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Company No: 09279203 (England and Wales)

RUNDLE & WAKEHAM LIMITED

Unaudited Financial Statements
For the financial year ended 30 October 2023
Pages for filing with the registrar

RUNDLE & WAKEHAM LIMITED

Unaudited Financial Statements

For the financial year ended 30 October 2023

Contents

RUNDLE & WAKEHAM LIMITED

BALANCE SHEET

As at 30 October 2023
RUNDLE & WAKEHAM LIMITED

BALANCE SHEET (continued)

As at 30 October 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 5,000 5,000
5,000 5,000
Current assets
Debtors 4 356,425 356,425
Cash at bank and in hand 151 185
356,576 356,610
Creditors: amounts falling due within one year 5 ( 694,228) ( 694,178)
Net current liabilities (337,652) (337,568)
Total assets less current liabilities (332,652) (332,568)
Net liabilities ( 332,652) ( 332,568)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 332,752 ) ( 332,668 )
Total shareholders' deficit ( 332,652) ( 332,568)

For the financial year ending 30 October 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 financial statements of Rundle & Wakeham Limited (registered number: 09279203) were approved and authorised for issue by the Director on 26 July 2024. They were signed on its behalf by:

S A Rundle
Director
RUNDLE & WAKEHAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 October 2023
RUNDLE & WAKEHAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 October 2023
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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.

Taxation

Current tax
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.

Impairment of assets

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.

Fixed asset investments

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Business combinations

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 31 October 2022 5,000
At 30 October 2023 5,000
Carrying value at 30 October 2023 5,000
Carrying value at 30 October 2022 5,000

4. Debtors

2023 2022
£ £
Other debtors 356,425 356,425

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Group undertakings 64,449 64,399
Taxation and social security 87,425 87,425
Other creditors 542,354 542,354
694,228 694,178