Rose of Sham Ltd
Unaudited Financial Statements
For Filing with Registrar
For the year ended 31 March 2020
Company Registration No. 08519576 (England and Wales)
Rose Of Sham Ltd
Rose of Sham Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Rose of Sham Ltd
Balance Sheet
As at 31 March 2020
Page 1
2020
2019
Notes
£
£
£
£
Fixed assets
Investments
2
1,560,228
1,560,228
Current assets
Debtors
3
-
69,000
Cash at bank and in hand
96
513
96
69,513
Creditors: amounts falling due within one year
4
(1,754,985)
(1,897,035)
Net current liabilities
(1,754,889)
(1,827,522)
Total assets less current liabilities
(194,661)
(267,294)
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(194,761)
(267,394)
Total equity
(194,661)
(267,294)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 31 March 2021 and are signed on its behalf by:
M Aladas
Director
Company Registration No. 08519576
Rose of Sham Ltd
Notes to the Financial Statements
For the year ended 31 March 2020
Page 2
1
Accounting policies
Company information
Rose of Sham Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
31-33 Shepherd Market, Mayfair, London, W1J 7PT.
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company's directors have confirmed that they will provide the company with any financial support that becomes necessary, so as to enable the company to meet any and all of its liabilities as they fall due.
true
In view of the above confirmation the directors are satisfied that the company will have sufficient resources to enable it to continue in existence for the foreseeable future, being a period of at least twelve months from the date of approval of the financial statements, and that it is therefore appropriate to prepare the financial statements on the going concern basis.
1.3
Turnover
Turnover represents
revenue recognised by the company in respect of management fees charged during the year, exclusive of VAT.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
Rose of Sham Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 March 2020
1
Accounting policies
(Continued)
Page 3
1.5
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Fixed asset investments
2020
2019
£
£
Investments
1,560,228
1,560,228
Investments are measured at cost less impairment. The investments are assessed for impairment annually at the reporting date by the directors of the company.
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2019 & 31 March 2020
1,560,228
Carrying amount
At 31 March 2020
1,560,228
At 31 March 2019
1,560,228
Rose of Sham Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 March 2020
Page 4
3
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
-
69,000
4
Creditors: amounts falling due within one year
2020
2019
£
£
Amounts due to group undertakings
1,752,185
1,894,235
Other creditors
2,800
2,800
1,754,985
1,897,035
5
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary class A shares of £1 each
100
100
100
100
6
Control
The controlling party is considered to be M Aladas by virtue of their shareholding.