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REGISTERED NUMBER: 02568599 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 January 2023

for

RICHARD JAMES INTERNATIONAL LIMITED

RICHARD JAMES INTERNATIONAL LIMITED (REGISTERED NUMBER: 02568599)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RICHARD JAMES INTERNATIONAL LIMITED

Company Information
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: R James
B Wickenden
A James
G Wickenden





SECRETARY: B Wickenden





REGISTERED OFFICE: Bath House
6-8 Bath Street
Redcliffe
Bristol
BS1 6HL





REGISTERED NUMBER: 02568599 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
Bath House
6 - 8 Bath Street
Bristol
BS1 6HL

RICHARD JAMES INTERNATIONAL LIMITED (REGISTERED NUMBER: 02568599)

Balance Sheet
31 JANUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 249,813 257,167
Investments 5 51 51
249,864 257,218

CURRENT ASSETS
Stocks 19,251 15,350
Debtors 6 1,404,883 1,647,877
Cash at bank and in hand 206,649 222,659
1,630,783 1,885,886
CREDITORS
Amounts falling due within one year 7 (467,144 ) (736,398 )
NET CURRENT ASSETS 1,163,639 1,149,488
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,413,503

1,406,706

CREDITORS
Amounts falling due after more than one
year

8

(84,689

)

(130,576

)

PROVISIONS FOR LIABILITIES 11 (13,817 ) (15,347 )
NET ASSETS 1,314,997 1,260,783

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 1,314,897 1,260,683
SHAREHOLDERS' FUNDS 1,314,997 1,260,783

RICHARD JAMES INTERNATIONAL LIMITED (REGISTERED NUMBER: 02568599)

Balance Sheet - continued
31 JANUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by:





R James - Director


RICHARD JAMES INTERNATIONAL LIMITED (REGISTERED NUMBER: 02568599)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2023


1. COMPANY INFORMATION

Richard James International Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal activity of the company in the year under review was that of sourcing and procuring specialists and export.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. On this basis, the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year ended 31 January 2023 and derives from the provision of goods and services falling within the company's ordinary activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Not depreciated
Plant and machinery - 25% on reducing balance and 10% on reducing balance
Fixtures, fittings and equipment - 25% on reducing balance
Computer equipment - 33% on cost

Government grants
Government Grants received include monies received in relation to the Coronavirus Job Retention Scheme.

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

RICHARD JAMES INTERNATIONAL LIMITED (REGISTERED NUMBER: 02568599)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2023


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

RICHARD JAMES INTERNATIONAL LIMITED (REGISTERED NUMBER: 02568599)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold Plant and and Computer
property machinery equipment equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 176,393 175,224 16,893 23,955 392,465
Additions - 747 - 6,100 6,847
At 31 January 2023 176,393 175,971 16,893 30,055 399,312
DEPRECIATION
At 1 February 2022 - 100,819 14,800 19,679 135,298
Charge for year - 10,476 538 3,187 14,201
At 31 January 2023 - 111,295 15,338 22,866 149,499
NET BOOK VALUE
At 31 January 2023 176,393 64,676 1,555 7,189 249,813
At 31 January 2022 176,393 74,405 2,093 4,276 257,167

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2022
and 31 January 2023 51
NET BOOK VALUE
At 31 January 2023 51
At 31 January 2022 51

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,269,962 1,509,047
Other debtors 4,500 6,783
VAT 118,654 117,700
Prepayments 11,767 14,347
1,404,883 1,647,877

RICHARD JAMES INTERNATIONAL LIMITED (REGISTERED NUMBER: 02568599)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 40,508 154,803
Trade creditors 324,208 431,632
Amounts owed to group undertakings 43 30,009
Tax 3,711 17,168
Social security and other taxes 6,607 6,371
Other creditors 83,665 90,473
Directors' current accounts 646 646
Accruals and deferred income 7,756 5,296
467,144 736,398

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 30,683 13,537
Bank loans - 2-5 years 54,006 43,349
Bank loans more 5 yr by instal - 73,690
84,689 130,576

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 73,690

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 32,500
Between one and five years - 29,792
- 62,292

RICHARD JAMES INTERNATIONAL LIMITED (REGISTERED NUMBER: 02568599)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 11,562 141,723
Bank loans 113,635 143,656
125,197 285,379

The bank overdraft is secured by a fixed and floating charge over all of the company's assets together with a composite guarantee by Richard James (Holdings) Limited in favour of the company's bankers.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 13,817 15,347

Deferred
tax
£   
Balance at 1 February 2022 15,347
Provided during year (1,530 )
Balance at 31 January 2023 13,817

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

13. RELATED PARTY DISCLOSURES

During the year the company was charged £138,000 (2022 - £138,000) by its parent company, Richard James (Holdings) Limited in relation to management charges. At the year end the company owed £43 (2022 - £30,009) to Richard James (Holdings) Limited in relation to an interest free loan.