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Registered number: 09932240









ROLLCO GROUP HOLDINGS LIMITED







CONSOLIDATED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
G Malhotra 
S K Malhotra 
U Malhotra 




Registered number
09932240



Registered office
22/25 Paycocke Road
Basildon

Essex

SS14 3DR




Independent auditors
Haslers
Chartered Accountants & Statutory Auditor

Old Station Road

Loughton

Essex

IG10 4PL





 
ROLLCO GROUP HOLDINGS LIMITED
 

CONTENTS



Page
Group Strategic Report
 
1 - 2
Directors' Report
 
3 - 4
Directors' Responsibilities Statement
 
5
Independent Auditors' Report
 
6 - 10
Consolidated Statement of Comprehensive Income
 
11
Consolidated Balance Sheet
 
12
Company Balance Sheet
 
13
Consolidated Statement of Changes in Equity
 
14
Company Statement of Changes in Equity
 
15
Consolidated Statement of Cash Flows
 
16 - 17
Consolidated Analysis of Net Debt
 
18
Notes to the Financial Statements
 
19 - 37


 
ROLLCO GROUP HOLDINGS LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

Introduction
 
The principal activity of the Group in the year under review was that of the wholesale of automotive components in the after-market segment in the UK and Europe.

Business review
 
The business delivered a moderately improved performance during 2023-2024 and forecast to remain at in upwards trend.
2023-24 saw a significant increase in existing product lines range and long-term sales agreement with a major customer demonstrating the company’s continued ability to introduce and sell the new products in the market
.
In 2024-25, the focus shall be the rebalancing of portfolio by expanding brake Discs, Pads & Steering racks including other automotive parts thereby reducing the share of Rotating Electrics (Starter/Alternators) & Brake Calipers.
Further in 2025-26, Rolling Components are taking action to strengthen the sales team & and increase product lines and ranges to deliver better performance..

Principal risks and uncertainties
 
Principle risks affecting the business are operational risk and supply chain disruptions due to geo-political situation in Far east. 
Procurement 
Since more than 90% of purchases are from China, the company is vulnerable to market fluctuations. To minimise the impact, the company carries more than 8 months of stock which will help in managing the disruptions in the supply chain. In addition, long term arrangements have been finalised with key suppliers to manage the risk of price changes.
 
Currency 
More than 95% of procurement transactions are conducted in USD & RMB; hence, the risk of currency exposure is enhanced. The company actively manages the currency exposure by hedging through up to 70% through forward contracts. 
Interest risk 
Interest on loans is based on Bank of England's base rate (currently at 4.25%) plus margins and are likely to remain flat next year and forecast to decline marginally towards end of 2024-25. 
The increased sales performance and reduction of loan exposure have reduced this risk and further the interest outlook are also lijkely to turn favourable in 2024-25. Therefore, the Rolling Components do not require any interest hedging at present.
Credit and Liquidity 
Careful screening of new customers and dealing with only established and reputable Motor Factors/wholesalers have mitigates the risk of debtors' default and delays in collection
Competition Risk 
High competition levels will continue to be a factor in the sector. Competitors are looking to emulate our
Page 1

 
ROLLCO GROUP HOLDINGS LIMITED
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024

successful business model in certain areas of our business. The company seeks and secures long-term supply and pricing arrangements to ensure continuity of sales. 
Rolling Components already have long term agreements with key customers to ameliorate the competition risk.

Financial key performance indicators
 
Turnover and gross profit margin are the key performance indicators. 
During 2023-24, sales increased to £13.4m (2022-2023 £12.3m) due to stabilising market demands and extended product range.
Profits for the year after tax in 2023-24 were £ 1.6m (2022-23 £230k)).

Outlook and Post Balance Sheet Events
 
Post Covid-19, Polling Components have reverted to normal operations with no disruptions to supply performance. 
2024-25 is expected to grow steadily due to mix of volume/price increases and introduction of new products ranges within Brake Discs & Pads segment


This report was approved by the board on 29 August 2025 and signed on its behalf.



G Malhotra
Director

Page 2

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2024

The directors present their report and the financial statements for the year ended 30 November 2024.

Results and dividends

The profit for the year, after taxation, amounted to £1,612,488 (2023 - £765,955).

