Company registration number 09327058 (England and Wales)
ROSE SIXTEEN LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
ROSE SIXTEEN LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
6
7,662,726
2,672,370
Current assets
Debtors
7
274,522
445,699
Cash at bank and in hand
219,609
49,023
494,131
494,722
Creditors: amounts falling due within one year
8
(4,456,386)
(2,580,869)
Net current liabilities
(3,962,255)
(2,086,147)
Total assets less current liabilities
3,700,471
586,223
Provisions for liabilities
(878,538)
-
0
Net assets
2,821,933
586,223
Capital and reserves
Called up share capital
200
200
Revaluation reserve
11
3,514,150
-
0
Profit and loss reserves
(692,417)
586,023
Total equity
2,821,933
586,223

These financial statements have been prepared in accordance with FRS 102 Section 1A and the provisions applicable to companies entitled to the small companies exemption under the Companies Act 2006.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 8 May 2026 and are signed on its behalf by:
Mr M Nicholas
Director
Company registration number 09327058 (England and Wales)
ROSE SIXTEEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 2 -
1
Accounting policies
Company information

Rose Sixteen Limited is a private company limited by shares incorporated in England and Wales. The registered office is Group Accounts Office, Moth Club, Old Trades Hall, Valette Street, London, E9 6NU.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: Disclosure of compensation for key management personnel, along with all other required related‑party information.

The financial statements of the company are consolidated in the financial statements of Solitaire Restaurants Holdings Limited. These consolidated financial statements are available from its registered office, Group Accounts Office, Moth Club, Old Trades Hall, Valette Street, London E9 6NU UK.

ROSE SIXTEEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 3 -
1.2
Going concern

For the year ended 31 May 2025, the company reported a loss, which arose primarily as a result of a non‑cash revaluation adjustment in respect of its freehold property. Excluding this revaluation movement, the company generated an operating profit during the year.true

At the reporting date, the company had net current liabilities of £3,962,255. Included within creditors falling due within one year is an amount of £2,188,992 owed to fellow group undertakings within the Solitaire Group, arising from intercompany loans. The directors confirm that there is no intention for these balances to be repaid in full or on demand, and the loans are considered to provide ongoing long‑term financial support to the company.

Notwithstanding the above, the company remains solvent, with net assets of £2,821,933 at 31 May 2025, supported principally by the carrying value of its freehold property of £7,662,726. The company has no external borrowings and held cash balances of £219,609 at the reporting date.

The directors have reviewed cash flow forecasts and considered the continued support of the wider group. Based on this assessment, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, and for a period of at least 12 months from the date of approval of the financial statements. Accordingly, the financial statements have been prepared on the going concern basis.

1.3
Turnover

Revenue represents the fair value of consideration received or receivable from the sale of food, drink and other hospitality services, stated net of VAT and discounts.

Revenue from bar sales, soft drinks and food is recognised at the point of sale, when the goods are provided to the customer and the customer obtains control of the goods.

The company does not have material financing components, as sales are typically settled at the time of the transaction

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold Buildings
1.60% on a straight-line basis
Land
Land is not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The policy is based on the useful life of the asset. Should a revaluation occur, depreciation on the asset would be over the remaining useful life and on the revalued amount. Please refer to Note 5, where the remaining useful life will be disclosed for each asset that has been revalued. The directors are responsible for obtaining the valuations for the buildings, and where third-party valuations have been carried out, this will be indicated in Note 5.

ROSE SIXTEEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

ROSE SIXTEEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 5 -

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Classification of 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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, in which case the liability is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities that are payable within one year are not amortised.. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss unless it relates to a transaction recognised as other comprehensive income or directly in equity, in which case the tax is also recognised in other comprehensive income or directly in equity respectively.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ROSE SIXTEEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The Group operates a centralised payroll. All employees are contractually employed by Rose Fifteen Limited and provide services to the Group’s subsidiaries. In the consolidated financial statements, employee benefit costs (including wages and salaries, employer’s national insurance and pension contributions) are recognised in the profit or loss of the subsidiaries (or functions) that receive the benefit of the employees’ services, with a corresponding elimination of intra‑group recharges on consolidation. Therefore the average employee numbers in the subsidiaries will only have the directors. The consolidated financials for the group and Rose fifteen will have the actual average employee numbers in the respective years.

