Company No:
Contents
Note | 31.03.2023 | 31.03.2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investments | 4 |
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571,964 | 711,913 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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168,552 | 74,852 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 126,457 | 36,496 | ||
Total assets less current liabilities | 698,421 | 748,409 | ||
Creditors: amounts falling due after more than one year | 7 | (
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Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 8 |
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Profit and loss account | (
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Total shareholder's deficit | (
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Director's responsibilities:
The financial statements of Richmond Skelly Properties Limited (registered number:
S R Sunderland
Director |
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.
Richmond Skelly Properties Limited (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 39 Royal Crescent, London, W11 4SN, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £221,328. The Company is supported through loans from a related family trust. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the trust will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Vehicles |
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Computer equipment |
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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.
Non-financial assets
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.
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 and loans from related parties, are initially recognised at transaction price.
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.
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. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
31.03.2023 | 31.03.2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Vehicles | Computer equipment | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 April 2022 |
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Additions |
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At 31 March 2023 |
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Accumulated depreciation | |||||
At 01 April 2022 |
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Charge for the financial year |
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At 31 March 2023 |
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Net book value | |||||
At 31 March 2023 |
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At 31 March 2022 |
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Listed investments | Total | ||
£ | £ | ||
Carrying value before impairment | |||
At 01 April 2022 |
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Additions |
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Disposals | (
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Movement in fair value | (
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At 31 March 2023 |
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Provisions for impairment | |||
At 01 April 2022 |
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At 31 March 2023 |
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Carrying value at 31 March 2023 |
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Carrying value at 31 March 2022 |
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£ | £ | ||
Other debtors |
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31.03.2023 | 31.03.2022 | ||
£ | £ | ||
Other taxation and social security |
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Obligations under finance leases and hire purchase contracts |
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Other creditors |
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31.03.2023 | 31.03.2022 | ||
£ | £ | ||
Obligations under finance leases and hire purchase contracts |
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Other creditors |
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£ | £ | ||
Allotted, called-up and fully-paid | |||
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