Rose Clark Limited Filleted accounts for Companies House (small and micro)

ROSE CLARK LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 12984729

Rose Clark Limited

Filleted unaudited financial statements

31 October 2021

Rose Clark Limited

Statement of financial position

31 October 2021

	31 Oct 21
Note	£	£

Fixed assets

Investments	5		797,214

Current assets

Cash at bank and in hand	11,908

Creditors: amounts falling due within one year	6	( 753,947)
		---------
Net current liabilities			( 742,039)
			---------
Total assets less current liabilities			55,175

Provisions		( 13,000)
		-------
Net assets		42,175
		-------

Capital and reserves

Called up share capital	7	54
Other reserves	8	50,833
Profit and loss account	8	( 8,712)
		-------
Shareholders funds		42,175
		-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the period ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 26 July 2022 , and are signed on behalf of the board by:

Mrs L M Clark

Director

Company registration number: 12984729

Rose Clark Limited

Notes to the financial statements

period from 29 October 2020 to 31 October 2021

1. General information

The principal activity of the company is that of the holding of investments in quoted securities and also a holding company. The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Progeny Law and Tax, 1a Tower Square, Leeds, LS1 4DL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Income from fixed asset investments

Dividends are accounted for in accordance with FRS102 section 1A and thus included net, without any applicable tax credit. Income from fixed interest securities, government stocks and other interest receivable are included on an accruals basis.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investments

Listed investments are measured at fair value with changes in fair value being recognised in the statement of comprehensive income.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year, including the directors, amounted to 2.

5. Investments

Shares in group undertakings	Listed investments	Total
£	£	£

Fair value
At 29 October 2020	–	–	–
Additions	1	770,666	770,667
Disposals	–	( 37,795)	( 37,795)
Revaluations	–	64,342	64,342
	----	---------	---------
At 31 October 2021	1	797,213	797,214
	----	---------	---------
Impairment
At 29 October 2020 and 31 October 2021	–	–	–
	----	---------	---------

Carrying amount
At 31 October 2021	1	797,213	797,214
	----	---------	---------

Listed investments are shown at fair value, the cost of these investments at 31st October 2021 was £733,380.

6. Creditors: amounts falling due within one year

	31 Oct 21
	£

Other creditors	753,947
	---------

7. Called up share capital

Issued and called up

	31 Oct 21
	No.	£

Ordinary A shares of £ 1 each	51	51
Ordinary B shares of £ 1 each	1	1
Ordinary C shares of £ 1 each	1	1
Ordinary D shares of £ 1 each	1	1
	----	----
	54	54
	----	----

Shares issued and partly paid

	31 Oct 21
	No.	£

Ordinary A shares - £– paid of £ 1 each	51	–
Ordinary B shares - £– paid of £ 1 each	1	–
Ordinary C shares - £– paid of £ 1 each	1	–
Ordinary D shares - £– paid of £ 1 each	1	–
	----	----
	54	–
	----	----

Except as otherwise provided in the articles the four classes of shares rank pari passu in all respects, except that the 'B', 'C' and 'D' Ordinary shares carry no voting rights. See the articles for full details of the rights attaching to the different classes of shares.

8. Reserves

Profit and loss account - This reserve records accumulated realised profits. Fair value reserve - This reserve includes the cumulative annual fair value adjustments to listed investments of £63,833 along with related deferred tax of £13,000.