932213 e:FreeholdInvestmentProperty 2022-11-30 09932213 e:CurrentFinancialInstruments 2023-11-30 09932213 e:CurrentFinancialInstruments 2022-11-30 09932213 e:Non-currentFinancialInstruments 2023-11-30 09932213 e:Non-currentFinancialInstruments 2022-11-30 09932213 e:CurrentFinancialInstruments e:WithinOneYear 2023-11-30 09932213 e:CurrentFinancialInstruments e:WithinOneYear 2022-11-30 09932213 e:Non-currentFinancialInstruments e:AfterOneYear 2023-11-30 09932213 e:Non-currentFinancialInstruments e:AfterOneYear 2022-11-30 09932213 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-11-30 09932213 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2022-11-30 09932213 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-11-30 09932213 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2022-11-30 09932213 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-11-30 09932213 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2022-11-30 09932213 e:ShareCapital 2022-12-01 2023-11-30 09932213 e:ShareCapital 2023-11-30 09932213 e:ShareCapital 2021-12-01 2022-11-30 09932213 e:ShareCapital 2022-11-30 09932213 e:ShareCapital 2021-12-01 09932213 e:SharePremium 2022-12-01 2023-11-30 09932213 e:SharePremium 2023-11-30 09932213 e:SharePremium 2021-12-01 2022-11-30 09932213 e:SharePremium 2022-11-30 09932213 e:SharePremium 2021-12-01 09932213 e:SharePremium 2 2021-12-01 2022-11-30 09932213 e:InvestmentPropertiesRevaluationReserve 2022-12-01 2023-11-30 09932213 e:InvestmentPropertiesRevaluationReserve 2023-11-30 09932213 e:InvestmentPropertiesRevaluationReserve 2021-12-01 2022-11-30 09932213 e:InvestmentPropertiesRevaluationReserve 2022-11-30 09932213 e:InvestmentPropertiesRevaluationReserve 2021-12-01 09932213 e:InvestmentPropertiesRevaluationReserve 2 2021-12-01 2022-11-30 09932213 e:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 09932213 e:RetainedEarningsAccumulatedLosses 2023-11-30 09932213 e:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 09932213 e:RetainedEarningsAccumulatedLosses 2022-11-30 09932213 e:RetainedEarningsAccumulatedLosses 2021-12-01 09932213 e:RetainedEarningsAccumulatedLosses 2 2021-12-01 2022-11-30 09932213 e:AcceleratedTaxDepreciationDeferredTax 2023-11-30 09932213 e:AcceleratedTaxDepreciationDeferredTax 2022-11-30 09932213 d:FRS102 2022-12-01 2023-11-30 09932213 d:Audited 2022-12-01 2023-11-30 09932213 d:FullAccounts 2022-12-01 2023-11-30 09932213 d:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 09932213 d:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 09932213 f:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 09932213









ROLLCO PROPERTIES LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
ROLLCO PROPERTIES LIMITED
REGISTERED NUMBER: 09932213

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 5 
7,003,002
7,003,002

  
7,003,002
7,003,002

Current assets
  

Debtors: amounts falling due within one year
 6 
670,947
51,027

Cash at bank and in hand
 7 
209
3,480

  
671,156
54,507

Creditors: amounts falling due within one year
 8 
(1,003,357)
(374,088)

Net current liabilities
  
 
 
(332,201)
 
 
(319,581)

Total assets less current liabilities
  
6,670,801
6,683,421

Creditors: amounts falling due after more than one year
 9 
(2,826,139)
(3,104,682)

Provisions for liabilities
  

Deferred tax
 11 
(495,091)
(495,091)

  
 
 
(495,091)
 
 
(495,091)

Net assets
  
3,349,571
3,083,648


Capital and reserves
  

Called up share capital 
  
77
77

Share premium account
 12 
19,887
19,887

Investment property reserve
 12 
1,485,272
1,485,272

Profit and loss account
 12 
1,844,335
1,578,412

  
3,349,571
3,083,648

Page 1

 
ROLLCO PROPERTIES LIMITED
REGISTERED NUMBER: 09932213
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

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 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 on 22 August 2024.




