RCP Ventures Limited 13443406 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is 68209 Digita Accounts Production Advanced 6.30.9574.0 true true 13443406 2022-06-01 2023-05-31 13443406 2023-05-31 13443406 core:CurrentFinancialInstruments 2023-05-31 13443406 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 13443406 core:Non-currentFinancialInstruments 2023-05-31 13443406 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 13443406 core:FurnitureFittingsToolsEquipment 2023-05-31 13443406 bus:SmallEntities 2022-06-01 2023-05-31 13443406 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 13443406 bus:FullAccounts 2022-06-01 2023-05-31 13443406 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 13443406 bus:RegisteredOffice 2022-06-01 2023-05-31 13443406 bus:Director1 2022-06-01 2023-05-31 13443406 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 13443406 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 13443406 countries:EnglandWales 2022-06-01 2023-05-31 13443406 2022-05-31 13443406 2021-06-07 2022-05-31 13443406 2022-05-31 13443406 core:CurrentFinancialInstruments 2022-05-31 13443406 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 13443406 core:Non-currentFinancialInstruments 2022-05-31 13443406 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 13443406

RCP Ventures Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

RCP Ventures Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

RCP Ventures Limited

Company Information

Director

Mr Rob Phelps

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

RCP Ventures Limited

(Registration number: 13443406)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

637

-

Investment property

6

345,000

345,000

 

345,637

345,000

Current assets

 

Debtors

7

4,825

2,958

Cash at bank and in hand

 

4,760

7,735

 

9,585

10,693

Creditors: Amounts falling due within one year

8

(109,041)

(104,774)

Net current liabilities

 

(99,456)

(94,081)

Total assets less current liabilities

 

246,181

250,919

Creditors: Amounts falling due after more than one year

8

(234,862)

(234,862)

Provisions for liabilities

(3,816)

(3,816)

Net assets

 

7,503

12,241

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

16,266

16,266

Retained earnings

(9,763)

(5,025)

Shareholders' funds

 

7,503

12,241

For the financial year ending 31 May 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 year 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.

Approved and authorised by the director on 5 February 2024
 

 

RCP Ventures Limited

(Registration number: 13443406)
Balance Sheet as at 31 May 2023 (continued)

.........................................
Mr Rob Phelps
Director

 

RCP Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
1 Market Hill
Calne
Wiltshire
SN11 0BT
England

These financial statements were authorised for issue by the director on 5 February 2024.

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 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

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:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

RCP Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

2

Accounting policies (continued)

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

212

-

 

RCP Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

849

849

At 31 May 2023

849

849

Depreciation

Charge for the year

212

212

At 31 May 2023

212

212

Carrying amount

At 31 May 2023

637

637

6

Investment properties

2023
£

At 1 June

345,000

At 31 May

345,000

The fair value of the property at 31st May 2023 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £345,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

7

Debtors

Current

2023
£

2022
£

Prepayments

2,475

2,239

Other debtors

2,350

719

 

RCP Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,833

2,228

Amounts owed to group undertakings and undertakings in which the company has a participating interest

103,226

101,226

Taxation and social security

 

2,350

-

Accruals and deferred income

 

1,320

1,320

Other creditors

 

312

-

 

109,041

104,774

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

234,862

234,862

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

234,862

234,862