Richard James (Holdings) Ltd - Accounts to registrar (filleted) - small 22.3
Richard James (Holdings) Ltd - Accounts to registrar (filleted) - small 22.3
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2022 |
for |
RICHARD JAMES (HOLDINGS) LTD |
RICHARD JAMES (HOLDINGS) LTD (REGISTERED NUMBER: 03789912) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 JANUARY 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
RICHARD JAMES (HOLDINGS) LTD |
Company Information |
FOR THE YEAR ENDED 31 JANUARY 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Bath House |
6 - 8 Bath Street |
Bristol |
BS1 6HL |
RICHARD JAMES (HOLDINGS) LTD (REGISTERED NUMBER: 03789912) |
Balance Sheet |
31 JANUARY 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
RICHARD JAMES (HOLDINGS) LTD (REGISTERED NUMBER: 03789912) |
Balance Sheet - continued |
31 JANUARY 2022 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
RICHARD JAMES (HOLDINGS) LTD (REGISTERED NUMBER: 03789912) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 JANUARY 2022 |
1. | COMPANY INFORMATION |
Richard James (Holdings) Ltd is a |
The principal activity of the company in the year under review was that of a management holding company. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below. |
Going concern |
The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that despite the adverse effects COVID-19 is having on both the company and the economy as a whole the company has adequate resources to continue in operational existence for the foreseeable future. On this basis, the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements. |
Turnover |
Turnover represents the total invoice value, excluding value added tax, of sales made during the year 31 January 2022 and derives from the provision of services falling within the company's ordinary activities. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Cash and cash equivalents |
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
RICHARD JAMES (HOLDINGS) LTD (REGISTERED NUMBER: 03789912) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 JANUARY 2022 |
2. | ACCOUNTING POLICIES - continued |
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 February 2021 | 49,971 |
Additions | 18,395 |
Disposals | ( |
) | (42 | ) |
Revaluations | 2,678 |
At 31 January 2022 | 71,002 |
NET BOOK VALUE |
At 31 January 2022 | 71,002 |
At 31 January 2021 | 49,971 |
RICHARD JAMES (HOLDINGS) LTD (REGISTERED NUMBER: 03789912) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 JANUARY 2022 |
4. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31 January 2022 is represented by: |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2017 | - | (6,143 | ) | (6,143 | ) |
Valuation in 2018 | - | 4,084 | 4,084 |
Valuation in 2019 | - | (1,719 | ) | (1,719 | ) |
Valuation in 2020 | - | 3,064 | 3,064 |
Valuation in 2021 | - | (686 | ) | (686 | ) |
Valuation in 2022 | - | 2,675 | 2,675 |
Cost | 100 | 69,627 | 69,727 |
100 | 70,902 | 71,002 |
If fixed asset investments had not been revalued they would have been included at the following historical cost: |
2022 | 2021 |
£ | £ |
Cost | 69,627 | 51,371 |
Other fixed asset investments were valued on an open market basis on 31 January 2022 by Rathbone Investment Management . |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2021 |
and 31 January 2022 |
NET BOOK VALUE |
At 31 January 2022 |
At 31 January 2021 |
In the directors opinion, the fair value of the investment property, as at 31 January 2022, is similar to that of the original cost. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed by group undertakings |
Prepayments |
RICHARD JAMES (HOLDINGS) LTD (REGISTERED NUMBER: 03789912) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 JANUARY 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Social security and other taxes |
VAT | 4,600 | 4,600 |
Other creditors |
Directors' current accounts | 31,683 | 25,683 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | CONTINGENT LIABILITIES |
Bank borrowings of £285,378 (2021 - £313,594) in Richard James International Limited are secured by a composite guarantee from the company. |
10. | RELATED PARTY DISCLOSURES |
Richard James International Limited is a subsidiary of the company. During the year the company charged Richard James International Limited management fees totalling £138,000 (2021 - £138,000). At the year end the company was owed £30,009 (2021 - £30,145) from Richard James International Limited in respect of an interest free loan. |
At the year end £31,683 (2021 - £25,683) was owed to directors of the company in respect of an interest free loan. There is no fixed date of repayment on this loan. |