REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th April 2023 |
for |
R H INVESTMENTS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th April 2023 |
for |
R H INVESTMENTS LIMITED |
R H INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
Contents of the Financial Statements |
for the Year Ended 30th April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
R H INVESTMENTS LIMITED |
Company Information |
for the Year Ended 30th April 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
41 St Thomas's Road |
Chorley |
Lancashire |
PR7 1JE |
R H INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
Balance Sheet |
30th April 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
R H INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
Notes to the Financial Statements |
for the Year Ended 30th April 2023 |
1. | STATUTORY INFORMATION |
R H Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Revenue recognition |
Revenue is derived from investment property management services, net of value added tax. |
Tangible fixed assets |
Long leasehold | - |
Fixtures and fittings | - |
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. |
Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
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. |
Investment property is shown at most recent valuation, which in this case is currently considered to be original cost. |
R H INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
Notes to the Financial Statements - continued |
for the Year Ended 30th April 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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. |
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. |
Investments |
Investments in subsidiary: investments held as fixed assets are stated at cost less provision for any impairment in value. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
R H INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
Notes to the Financial Statements - continued |
for the Year Ended 30th April 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
At 1st May 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30th April 2023 |
DEPRECIATION |
At 1st May 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30th April 2023 |
NET BOOK VALUE |
At 30th April 2023 |
At 30th April 2022 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1st May 2022 |
and 30th April 2023 |
NET BOOK VALUE |
At 30th April 2023 |
At 30th April 2022 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st May 2022 |
Disposals | ( |
) |
At 30th April 2023 |
NET BOOK VALUE |
At 30th April 2023 |
At 30th April 2022 |
R H INVESTMENTS LIMITED (REGISTERED NUMBER: 03133518) |
Notes to the Financial Statements - continued |
for the Year Ended 30th April 2023 |
7. | DEBTORS |
30.4.23 | 30.4.22 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Due from related companies | 57,811 | 141,711 |
Deferred tax asset |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Due from related companies | 600,000 | 500,000 |
Aggregate amounts |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Bank loans and overdrafts |
Tax |
Social security and other taxes |
Accruals and deferred income |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.23 | 30.4.22 |
£ | £ |
Bank loans |
The National Westminster Bank hold a fixed and floating charge over the undertaking and all property and assets, the debenture is dated 2009. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.23 | 30.4.22 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
Deferred Ordinary | £1 | 100 | 100 |
1,100 | 1,100 |
11. | ULTIMATE CONTROLLING PARTY |
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. |