Directors

The directors who served during the year were:

G Malhotra 
S K Malhotra 
U Malhotra 

Future developments

Business development is the key growth driver for the business.
The Group can see opportunities as the world put COVID-19 lockdown scenario behind. With a lean organisation structure and proactive management, the Group is well equipped to leverage the opportunities into increased sales and profits in 2023-24. 

Financial instruments

The Group's operations expose it to a variety of financial risks that include the effects of changes in foreign currency exchange rates, credit risks, liquidity risk and interest rate risk.
The Group has in place a risk management programme that seeks to limit the adverse effect on the financial performance of the Group by monitoring levels of cash. The monitoring of financial risk management is the responsibility of the director.
Foreign currency risk
The Group's principal foreign currency exposures arise from overseas trade. The Group has hedging arrangements in place.
Credit risk
All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are reviewed on a regular basis and provision is made for doubtful debts when necessary. The directors maintain tight control over all amounts due to the Group.
Liquidity risk
The Group manages its cash and borrowing requirements to ensure that the Group has sufficient liquid resources to meet the operating needs of the business.
Interest rate risk
The Group has interest bearing assets and liabilities. Interest bearing assets include only cash balances that earn interest at a floating rate. Interest bearing liabilities only include bank borrowings.

Page 3

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Post balance sheet events

There have been no material events affecting the Group since the year end. 
The ultimate impact of Ukraine/Palestine war disruptions, COVID-19 on the UK, the world economies, are largely addressed. In addition, through appropriate consideration of risks as part of its normal risk management processes and mitigating actions both already taken and available to be taken, the directors consider it appropriate for the going concern basis to be adopted for these accounts. 

Auditors

The auditorsHaslerswill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 29 August 2025 and signed on its behalf.
 





G Malhotra
Director

Page 4

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 NOVEMBER 2024

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;


prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 5

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ROLLCO GROUP HOLDINGS LIMITED
 

Opinion


We have audited the financial statements of Rollco Group Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 November 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent Company's affairs as at 30 November 2024 and of the Group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 6

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ROLLCO GROUP HOLDINGS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Page 7

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ROLLCO GROUP HOLDINGS LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that:
•  had a direct effect on the determination of material amounts and disclosures in the financial statements.    These include but are not limited to the Companies Act 2006, GDPR, employment and Health & Safety    legislation and tax legislation, and 
•  do not have a direct effect on the financial statements but compliance with which may be fundamental to   the company’s ability to operate or to avoid a material penalty. These include operational and     employment laws and regulations including health and safety regulations, environmental regulations and    GDPR. 
We obtained an understanding of how the company are complying with those legal and regulatory frameworks by making enquiries with management and those responsible for legal and compliance frameworks. We corroborated our enquiries through review of correspondence with regulatory bodies and gaining an understanding of the entity level controls of the company in respect of these areas and the controls in place to reduce opportunity for fraudulent transactions. 
We have considered the control systems in place to prevent fraud from non-compliance with laws and regulations which are applicable to the company. 
We discussed among the audit engagement team including relevant internal tax specialists, regarding the opportunities and incentives, including management override of controls, that may exist within the organisation for fraud and how and where fraud might occur in the financial statements. We also communicated the applicable laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. 
 
Page 8

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ROLLCO GROUP HOLDINGS LIMITED (CONTINUED)


The risk of management override of controls is the area where the financial statements were most susceptible to material misstatement due to fraud. In addition, the key principal risks related to the existence of inappropriate journal entries to impact the profit for the year and management bias in accounting estimates. 
Procedures performed to address these were as follows:
• Walkthrough testing was carried out to identify and assess the design effectiveness of controls,     management have in place to prevent and detect fraud, including known of suspected instances or non-   compliance with laws and regulations and fraud, 
• Understanding how those charged with governance considered and addressed the potential for override    of controls or other inappropriate influence over the financial reporting process, 
• Using analytical procedures to identify any unusual or unexpected relationships that may indicate risks of   material misstatements due to fraud, 
• Assessing the appropriateness of accounting estimates and challenging any significant assumptions or    judgements made by management, 
• Incorporating testing of manual journal entries that were posted throughout the year. In particular, we    focused on material journal entries. These were scrutinised for evidence of unusual entries, 
• Selecting specific revenue transactions based on risk criteria and obtaining supporting documentation    including sales invoice to ensure revenue was appropriately recorded,  
• Reviewing specific cost of sale transactions based on risk criteria and reviewing invoice documentation    to ensure the expense was appropriately recorded, 
• Evaluated the business rationale of any significant transactions that are unusual or outside the normal    course of business. 
 


