REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements for the Year Ended 31 March 2022 |
|
for |
|
RO Chichester Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements for the Year Ended 31 March 2022 |
|
for |
|
RO Chichester Limited |
RO Chichester Limited (Registered number: 11078108) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 3 |
|
RO Chichester Limited |
|
Company Information |
for the Year Ended 31 March 2022 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
RO Chichester Limited (Registered number: 11078108) |
|
Statement of Financial Position |
31 March 2022 |
|
31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
) |
( |
) |
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
|
|
|
|
|
The director acknowledges his 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. |
|
|
|
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 director and authorised for issue on
|
|
|
|
|
|
|
|
RO Chichester Limited (Registered number: 11078108) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
|
1. | STATUTORY INFORMATION |
|
RO Chichester Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Going concern |
The company has net current liabilities of £4,337,601 (2021 : £4,231,005) and total liabilities of £4,376,933 (2021 : £4,269,197) at the balance sheet date. The accounts have been prepared under the going concern concept because the ultimate parent undertaking, RO Properties Limited, has confirmed its willingness and ability to provide adequate funds for the company to meet its liabilities for at least one year from the date of the approval of the financial statements. |
|
RO Trading Limited, has confirmed its willingness and ability to provide adequate funds for RO Properties Limited to meet its liabilities for at least one year from the date of the approval of the financial statements. |
|
Turnover |
Turnover, stated net of VAT and trade discounts, represents rent receivable in the UK in respect of the company's investment properties. |
|
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 right to pay less or to receive more tax, with the following exceptions: |
|
Provision is made for tax on gains arising on the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposals of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold. |
|
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. |
|
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
|
Creditors |
Short term creditors are measured at the transaction price. |
RO Chichester Limited (Registered number: 11078108) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
|
2. | ACCOUNTING POLICIES - continued |
|
Investment properties |
Investment properties are revalued annually. Surplus or deficits on individual properties are transferred to the profit and loss account. Depreciation is not provided in respect of freehold investment properties or of leasehold investment properties where the unexpired term of the lease is more than 20 years. |
|
The surplus or deficit over the carrying value of an investment property realiised on disposal is dealt with through the profit and loss account. Any previous revaluation surplus is transferred from the revaluation reserve to the profit and loss reserve. |
|
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial asset, 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 NIL (2021 - NIL). |
|
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2021 |
|
Additions |
|
Revaluations |
|
At 31 March 2022 |
|
NET BOOK VALUE |
At 31 March 2022 |
|
At 31 March 2021 |
|
|
Land and buildings have been valued by a director on an open market basis at 31 March 2022 and the movement on revaluation represents the net movement for the year. The cost of the properties was £4,231,715 |
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade debtors |
|
|
Tax |
|
|
VAT |
|
|
Prepayments |
|
|
|
|
RO Chichester Limited (Registered number: 11078108) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Social security and other taxes |
|
|
VAT |
|
|
Other creditors |
|
|
Accruals and deferred income |
|
|
|
|
|
7. | 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. |
|
8. | 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 2022 or that requires disclosure. |
|
9. | ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY |
|
The company's immediate and ultimate parent company is RO Properties Limited, a company incorporated in England and Wales. |
|
Mr R G StJ Rowlandson, a director of RO Properties Limited and members of his close family, control the company as a result of their trusteeship of various family trusts. |
|
RO Properties 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. |