Employee benefits are accounted for in accordance with FRS 102 Section 28. Short‑term employee benefits are recognised as an expense as the related service is provided. Contributions to defined contribution pension schemes are recognised in the period in which the associated service is rendered.

2
Judgements and key sources of estimation uncertainty

The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Statement of Financial Position date and the amounts reported for revenue and expenses during the period. However, the nature of estimates means that actual outcomes could differ from those estimates or judgements. The directors do not consider there to be any significant accounting estimates that would cause a material adjustment to the carrying amounts of assets and liabilities within the next financial year. The following judgements have had the most significant effect on amounts recognised in the financial statements:

The entity makes use of a 4-4-5 financial system for financial reporting and as a result this results a mismatch between the financial year end and the end of the 4-4-5 period , as such there could be minor differences due to timing which the directors expect due to the system used , however this will not impact the overall financial position and performance of the entity.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Rental income
345,385
270,000
Income Earned from principal activites
8,476
-
353,861
270,000
2025
2024
£
£
Other revenue
Interest income
1,391
-
ROSE SIXTEEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
5
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
86,819
180,432
Deferred tax
Origination and reversal of timing differences
878,538
-
0
Total tax charge
965,357
180,432

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
211,917
721,728
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
52,979
180,432
Tax effect of expenses that are not deductible in determining taxable profit
912,856
-
0
Permanent capital allowances in excess of depreciation
(478)
-
0
Taxation charge for the year
965,357
180,432
ROSE SIXTEEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 8 -
6
Tangible fixed assets
Land and buildings
£
Cost or valuation
At 1 June 2024
2,672,370
Additions
1,613,480
Revaluation
3,514,150
At 31 May 2025
7,800,000
Depreciation and impairment
At 1 June 2024
-
0
Depreciation charged in the year
137,274
At 31 May 2025
137,274
Carrying amount
At 31 May 2025
7,662,726
At 31 May 2024
2,672,370

Land and buildings were revalued by the Directors o n the basis of market value. The valuation was based on recent market transactions on arm's length terms for similar properties.

The revaluation surplus is disclosed in note 11.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Freehold Buildings
2025
2024
£
£
Cost
4,285,850
2,672,370
Accumulated depreciation
(137,274)
-
Carrying value
4,148,576
2,672,370
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
272,820
-
0
Other debtors
1,702
445,699
274,522
445,699
ROSE SIXTEEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 9 -
8
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
-
0
(1,500)
Amounts owed to group undertakings
2,188,992
1,219,176
Corporation tax
68,819
118,432
Other taxation and social security
64,976
2
Other creditors
2,133,599
1,244,759
4,456,386
2,580,869
9
Parent company

The ultimate parent company is Solitaire Restaurants Holdings Limited, a company registered in England and Wales.

Solitaire Restaurants Holdings Limited prepares group financial statements.

10
Related party transactions
Balances with related parties

The following amounts were outstanding at the reporting end date:

Amounts owed by
Amounts owed to
related parties
related parties
2025
2024
2025
2024
£
£
£
£
Solitaire Resturant Holdings Ltd
-
0
-
0
(2,188,992)
(1,219,176)
0
South London Pubs Ltd
272,820
-
0
-
0
-
0
Other information

There are no formal loan agreements or repayment terms in place, and the intercompany loan balance is repayable on demand.

11
Revaluation reserve
2025
2024
£
£
At the beginning of the year
-
0
-
0
Revaluation surplus arising in the year
3,514,150
-
0
At the end of the year
3,514,150
-
ROSE SIXTEEN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 10 -
12
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 May 2025 and of its loss 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.

Emphasis of Matter – Valuation of Buildings

We draw attention to Note 5 of the financial statements, which describes that the valuation of buildings has been determined by the directors. Such valuations are based on assumptions and estimates regarding future market conditions and other factors, which are inherently uncertain. The directors have not engaged an independent external valuer in determining these valuations.

Therefore, the assurance obtained from audit work performed was based on valuation done by the directors.

Our opinion is not modified in respect of this matter

Senior Statutory Auditor:
Paul Winter
Statutory Auditor:
Taylor Associates
Date of audit report:
8 May 2026
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