| RG Group Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2021 |
|
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| 1 |
Accounting policies |
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Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The financial statements contain information about RG Group Ltd as an individual company
and do not contain consolidated financial information as the parent of a group. The company is
exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare
consolidated financial statements.
The presentation currency of the financial statements is the Pound Sterling (£). |
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Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Going Concern |
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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. |
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| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
2 |
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| 3 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 January 2021 |
180 |
|
|
At 31 December 2021 |
180 |
|
|
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Historical cost |
|
At 1 January 2021 |
180 |
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At 31 December 2021 |
180 |
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| 4 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Amounts owed by group undertakings |
|
6,626,672 |
|
4,447,664 |
|
Other debtors |
1,374,901 |
|
553,908 |
|
|
|
|
|
|
8,001,573 |
|
5,001,572 |
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| 5 |
Related party transactions |
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The company has taken advantage of the exemption, available under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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| 6 |
Other information |
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RG Group Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
5a Colbeck Mews |
|
London |
|
SW7 4LX |
