Rodl & Partner Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06403025 (England and Wales)

RODL & PARTNER LIMITED

Audited Financial Statements for the Year Ended 31 December 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

I Farooq

Dr C Rodl

H Raible

REGISTERED OFFICE:

170 Edmund Street

Birmingham

B3 2HB

REGISTERED NUMBER:

06403025 (England and Wales)

AUDITORS:

Lancaster Haskins Limited Statutory Auditor

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

FIXED ASSETS

Tangible assets

4

69,317

89,287

CURRENT ASSETS

Debtors

5

1,291,903

1,311,747

Cash at bank and in hand

466,529

58,646

1,758,432

1,370,393

CREDITORS

Amounts falling due within one year

6

2,015,140

1,722,039

NET CURRENT LIABILITIES

(256,708

)

(351,646

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(187,391

)

(262,359

)

CAPITAL AND RESERVES

Called up share capital

903

903

Retained earnings

(188,294

)

(263,262

)

SHAREHOLDERS' FUNDS

(187,391

)

(262,359

)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2021 and were signed on its behalf by:

I Farooq - Director

1.	STATUTORY INFORMATION

Rodl & Partner 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.

The financial statements are presented in Sterling (£).

Turnover

Turnover represents net value of services provided excluding value added tax.

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

Tangible fixed assets

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

Short leasehold

-

Over the term of the lease

Computer equipment

-

25% on cost

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern

The financial statements have been prepared on a going concern basis. This is based on the understanding that the company has the continued support of the parent company.

Changes in accounting policies

In the absence of formal agreements, amounts owing to group companies are included in current liabilities. Although this accords with FRS 102 Section 1A, the directors consider it unlikely that such liabilities will be discharged within 12 months of the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2019 - 40 ) .

4.	TANGIBLE FIXED ASSETS

Short

Computer

leasehold

equipment

Totals

£

£

£

COST

At 1 January 2020

22,490

256,289

278,779

Additions

-

16,046

16,046

At 31 December 2020

22,490

272,335

294,825

DEPRECIATION

At 1 January 2020

10,525

178,967

189,492

Charge for year

2,249

33,767

36,016

At 31 December 2020

12,774

212,734

225,508

NET BOOK VALUE

At 31 December 2020

9,716

59,601

69,317

At 31 December 2019

11,965

77,322

89,287

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

950,163

803,501

Amounts owed by group undertakings

251,668

418,738

Other debtors

90,072

89,508

1,291,903

1,311,747

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

160,876

226,593

Amounts owed to group undertakings

1,217,517

1,318,395

Social security and other taxes

182,911

110,346

Other creditors

453,836

66,705

2,015,140

1,722,039

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.20

31.12.19

£

£

Within one year

141,034

141,034

Between one and five years

456,027

535,672

In more than five years

-

48,479

597,061

725,185

8.	FINANCIAL INSTRUMENTS

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changed recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Laura Bradshaw ACA FCCA (Senior Statutory Auditor)

for and on behalf of Lancaster Haskins Limited Statutory Auditor

10.	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.

11.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12.	POST BALANCE SHEET EVENTS

Since the year end, the COVID-19 pandemic continues to impact life in the UK. However, the company has been able to continue to operate and is suitably funded to see out the current difficulties. The continuance of the COVID-19 pandemic has therefore been treated as a non-adjusting event after the reporting period and as such there is no requirement to adjust the 31 December 2020 accounts for any impact from the pandemic.

13.	ULTIMATE CONTROLLING PARTY

The highest controlling party of the group is Rodl & Partner Beteiligungsgesellschaft dbR, a partnership established in Germany. This undertaking is controlled by Dr. Bernd Rodl and Dr. Christian Rodl due to their controlling interest in that undertaking. No consolidated accounts are publicly available in respect of this undertaking.