RCM CHARNWOOD LIMITED - Accounts

RCM CHARNWOOD LIMITED - Accounts

RCM CHARNWOOD LIMITED - Company Information

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Registered Number: 12337189
England and Wales

 

 

 

RCM CHARNWOOD LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

RCM CHARNWOOD LIMITED
Contents Page
For the year ended 31 December 2022
Directors Steven Mitchell
Jeremy Tucker
John Sheehan II
Registered Number 12337189
Registered Office 23a High Street
Welford
Northants
NN6 6HT
Accountants Beagle Accounting Limited
23a High Street
Welford
Northants
NN6 6HT
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 December 2022
Directors

The directors who served the company throughout the year were as follows:
John Saunders (from 27/11/2019 to 24/08/2023)



Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • 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 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. The directors 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Steven Mitchell
Director

Date approved: 18 December 2023
2
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of RCM CHARNWOOD LIMITED for the year ended 2022 which comprise of the Profit and Loss Account and the Balance Sheet from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at


This report is made solely to the Board of Directors of RCM CHARNWOOD LIMITED, as a body, in accordance with the terms of our engagement letter dated 17th September 2023. Our work has been undertaken solely to prepare for your approval the accounts of RCM CHARNWOOD LIMITED and state those matters that we have agreed to state to the Board of Directors of RCM CHARNWOOD LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RCM CHARNWOOD LIMITED and its Board of Directors as a body for our work or for this report.


It is your duty to ensure that RCM CHARNWOOD LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of RCM CHARNWOOD LIMITED. You consider that RCM CHARNWOOD LIMITED is exempt from the statutory audit requirement for the year.


We have not been instructed to carry out an audit or a review of the accounts of RCM CHARNWOOD LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.





....................................................
Beagle Accounting Limited
23a High Street
Welford
Northants
NN6 6HT
18 December 2023
3
 
 		 Notes
 		 2022
£		   2021
£
Gross profit 0    0 
Administrative expenses (64,083)   (38,265)
Operating loss (64,083)   (38,265)
Exceptional items (2,626,479)   0 
Profit/(Loss) on ordinary activities before taxation (2,690,562)   (38,265)
Tax on profit on ordinary activities 0    0 
Profit/(Loss) for the financial year (2,690,562)   (38,265)
 
4
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Tangible fixed assets 3 1,500,000    3,813,800 
1,500,000    3,813,800 
Current assets      
Creditors: amount falling due within one year 4 (4,239,046)   (3,862,284)
Net current liabilities (4,239,046)   (3,862,284)
 
Total assets less current liabilities (2,739,046)   (48,484)
Net liabilities (2,739,046)   (48,484)
 

Capital and reserves 		     
Called up share capital 5 1    1 
Profit and loss account (2,739,047)   (48,485)
Shareholder's funds (2,739,046)   (48,484)
 


For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 December 2023 and were signed on its behalf by:


-------------------------------
Steven Mitchell
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 January 2021 1  (10,220) (10,219)
Profit for the year (38,265) (38,265)
Total comprehensive income for the year -  (38,265) (38,265)
Total investments by and distributions to owners -  -  - 
At 31 December 2021 1  (48,485) (48,484)
At 01 January 2022 1  (48,485) (48,484)
Profit for the year (2,690,562) (2,690,562)
Total comprehensive income for the year -  (2,690,562) (2,690,562)
Total investments by and distributions to owners -  -  - 
At 31 December 2022 1  (2,739,047) (2,739,046)
6
General Information
RCM CHARNWOOD LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12337189, registration address 23a High Street, Welford , Northants, NN6 6HT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the parent company that it will continue to give financial support to the company for a period of at least twelve months from the date of signing these financial statements.
On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's financial statements may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amounts and to provide for any further liabilities which might be necessary should the basis not continue to be appropriate.
Investment properties
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of income and retained earnings.
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
2.

Average number of employees

Average number of employees during the year was 0 (2021 : 0).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 January 2022 3,813,800    3,813,800 
Additions 312,679    312,679 
Disposals -    - 
Revaluations (2,626,479)   (2,626,479)
At 31 December 2022 1,500,000    1,500,000 
Depreciation
At 01 January 2022 -    - 
Charge for year -    - 
On disposals -    - 
At 31 December 2022 -    - 
Net book values
Closing balance as at 31 December 2022 1,500,000    1,500,000 
Opening balance as at 01 January 2022 3,813,800    3,813,800 


4.

Creditors: amount falling due within one year

2022
£		   2021
£
Trade Creditors 11,424    4,239 
Amounts Owed to Group Undertakings 4,210,801    3,853,400 
Accrued Expenses 16,821    4,645 
Other Creditors 0    0 
4,239,046    3,862,284 

5.

Share Capital

Allotted, called up and fully paid
2022
£		   2021
£
1 Class A share of £1.00 each 1    1 
1    1 

7