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Company No: 03538434 (England and Wales)

RSR (HOLDINGS) LTD

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

RSR (HOLDINGS) LTD

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

RSR (HOLDINGS) LTD

BALANCE SHEET

As at 31 March 2023
RSR (HOLDINGS) LTD

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 324,887 255,842
Investments 1,002 1,002
325,889 256,844
Current assets
Debtors 5 622,059 422,231
Cash at bank and in hand 12,210 7,453
634,269 429,684
Creditors: amounts falling due within one year 6 ( 356,326) ( 559,987)
Net current assets/(liabilities) 277,943 (130,303)
Total assets less current liabilities 603,832 126,541
Creditors: amounts falling due after more than one year ( 85,966) ( 20,461)
Provision for liabilities 7 ( 2,541) ( 1,931)
Net assets 515,325 104,149
Capital and reserves
Called-up share capital 8 100 100
Revaluation reserve 91,494 91,494
Profit and loss account 423,731 12,555
Total shareholders' funds 515,325 104,149

For the financial year 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 financial statements of RSR (Holdings) LTD (registered number: 03538434) were approved and authorised for issue by the Director. They were signed on its behalf by:

Paul Stunt
Director

03 November 2023

RSR (HOLDINGS) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
RSR (HOLDINGS) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

RSR (Holdings) LTD (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 189 Ringwood Road, Verwood, BH31 7AG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

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.

2.Transition to FRS102

The Company has adopted FRS 102 for the year ended 31 March 2023 and has restated the comparative year amounts.

Reconciliation of equity

01.04.2021 31.03.2022
£ £
Capital and reserves (as previously stated) 129,859 2,396
Property revaluation 91,494 91,494
Deferred tax 5,914 7,300
Depreciation previously charged on property 0 2,959
Capital and reserves (as restated) 227,267 104,149

Reconciliation of profit or loss

31.03.2022
£
Profit for the year (as previously stated) 127,482
Depreciation previously charged on property 2,959
Deferred tax 1,386
Profit for the year (as restated) 131,827

Reconciliations and descriptions of the effect of the transition to FRS 102 on (i) equity at the date of transition to FRS102; (ii) equity at the end of the comparative period; and (iii) profit or loss for the comparative period reported under previous UK GAPP are given below.

The recognition of a deferred tax asset of £5,914 and the movement in asset values after adopting the revaluation method for property as opposed to the cost less depreciation method of £91,494 for the year ended 31 March 2021 has increased the previously stated equity at 1 April 2021 by £97,408 from £129,859 to £227,267.

The recognition of a deferred tax asset of £1,386 and the removal of depreciation on property of £2,959 for the year ended 31 March 2022 have increased the previously stated profit by £4,345. These adjustments have in turn increased the closing equity at that date by £4,345 from £99,804 (after taking into account the effect of the transition to FRS102 on the equity at the date of transition) to £104,149.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost/Valuation
At 01 April 2022 200,000 161,731 361,731
Additions 0 114,403 114,403
Disposals 0 ( 104,877) ( 104,877)
At 31 March 2023 200,000 171,257 371,257
Accumulated depreciation
At 01 April 2022 0 105,889 105,889
Charge for the financial year 0 12,012 12,012
Disposals 0 ( 71,531) ( 71,531)
At 31 March 2023 0 46,370 46,370
Net book value
At 31 March 2023 200,000 124,887 324,887
At 31 March 2022 200,000 55,842 255,842

Revaluation of tangible assets

The fair value of land and buildings have been arrived at on the basis of valuation carried out by the Director on an open market value for existing use basis by reference to market evidence of transactions prices for similar properties.

5. Debtors

2023 2022
£ £
Deferred tax asset 10,059 9,231
Other debtors 612,000 413,000
622,059 422,231

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to own subsidiaries 162,255 531,953
Taxation and social security 172,693 13,839
Obligations under finance leases and hire purchase contracts 5,728 12,695
Other creditors 15,650 1,500
356,326 559,987

7. Provision for liabilities

2023 2022
£ £
Deferred tax 2,541 1,931

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each 50 50
50 B ordinary shares of £ 1.00 each 50 50
100 100

9. Related party transactions

During the period the company charged rent and management charges to its subsidiary totalling £612,000.