Registration number:
Prepared for the registrar
for the
Year Ended 31 October 2023
RH (Norwich) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
RH (Norwich) Limited
Company Information
Director |
Annalisa Birchenall |
Registered office |
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Accountants |
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RH (Norwich) Limited
(Registration number: 13598604)
Balance Sheet as at 31 October 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Profit and loss account |
(48,791) |
(24,835) |
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Shareholders' deficit |
(48,790) |
(24,834) |
For the financial year ending 31 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:
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The director acknowledges her 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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
RH (Norwich) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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 for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the
company has adequate resources to continue in operational existence for the foreseeable future.
If the forecasts are not met the shareholders have indicated that they will support any shortfall in funding,
although there is no written agreement in place.The company therefore continues to adopt the going concern
basis in preparing its financial statements.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Judgements
No significant judgements have been made by management in preparing these financial statements. |
RH (Norwich) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position 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:
Asset class |
Depreciation method and rate |
Investment / Freehold property |
0% |
Equipment |
15% Reducing balance |
Investment property
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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.
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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
RH (Norwich) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
RH (Norwich) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost |
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At 1 November 2022 |
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Additions |
- |
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At 31 October 2023 |
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Depreciation |
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At 1 November 2022 |
- |
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Charge for the period |
- |
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At 31 October 2023 |
- |
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Carrying amount |
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At 31 October 2023 |
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At 31 October 2022 |
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Included within the net book value of land and buildings above is £111,295 (2022 - £111,295) in respect of freehold land and buildings.
Investment properties |
£ |
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At 1 November 2022 |
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There has been no valuation of investment property by an independent valuer.
Debtors |
31 October 2023 |
31 October 2022 |
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Trade debtors |
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Other debtors |
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RH (Norwich) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Creditors |
Note |
31 October 2023 |
31 October 2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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- |
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Amounts due to related parties |
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Social security and other taxes |
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Outstanding defined contribution pension costs |
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Accrued expenses |
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Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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RH (Norwich) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Share capital |
Allotted, called up and fully paid shares
31 October 2023 |
31 October 2022 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Related party transactions |
Transactions with the director |
Key management personnel is considered to be the director of the company.
As at 31 October 2023 the company owed A Birchenall £1,247 (2022 - £1 was owed by A Birchenall).
This amount is included in other borrowings (2022 - other debtors). There are no fixed repayment terms and no interest
is charged
Summary of transactions with other related parties
(of which the director is director and shareholder)