ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

12-20 ROSINA STREET LIMITED - Company Information

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Caseware UK (AP4) 2018.0.196 2018.0.196 2018-06-302018-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-07-01 10017079 2017-07-01 2018-06-30 10017079 2018-06-30 10017079 2017-06-30 10017079 c:Director1 2017-07-01 2018-06-30 10017079 d:CurrentFinancialInstruments 2018-06-30 10017079 d:CurrentFinancialInstruments 2017-06-30 10017079 d:CurrentFinancialInstruments d:WithinOneYear 2018-06-30 10017079 d:CurrentFinancialInstruments d:WithinOneYear 2017-06-30 10017079 d:ShareCapital 2018-06-30 10017079 d:ShareCapital 2017-06-30 10017079 d:RetainedEarningsAccumulatedLosses 2018-06-30 10017079 d:RetainedEarningsAccumulatedLosses 2017-06-30 10017079 c:FRS102 2017-07-01 2018-06-30 10017079 c:AuditExempt-NoAccountantsReport 2017-07-01 2018-06-30 10017079 c:FullAccounts 2017-07-01 2018-06-30 10017079 c:PrivateLimitedCompanyLtd 2017-07-01 2018-06-30 10017079 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2017-07-01 2018-06-30 iso4217:GBP

Registered number: 10017079









12-20 ROSINA STREET LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2018
 
12-20 ROSINA STREET LIMITED
REGISTERED NUMBER: 10017079

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2018

2018
2017
£
£

Fixed assets
  

Investments
  
6,414,089
-

  
6,414,089
-

Current assets
  

Debtors: amounts falling due within one year
 5 
317,841
2,436,427

  
317,841
2,436,427

Creditors: amounts falling due within one year
 6 
(8,056,087)
(2,722,146)

Net current liabilities
  
 
 
(7,738,246)
 
 
(285,719)

Total assets less current liabilities
  
(1,324,157)
(285,719)

Net liabilities
  
(1,324,157)
(285,719)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(1,324,158)
(285,720)

  
(1,324,157)
(285,719)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2019.

Ruth Jacqueline Basrawy
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1
 
12-20 ROSINA STREET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

1.


General information

12-20 Rosina Street Limited is a private company limited by shares and registered in England and Wales.
The address of its registered office is Regina House, 124 Finchley Road, London, NW3 5JS.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

At the balance sheet date, the company had net liabilities of £1,324,157. The company is dependent on the continued financial support of its director and creditors who have confirmed their intention to support the company. On the basis of the aforementioned support, the director considers it appropriate to prepare the company's financial statements on the going concern basis.

 
2.4

Foreign currency translation

Functional and presentation currency
The Company's functional and presentational currency is GBP.

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

 
2.8

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.

Page 2
 
12-20 ROSINA STREET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2017 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
6,414,089



At 30 June 2018
6,414,089





5.


Debtors

2018
2017
£
£


Other debtors
317,841
2,436,427

317,841
2,436,427


Page 3
 
12-20 ROSINA STREET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018

6.


Creditors: Amounts falling due within one year

2018
2017
£
£

Other loans
8,052,087
2,720,146

Accruals and deferred income
4,000
2,000

8,056,087
2,722,146


The amounts included within other loans are secured by a fixed and floating charge over the assets of the company.

Page 4