Company No:
Contents
DIRECTORS | I Birtles |
L Grut | |
I Harbour | |
R Paul | |
G Stirk | |
A Tyley |
REGISTERED OFFICE | Level 14 The Leadenhall Building |
122 Leadenhall Street | |
London | |
EC3V 4AB | |
United Kingdom |
COMPANY NUMBER | 10248950 (England and Wales) |
ACCOUNTANT | Praxis |
1 Poultry | |
London | |
EC2R 8EJ |
Note | 2021 | 2020 | ||
£ | £ | |||
Current assets | ||||
Debtors | 3 |
|
|
|
Cash at bank and in hand | 4 |
|
|
|
4,441 | 4,441 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
|
(
|
|
Net current liabilities | (523) | (523) | ||
Total assets less current liabilities | (523) | (523) | ||
Net liabilities | (
|
(
|
||
Capital and reserves | ||||
Called-up share capital | 6 |
|
|
|
Profit and loss account | (
|
(
|
||
Total shareholder's deficit | (
|
(
|
Directors' responsibilities:
The financial statements of RSHP2 Limited (registered number:
I Birtles
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
RSHP2 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Level 14 The Leadenhall Building, 122 Leadenhall Street, London, EC3V 4AB, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The Company is dependent on the Parent LLP for all of its income. The Parent LLP's forecasts and projections, taking account of the continued possible impact of COVID-19 on trading performance, show that the Parent LLP and it's subsidiaries are able to operate within the level of their current facilities.
Therefore, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
2021 | 2020 | ||
£ | £ | ||
Amounts owed by Group undertakings |
|
|
|
Amounts owed by connected persons |
|
|
|
Other debtors |
|
|
|
|
|
2021 | 2020 | ||
£ | £ | ||
Cash at bank and in hand |
|
|
2021 | 2020 | ||
£ | £ | ||
Amounts owed to Group undertakings |
|
|
|
Amounts owed to Parent undertakings |
|
|
|
|
|
Amounts owed to Group undertakings are repayable on demand and do not bear interest.
2021 | 2020 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
Transactions with owners holding a participating interest in the entity
2021 | 2020 | ||
£ | £ | ||
Amounts owed from an entity holding a participating interest in the Company | 340 | 340 |
Both entities produce group accounts and copies of these can be obtained from Companies House, Crown Way, Cardiff.