S. Graham Rowlandson & Co. Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00878625 (England and Wales)

Audited Financial Statements for the Year Ended 31 March 2021

for

S. Graham Rowlandson & Co. Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R G St J Rowlandson FCA

E T M Rowlandson

A J Teoh FCCA

SECRETARY:

Finance And Industrial Trust Limited(The)

REGISTERED OFFICE:

Graham House

7 Wyllyotts Place

Potters Bar

Hertfordshire

EN6 2JD

REGISTERED NUMBER:

00878625 (England and Wales)

AUDITORS:

KPMG LLP

Statutory Auditor and Chartered Accountants.

58 Clarendon Road

Watford

WD17 1DE

BANKERS:

HSBC Bank Plc

The Royal Bank of Scotland

CURRENT ASSETS

Debtors

4

1,699,955

1,738,399

Cash at bank and in hand

4,466

2,649

1,704,421

1,741,048

CREDITORS

Amounts falling due within one year

5

227,812

344,515

NET CURRENT ASSETS

1,476,609

1,396,533

TOTAL ASSETS LESS CURRENT LIABILITIES

1,476,609

1,396,533

CAPITAL AND RESERVES

Called up share capital

70,000

70,000

Retained earnings

1,406,609

1,326,533

SHAREHOLDERS' FUNDS

1,476,609

1,396,533

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 and authorised for issue on 30 July 2021 and were signed on its behalf by:

E T M Rowlandson - Director

1.	STATUTORY INFORMATION

S. Graham Rowlandson & Co. 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

The Company had net current assets of £1.5 million (2020: £1.4 million) and net asset of £1.5 million (2020: £1.4 million) at 31 March 2021 and recorded a profit for the year then ended of £0.08 million (2020: £2.1 million). The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.

The Directors monitor the liquidity of the Company and other subsidiaries within RO Trading Limited Group. The directors of the Group have prepared cash flow forecasts incorporating impacts of COVID-19 for a period of 14 months from the date of approval of these financial statements which indicate that, taking account of severe but plausible downsides incorporating no growth projections, the Group is able to cover its operating costs and service its outstanding debt obligations inline with the agreed repayment dates with no resulting cash-shortfall. Those forecasts are dependent on a related undertaking, RO Trading Limited, which has confirmed its willingness and ability to provide adequate financial support to the Company. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.

Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

Turnover

Turnover represents the value of services sold and fees receivable net of VAT in respect of the provision of accounting, taxation and management services. The whole of the turnover is derived from the UK market.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation

Corporation tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or right to pay less or to receive more tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates enacted or substantively enacted at the balance sheet date.

Pension costs

The company operates a defined contribution group personal pension scheme. The amount charged to the profit and loss account represents contributions payable by the company to the individual policies effected by the employees with an independent Insurance Company in funds separate from the company's finances.

Debtors

Short term debtors are measured at the transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on demand.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate.

The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Interest receivable and interest payable

Interest payable and similar expenses include interest payable. Other interest receivable and similar income include interest receivable on funds invested, loans granted and net foreign exchange gains.

Interest income and interest payable are recognised in profit or loss as they accrue, using the effective interest method.

Interest-bearing borrowings classified as basic financial instruments

Interest-bearing borrowings are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost using the effective interest method, less any impairment losses.

Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits are recognised as an expense in the period in which the service is received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2020 - 33 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

25

6,434

Amounts owed by group undertakings

1,623,510

1,695,450

Amounts owed by participating interests

30,000

-

Other debtors

5,380

6,645

Prepayments

41,040

29,870

1,699,955

1,738,399

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

13,435

80,402

Tax

15,469

105,904

Social security and other taxes

73,290

71,686

VAT

79,831

50,307

Other creditors

24,303

20,506

Accruals and deferred income

21,484

15,710

227,812

344,515

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

The Auditors' Report was unqualified.

Mark Smith (Senior Statutory Auditor)

for and on behalf of KPMG LLP

7.	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.

8.	POST BALANCE SHEET EVENTS

There has been no event since the balance sheet date that could materially affect the state of affairs of the company as at 31 March 2021 or that requires disclosure.

9.	ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate parent company is RO Trading Limited a company incorporated in England and Wales.

Mr R G St J Rowlandson, a director of RO Trading Limited and members of his close family, control the company as a result of them owning and controlling the issued share capital of RO Trading Limited.

The RO Trading Limited is the parent company of the largest and smallest group of which the company is a member for which consolidated accounts are prepared. Copies of its group accounts can be obtained from Graham House, 7 Wyllyotts Place, Potters Bar, Hertfordshire, EN6 2JD.