Company Registration No. 01626768 (England and Wales)
RBG Commercial Limited
Unaudited accounts
for the year ended 31 December 2022
RBG Commercial Limited
Unaudited accounts
Contents
RBG Commercial Limited
Company Information
for the year ended 31 December 2022
Directors
John Paul Kane
Tracey Waterman
Company Number
01626768 (England and Wales)
Registered Office
31 Bone Lane
Newbury
RG14 5SH
United Kingdom
Accountants
striveX Ltd
Beacon House
Ibstone Road
Stokenchurch
Buckinghamshire
HP14 3FE
RBG Commercial Limited
Statement of financial position
as at 31 December 2022
Investment property
7,528,705
7,000,000
Cash at bank and in hand
231,025
504,249
Creditors: amounts falling due within one year
(5,235,723)
(3,720,725)
Net current liabilities
(2,477,262)
(2,307,726)
Total assets less current liabilities
5,051,443
4,692,274
Provisions for liabilities
Deferred tax
(868,207)
(669,183)
Net assets
4,183,236
4,023,091
Called up share capital
1,000,100
1,000,100
Profit and loss account
3,183,136
3,022,991
Shareholders' funds
4,183,236
4,023,091
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by
Tracey Waterman
Director
Company Registration No. 01626768
RBG Commercial Limited
Notes to the Accounts
for the year ended 31 December 2022
RBG Commercial Limited is a private company, limited by shares, registered in England and Wales, registration number 01626768. The registered office is 31 Bone Lane, Newbury, RG14 5SH, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investment property is not depreciated.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Turnover represents amounts receivable for rents and service charges.
The company recognises revenue when:
- The amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
RBG Commercial Limited
Notes to the Accounts
for the year ended 31 December 2022
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Fair value at 1 January 2022
7,000,000
At 31 December 2022
7,528,705
Amounts falling due within one year
Amounts due from group undertakings etc.
2,415,357
840,317
Accrued income and prepayments
12,041
518
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
3,637
407,861
Taxes and social security
391
-
Loans from directors
5,229,695
3,312,139
Allotted, called up and fully paid:
1,000,100 Ordinary shares of £1 each
1,000,100
1,000,100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
During the year the director, Tracey Waterman was loaned £1,159. This loan is interest free, unsecured and has no set repayment terms.
RBG Commercial Limited
Notes to the Accounts
for the year ended 31 December 2022
9
Transactions with related parties
During the year the company gave services to Cars Coffee Cake Ltd, a company under common control. Services provided totalled £69,283 (2021: £151,212). Amounts receivable from Cars Coffee Cake Ltd at the period end totalled £220,654 (2021: £151,263).
During the year the company gave services to UK Roasters Limited, a company under common control. Services provided totalled £70,660 (2021: £98,860). Amounts receivable from UK Roasters Limited at the period end totalled £169,571 (2021: £98,911).
During the year the company gave services to Group SAS UK Limited, a company under common control. Services given totalled £304,416 (2021: £336,033). Amounts receivable from Group SAS UK Limited at the period end totalled £652,815 (2021: £348,399).
During the year the company gave services to TWR Performance Ltd, a company under common control. Services given totalled £514,418 (2021: £241,380). Amounts receivable from TWR Performance Ltd at the period end totalled £755,797 (2021: £241,380).
During the year the company gave services to Podium Place Limited, a company under common control. Services received totalled £371,305 (2021: £321). Amounts receivable from Podium Place Limited at the period end totalled £371,626 (2021 £321).
During the year the company gave services to Podium Detailing Ltd, a company under common control. Services given totalled £244,959 (2021: £43). Amounts receivable from Podium Detailing Ltd at the period end totalled £245,002 (2021: £43).
During the year the loan to the director John Paul Kane increased by £1,917,537 (2021: reduced by £88,840). The total amount of £5,229,695 (2021: £3,134,460) remained re-payable at the period-end.
10
Average number of employees
During the year the average number of employees was 2 (2021: 2).
