Company Registration No. 08912525 (England and Wales)
RB5 Ltd
Unaudited accounts
for the year ended 28 February 2023
RB5 Ltd
Unaudited accounts
Contents
RB5 Ltd
Company Information
for the year ended 28 February 2023
Company Number
08912525 (England and Wales)
Registered Office
Unit 1B The Old Knows Factory
St. Anns Hill Road
Nottingham
NG3 4GN
England
Accountants
Embrace Accountants Ltd
37 St. Leonards Drive
Nottingham
NG8 2BB
RB5 Ltd
Statement of financial position
as at 28 February 2023
Tangible assets
23,681
29,582
Cash at bank and in hand
9,778
1,612
Creditors: amounts falling due within one year
(14,719)
(19,715)
Net current assets/(liabilities)
13,200
(1,303)
Total assets less current liabilities
36,882
28,280
Creditors: amounts falling due after more than one year
(21,167)
(24,167)
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
15,258
3,656
Shareholders' funds
15,259
3,657
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 October 2023 and were signed on its behalf by
Ricky Berry
Director
Company Registration No. 08912525
RB5 Ltd
Notes to the Accounts
for the year ended 28 February 2023
RB5 Ltd is a private company, limited by shares, registered in England and Wales, registration number 08912525. The registered office is Unit 1B The Old Knows Factory, St. Anns Hill Road, Nottingham, NG3 4GN, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Consolidated financial statements have not been prepared on the basis that the group qualifies as a small group as per the provisions outlined in s400 Companies Act 2006.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and
to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract
has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from
customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
RB5 Ltd
Notes to the Accounts
for the year ended 28 February 2023
Current tax
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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from
those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences
which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when
the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Fixtures & fittings
10-20% Straight Line
Computer equipment
33.33% Straight Line
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
RB5 Ltd
Notes to the Accounts
for the year ended 28 February 2023
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2022
25,602
18,026
1,236
44,864
Additions
1,702
298
-
2,000
At 28 February 2023
27,304
18,324
1,236
46,864
At 1 March 2022
10,297
3,749
1,236
15,282
Charge for the year
4,251
3,650
-
7,901
At 28 February 2023
14,548
7,399
1,236
23,183
At 28 February 2023
12,756
10,925
-
23,681
At 28 February 2022
15,305
14,277
-
29,582
5
Investments
Subsidiary undertakings
Valuation at 1 March 2022
1
Valuation at 28 February 2023
1
The Company holds 100% of the ordinary shares in its subsidiary undertakings, The Holistic Hub Nottingham Limited, at a carrying value of £1.
The Holistic Hub Nottingham Limited is registered in England and Wales at at Unit 1b The Old Knows Factory, St. Anns Hill Road, Nottingham, England, NG3 4GN and the principal activity is the provision of wellbeing services.
Amounts falling due within one year
Amounts due from group undertakings etc.
-
2,799
Accrued income and prepayments
2,491
2,045
RB5 Ltd
Notes to the Accounts
for the year ended 28 February 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
3,333
3,333
Trade creditors
1,187
3,437
Amounts owed to group undertakings and other participating interests
693
-
Taxes and social security
5,248
5,479
Other creditors
1,858
2,905
Loans from directors
-
3,212
8
Creditors: amounts falling due after more than one year
2023
2022
Aggregate of amounts that fall due for payment after five years
7,501
10,834
The £30,000 bank loan is a bounce back loan taken out as contingency funding during the pandemic and will be repaid with interest over the next 9 years starting from June 2021.
9
Transactions with related parties
The Company has taken advantage of the exemption under FRS 102 section 33 not to provide information on related party transactions with other wholly owned companies in the group. Amounts due from Group undertakings are unsecured, repayable on demand and do not bear interest.
Included within debtors is a loan of £9,107 (2022: £3,212 due to) due from R Berry, a director of the Company. The loan is unsecured, interest-free and repayable on demand.
Ricky Berry is the ultimate controlling party.
11
Average number of employees
During the year the average number of employees was 3 (2022: 3).