Rodl & Partner Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06403025 (England and Wales)

RODL & PARTNER LIMITED

Audited Financial Statements for the Year Ended 31 December 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

I Farooq

Dr C Rodl

H Raible

REGISTERED OFFICE:

170 Edmund Street

Birmingham

B3 2HB

REGISTERED NUMBER:

06403025 (England and Wales)

AUDITORS:

Lancaster Haskins Limited Statutory Auditor

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

FIXED ASSETS

Tangible assets

4

62,604

72,216

CURRENT ASSETS

Debtors

5

1,210,663

1,100,403

Cash at bank and in hand

85,448

138,971

1,296,111

1,239,374

CREDITORS

Amounts falling due within one year

6

1,663,167

1,818,338

NET CURRENT LIABILITIES

(367,056

)

(578,964

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(304,452

)

(506,748

)

CAPITAL AND RESERVES

Called up share capital

903

903

Retained earnings

(305,355

)

(507,651

)

SHAREHOLDERS' FUNDS

(304,452

)

(506,748

)

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 25 September 2019 and were signed on its behalf by:

I Farooq - Director

1.	STATUTORY INFORMATION

Rodl & Partner Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling (£).

Turnover

Turnover represents net value of services provided excluding value added tax.

Fee income represents revenue earned under a wide variety of contracts to provide professional services.

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in

exchange for its performance under these contracts. It is measured at the fair value of the right to consideration,

which represents amounts chargeable to clients, including expenses and disbursements but excluding value added

tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the

partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual

of the right to consideration by reference to the value of work performed. Revenue not billed to clients is

included in debtors and payments on account in excess of the relevant amount of revenue are included in

creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event

occurs.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Over the term of the lease

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Going concern

The financial statements have been prepared on a going concern basis. This is based on the understanding that

the company has the continued support of the parent company.

Changes in accounting policies

In the absence of formal agreements, amounts owing to group companies are included in current liabilities.

Although this accords with FRS 102 Section 1A, the directors consider it unlikely that such liabilities will be

discharged within 12 months of the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2017 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Short

Computer

leasehold

equipment

Totals

£

£

£

COST

At 1 January 2018

20,920

167,166

188,086

Additions

-

38,943

38,943

At 31 December 2018

20,920

206,109

227,029

DEPRECIATION

At 1 January 2018

6,276

109,594

115,870

Charge for year

2,092

46,463

48,555

At 31 December 2018

8,368

156,057

164,425

NET BOOK VALUE

At 31 December 2018

12,552

50,052

62,604

At 31 December 2017

14,644

57,572

72,216

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

949,026

713,698

Amounts owed by group undertakings

203,642

343,422

Other debtors

57,995

43,283

1,210,663

1,100,403

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

120,802

-

Trade creditors

77,961

21,469

Amounts owed to group undertakings

1,272,761

1,601,550

Social security and other taxes

125,818

93,448

Other creditors

65,825

101,871

1,663,167

1,818,338

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.18

31.12.17

£

£

Within one year

96,957

76,205

Between one and five years

387,827

304,820

In more than five years

145,435

190,513

630,219

571,538

8.	FINANCIAL INSTRUMENTS

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference shares or non-puttable ordinary shares which are measured at fair value, with changed recognised in

profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with

changes recognised in profit or loss.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Edward Thompson BA ACA (Senior Statutory Auditor)

for and on behalf of Lancaster Haskins Limited Statutory Auditor

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

11.	APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns

to the tax authorities and assist with the preparation of the financial statements.

12.	ULTIMATE CONTROLLING PARTY

The highest controlling party of the group is Rodl & Partner Beteiligungsgesellschaft dbR, a partnership

established in Germany. This undertaking is controlled by Dr. Bernd Rodl and Dr. Christian Rodl due to their

controlling interest in that undertaking. No consolidated accounts are publicly available in respect of this

undertaking.