Reachnoble Limited - Period Ending 2019-06-30

Registration number: 02750961

Reachnoble Limited

Annual Report and Financial Statements

for the Period from 1 January 2018 to 30 June 2019

Reachnoble Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 7

Reachnoble Limited

Company Information

Director

M W Middleton

Company secretary

B A Collins

Registered office

93 Chancery Lane London WC2A 1DU

Auditors

Ashgates Corporate Services Limited Registered Auditor 5 Prospect Place Millennium Way Pride Park Derby DE24 8HG

Page 1

Reachnoble Limited

(Registration number: 02750961)
Balance Sheet as at 30 June 2019

	Note	30 June 2019 £	31 December 2017 £
Fixed assets
Investment property	4	320,000	320,000
Investments	5	759,016	759,016
		1,079,016	1,079,016
Current assets
Debtors due within one year	6	338,763	301,264
Debtors due over one year	6	603,979	579,860
Cash at bank and in hand		15,991	27,650
		958,733	908,774
Creditors: Amounts falling due within one year	7	(106,493)	(114,675)
Net current assets		852,240	794,099
Total assets less current liabilities		1,931,256	1,873,115
Creditors: Amounts falling due after more than one year	7	(1,647,385)	(1,586,363)
Provisions for liabilities		(20,730)	(20,730)
Net assets		263,141	266,022
Capital and reserves
Called up share capital	8	2	2
Fair value reserve		201,470	201,470
Profit and loss account		61,669	64,550
Total equity		263,141	266,022

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 27 March 2020
 

.........................................

M W Middleton
Director

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 2

Reachnoble Limited

Notes to the Financial Statements for the Period from 1 January 2018 to 30 June 2019

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of the registered office is given in the company information on page 1 of the financial statements.

2	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.

The financial statements are presented in Sterling (£) and rounded to the nearest £1.

Disclosure of long or short period

The financial statements cover an 18 month period from 1 January 2018 to 30 June 2019 and as such the comparatives are not entirely comparable. The accounting reference date was changed for commercial reasons.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report
 

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was David Mark Newborough, who signed for and on behalf of Ashgates Corporate Services Limited on 27 March 2020.

Exemption from preparing group accounts

The financial statements contain information about Reachnoble Limited as an individual company and do not contain consolidated financial information as the parent of a group.

The company is exempt under section 399(1) of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertakings are part of a small group.

Revenue recognition

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Rental income is recognised based on the period the charge relates to.

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Reachnoble Limited

Notes to the Financial Statements for the Period from 1 January 2018 to 30 June 2019

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Tax

The tax expense for the period comprises current and deferred 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.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. 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.

Investment property

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2017 - 1).

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Reachnoble Limited

Notes to the Financial Statements for the Period from 1 January 2018 to 30 June 2019

4	Investment properties

	30 June 2019 £
At 1 January 2018	320,000
At 30 June 2019	320,000

The fair value of the investment property was reviewed by the directors at 30 June 2019. The fair values have been determined by carrying out a review of the property market and investment yields in the area.

The investment property has a carrying amount at historical cost of £97,800 (2017 - £97,800).

5	Investments

	30 June 2019 £	31 December 2017 £
Investments in subsidiaries	759,016	759,016

Subsidiaries	£
Cost or valuation
At 1 January 2018 and 30 June 2019	759,016
Provision
At 1 January 2018 and 30 June 2019	-
Carrying amount
At 30 June 2019	759,016
At 31 December 2017	759,016

Page 5

Reachnoble Limited

Notes to the Financial Statements for the Period from 1 January 2018 to 30 June 2019

6

Debtors

	30 June 2019 £	31 December 2017 £
Trade debtors	9,600	9,600
Amounts owed by group undertakings	274,643	277,311
Other debtors	658,499	594,213
	942,742	881,124

Details of non-current trade and other debtors

£603,979 (2017 - £579,860) of other debtors is classified as non-current.

7

Creditors

	30 June 2019 £	31 December 2017 £
Due within one year
Trade creditors	1,136	468
Amounts owed to group undertakings	60,000	79,600
Taxation and social security	1,411	1,522
Other creditors	43,946	33,085
	106,493	114,675

 

	30 June 2019 £	31 December 2017 £
Due after one year
Other creditors	1,647,385	1,586,363

8	Share capital

Allotted, called up and fully paid shares

	30 June 2019		31 December 2017
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

Page 6

Reachnoble Limited

Notes to the Financial Statements for the Period from 1 January 2018 to 30 June 2019

9	Parent and ultimate parent undertaking

The company's immediate parent is Radcliffe & Taylor (1976) Limited, incorporated in England.

 The ultimate parent is Radcliffe & Taylor Limited, incorporated in England.
 

Relationship between entity and parents

The parent of the smallest and largest group in which these financial statements are consolidated is Radcliffe & Taylor Limited, incorporated in England.

The address of Radcliffe & Taylor Limited is:
93 Chancery Lane, London, WC2A 1DU

These financial statements are available on request from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.

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