Company No:
Contents
DIRECTORS | Ian Birtles |
Edward Lennart Grut | |
Ivan William Harbour |
REGISTERED OFFICE | Level 14 The Leadenhall Building |
122 Leadenhall Street | |
London | |
EC3V 4AB | |
England | |
United Kingdom |
COMPANY NUMBER | 07175524 (England and Wales) |
AUDITOR | Praxis |
1 Poultry | |
London | |
EC2R 8EJ |
Note | 2020 | 2019 | ||
£ | £ | |||
Current assets | ||||
Debtors | 3 |
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Cash at bank and in hand | 4 |
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245,797 | 147,719 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
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Net current assets | 46,585 | 37,498 | ||
Total assets less current liabilities | 46,585 | 37,498 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account |
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Total shareholder's funds |
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The financial statements of RSHP Barangaroo Limited (registered number:
Ian Birtles
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.
RSHP Barangaroo 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, England, 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.
The functional currency of RSHP Barangaroo Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
The Company is dependent on the Parent LLP for all of its income. The Parent LLP's forecasts and projections, taking account of the continued possible impact of COVID-19 on trading performance, show that the Parent LLP and it's subsidiaries are able to operate within the level of their current facilities.
Therefore, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Exchange differences are recognised in the Profit and Loss Account 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.
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.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
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.
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.
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.
2020 | 2019 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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2020 | 2019 | ||
£ | £ | ||
Amounts owed by Group undertakings |
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Other debtors |
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2020 | 2019 | ||
£ | £ | ||
Cash at bank and in hand |
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2020 | 2019 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Amounts owed to connected persons |
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Other creditors |
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Corporation tax |
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Amounts owed to Group undertakings are repayable on demand and do not bear interest.
2020 | 2019 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with owners holding a participating interest in the entity
2020 | 2019 | ||
£ | £ | ||
Sales to an entity holding a participating interest in the Company | 0 | 36,927 | |
Amounts owed from an entity holding a participating interest in the Company | 87,076 | 87,076 |
The audit report was signed by Christopher Blunn on behalf of Praxis.
Both entities produce group accounts and copies of these can be obtained from Companies House, Crown Way, Cardiff.