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

ROLLERS (UK) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JULY 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

8

DIRECTORS:

P R Sharp

J Dickson

S C Lousada

SECRETARY:

P R Sharp

REGISTERED OFFICE:

1A 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

4

9,000

12,000

Investments

5

50

50

Investment property

6

4,312,720

4,318,875

4,321,770

4,330,925

CURRENT ASSETS

Debtors

7

1,005,950

1,002,372

Cash at bank

105,580

40,332

1,111,530

1,042,704

CREDITORS

Amounts falling due within one year

8

406,094

391,710

NET CURRENT ASSETS

705,436

650,994

TOTAL ASSETS LESS CURRENT LIABILITIES

5,027,206

4,981,919

CREDITORS

Amounts falling due after more than one year

9

1,618,450

1,677,150

NET ASSETS

3,408,756

3,304,769

CAPITAL AND RESERVES

Called up share capital

197,500

197,500

Share premium

770,679

770,679

Non-distributable retained

earnings

-

6,155

Retained earnings

2,440,577

2,330,435

SHAREHOLDERS' FUNDS

3,408,756

3,304,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2021 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 and authorised for issue on 26th November 2021 and were signed on its behalf by:

P R Sharp - 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.

Investments in joint ventures

Investments in joint venture entities are recorded at historic cost less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st August 2020

and 31st July 2021

30,000

DEPRECIATION

At 1st August 2020

18,000

Charge for year

3,000

At 31st July 2021

21,000

NET BOOK VALUE

At 31st July 2021

9,000

At 31st July 2020

12,000

5.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1st August 2020

and 31st July 2021

50

NET BOOK VALUE

At 31st July 2021

50

At 31st July 2020

50

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st August 2020

4,318,875

Revaluations

(6,155

)

At 31st July 2021

4,312,720

NET BOOK VALUE

At 31st July 2021

4,312,720

At 31st July 2020

4,318,875

Fair value at 31st July 2021 is represented by:

£

Cost

4,312,720

The directors are of the opinion that the fair value of the investments properties held is not materially different from their historic cost.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/21

31/7/20

£

£

Trade debtors

217,275

253,148

Amounts owed by joint ventures

34,950

34,950

Amounts owed by related companies

162,197

162,197

Other debtors

550,000

552,077

Prepayments and accrued income

41,528

-

1,005,950

1,002,372

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/21

31/7/20

£

£

Bank loans and overdrafts

117,400

117,400

Trade creditors

35

-

Corporation tax

37,343

79,320

VAT

86,996

82,696

Amounts due to related party

96,067

68,294

Directors' current accounts

25,000

-

Accruals and deferred income

43,253

44,000

406,094

391,710

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/7/21

31/7/20

£

£

Bank loans

1,618,450

1,677,150

10.	SECURED DEBTS

The following secured debts are included within creditors:

31/7/21

31/7/20

£

£

Bank loans

1,735,850

1,794,550

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

11.	RELATED PARTY DISCLOSURES

Included within other debtors is a loan of £550,000 due from Kids Play Childcare Limited, a company with common directors (2020 £550,000).

This loan is currently interest free and is repayable on demand.

12.	ULTIMATE CONTROLLING PARTY

There is no sole 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 2021 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

26th November 2021