Rolfe East (Letting and Management) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05702169 (England and Wales)

Financial Statements for the Year Ended 31 March 2019

for

Rolfe East (Letting and Management) Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Rolfe

Mr S East

Mr J Hadfield

Mr R Barrett

SECRETARY:

Mr A Rolfe

REGISTERED OFFICE:

51 The Mall

Ealing

London

W5 3TA

REGISTERED NUMBER:

05702169 (England and Wales)

ACCOUNTANTS:

Campbell & Co

Uplands Court

Stowupland Road

Stowmarket

Suffolk

IP14 5AN

BANKERS:

Allied Irish Bank (GB)

14 Neeld Parade

Wembley

Middlesex

HA9 6SW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

827,034

849,721

827,034

849,721

CURRENT ASSETS

Debtors

475,622

433,243

Prepayments and accrued income

3,754

-

Cash at bank and in hand

120,977

102,001

600,353

535,244

CREDITORS

Amounts falling due within one year

327,628

385,929

NET CURRENT ASSETS

272,725

149,315

TOTAL ASSETS LESS CURRENT LIABILITIES

1,099,759

999,036

CREDITORS

Amounts falling due after more than one year

(351,996

)

(400,987

)

PROVISIONS FOR LIABILITIES

(8,769

)

(10,717

)

NET ASSETS

738,994

587,332

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

6

314,623

314,623

Retained earnings

423,371

271,709

SHAREHOLDERS' FUNDS

738,994

587,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 November 2019 and were signed on its behalf by:

Mr A Rolfe - Director

1.	STATUTORY INFORMATION

Rolfe East (Letting and Management) Ltd 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Paid for Goodwill in respect of incomplete work in progress & sales leads from Rolfe East (South West London)

Ltd has been amortised over it's useful life of 1 year, being the being time expected to convert work in progress

and sales leads to income.

Paid for Goodwill in respect of incomplete work in progress, sales leads and trade goodwill from Rolfe East

(West London) Ltd, has been amortised over it's expected useful life of 10 years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2018 - 45 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

and 31 March 2019

360,000

AMORTISATION

At 1 April 2018

and 31 March 2019

360,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2018

1,028,423

Additions

2,879

Disposals

(27,350

)

At 31 March 2019

1,003,952

DEPRECIATION

At 1 April 2018

178,702

Charge for year

18,567

Eliminated on disposal

(20,351

)

At 31 March 2019

176,918

NET BOOK VALUE

At 31 March 2019

827,034

At 31 March 2018

849,721

Included in cost or valuation of land and buildings is freehold land of £ 771,333 (2018 - £ 771,333 ) which is not

depreciated.

Cost or valuation at 31 March 2019 is represented by:

Totals

£

Valuation in 2015

161,590

Valuation in 2016

226,242

Valuation in 2018

(73,209

)

Cost

689,329

1,003,952

If freehold land & buildings had not been revalued they would have been included at the following historical

cost:

31/3/19

31/3/18

£

£

Cost

456,710

456,710

Value of land in freehold land and buildings

456,710

456,710

Freehold land and buildings were valued on an open market value basis on 31 December 2016 by the directors .

6.

RESERVES

Revaluation

reserve

£

At 1 April 2018

and 31 March 2019

314,623

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2019 and

31 March 2018:

31/3/19

31/3/18

£

£

Mr S East

Balance outstanding at start of year

96,122

87,036

Amounts advanced

62,081

51,854

Amounts repaid

-

(42,768

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

158,203

96,122

Mr A Rolfe

Balance outstanding at start of year

40,730

48,993

Amounts advanced

49,798

40,255

Amounts repaid

(100,000

)

(48,518

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(9,472

)

40,730

Mr J Hadfield

Balance outstanding at start of year

-

-

Amounts advanced

14,030

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

14,030

-

Mr R Barrett

Balance outstanding at start of year

-

-

Amounts advanced

14,030

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

14,030

-

The directors were provided with interest free loans as detailed during the year and in accordance with the terms

of the related agreement.

All the loans are due to be repaid by 31st December 2019

8.	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.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr A Rolfe.

The ultimate controlling party is Mr S East.