Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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5,000 | 5,000 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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356,576 | 356,610 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (337,652) | (337,568) | ||
Total assets less current liabilities | (332,652) | (332,568) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account | (
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Total shareholders' deficit | (
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Director's responsibilities:
The financial statements of Rundle & Wakeham Limited (registered number:
S A Rundle
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.
Rundle & Wakeham 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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom. The principal place of business is Unit 3D, Westpark 26, Chelston, Wellington, Somerset, TA21 9AD.
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 financial statements have been prepared on a going concern basis. The company's balance sheet shows net liabilities. The company's major liability is in respect of preference shares treated as debt. Although recorded as due within one year the company does not have distributable reserves to redeem the shares and hence payment cannot be made. The company's other significant creditor is corporation tax arising from null and void share redemptions where the director is confident of agreeing a payment arrangement with HMRC. On this basis the director considers that the going concern basis of accounting is appropriate.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
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.
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at the acquisition dates of assets given, liabilities incurred or assumed, and equity instruments issues by the group in exchange for control, of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the costs of the combination contingent on future events, the group includes the estimated amount in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Investments in subsidiaries
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£ | |
Cost | |
At 31 October 2022 |
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At 30 October 2023 |
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Carrying value at 30 October 2023 |
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Carrying value at 30 October 2022 |
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2023 | 2022 | ||
£ | £ | ||
Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Amounts owed to Group undertakings |
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Taxation and social security |
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Other creditors |
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