Registered number
10014351
HEADFORD RPO LIMITED
Filleted Accounts
31 December 2022
HEADFORD RPO LIMITED
Registered number: 10014351
Balance Sheet
as at 31 December 2022
Restated
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 3,305 4,878
Current assets
Debtors 4 156,902 60,604
Cash at bank and in hand 3,080 13,343
159,982 73,947
Creditors: amounts falling due within one year 5 (516,707) (436,304)
#NAME? (356,725) (362,357)
#NAME? (353,420) (357,479)
Capital and reserves
Called up share capital 1 1
Profit and loss account (353,421) (357,480)
Shareholder's funds (353,420) (357,479)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Headford
Director
Approved by the board on 29 September 2023
HEADFORD RPO LIMITED
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer & Office equipment 10% and 15% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 5 7
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 11,603
At 31 December 2022 11,603
Depreciation
At 1 January 2022 6,725
Charge for the year 1,573
At 31 December 2022 8,298
Net book value
At 31 December 2022 3,305
At 31 December 2021 4,878
4 Debtors 2022 2021
£ £
Trade debtors 16,618 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 20,436 20,436
Directors' loan account 33,431 33,434
Deferred tax asset 77,191 -
Other debtors 9,226 6,734
156,902 60,604
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 14,776 15,520
Amounts owed to group undertakings and undertakings in which the company has a participating interest 287,687 130,937
Taxation and social security costs 214,124 282,799
Other creditors 120 7,048
516,707 436,304
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
C Headford
Directors' loan account - this loan is interest free and is repayable on demand. 33,434 - (3) 33,431
33,434 - (3) 33,431
7 Other information
HEADFORD RPO LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 8, Apex Court
Bradley Stoke
Bristol
BS32 4JT
8 Going Concern
The financial statements have been prepared on a going concern basis, the applicability of which is dependant upon the continued support of the company's creditors and financiers.
At the balance sheet date, the company's liabilities exceeded its' assets by £353,419.
In the opinion of the Director, the company has the support of its' creditors and financiers for the foreseeable future and it is therefore appropriate to adopt the going concern policy.
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