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Financial Statements for the Year Ended 31 March 2020 |
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RO Developments Limited |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 March 2020 |
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for |
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RO Developments Limited |
RO Developments Limited (Registered number: 04320285) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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RO Developments Limited |
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Company Information |
for the Year Ended 31 March 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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RO Developments Limited (Registered number: 04320285) |
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Balance Sheet |
31 March 2020 |
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31.3.20 | 31.3.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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RO Developments Limited (Registered number: 04320285) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2020 |
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1. | STATUTORY INFORMATION |
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RO Developments Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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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. |
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Tangible fixed assets |
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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. |
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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. |
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Debtors |
Short term debtors are measured at the transaction price , less any impairment. |
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Creditors |
Short term creditors are measured at the transaction price. |
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Dividends |
Equity dividends are recognised when they become legally payable. interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. |
RO Developments Limited (Registered number: 04320285) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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. |
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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. |
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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. |
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Investments |
Fixed asset investments in shares in group undertakings and in unlisted investments are shown at cost less provision for impairment. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1 April 2019 |
and 31 March 2020 |
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65 |
NET BOOK VALUE |
At 31 March 2020 |
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65 |
At 31 March 2019 |
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65 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Subsidiaries |
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Registered office: Graham House, 7 Wyllyotts Place, Potters Bar, Hertfordshire, EN6 2JD |
Nature of business:
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Class of shares: | holding |
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RO Developments Limited (Registered number: 04320285) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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4. | FIXED ASSET INVESTMENTS - continued |
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Registered office: Graham House, 7 Wyllyotts Place, Potters Bar, Hertfordshire, EN6 2JD |
Nature of business:
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Class of shares: | holding |
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Associated companies |
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Registered office: C/O Bidwells, Trumpington Road, Cambridge, CB2 2LD |
Nature of business:
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Class of shares: | holding |
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Registered office: 25-28 Old Burlington Street, London, W1S 3AN |
Nature of business:
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Class of shares: | holding |
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5. | STOCKS |
31.3.20 | 31.3.19 |
£ | £ |
Stocks |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Trade debtors |
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Other debtors |
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Tax |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Amounts owed to associates | 64 | 63 |
Tax |
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VAT | 5,993 | 378 |
Other creditors |
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Accruals and deferred income |
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RO Developments Limited (Registered number: 04320285) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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8. | RELATED PARTY DISCLOSURES |
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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. |
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9. | POST BALANCE SHEET EVENTS |
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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 2020 or that requires disclosure. |
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10. | ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY |
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The company's immediate and ultimate parent is RO Trading Limited, a company incorporated in England and Wales. |
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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. |
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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. |