Revolution Holdings Limited 31/12/2020 iXBRL
Revolution Holdings Limited 31/12/2020 iXBRL
Company registration number:
05267094
Contents
Directors responsibilities statement
Statement of financial position
Notes to the financial statements
Directors responsibilities statement
Year ended 31 December 2020
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
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select suitable accounting policies and then apply them consistently;
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make judgments and accounting estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of financial position
31 December 2020
2020 | 2019 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Investments | 4 |
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Creditors: amounts falling due | |||||||||
within one year | 5 |
(
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(
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_______ | _______ | ||||||||
Net current liabilities |
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(
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_______ | _______ | ||||||||
Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 6 |
(
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(
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_______ | _______ | ||||||||
Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital - allotted and fully paid |
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Profit and loss account |
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_______ | _______ | ||||||||
Shareholders funds |
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_______ | _______ | ||||||||
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
13 August 2021
, and are signed on behalf of the board by:
Director
Company registration number:
05267094
Notes to the financial statements
Year ended 31 December 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 Unit 4a Park Lane Business Park, Park Lane, Kirkby in Ashfield, Nottinghamshire, NG17 9GU.
The principal activity of the company is to act as a holding company.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
Going concern
Judgements and key sources of estimation uncertainty
Taxation
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
4.
Investments
Shares in group undertakings and participating interests | Total | ||
£ | £ | ||
Cost | |||
At 1 January 2020 and 31 December 2020 |
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_______ | _______ | ||
Impairment | |||
At 1 January 2020 and 31 December 2020 | - | - | |
_______ | _______ | ||
Carrying amount | |||
At 31 December 2020 |
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_______ | _______ | ||
At 31 December 2019 |
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_______ | _______ | ||
5.
Creditors: amounts falling due within one year
2020 | 2019 | |||
£ | £ | |||
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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_______ | _______ | |||
The bank holds as security a debenture incorporating a fixed and floating charge over all property and assets of the company, both present and future.
6.
Creditors: amounts falling due after more than one year
2020 | 2019 | |||
£ | £ | |||
Other creditors |
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_______ | _______ | |||
7.
Summary audit opinion
The senior statutory auditor was
Steven Newman LLB BFP FCA
for and on behalf of
Hobsons CA Limited
8.
Related party transactions
9.
Ultimate parent undertaking
The company is a 100% subsidiary of
Tyre Valve Specialists Holdings Limited
, registered in England and Wales, and that is the ultimate parent company.Tyre Valve Specialists Holdings Limited prepares the only consolidated financial statements in the group which include the results of Revolution Holdings Limited
. Copies of the financial statements are available from Companies House. The registered office of Tyre Valve Specialists Holdings Limited is that of Revolution Holdings Limited
.