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Page 9

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ROLLCO GROUP HOLDINGS LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Thomas Rogers BA ACA (Senior Statutory Auditor)
for and on behalf of
Haslers
Chartered Accountants
Statutory Auditor
Old Station Road
Loughton
Essex
IG10 4PL

29 August 2025
Page 10

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024
2023
 
£
£

  

Turnover
 4 
13,442,013
12,181,980

Cost of sales
  
(9,020,966)
(8,353,940)

Gross profit
  
4,421,047
3,828,040

Distribution costs
  
(728,125)
(609,522)

Administrative expenses
  
(2,322,242)
(1,949,850)

Other operating income
 5 
79,178
75,147

Fair value movements
  
977,639
-

Operating profit
 6 
2,427,497
1,343,815

Interest payable and similar expenses
 11 
(273,460)
(346,918)

Profit before taxation
  
2,154,037
996,897

Tax on profit
 12 
(541,549)
(230,942)

Profit for the financial year
  
1,612,488
765,955

Profit for the year attributable to:
  

Owners of the parent Company
  
1,612,488
765,955

  
1,612,488
765,955

There were no recognised gains and losses for 2024 or 2023 other than those included in the consolidated statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 19 to 37 form part of these financial statements.

Page 11

 
ROLLCO GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 09932240

CONSOLIDATED BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 14 
191,922
205,615

Investment property
 16 
9,813,002
8,003,002

  
10,004,924
8,208,617

Current assets
  

Stocks
 17 
7,478,676
6,600,585

Debtors: amounts falling due within one year
 18 
4,086,348
3,816,183

Cash at bank and in hand
 19 
295,559
310,611

  
11,860,583
10,727,379

Creditors: amounts falling due within one year
 20 
(3,395,073)
(2,313,024)

Net current assets
  
 
 
8,465,510
 
 
8,414,355

Total assets less current liabilities
  
18,470,434
16,622,972

Creditors: amounts falling due after more than one year
 21 
(5,515,410)
(3,110,715)

Provisions for liabilities
  

Deferred taxation
 23 
(828,459)
(589,731)

  
 
 
(828,459)
 
 
(589,731)

Net assets
  
12,126,565
12,922,526


Capital and reserves
  

Called up share capital 
 24 
13,403
663,403

Capital redemption reserve
 25 
1,039,097
1,039,097

Investment property reserve
 25 
2,834,718
2,101,489

Profit and loss account
 25 
8,239,347
9,118,537

Equity attributable to owners of the parent Company
  
12,126,565
12,922,526


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 August 2025.


G Malhotra
Director

The notes on pages 19 to 37 form part of these financial statements.

Page 12

 
ROLLCO GROUP HOLDINGS LIMITED
REGISTERED NUMBER: 09932240

COMPANY BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 15 
13,403
13,403

  
13,403
13,403

Current assets
  

Debtors: amounts falling due within one year
 18 
1,760,254
753,805

  
1,760,254
753,805

Creditors: amounts falling due within one year
 20 
-
(102,000)

Net current assets
  
 
 
1,760,254
 
 
651,805

Total assets less current liabilities
  
1,773,657
665,208

  

Creditors: amounts falling due after more than one year
 21 
(1,758,449)
-

  

Net assets
  
15,208
665,208


Capital and reserves
  

Called up share capital 
 24 
13,403
663,403

Profit and loss account brought forward
  
1,805
93,805

Profit for the year
  
1,758,449
10,000

Other changes in the profit and loss account

  

(1,758,449)
(102,000)

Profit and loss account carried forward
  
1,805
1,805

  
15,208
665,208


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 August 2025.


G Malhotra
Director

The notes on pages 19 to 37 form part of these financial statements.

