TB Richardson Limited - Period Ending 2023-03-31
TB Richardson Limited - Period Ending 2023-03-31
Registration number:
TB Richardson Limited
for the Year Ended 31 March 2023
TB Richardson Limited
Contents
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Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
TB Richardson Limited
Company Information
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Directors |
Mr T C Richardson Mrs S B Richardson |
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Registered office |
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Accountants |
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TB Richardson Limited
Directors' Report for the Year Ended 31 March 2023
The directors present their report and the financial statements for the year ended 31 March 2023.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is management consultancy services
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
TB Richardson Limited
for the Year Ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of TB Richardson Limited for the year ended 31 March 2023 as set out on pages 4 to 15 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of TB Richardson Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of TB Richardson Limited and state those matters that we have agreed to state to the Board of Directors of TB Richardson Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TB Richardson Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that TB Richardson 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 profit of TB Richardson Limited. You consider that TB Richardson 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 TB Richardson 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.
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Polegate
East Sussex
BN26 5LX
TB Richardson Limited
Profit and Loss Account for the Year Ended 31 March 2023
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Note |
2023 |
2022 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
10,064 |
11,814 |
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Gain on financial assets at fair value through profit and loss |
- |
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Other interest receivable and similar income |
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24 |
6,971 |
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Profit before tax |
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Tax on profit |
( |
- |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
TB Richardson Limited
Statement of Comprehensive Income for the Year Ended 31 March 2023
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2023 |
2022 |
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Profit for the year |
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Total comprehensive income for the year |
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TB Richardson Limited
(Registration number: 04413091)
Balance Sheet as at 31 March 2023
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Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Other financial assets |
716,871 |
796,871 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
20 |
20 |
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Retained earnings |
1,477,327 |
1,542,367 |
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Shareholders' funds |
1,477,347 |
1,542,387 |
For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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TB Richardson Limited
Statement of Changes in Equity for the Year Ended 31 March 2023
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Share capital |
Retained earnings |
Total |
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At 1 April 2022 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 March 2023 |
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Share capital |
Retained earnings |
Total |
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At 1 April 2021 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 March 2022 |
20 |
1,542,367 |
1,542,387 |
TB Richardson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
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.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
TB Richardson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Motor vehicles |
25% reducing balance |
Investment property
determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any
differen
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their
useful life as follows:
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Asset class |
Amortisation method and rate |
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Trademarks |
25% reducing balance |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially
measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are
not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method.
Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
TB Richardson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Profit before tax |
Arrived at after charging/(crediting)
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2023 |
2022 |
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Depreciation expense |
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TB Richardson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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Intangible assets |
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Trademarks, patents and licenses |
Total |
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Cost or valuation |
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At 1 April 2022 |
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At 31 March 2023 |
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Amortisation |
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At 1 April 2022 |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
- |
- |
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Tangible assets |
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Land and buildings |
Fixtures and fittings |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 April 2022 |
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Additions |
- |
- |
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At 31 March 2023 |
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Depreciation |
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At 1 April 2022 |
- |
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Charge for the year |
- |
- |
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At 31 March 2023 |
- |
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Carrying amount |
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At 31 March 2023 |
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- |
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At 31 March 2022 |
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- |
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Included within the net book value of land and buildings above is £53,963 (2022 - £53,963) in respect of freehold land and buildings.
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Investment properties |
TB Richardson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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2023 |
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At 1 April |
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At 31 March |
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There has been no valuation of investment property by an independent valuer.
Carrying amount of investment property rented to another group entity
The carrying amount of investment property rented to another group entity was
£
TB Richardson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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Other financial assets (current and non-current) |
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Financial assets at fair value through profit and loss |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2022 |
716,871 |
716,871 |
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At 31 March 2023 |
716,871 |
716,871 |
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Impairment |
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Carrying amount |
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At 31 March 2023 |
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716,871 |
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Debtors |
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Current |
2023 |
2022 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2023 |
2022 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
TB Richardson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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10 |
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10 |
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10 |
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10 |
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Dividends |
Interim dividends paid
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2023 |
2022 |
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Interim dividend of £ |
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Related party transactions |
TB Richardson Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Directors' remuneration
The directors' remuneration for the year was as follows:
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2023 |
2022 |
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Remuneration |
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Financial instruments |
Categorisation of financial instruments
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2023 |
2022 |
Financial assets measured at fair value
Financial assets at fair value
publicly traded investments are measured at market value.
Investments in equity shares which are
not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
The fair value is £716,871 (2022 - £796,871) and the change in value included in profit or loss is £(80,000) (2022 - £22,486).
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Parent and ultimate parent undertaking |
The company's immediate parent is