REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Report of the Directors and |
|
Financial Statements for the Year Ended 31 March 2015 |
|
for |
|
Law 2457 Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Report of the Directors and |
|
Financial Statements for the Year Ended 31 March 2015 |
|
for |
|
Law 2457 Limited |
Law 2457 Limited (Registered number: 04747563) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 March 2015 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Report of the Directors | 2 |
|
Report of the Independent Auditors | 3 |
|
Profit and Loss Account | 5 |
|
Balance Sheet | 6 |
|
Notes to the Financial Statements | 7 |
|
Law 2457 Limited |
|
Company Information |
for the Year Ended 31 March 2015 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
AUDITORS: |
|
|
|
|
|
|
Law 2457 Limited (Registered number: 04747563) |
|
Report of the Directors |
for the Year Ended 31 March 2015 |
|
The directors present their report with the financial statements of the company for the year ended 31 March 2015. |
|
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of an intermediate holding company. |
|
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2014 to the date of this report. |
|
|
|
|
|
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with |
applicable law and regulations. |
|
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors |
have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting |
Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not |
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the |
company and of the profit or loss of the company for that period. In preparing these financial statements, the directors |
are required to: |
|
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will
continue in business. |
|
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the |
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and |
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for |
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud |
and other irregularities. |
|
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act |
2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have |
taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the |
company's auditors are aware of that information. |
|
AUDITORS |
The auditors, MHA MacIntyre Hudson, will be proposed for re-appointment at the forthcoming Annual General |
Meeting. |
|
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating |
to small companies. |
|
ON BEHALF OF THE BOARD: |
|
|
|
|
|
|
|
Report of the Independent Auditors to the Members of |
Law 2457 Limited |
|
We have audited the financial statements of Law 2457 Limited for the year ended 31 March 2015 on pages five to nine. |
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom |
Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
|
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the |
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those |
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent |
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's |
members as a body, for our audit work, for this report, or for the opinions we have formed. |
|
Respective responsibilities of directors and auditors |
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors. |
|
Scope of the audit of the financial statements |
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give |
reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. |
This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and |
have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by |
the directors; and the overall presentation of the financial statements. In addition, we read all the financial and |
non-financial information in the Report of the Directors to identify material inconsistencies with the audited financial |
statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent |
with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material |
misstatements or inconsistencies we consider the implications for our report. |
|
|
Opinion on financial statements |
In our opinion the financial statements: |
- |
give a true and fair view of the state of the company's affairs as at 31 March 2015 and of its profit for the year then
ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
|
Opinion on other matter prescribed by the Companies Act 2006 |
In our opinion the information given in the Report of the Directors for the financial year for which the financial |
statements are prepared is consistent with the financial statements. |
Report of the Independent Auditors to the Members of |
Law 2457 Limited |
|
|
Matters on which we are required to report by exception |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you |
if, in our opinion: |
- |
adequate accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
- |
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and
take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. |
|
|
|
|
|
for and on behalf of
|
|
|
|
|
|
|
|
Law 2457 Limited (Registered number: 04747563) |
|
Profit and Loss Account |
for the Year Ended 31 March 2015 |
|
31.3.15 | 31.3.14 |
Notes | £ | £ |
|
TURNOVER |
|
|
OPERATING PROFIT and |
PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION |
2 |
|
|
|
Tax on profit on ordinary activities | 3 |
|
|
PROFIT FOR THE FINANCIAL YEAR |
|
|
|
CONTINUING OPERATIONS |
None of the company's activities were acquired or discontinued during the current year or previous year. |
|
TOTAL RECOGNISED GAINS AND LOSSES |
The company has no recognised gains or losses for the current year or previous year. |
|
Law 2457 Limited (Registered number: 04747563) |
|
Balance Sheet |
31 March 2015 |
|
31.3.15 | 31.3.14 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
|
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 7 |
|
|
Capital redemption reserve | 8 |
|
|
Profit and loss account | 8 |
|
|
SHAREHOLDERS' FUNDS | 11 |
|
|
|
|
|
|
The financial statements were approved by the Board of Directors on
by: |
|
|
|
|
|
|
|
Law 2457 Limited (Registered number: 04747563) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2015 |
|
1. | ACCOUNTING POLICIES |
|
Accounting convention |
The financial statements have been prepared under the historical cost convention. |
|
The company did not trade throughout the current year and previous year. |
|
Preparation of consolidated financial statements |
The financial statements contain information about Law 2457 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, a company registered in England and Wales. |
|
Financial reporting standard number 1 |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
small company. |
|
Deferred tax |
Deferred tax is recognised on an undiscounted basis in respect of all timing differences that have originated but |
not reversed at the balance sheet date. |
|
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. |
|
2. | OPERATING PROFIT |
|
The operating profit is stated after charging: |
|
31.3.15 | 31.3.14 |
£ | £ |
|
Directors' remuneration and other benefits etc |
|
|
|
The audit fee is borne by the ultimate parent company, RO Trading Limited. |
|
3. | TAXATION |
|
Analysis of the tax charge |
No liability to UK corporation tax arose on ordinary activities for the year ended 31 March 2015 nor for the year |
ended 31 March 2014. |
|
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2014 |
and 31 March 2015 | 431,902 |
NET BOOK VALUE |
At 31 March 2015 |
|
At 31 March 2014 |
|
Law 2457 Limited (Registered number: 04747563) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2015 |
|
4. | FIXED ASSET INVESTMENTS - continued |
|
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
|
|
Nature of business:
|
% |
Class of shares: | holding |
Ordinary | 100.00 |
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.15 | 31.3.14 |
£ | £ |
Amounts owed by group undertakings |
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.15 | 31.3.14 |
£ | £ |
Other creditors |
|
|
|
7. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.15 | 31.3.14 |
value: | £ | £ |
|
A Ordinary Shares | 25p |
|
|
|
B Ordinary Shares | 25p |
|
|
264,033 | 264,033 |
|
8. | RESERVES |
Profit | Capital |
and loss | redemption |
account | reserve | Totals |
£ | £ | £ |
|
At 1 April 2014 |
|
|
|
Profit for the year |
|
|
At 31 March 2015 |
|
|
|
|
|
9. | RELATED PARTY DISCLOSURES |
|
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related |
Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group. |
Law 2457 Limited (Registered number: 04747563) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2015 |
|
10. | ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY |
|
The company's immediate and ultimate parent company is RO Trading Limited, a company incorporated in |
England and Wales. |
|
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. |
|
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. |
|
11. | RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS |
31.3.15 | 31.3.14 |
£ | £ |
Profit for the financial year |
|
|
Opening shareholders' funds |
|
|
Closing shareholders' funds |
|
|