Rollers (UK) Limited - Accounts to registrar (filleted) - small 18.2

ROLLERS (UK) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JULY 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

7

DIRECTORS:

P R Sharp

J Dickson

S C Lousada

SECRETARY:

P R Sharp

REGISTERED OFFICE:

11 Roebuck Way

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8HL

REGISTERED NUMBER:

02591137 (England and Wales)

ACCOUNTANTS:

Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

FIXED ASSETS

Tangible assets

3

15,000

18,000

Investment property

4

4,318,875

4,796,624

4,333,875

4,814,624

CURRENT ASSETS

Debtors

5

771,427

725,690

Cash at bank

138,663

95,263

910,090

820,953

CREDITORS

Amounts falling due within one year

6

342,404

782,613

NET CURRENT ASSETS

567,686

38,340

TOTAL ASSETS LESS CURRENT LIABILITIES

4,901,561

4,852,964

CREDITORS

Amounts falling due after more than one year

7

1,765,200

1,882,600

NET ASSETS

3,136,361

2,970,364

CAPITAL AND RESERVES

Called up share capital

197,500

197,500

Share premium

770,679

770,679

Non-distributable retained

earnings

6,155

6,155

Retained earnings

2,162,027

1,996,030

SHAREHOLDERS' FUNDS

3,136,361

2,970,364

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

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

The financial statements were approved by the Board of Directors on 14th February 2020 and were signed on its behalf by:

P R Sharp - Director

S C Lousada - Director

1.	STATUTORY INFORMATION

Rollers (UK) 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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to

the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Related party exemption

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.

Turnover

For the year under review, turnover represents rents and other recharges received stated net of value added tax.

Turnover is recognised on completion of contractual service to the tenant.

Tangible fixed assets

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

Fixtures and fittings

-

10% on cost

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at

fair value at each reporting date with changes in fair value recognised in profit or loss. No formal valuation has

taken place during the year by a professional independent valuer. The current fair value is based on a recognised

valuation model.

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.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st August 2018

and 31st July 2019

30,000

DEPRECIATION

At 1st August 2018

12,000

Charge for year

3,000

At 31st July 2019

15,000

NET BOOK VALUE

At 31st July 2019

15,000

At 31st July 2018

18,000

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st August 2018

4,796,625

Disposals

(477,750

)

At 31st July 2019

4,318,875

NET BOOK VALUE

At 31st July 2019

4,318,875

At 31st July 2018

4,796,625

Fair value at 31st July 2019 is represented by:

£

Valuation in 2017

6,155

Cost

4,312,720

4,318,875

If investment properties had not been revalued they would have been included at the following historical cost:

31/7/19

31/7/18

£

£

Cost

4,312,720

5,084,220

No formal independent valuation was carried out in the year to 31st July 2019. The investment property is stated

at fair value based on a suitable valuation model.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/19

31/7/18

£

£

Trade debtors

153,397

126,397

Amounts owed by related companies

62,200

49,293

Other debtors

555,830

550,000

771,427

725,690

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/19

31/7/18

£

£

Bank loans and overdrafts

117,400

117,400

Trade creditors

-

1,680

Corporation tax

39,923

19,047

VAT

72,531

50,421

Amounts due to related party

65,842

580,123

Accruals and deferred income

46,708

13,942

342,404

782,613

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/7/19

31/7/18

£

£

Bank loans

1,765,200

1,882,600

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/7/19

31/7/18

£

£

Bank loans

1,882,600

2,000,000

Bank borrowings are secured by first legal charges over the company's freehold investment properties.

9.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party of the company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Rollers (UK) Limited for the year ended 31st July 2019 which comprise the Statement of

Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Rollers (UK) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rollers (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Rollers (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rollers (UK) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rollers (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rollers (UK) Limited. You consider that Rollers (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rollers (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

11th March 2020