Page 13

 
ROLLCO GROUP HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024


Called up share capital
Capital redemption reserve
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 December 2023
663,403
1,039,097
2,101,489
9,118,537
12,922,526


Comprehensive income for the year

Profit for the year
-
-
-
1,612,488
1,612,488

Transfer on revaluation
-
-
733,229
(733,229)
-


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(1,758,449)
(1,758,449)

Shares redeemed during the year
(650,000)
-
-
-
(650,000)


At 30 November 2024
13,403
1,039,097
2,834,718
8,239,347
12,126,565



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


Called up share capital
Capital redemption reserve
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 December 2022
13,403
1,039,097
2,101,489
8,454,582
11,608,571


Comprehensive income for the year

Profit for the year
-
-
-
765,955
765,955


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(102,000)
(102,000)

Shares issued during the year
650,000
-
-
-
650,000


At 30 November 2023
663,403
1,039,097
2,101,489
9,118,537
12,922,526


The notes on pages 19 to 37 form part of these financial statements.

Page 14

 
ROLLCO GROUP HOLDINGS LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 December 2023
663,403
1,805
665,208


Comprehensive income for the year

Profit for the year
-
1,758,449
1,758,449


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,758,449)
(1,758,449)

Shares redeemed during the year
(650,000)
-
(650,000)


At 30 November 2024
13,403
1,805
15,208


The notes on pages 19 to 37 form part of these financial statements.


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


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 December 2022
13,403
93,805
107,208


Comprehensive income for the year

Profit for the year
-
10,000
10,000


Contributions by and distributions to owners

Dividends: Equity capital
-
(102,000)
(102,000)

Shares issued during the year
650,000
-
650,000


At 30 November 2023
663,403
1,805
665,208


The notes on pages 19 to 37 form part of these financial statements.

Page 15

 
ROLLCO GROUP HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
1,612,488
765,955

Adjustments for:

Depreciation of tangible assets
49,654
61,125

Loss on disposal of tangible assets
-
7,452

Interest paid
273,460
346,918

Taxation charge
541,549
230,941

(Increase)/decrease in stocks
(878,091)
1,317,951

(Increase) in debtors
(270,163)
(602,943)

Increase/(decrease) in creditors
2,115,985
(289,675)

Corporation tax (paid)
(237,470)
(169,171)

Net cash generated from operating activities

3,207,412
1,668,553


Cash flows from investing activities

Purchase of tangible fixed assets
(35,961)
(39,883)

Purchase of investment properties
(832,361)
-

Net fair value (gains)/losses recognised in P&L
(977,639)
-

Net cash from investing activities

(1,845,961)
(39,883)

Cash flows from financing activities

Issue of ordinary shares
-
650,000

Purchase of ordinary shares
(650,000)
-

New secured loans
883,246
-

Repayment of loans
-
(689,024)

Movements on invoice discounting
434,147
(887,162)

Dividends paid
(1,758,449)
(102,000)

Interest paid
(273,460)
(346,918)

Net cash used in financing activities
(1,364,516)
(1,375,104)

Net (decrease)/increase in cash and cash equivalents
(3,065)
253,566
Page 16

 
ROLLCO GROUP HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024


2024
2023

£
£



Cash and cash equivalents at beginning of year
76,641
(176,925)

Cash and cash equivalents at the end of year
73,576
76,641


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
295,559
310,611

Bank overdrafts
(221,983)
(233,970)

73,576
76,641


The notes on pages 19 to 37 form part of these financial statements.

Page 17

 
ROLLCO GROUP HOLDINGS LIMITED
 

CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 NOVEMBER 2024




At 1 December 2023
Cash flows
At 30 November 2024
£

£

£

Cash at bank and in hand

310,611

(15,052)

295,559

Bank overdrafts

(233,970)

11,987

(221,983)

Debt due after 1 year

(1,803,297)

(752,197)

(2,555,494)

Debt due within 1 year

(241,058)

(131,049)

(372,107)


(1,967,714)
(886,311)
(2,854,025)

The notes on pages 19 to 37 form part of these financial statements.

Page 18

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Rollco Group Holdings Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 09932240. The address of the registered office is 22/25 Paycocke Road, Basildon, Essex, United Kingdom, SS14 3DR. This is a non-trading holding company. The group holds investment property and is a wholesaler of car components.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

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

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

Page 19

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Sales are recognised on the date of delivery.
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.

Page 20

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.5

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

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.

 
2.7

Borrowing costs

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

 
2.8

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

 
2.9

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 and the Group operate and generate 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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.
Page 21

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.9
Current and deferred taxation (continued)


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.


