Company No: 10248926 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	I Birtles
	L Grut
	I W Harbour
	J McElgunn
	R T Paul
	G C Stirk
	A J Tyley

REGISTERED OFFICE	Level 14 The Leadenhall Building
	122 Leadenhall Street
	London
	EC3V 4AB
	United Kingdom

COMPANY NUMBER

10248926 (England and Wales)

AUDITOR	Praxis
	1 Poultry
	London
	EC2R 8EJ

	Note	2022		2021
		£		£
Current assets
Debtors	3	12,885		10,880
Cash at bank and in hand	4	37		67
		12,922		10,947
Creditors: amounts falling due within one year	5	( 9,599)		( 7,668)
Net current assets		3,323		3,279
Total assets less current liabilities		3,323		3,279
Net assets		3,323		3,279
Capital and reserves
Called-up share capital	6	100		100
Profit and loss account		3,223		3,179
Total shareholder's funds		3,323		3,279

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of RSHP1 Limited (registered number: 10248926) were approved and authorised for issue by the Board of Directors on 27 September 2023. They were signed on its behalf by:

I Birtles Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

RSHP1 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Level 14 The Leadenhall Building, 122 Leadenhall Street, London, EC3V 4AB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT. Turnover represents the value of costs incurred and recharged together with a fixed profit margin to group entities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Debtors

	2022		2021
	£		£
Amounts owed by Group undertakings	12,885		4,957
Amounts owed by connected persons	0		5,923
	12,885		10,880

4. Cash and cash equivalents

	2022		2021
	£		£
Cash at bank and in hand	37		67

5. Creditors: amounts falling due within one year

	2022		2021
	£		£
Amounts owed to Group undertakings	6,600		7,668
Taxation and social security	2,999		0
	9,599		7,668

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group undertakings and connected persons are repayable on demand and do not bear interest.

6. Called-up share capital

	2022		2021
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

7. Related party transactions

Transactions with owners holding a participating interest in the entity

	2022		2021
	£		£
Amounts owed from an entity holding a participating interest in the Company	0		5,923

During the year loan repayments of £5,923 (2021: £100) were received.

8. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2022 was unqualified.

The audit report was signed by Christopher Blunn on behalf of Praxis.

9. Ultimate controlling party

The ultimate parent entity is RSHP Group Limited, a company registered in England and Wales. The parent entity of the smallest group which produces group financial statements is RSHP LLP, an LLP registered in England and Wales. The registered office of both entities is Level 14, The Leadenhall Building, 122 Leadenhall Street, London, EC3V 4AB, United Kingdom, .

Both entities produce group financial statements and copies of these can be obtained from Companies House, Crown Way, Cardiff.