Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-31true2022-04-01falseProperty company11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13465738 2022-04-01 2023-03-31 13465738 2021-06-18 2022-03-31 13465738 2023-03-31 13465738 2022-03-31 13465738 c:Director1 2022-04-01 2023-03-31 13465738 c:RegisteredOffice 2022-04-01 2023-03-31 13465738 d:PlantMachinery 2022-04-01 2023-03-31 13465738 d:PlantMachinery 2023-03-31 13465738 d:PlantMachinery 2022-03-31 13465738 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 13465738 d:FreeholdInvestmentProperty 2023-03-31 13465738 d:FreeholdInvestmentProperty 2022-03-31 13465738 d:FreeholdInvestmentProperty 2 2022-04-01 2023-03-31 13465738 d:CurrentFinancialInstruments 2023-03-31 13465738 d:CurrentFinancialInstruments 2022-03-31 13465738 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13465738 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13465738 d:ShareCapital 2023-03-31 13465738 d:ShareCapital 2021-06-18 2022-03-31 13465738 d:ShareCapital 2022-03-31 13465738 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 13465738 d:RetainedEarningsAccumulatedLosses 2023-03-31 13465738 d:RetainedEarningsAccumulatedLosses 2021-06-18 2022-03-31 13465738 d:RetainedEarningsAccumulatedLosses 2022-03-31 13465738 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 13465738 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 13465738 c:FRS102 2022-04-01 2023-03-31 13465738 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13465738 c:FullAccounts 2022-04-01 2023-03-31 13465738 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 13465738










RRI HOLDINGS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




















 
RRI HOLDINGS LIMITED
 
 
Company Information


Director
M G Raymond 




Registered number
13465738



Registered office
3rd Floor
12 Gough Square

London

EC4A 3DW





 
RRI HOLDINGS LIMITED
Registered number: 13465738

Balance sheet
As at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,695
2,328

Investment property
  
6,419,000
6,410,000

  
6,421,695
6,412,328

Current assets
  

Debtors: amounts falling due within one year
 6 
35,580
17,662

Cash at bank
 7 
29,511
26,530

  
65,091
44,192

Creditors: amounts falling due within one year
 8 
(185,108)
(173,985)

Net current liabilities
  
 
 
(120,017)
 
 
(129,793)

Total assets less current liabilities
  
6,301,678
6,282,535

Provisions for liabilities
  

Deferred tax
  
(1,128,962)
(1,133,962)

  
 
 
(1,128,962)
 
 
(1,133,962)

Net assets
  
5,172,716
5,148,573


Capital and reserves
  

Called up share capital 
  
9,000
9,000

Profit and loss account
  
5,163,716
5,139,573

  
5,172,716
5,148,573


Page 1

 
RRI HOLDINGS LIMITED
Registered number: 13465738
    
Balance sheet (continued)
As at 31 March 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 November 2023.




M G Raymond
Director

The notes on pages 5 to 10 form part of these financial statements.

Page 2

 
RRI HOLDINGS LIMITED
 

Statement of changes in equity
For the year ended 31 March 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2022
9,000
5,139,573
5,148,573



Profit for the year
-
91,643
91,643

Dividends
-
(67,500)
(67,500)


At 31 March 2023
9,000
5,163,716
5,172,716


The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
RRI HOLDINGS LIMITED
 

Statement of changes in equity
For the year ended 31 March 2022


Called up share capital
Profit and loss account
Total equity

£
£
£



Profit for the period
-
5,162,073
5,162,073

Dividends
-
(22,500)
(22,500)

Shares issued during the period
9,000
-
9,000


At 31 March 2022
9,000
5,139,573
5,148,573


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
RRI HOLDINGS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

1.


General information

RRI Holdings Limited ("the Company") is a private limited company by shares and is incorporated in England and Wales with registration number 13465738. The Company's registered address is 3rd Floor, 12 Gough Square, London, EC4A 3DW.
The Company was incorporated on 18 June 2021 and commenced a property business on 1 October 2021. The Company prepared the prior year's financial statements for the period to 31 March 2022.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue shown in the Profit and loss account represents the rent receivable during the period.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
RRI HOLDINGS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Appliances
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
RRI HOLDINGS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.11

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 7

 
RRI HOLDINGS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

4.


Tangible fixed assets





Appliances

£



Cost or valuation


At 1 April 2022
2,661


Additions
1,354


Disposals
(95)



At 31 March 2023

3,920



Depreciation


At 1 April 2022
333


Charge for the year on owned assets
904


Disposals
(12)



At 31 March 2023

1,225



Net book value



At 31 March 2023
2,695



At 31 March 2022
2,328

Page 8

 
RRI HOLDINGS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
6,410,000


Surplus on revaluation
9,000



At 31 March 2023
6,419,000

The 2023 valuations were made by Thompson Wilson Chartered Surveyors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
665,523
665,523

665,523
665,523


6.


Debtors

2023
2022
£
£


Trade debtors
10,118
8,709

Amounts owed by group undertakings
1,000
-

Other debtors
19,181
5,211

Prepayments and accrued income
5,281
3,742

35,580
17,662



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank
29,511
26,530

29,511
26,530


Page 9

 
RRI HOLDINGS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
50,000
50,414

Other creditors
96,614
88,106

Accruals and deferred income
38,494
35,465

185,108
173,985



9.


Deferred taxation




2023


£






At beginning of year
(1,133,962)


Charged to profit or loss
5,000



At end of year
(1,128,962)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Gain on investment property revaluation
(1,128,962)
(1,133,962)

(1,128,962)
(1,133,962)

 
Page 10