Rolco 188 Limited 31/03/2022 iXBRL

Rolco 188 Limited 31/03/2022 iXBRL

ROLCO 188 LIMITED - Company Information

Print Friendly Version

0 0 0 0 0 31/03/2022 2022-03-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04770987 2021-04-01 2022-03-31 04770987 2022-03-31 04770987 2020-04-01 2021-03-31 04770987 2021-03-31 04770987 2020-03-31 04770987 bus:RegisteredOffice 2021-04-01 2022-03-31 04770987 bus:LeadAgentIfApplicable 2021-04-01 2022-03-31 04770987 bus:Director1 2021-04-01 2022-03-31 04770987 bus:Director3 2021-04-01 2022-03-31 04770987 bus:Director4 2021-04-01 2022-03-31 04770987 bus:CompanySecretary1 2021-04-01 2022-03-31 04770987 core:WithinOneYear 2022-03-31 04770987 core:WithinOneYear 2021-03-31 04770987 core:ShareCapital 2020-04-01 2021-03-31 04770987 core:CapitalRedemptionReserve 2020-04-01 2021-03-31 04770987 core:RetainedEarningsAccumulatedLosses 2020-04-01 2021-03-31 04770987 core:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 04770987 core:AfterOneYear 2022-03-31 04770987 core:AfterOneYear 2021-03-31 04770987 core:ShareCapital 2022-03-31 04770987 core:ShareCapital 2021-03-31 04770987 core:SharePremium 2022-03-31 04770987 core:SharePremium 2021-03-31 04770987 core:CapitalRedemptionReserve 2022-03-31 04770987 core:CapitalRedemptionReserve 2021-03-31 04770987 core:RetainedEarningsAccumulatedLosses 2022-03-31 04770987 core:RetainedEarningsAccumulatedLosses 2021-03-31 04770987 core:ShareCapital 2020-03-31 04770987 core:SharePremium 2020-03-31 04770987 core:RetainedEarningsAccumulatedLosses 2020-03-31 04770987 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 04770987 core:Non-currentFinancialInstruments 2022-03-31 04770987 core:Non-currentFinancialInstruments 2021-03-31 04770987 bus:SmallEntities 2021-04-01 2022-03-31 04770987 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 04770987 bus:FullAccounts 2021-04-01 2022-03-31 04770987 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 04770987 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 04770987 core:Subsidiary1 2021-04-01 2022-03-31 04770987 core:Subsidiary1 2020-04-01 2021-03-31 04770987 core:Subsidiary2 2021-04-01 2022-03-31 04770987 core:Subsidiary1 2022-03-31 04770987 core:Subsidiary1 2021-03-31 04770987 core:Subsidiary2 2022-03-31 04770987 core:Subsidiary2 2021-03-31
Company registration number: 04770987
Rolco 188 Limited
Unaudited filleted financial statements
31 March 2022
Rolco 188 Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Rolco 188 Limited
Directors and other information
Directors Mr. D. A. Axup
Mr. T. G. Axup
Mr. W. D. Axup
Secretary Mr. D. A. Axup
Company number 04770987
Registered office Buttfield
Buttfield Road
Howden
East Yorkshire
DN14 7DY
Business address Buttfield
Buttfield Road
Howden
East Yorkshire
DN14 7DY
Accountants Sharp Addy & Train
23 Albion Street
Hull
East Yorkshire
HU1 3TG
Rolco 188 Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Rolco 188 Limited
Year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rolco 188 Limited for the year ended 31 March 2022 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Rolco 188 Limited, as a body, in accordance with the terms of our engagement letter dated 31 August 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Rolco 188 Limited and state those matters that we have agreed to state to the board of directors of Rolco 188 Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rolco 188 Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Rolco 188 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 Rolco 188 Limited. You consider that Rolco 188 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 Rolco 188 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.
Sharp Addy & Train
Chartered Certified Accountants
23 Albion Street
Hull
East Yorkshire
HU1 3TG
30 September 2022
Rolco 188 Limited
Statement of financial position
31 March 2022
2022 2021
Note £ £ £ £
Fixed assets
Investments 4 3,194,373 3,194,373
_______ _______
3,194,373 3,194,373
Creditors: amounts falling due
within one year 5 ( 6,185,600) ( 6,185,600)
_______ _______
Net current liabilities ( 6,185,600) ( 6,185,600)
_______ _______
Total assets less current liabilities ( 2,991,227) ( 2,991,227)
Creditors: amounts falling due
after more than one year 6 ( 375,000) ( 375,000)
_______ _______
Net liabilities ( 3,366,227) ( 3,366,227)
_______ _______
Capital and reserves
Called up share capital 18,526 18,526
Share premium account 2,593,000 2,593,000
Capital redemption reserve 28,474 28,474
Profit and loss account ( 6,006,227) ( 6,006,227)
_______ _______
Shareholders deficit ( 3,366,227) ( 3,366,227)
_______ _______
For the year ending 31 March 2022 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 year 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 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.
These financial statements were approved by the board of directors and authorised for issue on 30 September 2022 , and are signed on behalf of the board by:
Mr. D. A. Axup
Director
Company registration number: 04770987
Rolco 188 Limited
Statement of changes in equity
Year ended 31 March 2022
Called up share capital Share premium account Capital redemption reserve Profit and loss account Total
£ £ £ £ £
At 1 April 2020 47,000 2,593,000 - 15,627 2,655,627
Profit for the year - -
_______ _______ _______ _______ _______
Total comprehensive income for the year - - - - -
Cancellation of subscribed capital - 28,474 ( 6,021,854) ( 5,993,380)
Redemption of shares ( 28,474) - - - ( 28,474)
_______ _______ _______ _______ _______
Total investments by and distributions to owners ( 28,474) - 28,474 ( 6,021,854) ( 6,021,854)
_______ _______ _______ _______ _______
At 31 March 2021 and 1 April 2021 18,526 2,593,000 28,474 ( 6,006,227) ( 3,366,227)
Profit for the year - -
_______ _______ _______ _______ _______
Total comprehensive income for the year - - - - -
_______ _______ _______ _______ _______
At 31 March 2022 18,526 2,593,000 28,474 ( 6,006,227) ( 3,366,227)
_______ _______ _______ _______ _______
Rolco 188 Limited
Notes to the financial statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Rolco 188 Limited, Buttfield, Buttfield Road, Howden, East Yorkshire, DN14 7DY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2021 and 31 March 2022 3,194,373 3,194,373
_______ _______
Impairment
At 1 April 2021 and 31 March 2022 - -
_______ _______
Carrying amount
At 31 March 2022 3,194,373 3,194,373
_______ _______
At 31 March 2021 3,194,373 3,194,373
_______ _______
5. Creditors: amounts falling due within one year
2022 2021
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 6,185,600 6,185,600
_______ _______
6. Creditors: amounts falling due after more than one year
2022 2021
£ £
Other creditors 375,000 375,000
_______ _______
The directors loan account is interest free and repayable on demand.
7. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2022 2021 2022 2021
£ £ £ £
G. W. Axup & Co Limited - 3,700,000 ( 3,700,000) ( 3,700,000)
Europipes (UK) Limited - 2,500,000 ( 2,485,600) ( 2,485,600)
_______ _______ _______ _______
G. W. Axup & Co Limited and Europipes (Uk) Limited are subsidiaries od Rolco 188 Limited .
8. Controlling party
The company is under the control of Mr. D. A. Axup who owns all the issued ordinary voting share capital.