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Registered number: 11197185









RICHMOND GROUP MANAGEMENT SERVICES LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
RICHMOND GROUP MANAGEMENT SERVICES LIMITED
REGISTERED NUMBER: 11197185

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
372,821
4,998

Cash at bank and in hand
 5 
11,546
365,696

  
384,367
370,694

Creditors: amounts falling due within one year
 6 
(390,202)
(370,684)

Net current (liabilities)/assets
  
 
 
(5,835)
 
 
10

Total assets less current liabilities
  
(5,835)
10

  

Net (liabilities)/assets
  
(5,835)
10


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
(5,845)
-

  
(5,835)
10


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 by: 




A Cole
Director

Date: 14 November 2023

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
RICHMOND GROUP MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Richmond Group Management Services Limited is a private company limited by shares and incorporated in England and Wales. The registered office is Walton House, 56-58 Richmond Hill, Bournemouth, Dorset, United Kingdom, BH2 6EX. The principal activity of the company continued to be that of supplying legal, finance, IT, administrative and other operational staff to group companies.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 2

 
RICHMOND GROUP MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

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


3.


Employees

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


4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
372,821
-

Other debtors
-
4,998

372,821
4,998



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
11,546
365,696

11,546
365,696


Page 3

 
RICHMOND GROUP MANAGEMENT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
13,269

Amounts owed to group undertakings
227,340
255,022

Other taxation and social security
110,253
81,509

Other creditors
52,609
20,884

390,202
370,684



7.


Related party transactions

The Company paid salaries to Director's close family member.


8.


Controlling party

The ultimate parent undertaking is Richmond Group Limited. The controlling party is Mr J Benamor by virtue of his 100% shareholding in Richmond Group Limited.
Group accounts are prepared by Richmond Group Limited, being the smallest and largest group to consolidate these financial statements, and a copy of these can be obtained from the registered office, Walton House, 56-58 Richmond Hill, Bournemouth, Dorset, BH2 6EX.


9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2023 was unqualified.

The audit report was signed on 14 November 2023 by Neville Newman (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

 
Page 4