Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-312022-01-12falseNo description of principal activity10truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13843520 2022-01-11 13843520 2022-01-12 2023-01-31 13843520 1900-03-01 2022-01-11 13843520 2023-01-31 13843520 c:Director1 2022-01-12 2023-01-31 13843520 d:FurnitureFittings 2022-01-12 2023-01-31 13843520 d:FurnitureFittings 2023-01-31 13843520 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-12 2023-01-31 13843520 d:CurrentFinancialInstruments 2023-01-31 13843520 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13843520 d:ShareCapital 2022-01-12 2023-01-31 13843520 d:ShareCapital 2023-01-31 13843520 d:RetainedEarningsAccumulatedLosses 2022-01-12 2023-01-31 13843520 d:RetainedEarningsAccumulatedLosses 2023-01-31 13843520 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 13843520 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 13843520 c:FRS102 2022-01-12 2023-01-31 13843520 c:AuditExempt-NoAccountantsReport 2022-01-12 2023-01-31 13843520 c:FullAccounts 2022-01-12 2023-01-31 13843520 c:PrivateLimitedCompanyLtd 2022-01-12 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 13843520










RIGHT VENUES GROUP LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JANUARY 2023

 
RIGHT VENUES GROUP LIMITED
REGISTERED NUMBER: 13843520

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
Note
£

Fixed assets
  

Tangible assets
 4 
1,734

  
1,734

Current assets
  

Debtors: amounts falling due within one year
 5 
19,314

Cash at bank and in hand
 6 
30,281

  
49,595

Creditors: amounts falling due within one year
 7 
(20,426)

Net current assets
  
 
 
29,169

Total assets less current liabilities
  
30,903

Provisions for liabilities
  

Deferred tax
  
(329)

  
 
 
(329)

Net assets
  
30,574


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
30,573

  
30,574


Page 1

 
RIGHT VENUES GROUP LIMITED
REGISTERED NUMBER: 13843520

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 September 2023.




E. Ackland
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
RIGHT VENUES GROUP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JANUARY 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Profit for the period

-
30,573
30,573


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
30,573
30,573


Contributions by and distributions to owners

Shares issued during the period
1
-
1


Total transactions with owners
1
-
1


At 31 January 2023
1
30,573
30,574

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
RIGHT VENUES GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

1.


General information

Right Venues Group Limited is a company limited by shares and was incorporated in Wales.
The registered office is:-
15 St. Michaels Road
Hyde
SK14 2SX
The registered number is 13843520

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
RIGHT VENUES GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
RIGHT VENUES GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Page 6

 
RIGHT VENUES GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as
Page 7

 
RIGHT VENUES GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

with a documented risk management or investment strategy.


3.


Employees

The average monthly number of employees, including the director, during the period was as follows:


        2023
            No.






Director
1


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


Additions
2,130



At 31 January 2023

2,130



Depreciation


Charge for the period on owned assets
396



At 31 January 2023

396



Net book value



At 31 January 2023
1,734


5.


Debtors

2023
£


Trade debtors
19,314

19,314


Page 8

 
RIGHT VENUES GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023

6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
30,281

30,281



7.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
1,140

Corporation tax
6,794

Other creditors
12,492

20,426



8.


Financial instruments

2023
£

Financial assets


Financial assets measured at fair value through profit or loss
30,281




Financial assets measured at fair value through profit or loss comprise cash at bank.


9.


Deferred taxation



2023


£






Charged to profit or loss
329



At end of year
329

Page 9

 
RIGHT VENUES GROUP LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023
 
9.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2023
£


Accelerated capital allowances
329

329


10.


Related party transactions

During the year the company entered into transactions with E. Ackland:
Event management fees (purchases) £4,350
Rent £4,056


Page 10