 
2.10

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 methods below.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
straight line
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
10%
straight line
Other fixed assets
-
over the term of the lease

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.

 
2.11

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.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 22

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.13

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 balance sheet 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.

 
2.14

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.

 
2.15

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.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.16

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.

 
2.17

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.

Page 23

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.18

Financial instruments

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

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

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

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is
Page 24

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.18
Financial instruments (continued)

due within one year. If not, they represent non-current liabilities. Trade creditors 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.

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 Group 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 Group 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 Group's contractual obligations expire or are discharged or cancelled.

 
2.19

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 made in the process of applying the above accounting policies that have had a significant effect on amounts recognised in the financial statements. Furthermore, the directors consider that there are no areas of estimation uncertainty at the balance sheet date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.

Page 25

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Sales
13,442,013
12,181,980

13,442,013
12,181,980


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
12,537,741
11,048,170

Rest of Europe
904,272
1,133,810

13,442,013
12,181,980



5.


Other operating income

2024
2023
£
£

Ground rent receivable
61,680
61,200

Sundry income
17,498
13,947

79,178
75,147



6.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements
29,950
29,500

Exchange differences
(12,855)
19,843

Other operating lease rental income
(61,680)
(61,215)

Depreciation
49,654
61,125

Page 26

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

7.


Auditors' remuneration

During the year, the Group obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements
5,330
5,250


8.


Fees payable to the Group's auditor and its associates in respect of:

2024
2023
£
£



Audit of subsidiaries
24,620
24,250

Taxation compliance services
1,470
1,455

26,090
25,705


9.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
2024
2023
£
£


Wages and salaries
964,625
728,212

Social security costs
94,788
74,338

Cost of defined contribution scheme
17,095
12,963

1,076,508
815,513


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









Employees
33
28
3
3

Page 27

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

10.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
73,333
80,000

Group contributions to defined contribution pension schemes
2,400
2,400

75,733
82,400



11.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
167,638
174,721

Other loan interest payable
105,822
172,197

273,460
346,918


12.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
302,821
237,466

Total current tax
302,821
237,466

Deferred tax


Origination and reversal of timing differences
238,728
(6,524)

Total deferred tax
238,728
(6,524)


Tax on profit
541,549
230,942
Page 28

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
 
12.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 23%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
2,154,037
996,897


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23%)
538,509
229,286

Effects of:


Other differences leading to an increase (decrease) in the tax charge
3,040
1,656

Total tax charge for the year
541,549
230,942


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


13.


Dividends

2024
2023
£
£


Dividends
1,758,449
102,000

1,758,449
102,000

Page 29

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

14.


Tangible fixed assets

Group






Plant and machinery
Motor vehicles
Fixtures and fittings
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 December 2023
413,226
125,230
413,910
358,200
1,310,566


Additions
-
22,207
13,754
-
35,961


Disposals
-
(17,161)
-
-
(17,161)



At 30 November 2024

413,226
130,276
427,664
358,200
1,329,366



Depreciation


At 1 December 2023
379,419
83,574
283,758
358,200
1,104,951


Charge for the year on owned assets
8,114
12,202
29,338
-
49,654


Disposals
-
(17,161)
-
-
(17,161)



At 30 November 2024

387,533
78,615
313,096
358,200
1,137,444



Net book value



At 30 November 2024
25,693
51,661
114,568
-
191,922



At 30 November 2023
33,807
41,656
130,152
-
205,615

Page 30

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

15.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 December 2023
13,403



At 30 November 2024
13,403





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Rolling Components Limited
22-25 Paycocke Road, Basildon, Essex, 
SS14 3DR
Ordinary
100%
Rollco Properties Limited
22-25 Paycocke Road, Basildon, Essex, 
SS14 3DR
Ordinary
100%

The aggregate of the share capital and reserves as at 30 November 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Rolling Components Limited
8,090,456
927,756

Rollco Properties Limited
4,047,042
697,471

Page 31

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

16.


Investment property

Group


Freehold investment property

£



Valuation


At 1 December 2023
8,003,002


Additions at cost
832,361


Surplus on revaluation
977,639



At 30 November 2024
9,813,002

The 2024 valuations were made by Fenn Wright, 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:

2024
2023
£
£


Historic cost
6,079,393
5,247,032

6,079,393
5,247,032

2024
2023
£
£

Revaluation reserves


At 1 December 2023
-
-

Net surplus/(deficit) in movement properties
977,639
2,540,142

At 30 November 2024
977,639
2,540,142


17.


