RO Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04320285 (England and Wales)

Audited Financial Statements for the Year Ended 31 March 2018

for

RO Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R G St J Rowlandson FCA

E T M Rowlandson

C R Bain MAPM, MBIM

SECRETARY:

Finance And Industrial Trust Limited(The)

REGISTERED OFFICE:

Graham House

7 Wyllyotts Place

Potters Bar

Hertfordshire

EN6 2JD

REGISTERED NUMBER:

04320285 (England and Wales)

AUDITORS:

Grant Thornton UK LLP

Statutory Auditor and Chartered Accountants.

101 Cambridge Science Park

Milton Road

Cambridge

CB4 0FY

FIXED ASSETS

Tangible assets

4

5,119

3,170

Investments

5

65

115

5,184

3,285

CURRENT ASSETS

Debtors

6

3,741,768

3,982,853

Cash in hand

195

76

3,741,963

3,982,929

CREDITORS

Amounts falling due within one year

7

24,480

72,261

NET CURRENT ASSETS

3,717,483

3,910,668

TOTAL ASSETS LESS CURRENT LIABILITIES

3,722,667

3,913,953

CAPITAL AND RESERVES

Called up share capital

140

140

Share premium

665

665

Retained earnings

3,721,862

3,913,148

SHAREHOLDERS' FUNDS

3,722,667

3,913,953

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 18 October 2018 and were signed on its behalf by:

E T M Rowlandson - Director

1.	STATUTORY INFORMATION

RO Developments 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.

Preparation of consolidated financial statements

The financial statements contain information about RO Developments 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.

Turnover is stated net of VAT and represents amounts receivable from third parties in respect of property sales and

rent receivable from development sites. All turnover arises in the UK.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less

estimated residual value, of each asset, on a straight line basis over its expected useful life. Residual value is

calculated on prices prevailing at the date of acquisition.

Pension costs

The company operates a defined contribution group personal pension scheme. The amount charged to the profit and

loss account represents contributions payable by the company to the individual policies effected by the employees

with an independent Insurance Company in funds separate from the company's finances. Differences between

contributions payable and contributions paid are shown as Other Creditors at the year end.

Taxation

Corporation tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted by the

balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a

right to pay less or to receive more tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that

there will be suitable taxable profits from which the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which

timing differences reverse, based on tax rates and laws enacted or substantively enacted 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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2017

34,446

Additions

5,496

Disposals

(2,583

)

At 31 March 2018

37,359

DEPRECIATION

At 1 April 2017

31,276

Charge for year

1,610

Eliminated on disposal

(646

)

At 31 March 2018

32,240

NET BOOK VALUE

At 31 March 2018

5,119

At 31 March 2017

3,170

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 April 2017

52

63

115

Impairments

(50

)

-

(50

)

At 31 March 2018

2

63

65

NET BOOK VALUE

At 31 March 2018

2

63

65

At 31 March 2017

52

63

115

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

Subsidiaries

RO St Bernards Limited

Registered office: Graham House, 7 Wyllyotts Place, Potters Bar, Hertfordshire, EN6 2JD

Nature of business: Property development

%

Class of shares:

holding

Ordinary £1

100.00

RO24 Stonebridge Management Company Limited

Registered office: Graham House, 7 Wyllyotts Place, Potters Bar, Hertfordshire, EN6 2JD

Nature of business: Property Management

%

Class of shares:

holding

Ordinary £1

100.00

Associated companies

EPMK Management Limited

Registered office: C/O Bidwells, Trumpington Road, Cambridge, CB2 2LD

Nature of business: Property management

%

Class of shares:

holding

Ordinary shares

10.70

Harlow Business Park Management Limited

Registered office: 25-28 Old Burlington Street, London, W1S 3AN

Nature of business: Property management

%

Class of shares:

holding

Ordinary

5.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Amounts owed by group undertakings

3,266,591

3,806,673

Other debtors

-

17,602

Tax

46,208

123,334

VAT

3,969

14,813

Prepayments

425,000

20,431

3,741,768

3,982,853

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

1,231

1,229

Amounts owed to group undertakings

1

51

Amounts owed to associates

63

63

Social security and other taxes

18,039

9,110

Other creditors

4,146

50,803

Accrued expenses

1,000

11,005

24,480

72,261

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

The Report of the Auditors was unqualified.

David Newstead (Senior Statutory Auditor)

for and on behalf of Grant Thornton UK LLP

9.	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.

10.	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 2018 or that requires disclosure.

11.	ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY