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Company registration number: 10006880
The Rosewood Capital Group Limited
Unaudited filleted financial statements
30 September 2024
The Rosewood Capital Group Limited
Contents
Director and other information
Statement of financial position
Notes to the financial statements
The Rosewood Capital Group Limited
Director and other information
Director Mr M J Redford
Secretary Redford Secretarial Services Limited
Company number 10006880
Registered office First Floor
64 Baker Street
London
W1U 7GB
Accountants Redford & Co Limited
Chartered Accountants
First Floor
64 Baker Street
London
W1U 7GB
The Rosewood Capital Group Limited
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 6,084 -
Tangible assets 6 1,775,000 1,775,000
Investments 7 286,956 286,956
_______ _______
2,068,040 2,061,956
Current assets
Debtors 8 3,697,585 2,798,167
Investments 9 212,447 204,232
Cash at bank and in hand 69,340 11,494
_______ _______
3,979,372 3,013,893
Creditors: amounts falling due
within one year 10 ( 2,221,480) ( 1,875,552)
_______ _______
Net current assets 1,757,892 1,138,341
_______ _______
Total assets less current liabilities 3,825,932 3,200,297
_______ _______
Net assets 3,825,932 3,200,297
_______ _______
Capital and reserves
Called up share capital 1,000,000 1,000,000
Profit and loss account 2,825,932 2,200,297
_______ _______
Shareholders funds 3,825,932 3,200,297
_______ _______
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 February 2025 , and are signed on behalf of the board by:
Mr M J Redford
Director
Company registration number: 10006880
The Rosewood Capital Group Limited
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is First Floor, 64 Baker Street, London, W1U 7GB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Trademark - 10 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is not calculated due to the asset held appreciating in value.
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 October 2023 - -
Additions 6,760 6,760
_______ _______
At 30 September 2024 6,760 6,760
_______ _______
Amortisation
At 1 October 2023 - -
Charge for the year 676 676
_______ _______
At 30 September 2024 676 676
_______ _______
Carrying amount
At 30 September 2024 6,084 6,084
_______ _______
At 30 September 2023 - -
_______ _______
6. Tangible assets
Artwork EQ/Picasso photo collection Total
£ £
Cost
At 1 October 2023 and 30 September 2024 1,775,000 1,775,000
_______ _______
Depreciation
At 1 October 2023 and 30 September 2024 - -
_______ _______
Carrying amount
At 30 September 2024 1,775,000 1,775,000
_______ _______
At 30 September 2023 1,775,000 1,775,000
_______ _______
7. Investments
Shares in group undertakings and participating interests Other investments other than loans Total
£ £ £
Cost
At 1 October 2023 and 30 September 2024 35,000 251,956 286,956
_______ _______ _______
Impairment
At 1 October 2023 and 30 September 2024 - - -
_______ _______ _______
Carrying amount
At 30 September 2024 35,000 251,956 286,956
_______ _______ _______
At 30 September 2023 35,000 251,956 286,956
_______ _______ _______
8. Debtors
2024 2023
£ £
Other debtors 3,697,585 2,798,167
_______ _______
9. Investments
2024 2023
£ £
Investments in stocks 212,447 204,232
_______ _______
10. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 2,051 6,024
Other creditors 2,219,429 1,869,528
_______ _______
2,221,480 1,875,552
_______ _______
11. Controlling party
The company was controlled throughout the current year by Mr G Ludovissy and Mrs D Ludovissy by virtue of their majority holding of the ordinary shares of the company.