RSE Holdings Limited Filleted accounts for Companies House (small and micro)

RSE Holdings Limited Filleted accounts for Companies House (small and micro)

RSE HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09518085
RSE HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2020
RSE HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2020
2020
2019
Note
£
£
£
£
FIXED ASSETS
Investments
4
3,000
3,000
CURRENT ASSETS
Debtors
5
340,043
129,712
Cash at bank and in hand
205,151
266,340
---------
---------
545,194
396,052
CREDITORS: amounts falling due within one year
6
960
3,682
---------
---------
NET CURRENT ASSETS
544,234
392,370
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
547,234
395,370
---------
---------
CAPITAL AND RESERVES
Called up share capital
1,000
1,000
Profit and loss account
546,234
394,370
---------
---------
SHAREHOLDERS FUNDS
547,234
395,370
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
RSE HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2020
These financial statements were approved by the board of directors and authorised for issue on 14 January 2021 , and are signed on behalf of the board by:
M. Marshall
Director
Company registration number: 09518085
RSE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2020
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Guardian House, 42 Preston New Road, Blackburn, Lancashire, BB2 6AH.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
4. INVESTMENTS
Shares in group undertakings
£
Cost
At 1 April 2019 and 31 March 2020
3,000
-------
Impairment
At 1 April 2019 and 31 March 2020
–
-------
Carrying amount
At 31 March 2020
3,000
-------
At 31 March 2019
3,000
-------
The company owns 100% of the issued share capital of the companies listed below,
Aggregate capital and reserves
2020
2019
£
£
R.S. Engineering (Burnley) Limited
420,769
587,336
Burnley Balancing Limited
66,988
36,942
Amber Indrani Property Limited
532,933
519,292
Profit for the year
2020
2019
£
£
R.S. Engineering (Burnley) Limited
20,703
116,853
Burnley Balancing Limited
30,046
58,186
Amber Indrani Property Limited
57,481
66,293
5. DEBTORS
2020
2019
£
£
Amounts owed by group undertakings
–
44,265
Directors loan account
250,043
85,447
Other debtors
90,000
–
---------
---------
340,043
129,712
---------
---------
6. CREDITORS: amounts falling due within one year
2020
2019
£
£
Amounts owed to group undertakings
–
3,682
Corporation tax
960
–
----
-------
960
3,682
----
-------
7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the company made a loan to Mr A. Ralph, a director, amounting to £250,043 which was the amount owed at 31 March 2020. Interest has been charged on the loan at a rate of 2.5% per annum amounting to £6,235. The loan was repaid in August 2020.
8. RELATED PARTY TRANSACTIONS
The company was under the control of Mr A.C. Ralph throughout the year. Mr A.C. Ralph is the managing director and majority shareholder. During the year the company paid dividends to the directors amounting to £83,333.