RHS SPECIAL EVENTS LIMITED

Company Registration Number:
03119017 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2023

Period of accounts

Start date: 1 February 2022

End date: 31 January 2023

RHS SPECIAL EVENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

RHS SPECIAL EVENTS LIMITED

Directors' report period ended 31 January 2023

The directors present their report with the financial statements of the company for the period ended 31 January 2023

Principal activities of the company

The Company organises gala events for fundraising purposes at the RHS Chelsea Flower Show and RHS Hampton Court Palace Garden Festival. RHS Chelsea Flower Show returned to its usual May timing and once again the Gala event was a sell out and hugely successful. A new concept event was tested for the first time at RHS Hampton Court Palace Garden Festival with mixed success.



Directors

The director shown below has held office during the whole of the period from
1 February 2022 to 31 January 2023

Mr K Weed


The director shown below has held office during the period of
1 February 2022 to 14 June 2022

Ms S Biggs


The director shown below has held office during the period of
14 June 2022 to 31 January 2023

Ms C Matterson


Secretary Mrs Stacey Bailey

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
27 April 2023

And signed on behalf of the board by:
Name: Mrs Stacey Bailey
Status: Secretary

RHS SPECIAL EVENTS LIMITED

Profit And Loss Account

for the Period Ended 31 January 2023

2023 2022


£

£
Turnover: 4,383,000 4,561,000
Cost of sales: ( 1,141,000 ) ( 1,299,000 )
Gross profit(or loss): 3,242,000 3,262,000
Distribution costs: 0 0
Administrative expenses: ( 180,000 ) ( 195,000 )
Other operating income: 0 0
Operating profit(or loss): 3,062,000 3,067,000
Interest receivable and similar income: 61,000 74,000
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 3,123,000 3,141,000
Tax: ( 593,000 ) ( 570,000 )
Profit(or loss) for the financial year: 2,530,000 2,571,000

RHS SPECIAL EVENTS LIMITED

Balance sheet

As at 31 January 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 3,343,000 3,840,000
Cash at bank and in hand: 1,152,000 1,028,000
Total current assets: 4,495,000 4,868,000
Creditors: amounts falling due within one year: 4 ( 4,506,000 ) ( 4,879,000 )
Net current assets (liabilities): (11,000) (11,000)
Total assets less current liabilities: (11,000) ( 11,000)
Total net assets (liabilities): (11,000) (11,000)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (11,100 ) (11,100 )
Total Shareholders' funds: ( 11,000 ) (11,000)

The notes form part of these financial statements

RHS SPECIAL EVENTS LIMITED

Balance sheet statements

For the year ending 31 January 2023 the company was entitled to exemption 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 directors acknowledge their 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.

This report was approved by the board of directors on 27 April 2023
and signed on behalf of the board by:

Name: Ms C Matterson
Status: Director

The notes form part of these financial statements

RHS SPECIAL EVENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Turnover policy

    Turnover is measured at the fair value of consideration, net of discounts and value added taxes. Turnover includes revenue earned from fundraising activities at the RHS Chelsea Flower Show and the RHS Hampton Court Palace Flower Show. Turnover from fundraising activities is recognised at the date of the event.

    Other accounting policies

    Payment to parent under Gift AidThe Company has adopted a policy of paying all its taxable profits to its parent charity, The Royal Horticultural Society under Gift Aid. These gift aid payments are recognised as distributions through equity rather than as an expense through the profit and loss, and therefore an operating profit exists at the balance sheet date, on which a tax liability arises. A Deed of Covenant exists between the Company and its parent charity, The Royal Horticultural Society. This creates a legally binding obligation for the company to pay any profit before taxation to its parent and as such this amount has been included as a distribution in the Statement of Changes in Equity.

RHS SPECIAL EVENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 4 3

RHS SPECIAL EVENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

3. Debtors

2023 2022
£ £
Trade debtors 21,000 340,000
Prepayments and accrued income 1,000 0
Other debtors 3,321,000 3,500,000
Total 3,343,000 3,840,000
Debtors due after more than one year: 0 0

No impairment loss was recognised against trade debtors for 2023 (2022; £nil)In 2018 an intercompany loan agreement commenced between The Royal Horticultural Society and RHS Special Events Limited. The loan is repayable on demand and interest is charged at 2% above the Bank of England base rate. As at 31 January 2023 the loan amount balance was £3m (2022: £3.5m).

RHS SPECIAL EVENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 0 22,000
Accruals and deferred income 4,506,000 4,313,000
Other creditors 0 544,000
Total 4,506,000 4,879,000