Richard James (Holdings) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 03789912 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2021

for

RICHARD JAMES (HOLDINGS) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R James

B Wickenden

A James

G Wickenden

SECRETARY:

B Wickenden

REGISTERED OFFICE:

Bath House

6-8 Bath Street

Bristol

BS1 6HL

REGISTERED NUMBER:

03789912 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Bath House

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Investments

4

49,971

32,210

Investment property

5

182,761

232,732

214,971

CURRENT ASSETS

Debtors

6

30,407

384

Cash at bank

38,378

75,927

68,785

76,311

CREDITORS

Amounts falling due within one year

7

(46,133

)

(35,249

)

NET CURRENT ASSETS

22,652

41,062

TOTAL ASSETS LESS CURRENT
LIABILITIES

255,384

256,033

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

255,284

255,933

SHAREHOLDERS' FUNDS

255,384

256,033

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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

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 28 October 2021 and were signed on its behalf by:

R James - Director

1.	COMPANY INFORMATION

Richard James (Holdings) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

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 2021 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.

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 6 (2020 - 6 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

COST OR VALUATION

At 1 February 2020

100

32,110

32,210

Additions

-

57,979

Disposals

-

(39,471

)

(39,471

)

Revaluations

-

(747

)

(747

)

At 31 January 2021

100

49,871

49,971

NET BOOK VALUE

At 31 January 2021

100

49,871

49,971

At 31 January 2020

100

32,110

32,210

Cost or valuation at 31 January 2021 is represented by:

Shares in

group

Other

undertakings

investments

Totals

£

Valuation in 2017

-

(6,143

)

(6,143

)

Valuation in 2018

-

4,084

Valuation in 2019

-

(1,719

)

(1,719

)

Valuation in 2020

-

3,064

Valuation in 2021

-

(686

)

(686

)

Cost

100

51,271

51,371

100

49,871

49,971

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2021

2020

£

Cost

51,371

32,824

Other fixed asset investments were valued on an open market basis on 31 January 2021 by Rathbone Investment Management .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2020

and 31 January 2021

182,761

NET BOOK VALUE

At 31 January 2021

182,761

At 31 January 2020

182,761

In the directors opinion, the fair value of the investment property, as at 31 January 2021, is similar to that of the original cost.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Amounts owed by group undertakings

30,145

126

Prepayments

262

258

30,407

384

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Social security and other taxes

8,253

7,392

VAT

4,600

4,560

Other creditors

7,597

3,614

Directors' current accounts

25,683

19,683

46,133

35,249

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

100

Ordinary

£1

100

9.	CONTINGENT LIABILITIES

Bank borrowings of £313,594 (2020 - £257,592) 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 (2020 - £138,000). At the year end the company was owed £30,145 (2020 - £126) from Richard James International Limited in respect of an interest free loan.

At the year end £29,683 (2020 - £19,683) was owed to directors of the company in respect of an interest free loan. There is no fixed date of repayment on this loan.

Richard James (Holdings) Ltd - Accounts to registrar (filleted) - small 18.2

Richard James (Holdings) Ltd - Accounts to registrar (filleted) - small 18.2