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Registered number: 00428647









T. ROGERS & CO. (HOLDINGS) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
T. ROGERS & CO. (HOLDINGS) LIMITED
REGISTERED NUMBER: 00428647

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023


2023

2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
1,350,002
1,350,002

Investments
 5 
228,904
228,904

  
1,578,906
1,578,906

Current assets
  

Debtors: amounts falling due within one year
 6 
12,500
5,100

Cash at bank and in hand
 7 
596
1,318

  
13,096
6,418

Creditors: amounts falling due within one year
 8 
(303,190)
(293,790)

Net current liabilities
  
 
 
(290,094)
 
 
(287,372)

Total assets less current liabilities
  
1,288,812
1,291,534

Provisions for liabilities
  

Deferred tax
 9 
(315,619)
(315,619)

Net assets
  
973,193
975,915


Capital and reserves
  

Called up share capital 
 10 
100,000
100,000

Revaluation reserve
  
834,381
834,381

Profit and loss account
  
38,812
41,534

  
973,193
975,915


Page 1

 
T. ROGERS & CO. (HOLDINGS) LIMITED
REGISTERED NUMBER: 00428647
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 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 25 September 2024.




R J Pepprell
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
T. ROGERS & CO. (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

T. Rogers & Co. (Holdings) Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 1A Broughton Street, Battersea, London, SW8 3QJ.
The company specialises in providing management services to the company's subsidiary, T. Rogers & Co. (Packers) Limited, whose activities are those of shipping, forwarding and storage.

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 company is the parent undertaking of a small group and as such it is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis, notwithstanding the net current liabilities of £290,094 (2022 - £287,372). The director has provided the company with an undertaking that he will continue to support the company for the foreseeable future, and specifically for a period of not less than twelve months from the date of signing these financial statements, which will enable it to meet its liabilities as they fall due.
On this basis, it remains appropriate to prepare the financial statements on the going concern basis.

 
2.3

Revaluation of tangible fixed assets

The freehold property is carried at fair value 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 Statement of financial position 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 the Statement of comprehensive income.

Page 3

 
T. ROGERS & CO. (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Other 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

Leasehold buildings
-
Over remaining lease term
Land
-
Not depreciated
Freehold buildings
-
Not depreciated
Other fixed assets
-
15 - 25% reducing balance

Land is not depreciated.
The freehold property is revalued annually to its open market value and no depreciation is provided. This is contrary to the Companies Act 2006 which requires that fixed assets should be depreciated. In the opinion of the director, this treatment is necessary in order to show a true and fair view. 
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 the Statement of comprehensive income.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

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.

 
2.7

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 4

 
T. ROGERS & CO. (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and amounts owed by group undertakings. 
Financial assets that are measured at cost and amortised cost are assessed at each reporting date for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.                         For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.               

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an 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.

 
2.9

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.

Page 5

 
T. ROGERS & CO. (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income. 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 reporting 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 reporting 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 reporting date.

 
2.11

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.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 6

 
T. ROGERS & CO. (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Freehold property
S/Term Leasehold Property
Plant and machinery
Motor vehicles
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
1,350,000
42,823
59,638
14,100
1,466,561



At 31 December 2023

1,350,000
42,823
59,638
14,100
1,466,561



Depreciation


At 1 January 2023
-
42,823
59,637
14,099
116,559



At 31 December 2023

-
42,823
59,637
14,099
116,559



Net book value



At 31 December 2023
1,350,000
-
1
1
1,350,002



At 31 December 2022
1,350,000
-
1
1
1,350,002

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


5.


Fixed asset investments





Investment in subsidiary

£



Cost and net book value


At 1 January 2023
228,904



At 31 December 2023
228,904




Page 7

 
T. ROGERS & CO. (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
12,500
5,100

12,500
5,100



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
596
1,318

596
1,318



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
106,578
106,578

Amounts owed to group undertakings
7,400
-

Other creditors
172,377
170,377

Accruals and deferred income
16,835
16,835

303,190
293,790


Page 8

 
T. ROGERS & CO. (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Deferred taxation




2023
2022


£

£






At beginning of year
315,619
315,619



At end of year
315,619
315,619

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Potential capital gain on property disposal
315,619
315,619

315,619
315,619


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100,000 Ordinary shares of £1 each
100,000
100,000



11.


Related party transactions

The balance owed to its subsidiary company at year end was £7,400 (2022 - £5,100 owed by). No provision has been made against this amount.
 
Included within other creditors is an amount of £2,956 (2022 - £13,456) due to the director.
 
At the year end the company has cumulative accrued interest of £13,722 (2022 - £13,722) due to the director.


12.


Controlling party

The ultimate controlling party is the director of the company by virtue of his majority shareholding.

 
Page 9