Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-302023-04-302022-05-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12543856 2022-05-01 2023-04-30 12543856 2021-05-01 2022-04-30 12543856 2023-04-30 12543856 2022-04-30 12543856 c:Director1 2022-05-01 2023-04-30 12543856 c:RegisteredOffice 2022-05-01 2023-04-30 12543856 d:OfficeEquipment 2022-05-01 2023-04-30 12543856 d:OfficeEquipment 2023-04-30 12543856 d:OfficeEquipment 2022-04-30 12543856 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 12543856 d:CurrentFinancialInstruments 2023-04-30 12543856 d:CurrentFinancialInstruments 2022-04-30 12543856 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 12543856 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 12543856 d:ShareCapital 2023-04-30 12543856 d:ShareCapital 2022-04-30 12543856 d:RetainedEarningsAccumulatedLosses 2023-04-30 12543856 d:RetainedEarningsAccumulatedLosses 2022-04-30 12543856 c:FRS102 2022-05-01 2023-04-30 12543856 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 12543856 c:FullAccounts 2022-05-01 2023-04-30 12543856 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 12543856 2 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure
Company registration number: 12543856







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2023


ROTHCO HOLDINGS LIMITED






































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ROTHCO HOLDINGS LIMITED
 


 
COMPANY INFORMATION


Director
A J Rothstein 




Registered number
12543856



Registered office
Lynton House
7-12 Tavistock Square

London

WC1H 9LT




Accountants
Menzies LLP
Chartered Accountants

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


ROTHCO HOLDINGS LIMITED
REGISTERED NUMBER:12543856



STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
12,729
-

  
12,729
-

Current assets
  

Stocks
  
545,846
1,480,217

Debtors: amounts falling due within one year
 5 
399,035
214,070

Cash at bank and in hand
  
304,055
217,807

  
1,248,936
1,912,094

Creditors: amounts falling due within one year
 6 
(620,065)
(1,384,623)

Net current assets
  
 
 
628,871
 
 
527,471

Total assets less current liabilities
  
641,600
527,471

  

Net assets
  
641,600
527,471


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
641,599
527,470

  
641,600
527,471


Page 1

 


ROTHCO HOLDINGS LIMITED
REGISTERED NUMBER:12543856


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 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 income and retained earnings 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 31 October 2024.




A J Rothstein
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


ROTHCO HOLDINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Rothco Holdings Limited is a private company, limited by shares, domiciled in England and Wales, registration number 12543856. The registered office is disclosed on the company information page.

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 following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and
the revenue can be reliably measured. Revenue is generated through sale in commercial art gallaries and is
measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value
added tax and other sales taxes.

 
2.4

Interest income

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

 
2.5

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 reporting date in the countries where the Company operates and generates income.

Page 3

 


ROTHCO HOLDINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.6

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.

Depreciation 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:

Office equipment
-
20%
Straight line

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.

 
2.7

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 reporting 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.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.9

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 4

 


ROTHCO HOLDINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
15,911



At 30 April 2023

15,911



Depreciation


Charge for the year on owned assets
3,182



At 30 April 2023

3,182



Net book value



At 30 April 2023
12,729



At 30 April 2022
-


5.


Debtors

2023
2022
£
£


Other debtors
399,035
214,070

399,035
214,070



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
62,086
62,086

Trade creditors
40,779
1,021,682

Corporation tax
247,847
199,899

Other taxation and social security
105,323
99,912

Other creditors
157,530
1,044

Accruals and deferred income
6,500
-

620,065
1,384,623


Page 5

 


ROTHCO HOLDINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
62,086
62,086


62,086
62,086




62,086
62,086



8.


Prior year adjustment

During the year ended 30 April 2023, it was identified that stock that had been sold in prior years was still being shown as held by the company. The prior year adjustment has reduced the stock by £286,127, reduced the corporation tax liability by £54,364 and reduced the retained earnings bought forward by £231,763.


9.


Transactions with directors

Within other debtors is a balance of £216,734 (2022: within other creditors £1,044). During the year £220,036 was advanced to the director and £3,912 was repaid by the director. Interest of £1,654 (2022: £3,735) was charged on the loan within the year.

 
Page 6