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 2017

for

Law 2457 Limited

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Financial Statements

8

DIRECTORS:

R G St J Rowlandson FCA

E T M Rowlandson

SECRETARY:

Finance And Industrial Trust Limited(The)

REGISTERED OFFICE:

Graham House

7 Wyllyotts Place

Potters Bar

Hertfordshire

EN6 2JD

REGISTERED NUMBER:

04747563 (England and Wales)

AUDITORS:

Grant Thornton UK LLP

Chartered Accountants and Statutory Auditors

Victoria House

199 Avebury Boulevard

Milton Keynes

MK9 1AU

The directors present their report with the financial statements of the company for the year ended 31 March 2017.

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.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2016 to the date of this report.

R G St J Rowlandson FCA

E T M Rowlandson

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, Grant Thornton UK LLP, 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:

Finance And Industrial Trust Limited(The) - Secretary

4 October 2017

We have audited the financial statements of Law 2457 Limited for the year ended 31 March 2017 on pages five to ten.

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom

Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting

Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 (APB's) Ethical Standards for Auditors.

Scope of the audit of the financial statements

A description of the scope of an audit of financial statements is provided on the Financial Reporting Council's website at

www.frc.org.uk/auditscopeukprivate.

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 2017 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 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, based on the work undertaken in the course of the audit:

- the information given in the Directors' Report for the financial year for which the financial statements are prepared is

consistent with the financial statements.

- the Directors' Report has been prepared in accordance with applicable legal requirements.

Matter on which we are required to report under the Companies Act 2006

In the light of the knowledge and understanding of the company and its environment obtained in the course of the Audit,

we have not identified any material misstatements in the Report of the Directors'.

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.

David Newstead (Senior Statutory Auditor)

for and on behalf of Grant Thornton UK LLP

Chartered Accountants and Statutory Auditors

Victoria House

199 Avebury Boulevard

Milton Keynes

MK9 1AU

11 October 2017

TURNOVER

220

-

OPERATING PROFIT and

PROFIT BEFORE TAXATION

220

-

Tax on profit

3

44

-

PROFIT FOR THE FINANCIAL YEAR

176

-

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

176

-

FIXED ASSETS

Investments

4

431,902

CURRENT ASSETS

Debtors: amounts falling due within one year

5

7,146,664

CREDITORS

Amounts falling due within one year

6

(44

)

(220

)

NET CURRENT ASSETS

7,146,620

7,146,444

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,578,522

7,578,346

CAPITAL AND RESERVES

Called up share capital

264,033

Capital redemption reserve

12,518

Retained earnings

7,301,971

7,301,795

SHAREHOLDERS' FUNDS

7,578,522

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.

The financial statements were approved by the Board of Directors on 9 October 2017 and were signed on its behalf by:

E T M Rowlandson - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

Balance at 1 April 2015

264,033

7,301,795

12,518

7,578,346

Changes in equity

Balance at 31 March 2016

264,033

7,301,795

12,518

7,578,346

Changes in equity

Total comprehensive income

-

176

-

176

Balance at 31 March 2017

264,033

7,301,971

12,518

7,578,522

1.	STATUTORY INFORMATION

Law 2457 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements are the company's first in accordance with FRS102.

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, 7 Wyllyotts Place, Potters Bar, Hertfordshire, EN6 2JD.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Investments

Fixed asset investments in shares in group undertakings and in unlisted investments are shown at cost less

provision for impairment.

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.

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.3.17

31.3.16

£

Current tax:

UK corporation tax

44

-

Tax on profit

44

-

UK corporation tax has been charged at 20% .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

and 31 March 2017

431,902

NET BOOK VALUE

At 31 March 2017

431,902

At 31 March 2016

431,902

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

Chegmac Property Company Limited

Registered office:

Nature of business: Investment company

%

Class of shares:

holding

Ordinary

100.00

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Amounts owed by group undertakings

7,146,664

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Taxation and social security

44

-

Other creditors

-

220

44

220

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 2017 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.

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.

10.	FIRST YEAR ADOPTION

The Financial Reporting Standard 102 was adopted for the accounting period. There are no adjustments required

to results or balances at 31 March 2016 or 31 March 2017 as a result of the application of FRS 102.