Law 2457 Limited - Limited company accounts 16.1

REGISTERED NUMBER: 04747563 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 31 March 2016

for

Law 2457 Limited

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Profit and Loss Account

5

Balance Sheet

6

Notes to the Financial Statements

7

DIRECTORS:

R G St J Rowlandson FCA

E T M Rowlandson

SECRETARY:

The Finance & Industrial Trust Limited

REGISTERED OFFICE:

Graham House

7 Wyllyotts Place

Potters Bar

Hertfordshire

EN6 2JD

REGISTERED NUMBER:

04747563 (England and Wales)

AUDITORS:

MHA MacIntyre Hudson

Statutory Auditors

Euro House

1394 High Road

London

N20 9YZ

The directors present their report with the financial statements of the company for the year ended 31 March 2016.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of an intermediate holding company. The

company has not traded in the current or previous year.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2015 to the date of this report.

R G St J Rowlandson FCA

E T M Rowlandson

Other changes in directors holding office are as follows:

Mrs S M Younghusband FCA - resigned 23 December 2015

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors

have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not

approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the

company and of the profit or loss of the company for that period. In preparing these financial statements, the directors

are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act

2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken

as a director in order to make himself aware of any relevant audit information and to establish that the company's

auditors are aware of that information.

AUDITORS

The auditors, MHA MacIntyre Hudson, will be proposed for re-appointment at the forthcoming Annual General

Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

The Finance & Industrial Trust Limited - Secretary

7 October 2016

We have audited the financial statements of Law 2457 Limited for the year ended 31 March 2016 on pages five to nine.

The financial reporting framework that has been applied in their preparation is applicable law and the Financial

Reporting Standard for Smaller Entities (effective January 2015) (United Kingdom Generally Accepted Accounting

Practice applicable to Smaller Entities).

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the

Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those

matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's

members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of directors and auditors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give

reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error.

This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and

have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by

the directors; and the overall presentation of the financial statements. In addition, we read all the financial and

non-financial information in the Report of the Directors to identify material inconsistencies with the audited financial

statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent

with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material

misstatements or inconsistencies we consider the implications for our report.

Opinion on financial statements

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2016 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion the information given in the Report of the Directors for the financial year for which the financial

statements are prepared is consistent with the financial statements.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you

if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Brendan Sharkey FCA (Senior Statutory Auditor)

for and on behalf of MHA MacIntyre Hudson

Statutory Auditors

Euro House

1394 High Road

London

N20 9YZ

7 October 2016

TURNOVER

-

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

2

-

Tax on profit on ordinary activities

3

-

PROFIT FOR THE FINANCIAL YEAR

-

FIXED ASSETS

Investments

4

431,902

CURRENT ASSETS

Debtors

5

7,146,664

CREDITORS

Amounts falling due within one year

6

(220

)

(220

)

NET CURRENT ASSETS

7,146,444

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,578,346

CAPITAL AND RESERVES

Called up share capital

7

264,033

Capital redemption reserve

8

12,518

Profit and loss account

8

7,301,795

SHAREHOLDERS' FUNDS

7,578,346

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Directors on 7 October 2016 and were signed on its behalf by:

E T M Rowlandson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

The company did not trade throughout the current year and previous year.

Preparation of consolidated financial statements

The financial statements contain information about Law 2457 Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company is exempt under Section 400

of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its

subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent,

RO Trading Limited, a company registered in England and Wales.

Deferred tax

Deferred tax is recognised on an undiscounted basis in respect of all timing differences that have originated but

not reversed at the balance sheet date.

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.

2.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.16

31.3.15

£

Directors' remuneration and other benefits etc

-

The audit fee is borne by the ultimate parent company, RO Trading Limited.

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 31 March 2016 nor for the year

ended 31 March 2015.

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2015

and 31 March 2016

431,902

NET BOOK VALUE

At 31 March 2016

431,902

At 31 March 2015

431,902

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Chegmac Property Company Limited

Nature of business: Investment company

%

Class of shares:

holding

Ordinary

100.00

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.16

31.3.15

£

Amounts owed by group undertakings

7,146,664

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.16

31.3.15

£

Other creditors

220

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

876,017

A Ordinary Shares

25p

219,004

180,116

B Ordinary Shares

25p

45,029

264,033

8.

RESERVES

Profit

Capital

and loss

redemption

account

reserve

Totals

£

At 1 April 2015

7,301,795

12,518

7,314,313

Profit for the year

-

At 31 March 2016

7,301,795

12,518

7,314,313

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard for Smaller

Entities (effective January 2015), not to disclose related party transactions with wholly owned subsidiaries within

the group.

10.	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.

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.