Sir Rocco Forte Limited - Period Ending 2015-02-28

Sir Rocco Forte Limited

Unaudited Abbreviated Accounts

Period from 1 May 2014 to 28 February 2015

Sir Rocco Forte Limited
Contents
Period from 1 May 2014 to 28 February 2015

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

2 to 5

Sir Rocco Forte Limited
(Registration number: 03221756)
Abbreviated Balance Sheet at 28 February 2015

	Note	28 February 2015 £	30 April 2014 £
Fixed assets
Investments	2	711,868	711,868
Current assets
Debtors	3	494,943	299,622
Cash at bank and in hand		3,911	87,824
		498,854	387,446
Creditors: Amounts falling due within one year		(405,895)	(428,141)
Net current assets/(liabilities)		92,959	(40,695)
Net assets		804,827	671,173
Capital and reserves
Called up share capital	4	500,000	500,000
Profit and loss account		304,827	171,173
Shareholders' funds		804,827	671,173

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

For the year ending 28 February 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved by the director on 24 November 2015

.........................................
The Hon Sir Rocco Forte
Director

The notes on pages 2 to 5 form an integral part of these financial statements.
Page 1

Sir Rocco Forte Limited
Notes to the Abbreviated Accounts
Period from 1 May 2014 to 28 February 2015

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis, as the director has confirmed, that should the need arise, he will support the company for at least a further year from the date of signing the accounts.

Turnover

Income for trademark and brand management services is recognised as earned.

Depreciation

Depreciation is provided on all equipment at the rate of 33 1/3% per annum on a straight line basis in order to write off the cost less residual value of each asset over its expected useful life.

Asset class	Depreciation method and rate
Office Equipment	33 1/3% straight line per annum

Fixed asset investments

Fixed asset investments are stated at cost less provision for any permanent diminution in value.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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.

End of note

Page 2

Sir Rocco Forte Limited
Notes to the Abbreviated Accounts
Period from 1 May 2014 to 28 February 2015

2	Fixed assets

	Tangible assets £	Investments £	Total £
Cost
At 1 May 2014	40,762	711,868	752,630
At 28 February 2015	40,762	711,868	752,630
Depreciation
At 1 May 2014	40,762	-	40,762
At 28 February 2015	40,762	-	40,762
Net book value
At 28 February 2015	-	711,868	711,868
At 30 April 2014	-	711,868	711,868

Page 3

Sir Rocco Forte Limited
Notes to the Abbreviated Accounts
Period from 1 May 2014 to 28 February 2015

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Associates
Catholic Herald Limited	England and Wales	Ordinary shares	47.7%	Newspaper publishing

The financial period end of Catholic Herald Limited is 31 December 2014. The loss for the financial period of Catholic Herald Limited was £232,217 and the aggregate amount of capital and reserves at the end of the period was £196,139.

End of note

Debtors

Debtors includes £185,544 (2014 - £171,968) receivable after more than one year.

End of note

4	Share capital

Allotted, called up and fully paid shares

	28 February 2015			30 April 2014
		No.	£		No.	£
Ordinary shares of £1 each		500,000	500,000		500,000	500,000

End of note

Page 4

Sir Rocco Forte Limited
Notes to the Abbreviated Accounts
Period from 1 May 2014 to 28 February 2015

5	Related party transactions

Director's advances and credits

	1 May 2014 to 28 February 2015 Advance/ Credit £	1 May 2014 to 28 February 2015 Repaid £	Year ended 30 April 2014 Advance/ Credit £	Year ended 30 April 2014 Repaid £
The Hon Sir Rocco Forte
Personal expenses paid by the company, including cash withdrawals and repayments	304,159	34,946	142,631	-
Net dividend	-	-	-	136,000
Net salary	-	-	-	5,500
	304,159	34,946	142,631	141,500

End of note

Page 5