REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ROLCO 144 LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ROLCO 144 LIMITED |
ROLCO 144 LIMITED (REGISTERED NUMBER: 04240380) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ROLCO 144 LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Beckside Court |
Annie Reed Road |
Beverley |
East Yorkshire |
HU17 0LF |
ROLCO 144 LIMITED (REGISTERED NUMBER: 04240380) |
BALANCE SHEET |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ROLCO 144 LIMITED (REGISTERED NUMBER: 04240380) |
BALANCE SHEET - continued |
31 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
ROLCO 144 LIMITED (REGISTERED NUMBER: 04240380) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Rolco 144 Limited is a company limited by shares, incorporated and domiciled in England and has its registered office and its principle place of business at Studford Luxury Lodges, High Street, Ampleforth, York, YO62 4BH. |
The principal activity of the Company is letting of commercial property. |
The presentational currency of the financial statements is Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
Tangible fixed assets |
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. |
Land & buildings | - | 2% on cost |
Computer Equipment | - | 33% on cost |
Investment property |
Investment property is included at fair value. Movement in fair value is recognised in the income statement. Deferred taxation is provided on these gains/losses at the rate expected to apply when the property is sold. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
ROLCO 144 LIMITED (REGISTERED NUMBER: 04240380) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Fixed asset investments |
Fixed asset investments are included within the balance sheet at cost less any provision for impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
ROLCO 144 LIMITED (REGISTERED NUMBER: 04240380) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Revaluations | (50,000 | ) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2019 | 199,043 |
Valuation in 2024 | (50,000 | ) |
Cost | 600,957 |
750,000 |
The investment property was revalued in 2024, the directors consider this to be an accurate market value as at 31st March 2024. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Directors' current accounts | - | 1 |
VAT |
ROLCO 144 LIMITED (REGISTERED NUMBER: 04240380) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Directors' current accounts | - | 23,320 |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans |
Directors loan account | 468,911 | 600,000 |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | 51,590 | 62,985 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Included within other creditors are current account balances and loans from the directors. |
At the year end, the respective current account balances were as follows: |
Director Mr EJR Fawcett £Nil (2023: £23,318) |
Director Mr RJ Fawcett £Nil (2023: £Nil) |
At this year end and the previous year end, the respective loan account balances were Mr EJR Fawcett £468,911. |
The current account balances and loans do not carry any rights to interest and are repayable demand. |
ROLCO 144 LIMITED (REGISTERED NUMBER: 04240380) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
12. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company was owed from it's related parties: |
Tofalns Limited £22,378 owed to (2023: £38,263 owed from). |
Studford Luxury Lodges Limited £795,546 (2023: £759,301). |
The White Swan (Ampleforth) Limited £159,177 (2023: £21,000). |
Related through shared directors. |
13. | RESERVES |
Undistributable reserves are included of £120,725 due to the revaluation of investment properties. |