Company Registration No. 3508300 (England and Wales)
ROSECUP INVESTMENTS LIMITED
FORMERLY EBURY INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2020
PAGES FOR FILING WITH REGISTRAR
ROSECUP INVESTMENTS LIMITED
FORMERLY EBURY INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ROSECUP INVESTMENTS LIMITED
FORMERLY EBURY INVESTMENTS LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2020
28 February 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Investments
4
118,644
73,625
Current assets
Debtors
5
1,204,716
1,618,514
Cash at bank and in hand
84,196
158,919
1,288,912
1,777,433
Creditors: amounts falling due within one year
6
(31,323)
(45,798)
Net current assets
1,257,589
1,731,635
Total assets less current liabilities
1,376,233
1,805,260
Capital and reserves
Called up share capital
6,150,000
6,150,000
Profit and loss reserves
(4,773,767)
(4,344,740)
Total equity
1,376,233
1,805,260
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 28 February 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.
ROSECUP INVESTMENTS LIMITED
FORMERLY EBURY INVESTMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2020
28 February 2020
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 February 2021 and are signed on its behalf by:
B S Townsley
Director
Company Registration No. 3508300
ROSECUP INVESTMENTS LIMITED
FORMERLY EBURY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2020
- 3 -
1
Accounting policies
Company information
Rosecup Investments Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Trowers & Hamlins, 3 Bunhill Row, London, EC1Y 8YZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date
where
it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the
fair
value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Film Rights
20% straight line
ROSECUP INVESTMENTS LIMITED
FORMERLY EBURY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2020
1
Accounting policies
(Continued)
- 4 -
1.4
Cash and cash equivalents
Cash and cash equivalents
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.
1.5
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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
ROSECUP INVESTMENTS LIMITED
FORMERLY EBURY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2020
1
Accounting policies
(Continued)
- 5 -
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
3
3
3
Intangible fixed assets
Other
£
Cost
At 1 March 2019 and 28 February 2020
6,536,475
Amortisation and impairment
At 1 March 2019 and 28 February 2020
6,536,475
Carrying amount
At 28 February 2020
-
At 28 February 2019
-
ROSECUP INVESTMENTS LIMITED
FORMERLY EBURY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2020
- 6 -
4
Fixed asset investments
2020
2019
£
£
Other investments other than loans
118,644
73,625
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 March 2019
73,625
Additions
45,019
At 28 February 2020
118,644
Carrying amount
At 28 February 2020
118,644
At 28 February 2019
73,625
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Corporation tax recoverable
55,712
55,712
Other debtors
1,149,004
1,562,802
1,204,716
1,618,514
6
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
2,418
2,415
Corporation tax
-
2,612
Other taxation and social security
13,928
13,967
Other creditors
14,977
26,804
31,323
45,798
ROSECUP INVESTMENTS LIMITED
FORMERLY EBURY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2020
- 7 -
7
Directors' transactions
L
oans have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Interest charged
Closing balance
£
£
£
Loan
2.50
209,003
5,225
214,228
209,003
5,225
214,228