RO Group Property Ventures Limited - Limited company accounts 16.1
RO Group Property Ventures Limited - Limited company accounts 16.1
REGISTERED NUMBER: |
Report of the Directors and |
Financial Statements for the Year Ended 31 March 2017 |
for |
RO Group Property Ventures Limited |
RO Group Property Ventures Limited (Registered number: 06044440) |
Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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 |
RO Group Property Ventures Limited |
Company Information |
for the Year Ended 31 March 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditors |
Victoria House |
199 Avebury Boulevard |
Milton Keynes |
MK9 1AU |
RO Group Property Ventures Limited (Registered number: 06044440) |
Report of the Directors |
for the Year Ended 31 March 2017 |
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 intermediate holding company. |
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. |
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: |
Report of the Independent Auditors to the Members of |
RO Group Property Ventures Limited |
We have audited the financial statements of RO Group Property Ventures Limited for the year ended 31 March 2017 on |
pages five to nine. 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 |
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 results for the year then |
ended; |
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; |
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'. |
Report of the Independent Auditors to the Members of |
RO Group Property Ventures Limited |
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. |
for and on behalf of |
Chartered Accountants and Statutory Auditors |
Victoria House |
199 Avebury Boulevard |
Milton Keynes |
MK9 1AU |
RO Group Property Ventures Limited (Registered number: 06044440) |
Statement of Comprehensive Income |
for the Year Ended 31 March 2017 |
31.3.17 | 31.3.16 |
Notes | £ | £ |
TURNOVER |
OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
RO Group Property Ventures Limited (Registered number: 06044440) |
Balance Sheet |
31 March 2017 |
31.3.17 | 31.3.16 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 3 |
CREDITORS |
Amounts falling due within one year | 4 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors on |
RO Group Property Ventures Limited (Registered number: 06044440) |
Statement of Changes in Equity |
for the Year Ended 31 March 2017 |
Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 April 2015 |
Changes in equity |
Balance at 31 March 2016 |
Changes in equity |
Balance at 31 March 2017 |
RO Group Property Ventures Limited (Registered number: 06044440) |
Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
1. | STATUTORY INFORMATION |
RO Group Property Ventures Limited is a |
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 are the company's first in accordance with FRS102. |
Preparation of consolidated financial statements |
The financial statements contain information about RO Group Property Ventures 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. |
Deferred tax |
Deferred tax is recognised 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. |
Investments |
Fixed asset investments are shown at cost less provision for impairment. |
3. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
At 31 March 2016 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
Held by Rowlandson Investments Limited (62%) and Rowlandson Properties Limited (37%). |
RO Group Property Ventures Limited (Registered number: 06044440) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
3. | FIXED ASSET INVESTMENTS - continued |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
Held by Rowlandson Investments Limited |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Amounts owed to group undertakings |
5. | 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. |
6. | 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. |
7. | 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. |
8. | 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. |