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COMPANY REGISTRATION NUMBER: 4977152
RFS72 Group Limited
Filleted Unaudited Abridged Financial Statements
30 April 2023
RFS72 Group Limited
Abridged Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
£
Current assets
Debtors
2,506
1,398
Investments
5
74,569,197
15,136,041
Cash at bank and in hand
6,618,489
73,574,102
-------------
-------------
81,190,192
88,711,541
Creditors: amounts falling due within one year
1,292,343
1,227,987
-------------
-------------
Net current assets
79,897,849
87,483,554
-------------
-------------
Total assets less current liabilities
79,897,849
87,483,554
-------------
-------------
Net assets
79,897,849
87,483,554
-------------
-------------
RFS72 Group Limited
Abridged Statement of Financial Position (continued)
30 April 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
300
300
Share premium account
2,499,900
2,499,900
Profit and loss account
77,397,649
84,983,354
-------------
-------------
Shareholders funds
79,897,849
87,483,554
-------------
-------------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 5 July 2023 , and are signed on behalf of the board by:
Mr J.H. Saunders
Director
Company registration number: 4977152
RFS72 Group Limited
Notes to the Abridged Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ashford House, 95 Dixons Green, Dudley, West Midlands.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Defined contribution plans
The company operates a defined contribution pensions scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 5 ).
5. Investments
2023
2022
£
£
BRI Investment
45,057,937
8,092,031
Rathbone Investments
7,044,010
Handlesbanken Investment Gilt
3,001,950
Handlesbanken Investment
6,500,000
Evelyn Investment
20,009,310
-------------
-------------
74,569,197
15,136,041
-------------
-------------
As at 30th April 2023, the valuation of investment were as follows:-
BRI Investment - £44,193,643
Handlesbanken Gilt Investment - £3,029,947
Handlesbanken Investment - £502,678
Evelyn Investment - £20,088,207