G Malhotra
Director

The notes on pages 4 to 11 form part of these financial statements.
Page 2

 
ROLLCO PROPERTIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023


Called up share capital
Share premium account
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 December 2022
77
19,887
1,485,272
1,578,412
3,083,648


Comprehensive income for the year

Profit for the year
-
-
-
275,923
275,923
Total comprehensive income for the year
-
-
-
275,923
275,923


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(10,000)
(10,000)


At 30 November 2023
77
19,887
1,485,272
1,844,335
3,349,571



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2022


Called up share capital
Share premium account
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 December 2021
77
19,887
-
1,172,843
1,192,807


Comprehensive income for the year

Profit for the year
-
-
-
1,890,841
1,890,841
Total comprehensive income for the year
-
-
-
1,890,841
1,890,841

Property revaluation
-
-
1,485,272
(1,485,272)
-


At 30 November 2022
77
19,887
1,485,272
1,578,412
3,083,648


The notes on pages 4 to 11 form part of these financial statements.
Page 3

 
ROLLCO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Rollco Properties Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 09932213. The address of the registered office is 22/25 Paycooke Road, Basildon, Essex, United Kingdom, SS14 3DR. The nature of the company's operations and principal activities relate to the provision of rental properties. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The financial statements are presented in Sterling, which is the functional currency of the company and rounded to the nearest pound sterling.

The following principal accounting policies have been applied:

  
2.2

Revenue recognition

Turnover comprises of revenue recognised by the company in respect of rent invoiced, exclusive of Value Added Tax.
Rental income is recognised for the period for which it is payable. 

 
2.3

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Rollco Group Holdings Limited as at 30 November 2023 and these financial statements may be obtained from Companies House.

 
2.4

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.

Page 4

 
ROLLCO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

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

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

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.

 
2.9

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 5

 
ROLLCO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.10

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.
 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
ROLLCO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.
The directors do not believe that there have been judgements (apart from those involving estimates) made in the process of applying the above accounting policies that have had a significant effect on amounts recognised in the financial statements.


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 7

 
ROLLCO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 December 2022
7,003,002



At 30 November 2023
7,003,002

The 2023 valuations were made by the Directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
5,022,639
5,022,639

5,022,639
5,022,639


6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
656,885
51,027

Prepayments and accrued income
14,062
-

670,947
51,027



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
209
3,480

209
3,480


Page 8

 
ROLLCO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
193,974
224,915

Amounts owed to group undertakings
660,000
-

Corporation tax
82,470
95,133

Other taxation and social security
20,286
20,643

Accruals and deferred income
46,627
33,397

1,003,357
374,088


The company has a bank loan which is secured on the freehold investment property of the company. It has a fixed and floating charge placed on the property and on all the assets of the company, and also a third party guarantee amounting to £2,016,232.


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,518,721
1,664,491

Other creditors
1,307,418
1,440,191

2,826,139
3,104,682



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
193,974
224,915

Amounts falling due 1-2 years

Bank loans
193,974
224,915

Amounts falling due 2-5 years

Bank loans
581,923
674,646

Amounts falling due after more than 5 years

Bank loans
742,823
764,930

1,712,694
1,889,406


Page 9

 
ROLLCO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

11.


Deferred taxation




2023


£






At beginning of year
(495,091)



At end of year
(495,091)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(495,091)
(495,091)

(495,091)
(495,091)


12.


Reserves

Share premium account

The share premium account represents the premium arising on the issue of shares net of issue costs.

Investment property revaluation reserve

The investment property revaluation reserve represents cumulative effects of fair value adjustments net of deferred tax and other adjustments.

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.

Page 10

 
ROLLCO PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

13.


Related party transactions

The Company has taken advantage of the exemptions conferred in FRS102 Section 33 not to disclose transactions with other group companies where 100% of the voting rights are controlled within the group.
During the year the following transactions occurred and balances were due from/(to) other related parties:


2023
2022
£
£

Key management personnel
(1,307,418)
(1,440,190)
(1,307,418)
(1,440,190)


14.


Controlling party

The ultimate parent company is  Rollco Group Holdings Limited, a company registered in England and Wales.
The ultimate controlling party is S K Malhotra by virtue of his shareholding in the parent company. 

15.


Auditors' information

The auditors' report on the financial statements for the year ended 30 November 2023 was unqualified.

The audit report was signed on 22 August 2024 by Thomas Rogers BA ACA (Senior Statutory Auditor) on behalf of Haslers.

 
Page 11