RICHMOND ASSOCIATES HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Richmond Associates Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 11185198, registered office 10 Queen Street Place, London, EC4R 1AG.
2.Accounting policies
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Basis of preparation of financial statements
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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 director has reviewed the Company's liabilities over the next 12 months and considers the business to be a going concern. The subsidiary company will continue to support the Company as required along with steps being taken by management to ensure that all financial commitments can be met when they fall due.
Investments in subsidiaries are measured at cost less accumulated impairment.
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.
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.
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.
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The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).
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The average monthly number of employees, including directors, during the year was 0 (2022 - 0).
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