RHA FURNITURE LIMITED

Company Registration Number:
04311457 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

RHA FURNITURE LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

RHA FURNITURE LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 52,200 46,615
Investments: 4 100,600 100,600
Total fixed assets: 152,800 147,215
Current assets
Stocks: 28,457 5,464
Debtors:   162,835 324,030
Cash at bank and in hand: 264,824 292,918
Total current assets: 456,116 622,412
Creditors: amounts falling due within one year: 5 (342,871) (509,805)
Net current assets (liabilities): 113,245 112,607
Total assets less current liabilities: 266,045 259,822
Creditors: amounts falling due after more than one year: 6 (22,981) (28,713)
Provision for liabilities: (9,850) (6,250)
Total net assets (liabilities): 233,214 224,859
Capital and reserves
Called up share capital: 200,000 200,000
Profit and loss account: 33,214 24,859
Shareholders funds: 233,214 224,859

The notes form part of these financial statements

RHA FURNITURE LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 25 February 2024
and signed on behalf of the board by:

Name: R J HUNT
Status: Director

The notes form part of these financial statements

RHA FURNITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is calculated to write down the cost of all tangible fixed assets by equal annual instalments over their expected useful lives. The rates generally applicable are:Improvements to property - 10% on costFixtures, fittings and equipment - 20% on costMotor vehicles - 12.5% and 25% on cost

Other accounting policies

StockStock is valued at the lower of cost and net realisable value. Work in progress represents direct costs incurred, but which have not been included in income to the accounting date.DebtorsShort term debtors are measured at the 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.CreditorsShort term trade creditors are measured at 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.TaxationTaxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.Current and deferred taxation assets and liabilities are not discounted.Current tax is recognised at the amount payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.Deferred taxDeferred 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 balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the difference between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using the tax rates that have been enacted or substantively enacted by the reporting date.Pension costs and other post retirement benefitsThe company operates a defined contribution pension scheme. Contributions payable to the company’s scheme are charged to profit and loss in the period to which they relate.Financial instrumentsThe company only enters into basic financial instruments 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 non-puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable or payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted are a market rate of interest for a similar debt instrument and subsequently at amortised cost.

RHA FURNITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 12 12

RHA FURNITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 66,966
Additions 16,392
Disposals (7,674)
At 31 December 2023 75,684
Depreciation
At 01 January 2023 20,351
Charge for year 10,807
On disposals (7,674)
At 31 December 2023 23,484
Net book value
At 31 December 2023 52,200
At 31 December 2022 46,615

RHA FURNITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Fixed investments

Interest in subsidiary companies £100,600 £100,600At 31 December 2023 and 31 December 2022 the company owned 100% of the issued share capital of RHA International Limited, which company did not trade during under review or in the previous accounting period and is registered in England.

RHA FURNITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

Trade creditors £40,027 £31,584Amounts owed to group undertakings £100,000 £100,000Other creditors and advance deposits £102,766 £223,059Director's loan £- £10,000Other taxes and social security costs £43,111 £33,170Amounts outstanding under hirepurchase agreements £8,024 £8,025Accruals £48,943 £103,967

RHA FURNITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due after more than one year note

Amounts outstanding under hirepurchase agreements £22,981 £28,713