Rollers (UK) Limited - Accounts to registrar (filleted) - small 18.1

ROLLERS (UK) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JULY 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P R Sharp

J Dickson

S C Lousada

SECRETARY:

P R Sharp

REGISTERED OFFICE:

11 Roebuck Way

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8HL

REGISTERED NUMBER:

02591137 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr Alberto Di Lorenzo ACA

AUDITORS:

HW East Midlands Audit LLP

Statutory Auditors

Woburn Court, 2 Railton Rd

Woburn Road Ind Est

Kempston

Bedfordshire

MK42 7PN

FIXED ASSETS

Tangible assets

4

21,000

24,000

Investments

5

2

502

Investment property

6

5,405,204

3,350,000

5,426,206

3,374,502

CURRENT ASSETS

Debtors

7

296,850

152,753

Cash at bank

2,795

9,121

299,645

161,874

CREDITORS

Amounts falling due within one year

8

2,445,846

157,724

NET CURRENT (LIABILITIES)/ASSETS

(2,146,201

)

4,150

TOTAL ASSETS LESS CURRENT LIABILITIES

3,280,005

3,378,652

CREDITORS

Amounts falling due after more than one year

9

(619,250

)

(1,150,253

)

PROVISIONS FOR LIABILITIES

(55,742

)

(11,386

)

NET ASSETS

2,605,013

2,217,013

CAPITAL AND RESERVES

Called up share capital

197,500

197,500

Share premium

770,679

770,679

Non-distributable retained

earnings

265,241

40,946

Retained earnings

1,371,593

1,207,888

SHAREHOLDERS' FUNDS

2,605,013

2,217,013

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20th March 2018 and were signed on its behalf by:

P R Sharp - Director

S C Lousada - 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 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 as modified by the revaluation of certain assets.

The company is supported by associated undertakings and the company's bank. The directors, having assessed

the responses of the directors of the company's associated undertakings and the company's bankers to their

enquiries have no reason to believe that a material uncertainty exists that may cast significant doubt about the

ability of the associated undertakings or the company's bank to continue with the current level of support.

On the basis of their assessment of the company's financial position and of the enquiries made of the directors of

the associated undertakings and the company's bank, the company's directors have a reasonable expectation that

the company will be able to continue in operational existence for the foreseeable future. Thus they continue to

adopt the going concern basis of accounting in preparing the annual financial statements.

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

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st August 2016

and 31st July 2017

30,000

DEPRECIATION

At 1st August 2016

6,000

Charge for year

3,000

At 31st July 2017

9,000

NET BOOK VALUE

At 31st July 2017

21,000

At 31st July 2016

24,000

5.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST

At 1st August 2016

2

500

502

Disposals

-

(500

)

(500

)

At 31st July 2017

2

-

2

NET BOOK VALUE

At 31st July 2017

2

-

2

At 31st July 2016

2

500

502

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st August 2016

3,350,000

Additions

1,786,553

Revaluations

268,651

At 31st July 2017

5,405,204

NET BOOK VALUE

At 31st July 2017

5,405,204

At 31st July 2016

3,350,000

Fair value at 31st July 2017 is represented by:

£

Valuation in 2010

115,260

Valuation in 2012

111,391

Valuation in 2013

(78,461

)

Valuation in 2014

(95,857

)

Valuation in 2017

268,651

Cost

5,084,220

5,405,204

If investment properties had not been revalued they would have been included at the following historical cost:

2017

2016

£

£

Cost

5,084,220

3,357,987

No formal independent valuation was carried out in the year to 31st July 2017. The investment property is stated

at fair value based on a suitable valuation model.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

107,319

86,195

Amounts owed by group undertakings

50,073

-

Other debtors

-

33,959

VAT

139,458

-

Prepayments and accrued income

-

32,599

296,850

152,753

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

212,000

55,000

Trade creditors

75,256

-

Amounts owed to group undertakings

-

5,024

Corporation tax

38,384

24,429

VAT

-

34,914

Amounts due to related party

2,116,706

-

Accruals and deferred income

3,500

38,357

2,445,846

157,724

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans 1 -2 years

55,000

55,000

Bank loans 2 - 5 years

165,000

165,000

Bank loans more than 5 years

399,250

656,250

Other loan - Lousada plc

-

274,003

619,250

1,150,253

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

399,250

656,250

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

831,250

931,250

Bank borrowings are secured by a corporate cross guarantee between Rollers (UK) Limited and its subsidiary,

Kids Play Limited

Further security exists by a first legal charge over the company's investment properties at Unit 1 and Unit 13

Roebuck Way, Knowlhill, Milton Keynes.

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

The Report of the Auditors was unqualified.

Mr Alberto Di Lorenzo ACA (Senior Statutory Auditor)

for and on behalf of HW East Midlands Audit LLP

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party of the company.