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Unaudited Financial Statements for the Year Ended 31st December 2017 |
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RH INVESTMENTS LIMITED |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31st December 2017 |
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for |
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RH INVESTMENTS LIMITED |
RH INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
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Contents of the Financial Statements |
for the Year Ended 31st December 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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RH INVESTMENTS LIMITED |
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Company Information |
for the Year Ended 31st December 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
41 St Thomas's Road |
Chorley |
Lancashire |
PR7 1JE |
RH INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
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Balance Sheet |
31st December 2017 |
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31.12.17 | 31.12.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
RH INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
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Balance Sheet - continued |
31st December 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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RH INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
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Notes to the Financial Statements |
for the Year Ended 31st December 2017 |
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1. | STATUTORY INFORMATION |
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RH Investments Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Tangible fixed assets |
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Long leasehold | - |
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Fixtures and fittings | - |
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In a departure from FRS 102 Section 1A for small entities, no depreciation is provided in respect of freehold |
properties. This is a departure from the requirements of the Companies Act 2006 which requires all properties to |
be depreciated. The directors consider that to depreciate them would not give a true and fair view. Depreciation |
is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of |
depreciation which might otherwise have been charged cannot be separately identified or quantified. The |
directors consider that this policy results in the financial statements giving a true and fair view. |
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Investment property |
Investment properties are properties held to earn rentals, they are initially measured at cost, including transaction |
costs. Subsequently they are then measured at fair value on an open market basis. Deferred tax is provided on |
these movements. Gains and losses arising from changes in fair value are included in the Statement of Income & |
Retained Earnings in the period in which they arise. |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 |
'Other Financial Instruments' of FRS 102 to all its financial instruments. Financial instruments are recognised in |
the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there |
is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or |
to realise the asset and settle the liability simultaneously. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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RH INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st December 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Rents received |
Rents received represents rental income receivable, net of value added tax. |
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Investments |
Investments in subsidiary: investments held as fixed assets are stated at cost less provision for any impairment in |
value. |
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Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank |
overdrafts, when applicable, are shown within borrowings in current liabilities. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
At 1st January 2017 |
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Disposals |
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( |
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At 31st December 2017 |
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DEPRECIATION |
At 1st January 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31st December 2017 |
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NET BOOK VALUE |
At 31st December 2017 |
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At 31st December 2016 |
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RH INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st December 2017 |
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5. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
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COST |
At 1st January 2017 |
and 31st December 2017 |
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NET BOOK VALUE |
At 31st December 2017 |
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At 31st December 2016 |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: Unit 11, Common Bank Industrial Estate, Ackhurst Road, Chorley, PR7 1NH |
Nature of business:
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Class of shares: | holding |
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£ | £ |
Aggregate capital and reserves |
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Profit for the year |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1st January 2017 |
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Additions |
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Disposals | ( |
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At 31st December 2017 |
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NET BOOK VALUE |
At 31st December 2017 |
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At 31st December 2016 |
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7. | DEBTORS |
31.12.17 | 31.12.16 |
£ | £ |
Amounts falling due within one year: |
Due from related companies | 56,389 | 164,459 |
Deferred tax asset |
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Prepayments and accrued income |
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RH INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st December 2017 |
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7. | DEBTORS - continued |
31.12.17 | 31.12.16 |
£ | £ |
Amounts falling due after more than one year: |
Due from related companies | 600,000 | 650,000 |
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Aggregate amounts |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Bank loans and overdrafts |
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Tax |
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Social security and other taxes |
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Accruals & Deferred Income |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 122,917 | - |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.17 | 31.12.16 |
£ | £ |
Bank loans |
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The Nat West Bank hold a debenture dated 26th March 2009 over the company's assets. They also hold a legal |
charge secured over the investment properties held by the company. |
RH INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st December 2017 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.17 | 31.12.16 |
value: | £ | £ |
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Ordinary | £1 | 1,000 | 1,000 |
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Deferred Ordinary | £1 | 100 | 100 |
1,100 | 1,100 |
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12. | ULTIMATE CONTROLLING PARTY |
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Throughout the current and previous year, Mr & Mrs R Hudaly, have controlled the company by virtue of |
holding 100% of the issued ordinary share capital. |