ACCOUNTS - Final Accounts

RETAIL RESEARCH & DEVELOPMENT LIMITED - Company Information

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Registered number: 01874235

RETAIL RESEARCH & DEVELOPMENT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2020

RETAIL RESEARCH & DEVELOPMENT LIMITED

REGISTERED NUMBER: 01874235

BALANCE SHEET

AS AT 31 MARCH 2020

		2020		2019
Note		£		£

Fixed assets
Tangible assets	3		-		926
			-		926
Current assets
Debtors	4	28,153		45,811
Cash at bank and in hand		102,161		178,761
		130,314		224,572
Creditors: amounts falling due within one year	5	(20,259)		(62,803)
Net current assets			110,055		161,769
Total assets less current liabilities			110,055		162,695

Net assets			110,055		162,695

Capital and reserves
Called up share capital	100	100
Profit and loss account	109,955	162,595
	110,055	162,695

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RETAIL RESEARCH & DEVELOPMENT LIMITED

REGISTERED NUMBER: 01874235

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2020

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 March 2021.

A P Ansell

Director

The notes on pages 3 to 6 form part of these financial statements.

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RETAIL RESEARCH & DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

1.	General information

Retail Reseach & Development Limited is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act. The company's registered number is 01874235. The address of Company's registered office is located at Raymond Penny House, Phoenix Lane, Tiverton, Devon, United Kingdom, EX16 6LU.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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RETAIL RESEARCH & DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

2.Accounting policies (continued)

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, depreciation is provided on the following basis.

				Fixtures & fittings	-	15%	Reducing Balance
				Computer equipment	-	33%	Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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RETAIL RESEARCH & DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

3.	Tangible fixed assets

	Fixtures & fittings	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 April 2019	7,938	27,111	35,049
At 31 March 2020	7,938	27,111	35,049
Depreciation
At 1 April 2019	7,938	26,185	34,123
Charge for the year on owned assets	-	926	926
At 31 March 2020	7,938	27,111	35,049
Net book value
At 31 March 2020	-	-	-
At 31 March 2019	-	926	926

Debtors

					2020	2019
					£	£



Amounts owed by group undertakings	20,795	42,656
Other debtors	7,358	3,155
	28,153	45,811

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RETAIL RESEARCH & DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

5.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Trade creditors	469	-
Amounts owed to group undertakings	18,100	58,090
Corporation tax	-	3,392
Accruals and deferred income	1,690	1,320
	20,259	62,802
Difference to be cleared		(1)

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