Year Ended
Registration number:
Richmond Company 222 Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Richmond Company 222 Limited
Balance Sheet
31 July 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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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 |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Revaluation reserve |
3,500,779 |
3,500,779 |
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Other reserves |
141,505 |
141,505 |
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Profit and loss account |
148,468 |
184,134 |
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Shareholders' funds |
3,790,754 |
3,826,420 |
Richmond Company 222 Limited
Balance Sheet
31 July 2022
For the financial year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 06506069
Richmond Company 222 Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. The company was purchased post year end on 30 September 2022 by Parade Park Hotel Limited (14144262). The company continues to be supported by its parent.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Richmond Company 222 Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2022
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold Land and Buildings |
Not depreciated |
Plant and Equipment |
5% to 25% straight line basis |
Investment property
Goodwill
Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life. The goodwill on the balance sheet is fully amortised.
Asset class |
Amortisation method and rate |
Goodwill |
10 year straight line basis |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
Richmond Company 222 Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2022
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 August 2021 |
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At 31 July 2022 |
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Amortisation |
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At 1 August 2021 |
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At 31 July 2022 |
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Carrying amount |
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At 31 July 2022 |
- |
- |
Richmond Company 222 Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2022
Tangible assets |
Land and buildings |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 August 2021 |
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At 31 July 2022 |
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Depreciation |
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At 1 August 2021 |
- |
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Charge for the year |
- |
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At 31 July 2022 |
- |
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Carrying amount |
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At 31 July 2022 |
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At 31 July 2021 |
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Included within the net book value of land and buildings above is £5,574,500 (2021 - £5,574,500) in respect of freehold land and buildings.
Investment properties |
2022 |
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At 1 August |
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At 31 July |
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Investment property valued on an open market basis on 31 July 2018 by the directors.
The open market value of the investment property has been considered by the directors with a conclusion that any change since the last valuation is not material.
There has been no valuation of investment property by an independent valuer.
Stocks |
2022 |
2021 |
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Other inventories |
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Richmond Company 222 Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2022
Debtors |
2022 |
2021 |
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Trade debtors |
- |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
2022 |
2021 |
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Due after one year |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Richmond Company 222 Limited
Notes to the Unaudited Financial Statements
Year Ended 31 July 2022
Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:
Revaluation reserve |
Total |
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Surplus/deficit on property, plant and equipment revaluation |
( |
( |
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Non adjusting events after the financial period |
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Parent and ultimate parent undertaking |
The company's immediate parent is