Sir Rocco Forte Limited - Period Ending 2016-02-29

Sir Rocco Forte Limited

Unaudited Abbreviated Accounts

Year Ended 29 February 2016

Sir Rocco Forte Limited
Contents
Year Ended 29 February 2016

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

2 to 4

Sir Rocco Forte Limited
(Registration number: 03221756)
Abbreviated Balance Sheet at 29 February 2016

	Note	29 February 2016 £	28 February 2015 £
Fixed assets
Investments	2	711,868	711,868
Current assets
Debtors	3	3,883,898	494,943
Cash at bank and in hand		118,962	3,911
		4,002,860	498,854
Creditors: Amounts falling due within one year		(1,097,028)	(405,895)
Net current assets		2,905,832	92,959
Net assets		3,617,700	804,827
Capital and reserves
Called up share capital	4	500,000	500,000
Profit and loss account		3,117,700	304,827
Shareholders' funds		3,617,700	804,827

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

For the year ending 29 February 2016 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved by the director on 16 November 2016

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

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Sir Rocco Forte Limited
Notes to the Abbreviated Accounts
Year Ended 29 February 2016

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 January 2015).

Turnover

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

Depreciation

Depreciation is provided as follows 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
Year Ended 29 February 2016

2	Fixed assets

	Tangible assets £	Investments £	Total £
Cost
At 1 March 2015	40,762	711,868	752,630
At 29 February 2016	40,762	711,868	752,630
Depreciation
At 1 March 2015	40,762	-	40,762
At 29 February 2016	40,762	-	40,762
Net book value
At 29 February 2016	-	711,868	711,868
At 28 February 2015	-	711,868	711,868

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

Holding

Proportion of voting rights and shares held

Principal activity

Associates
Catholic Herald Limited	Ordinary shares	47.7%	Newspaper publishing

The financial period end of Catholic Herald Limited is 31 December 2015. The loss for the financial period of Catholic Herald Limited was £127,581 and the aggregate amount of capital and reserves at the end of the period was £68,558.

End of note

Page 3

Sir Rocco Forte Limited
Notes to the Abbreviated Accounts
Year Ended 29 February 2016

Debtors

Debtors includes £3,432,011 (2015 - £185,544) receivable after more than one year.

End of note

4	Share capital

Allotted, called up and fully paid shares

	29 February 2016			28 February 2015
		No.	£		No.	£
Ordinary shares of £1 each		500,000	500,000		500,000	500,000

End of note

5	Related party transactions

Director's advances and credits

	Year ended 29 February 2016 Advance/ Credit £	Year ended 29 February 2016 Repaid £	1 May 2014 to 28 February 2015 Advance/ Credit £	1 May 2014 to 28 February 2015 Repaid £
The Hon Sir Rocco Forte
Personal expenses paid by the company, including cash withdrawals and repayments	169,637	-	304,159	34,946
Net dividend	-	400,000	-	-
	169,637	400,000	304,159	34,946

End of note

Page 4