Stocks

Group
Group
2024
2023
£
£

Finished goods and goods for resale
7,478,676
6,600,585

7,478,676
6,600,585


Page 32

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

18.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Factored debts
3,461,190
3,557,354
-
-

Amounts owed by group undertakings
-
-
1,687,148
753,805

Other debtors
534,966
170,430
73,106
-

Prepayments and accrued income
90,192
88,399
-
-

4,086,348
3,816,183
1,760,254
753,805


The proceeds of factored debts advanced under an invoice discounting facility, are secured against the
book debts of the company and £150,000 personal guarantee by one of the directors, S K Malhotra.


19.


Cash and cash equivalents

Group
Group
2024
2023
£
£

Cash at bank and in hand
295,559
310,611

Less: bank overdrafts
(221,983)
(233,970)

73,576
76,641



20.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank overdrafts
221,983
233,970
-
-

Bank loans
372,107
241,058
-
-

Trade creditors
165,666
102,660
-
-

Corporation tax
302,821
237,466
-
-

Other taxation and social security
518,123
330,922
-
-

Proceeds of factored debts
602,724
168,577
-
-

Other creditors
1,006,096
764,608
-
102,000

Accruals and deferred income
205,553
233,763
-
-

3,395,073
2,313,024
-
102,000


Page 33

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

21.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
2,555,494
1,803,297
-
-

Other creditors
2,959,916
1,307,418
1,758,449
-

5,515,410
3,110,715
1,758,449
-


The bank loans are secured by a debenture over all property and assets of the company, first legal charge over a property owned by the company, and a guarantee by the directors S K Malhotra and U Malhotra for £2,600,000.


22.


Loans


Analysis of the maturity of loans is given below:


Group
Group
2024
2023
£
£

Amounts falling due within one year

Bank loans
372,107
241,058

Amounts falling due 1-2 years

Bank loans
427,378
234,036

Amounts falling due 2-5 years

Bank loans
1,282,998
702,109

Amounts falling due after more than 5 years

Bank loans
845,118
867,151

2,927,601
2,044,354


Page 34

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

23.


Deferred taxation


Group



2024


£






At beginning of year
(589,731)


Charged to profit or loss
(238,728)



At end of year
(828,459)







Group
Group
2024
2023
£
£

Accelerated capital allowances
(13,958)
(19,640)

Fair value movements
(814,501)
(570,091)

(828,459)
(589,731)


The net reversal of deferred tax assets and liabilities expected to reverse in the next year is £3,180 (2023: £5,682). This primarily relates to the reversal of timing differences on acquired tangible assets and capital allowances through depreciation.


24.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,340,300 (2023 - 1,340,300) Ordinary shares shares of £0.01 each
13,403
13,403
0 (2023 - 650,000) Redeemable preference shares shares of £1.00 each
-
650,000

13,403

663,403

During the year, £650,000 of share capital was redeemed. This redemption was funded from distributable reserves and the reduction in share capital has been reflected in both parent and consolidated accounts.


Page 35

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

25.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve represents cumulative effects of fair value adjustments on investment properties 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.


26.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contribution payable by the company to the fund and amounted to £17,095 (2023: £12,963). As at the year end the pensions payable balance was £Nil (2023: £236).


27.


Commitments under operating leases

At 30 November 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2024
2023
£
£

Not later than 1 year
652,425
650,448

Later than 1 year and not later than 5 years
1,309,329
1,917,510

1,961,754
2,567,958


28.Directors' personal guarantees

SK and U Malhotra have given personal guarantees of £2,600,000 (2023: £2,600,000) against the company's bank borrowings. 

Page 36

 
ROLLCO GROUP HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

29.


Related party transactions

During the year the following transactions occurred and balances were due from/(to) related parties:


2024
2023
£
£

Key management personnel
(2,503,989)
(1,307,418)
Other related parties
-
10,283
(2,503,989)
(1,297,135)


30.


Controlling party

The ultimate controlling party is S K Malhotra by virtue of his shareholding in the parent company.

Page 37