ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

ROLLIN FAMILY INVESTMENT COMPANY LIMITED - Company Information

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Caseware UK (AP4) 2018.0.196 2018.0.196 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2019-04-01 10056996 2019-04-01 2020-03-31 10056996 2018-04-01 2019-03-31 10056996 2020-03-31 10056996 2019-03-31 10056996 c:Director1 2019-04-01 2020-03-31 10056996 c:RegisteredOffice 2019-04-01 2020-03-31 10056996 d:CurrentFinancialInstruments 2020-03-31 10056996 d:CurrentFinancialInstruments 2019-03-31 10056996 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 10056996 d:CurrentFinancialInstruments d:WithinOneYear 2019-03-31 10056996 d:ShareCapital 2020-03-31 10056996 d:ShareCapital 2019-03-31 10056996 d:RevaluationReserve 2019-04-01 2020-03-31 10056996 d:RetainedEarningsAccumulatedLosses 2020-03-31 10056996 d:RetainedEarningsAccumulatedLosses 2019-03-31 10056996 c:FRS102 2019-04-01 2020-03-31 10056996 c:AuditExempt-NoAccountantsReport 2019-04-01 2020-03-31 10056996 c:FullAccounts 2019-04-01 2020-03-31 10056996 c:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31 10056996 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2019-04-01 2020-03-31 10056996 6 2019-04-01 2020-03-31 iso4217:GBP xbrli:pure
Company registration number: 10056996







Unaudited Financial statements
For the Year Ended
31 March 2020


ROLLIN FAMILY INVESTMENT COMPANY LIMITED






































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ROLLIN FAMILY INVESTMENT COMPANY LIMITED
 


 
Company Information


Director
Dr A. M. Rollin 




Registered number
10056996



Registered office
Ashcombe House
5 The Crescent

Leatherhead

Surrey

KT22 8DY




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY




 


ROLLIN FAMILY INVESTMENT COMPANY LIMITED
 



Contents



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 4

 


ROLLIN FAMILY INVESTMENT COMPANY LIMITED
Registered number:10056996



Statement of Financial Position
As at 31 March 2020

2020
2019
Note
£
£

Fixed assets
  

Investments
 4 
597,617
687,868

  
597,617
687,868

Current assets
  

Debtors: amounts falling due within one year
  
389
550

Cash at bank and in hand
  
58,699
32,225

  
59,088
32,775

Creditors: amounts falling due within one year
 6 
(680,306)
(676,154)

Net current liabilities
  
 
 
(621,218)
 
 
(643,379)

Total assets less current liabilities
  
(23,601)
44,489

  

Net (liabilities)/assets
  
(23,601)
44,489


Capital and reserves
  

Allotted, called up and fully paid share capital
  
2
2

Profit and loss account
  
(23,603)
44,487

  
(23,601)
44,489


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

Dr A. M. Rollin
Director
Date: 5 July 2020

The notes on pages 2 to 4 form part of these financial statements.

Page 1
 


ROLLIN FAMILY INVESTMENT COMPANY LIMITED
 


 
Notes to the Financial Statements
For the Year Ended 31 March 2020

1.


General information

Rollin Family Investment Company Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Coronavirus pandemic is creating significant uncertainty globally and the company is not immune to this.
At the balance sheet date the company had net current liabilities of £23,601 (2019 - net current assets of £44,490). The company also made a net loss of £68,090 (2019 - net profit of £15,656) for the financial year to 31 March 2020 as a result of a fall in the value of the investments. 
Whilst the pandemic has had a financial impact, specifically on the value of the investments held by the
company, at this stage it is not possible to reliably forecast what the long term impact of this may be. The director is confident that they will be able to see through the current uncertainty as the company is not dependant on income being generated. The director will continue to monitor the value of investments which may have been impacted by the pandemic.
Given the uncertainties that exist, they believe these actions should enable the company to continue in operational existence. Therefore, it is of the director's opinion that the going concern basis of preparation continues to be appropriate.

 
2.3

Turnover

Turnover represents income from listed investments.

 
2.4

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 2
 


ROLLIN FAMILY INVESTMENT COMPANY LIMITED
 


 
Notes to the Financial Statements
For the Year Ended 31 March 2020

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in the profit or loss for the period.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2019 - 1).


4.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 April 2019
687,868


Additions
240,159


Disposals
(263,123)


Revaluations
(67,287)



At 31 March 2020
597,617




The historic cost of the listed investments held at the year end is £627,971 (2019 - £655,095).


5.


Debtors

2020
2019
£
£


Other debtors
389
550

389
550


Page 3
 


ROLLIN FAMILY INVESTMENT COMPANY LIMITED
 


 
Notes to the Financial Statements
For the Year Ended 31 March 2020

6.


Creditors: Amounts falling due within one year

2020
2019
£
£

Other creditors
675,787
671,767

Accruals and deferred income
4,519
4,387

680,306
676,154



7.


Reserves

Revaluation reserve

Included within the Profit and Loss Account is an undistributable amount of £nil (2019 -  profits of £32,819) relating to the fair value movement of listed investments in the year after taking into account taxation.

 
Page 4