How is my ceiling rose/light switch functioning?? UK
That rose looks correctly wired for and end-of-line situation. The usual 3 wires in a rose are loop in, loop out, and switch. loop out is optional as it is used to supply power to the next fitting. If all your light fittings are like this, then  either each light has it's own cable runnign back to the fuse box, or (more likely) the loop is connected in juction boxes above the ceiling. This could be because the current roses replaced fittings which did not have the necessary number of terminals for a switch connection.