RFV Retail Limited 13499386 false 2022-08-01 2023-03-31 2023-03-31 The principal activity of the company is electronic cigarette sales. Digita Accounts Production Advanced 6.30.9574.0 true 13499386 2022-08-01 2023-03-31 13499386 2023-03-31 13499386 core:RetainedEarningsAccumulatedLosses 2023-03-31 13499386 core:ShareCapital 2023-03-31 13499386 core:CurrentFinancialInstruments 2023-03-31 13499386 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13499386 bus:SmallEntities 2022-08-01 2023-03-31 13499386 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-03-31 13499386 bus:AbridgedAccounts 2022-08-01 2023-03-31 13499386 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-03-31 13499386 bus:RegisteredOffice 2022-08-01 2023-03-31 13499386 bus:Director1 2022-08-01 2023-03-31 13499386 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-03-31 13499386 countries:EnglandWales 2022-08-01 2023-03-31 13499386 2022-07-31 13499386 2021-07-07 2022-07-31 13499386 2022-07-31 13499386 core:RetainedEarningsAccumulatedLosses 2022-07-31 13499386 core:ShareCapital 2022-07-31 13499386 core:CurrentFinancialInstruments 2022-07-31 13499386 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 13499386

RFV Retail Limited

Unaudited Filleted Abridged Financial Statements

for the Period from 1 August 2022 to 31 March 2023

Pages for filing with Registrar

 

RFV Retail Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

RFV Retail Limited

Company Information

Director

Mr F Ferdowsian

Registered office

Meadowcroft Business Park
Pope Lane, Whitestake
Preston
Lancashire
PR4 4AZ

 

RFV Retail Limited

(Registration number: 13499386)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

183,841

182,057

Current assets

 

Stocks

47,263

49,629

Debtors

2,323

3,443

Cash at bank and in hand

 

77,850

63,536

 

127,436

116,608

Prepayments and accrued income

 

2,171

1,135

Creditors: Amounts falling due within one year

(234,992)

(261,066)

Net current liabilities

 

(105,385)

(143,323)

Total assets less current liabilities

 

78,456

38,734

Accruals and deferred income

 

(2,937)

(2,916)

Net assets

 

75,519

35,818

Capital and reserves

 

Called up share capital

1

1

Retained earnings

75,518

35,817

Shareholders' funds

 

75,519

35,818

 

RFV Retail Limited

(Registration number: 13499386)
Abridged Balance Sheet as at 31 March 2023 (continued)

For the financial period ending 31 March 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 October 2023
 

.........................................
Mr F Ferdowsian
Director

 

RFV Retail Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 August 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Meadowcroft Business Park
Pope Lane, Whitestake
Preston
Lancashire
PR4 4AZ
England

The principal place of business is:
37 Hough Lane
Leyland
Lancashire
PR25 2SB

These financial statements were authorised for issue by the director on 25 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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 £.

 

RFV Retail Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 August 2022 to 31 March 2023 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

RFV Retail Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 August 2022 to 31 March 2023 (continued)

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

RFV Retail Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 August 2022 to 31 March 2023 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
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 in the Company’s statement of financial position 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 liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 4 (2022 - 4).

 

RFV Retail Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 August 2022 to 31 March 2023 (continued)

4

Tangible assets

Total
£

Cost or valuation

At 1 August 2022

182,057

Additions

2,000

At 31 March 2023

184,057

Depreciation

Charge for the period

216

At 31 March 2023

216

Carrying amount

At 31 March 2023

183,841

At 31 July 2022

182,057

Included within the net book value of land and buildings above is £182,057 (2022 - £182,057) in respect of freehold land and buildings.