RDGL Investments Limited 31/08/2023 iXBRL

RDGL Investments Limited 31/08/2023 iXBRL

RDGL INVESTMENTS LIMITED - Company Information

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Company registration number: 12500255
RDGL Investments Limited
Unaudited filleted financial statements
for the year ended
31 August 2023
Prepared by:
THOMAS NOCK MARTIN LIMITED
CHARTERED ACCOUNTANTS
BRIERLEY HILL
RDGL Investments Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
RDGL Investments Limited
Directors and other information
Directors Graham Turner
Louise Turner (Appointed 23 October 2023)
Company number 12500255
Registered office 5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
Business address 25 Sandy Road
Norton
Stourbridge
West Midlands
DY8 3AJ
Accountants Thomas Nock Martin Limited
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
RDGL Investments Limited
Statement of financial position
31 August 2023
2023 2022
Note £ £ £ £
Fixed assets
Investments 4 459,664 464,527
_______ _______
459,664 464,527
Current assets
Cash at bank and in hand 8,932 10,130
_______ _______
8,932 10,130
Creditors: amounts falling due
within one year 5 ( 527,685) ( 492,475)
_______ _______
Net current liabilities ( 518,753) ( 482,345)
_______ _______
Net liabilities ( 59,089) ( 17,818)
_______ _______
Capital and reserves
Called up share capital 6 1 1
Profit and loss account ( 59,090) ( 17,819)
_______ _______
Shareholders deficit ( 59,089) ( 17,818)
_______ _______
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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 24 May 2024 , and are signed on behalf of the board by:
Graham Turner
Director
Company registration number: 12500255
RDGL Investments Limited
Notes to the financial statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 5 Hagley Court South, The Waterfront, Brierley Hill, West Midlands, DY5 1XE.
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
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the shareholder that they will continue to give financial support to the company for twelve months from the date of signing these financial statements.On this basis the director considers it appropriate to prepare the accounts 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 accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and trade creditors, other debtors and creditors.
4. Investments
Other investments other than loans Total
£ £
Cost
At 1 September 2022 464,527 464,527
Additions 296,736 296,736
Disposals ( 305,887) ( 305,887)
Fair value adjustment 4,288 4,288
_______ _______
At 31 August 2023 459,664 459,664
_______ _______
Impairment
At 1 September 2022 and 31 August 2023 - -
_______ _______
Carrying amount
At 31 August 2023 459,664 459,664
_______ _______
At 31 August 2022 464,527 464,527
_______ _______
5. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 1,770 2,250
Other creditors 525,915 490,225
_______ _______
527,685 492,475
_______ _______
6. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares shares of £ 1.00 each 1 1 1 1
_______ _______ _______ _______
7. Controlling party
RDGL Investment Holdings Limited, the ultimate parent company, controls the company by virtue of a controlling interest of 100% of the issued ordinary share capital.The registered office of RDGL Investment Holdings Limited is:5 Hagley Court SouthLevel StreetBrierley HillWest MidlandsDY5 1XEThe principal place of business of RDGL Investment Holdings Limited is:Unit 3 Peartree Lane Industrial EstatePeartree LaneDudleyWest MidlandsDY2 0QY