Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Geoffrey Alan Dodd 17/12/2009 Mitchell John Floyd-Walker 01/01/2016 Paul James Ridgers 19/07/2007 26 July 2024 The principal activity of the Company during the financial year was advertising, design and marketing consultancy. 03909789 2024-03-31 03909789 bus:Director1 2024-03-31 03909789 bus:Director2 2024-03-31 03909789 bus:Director3 2024-03-31 03909789 2023-03-31 03909789 core:CurrentFinancialInstruments 2024-03-31 03909789 core:CurrentFinancialInstruments 2023-03-31 03909789 core:ShareCapital 2024-03-31 03909789 core:ShareCapital 2023-03-31 03909789 core:OtherCapitalReserve 2024-03-31 03909789 core:OtherCapitalReserve 2023-03-31 03909789 core:RetainedEarningsAccumulatedLosses 2024-03-31 03909789 core:RetainedEarningsAccumulatedLosses 2023-03-31 03909789 core:Goodwill 2023-03-31 03909789 core:Goodwill 2024-03-31 03909789 core:OfficeEquipment 2023-03-31 03909789 core:OtherPropertyPlantEquipment 2023-03-31 03909789 core:OfficeEquipment 2024-03-31 03909789 core:OtherPropertyPlantEquipment 2024-03-31 03909789 core:ListedExchangeTraded core:WithinOneYear 2024-03-31 03909789 core:ListedExchangeTraded core:WithinOneYear 2023-03-31 03909789 bus:OrdinaryShareClass1 2024-03-31 03909789 2023-04-01 2024-03-31 03909789 bus:FilletedAccounts 2023-04-01 2024-03-31 03909789 bus:SmallEntities 2023-04-01 2024-03-31 03909789 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03909789 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03909789 bus:Director1 2023-04-01 2024-03-31 03909789 bus:Director2 2023-04-01 2024-03-31 03909789 bus:Director3 2023-04-01 2024-03-31 03909789 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 03909789 core:Goodwill 2023-04-01 2024-03-31 03909789 core:OfficeEquipment core:BottomRangeValue 2023-04-01 2024-03-31 03909789 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 03909789 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 03909789 2022-04-01 2023-03-31 03909789 core:OfficeEquipment 2023-04-01 2024-03-31 03909789 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 03909789 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 03909789 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03909789 (England and Wales)

RH ADVERTISING LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

RH ADVERTISING LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

RH ADVERTISING LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
RH ADVERTISING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 18,739 6,831
18,739 6,831
Current assets
Stocks 106,431 105,368
Debtors 5 588,994 676,173
Investments 6 56,448 52,666
Cash at bank and in hand 3,010,296 2,186,095
3,762,169 3,020,302
Creditors: amounts falling due within one year 7 ( 2,361,838) ( 2,222,912)
Net current assets 1,400,331 797,390
Total assets less current liabilities 1,419,070 804,221
Provision for liabilities 8 ( 30,415) ( 3,500)
Net assets 1,388,655 800,721
Capital and reserves
Called-up share capital 9 16,485 16,485
Other reserves 20,115 20,115
Profit and loss account 1,352,055 764,121
Total shareholders' funds 1,388,655 800,721

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of RH Advertising Limited (registered number: 03909789) were approved and authorised for issue by the Board of Directors on 26 July 2024. They were signed on its behalf by:

Paul James Ridgers
Director
RH ADVERTISING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
RH ADVERTISING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

RH Advertising 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 1st Floor Richmond Court, Emperor Way Exeter Business Park, Exeter, EX1 3QS, United Kingdom.

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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

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 Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life of 20 years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 4 - 5 years straight line
Other property, plant and equipment 2 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

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

Dividends

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.

Work in progress

Work in progress is valued at the lower of cost and estimated fee chargeable less costs expected to be incurred to completion. Work in progress is recognised to the extent that no right to consideration exists for work at the balance sheet date. It is valued at the lower of cost and net realisable value.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 14

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 214,000 214,000
At 31 March 2024 214,000 214,000
Accumulated amortisation
At 01 April 2023 214,000 214,000
At 31 March 2024 214,000 214,000
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

4. Tangible assets

Office equipment Other property, plant
and equipment
Total
£ £ £
Cost
At 01 April 2023 59,899 5,082 64,981
Additions 14,872 0 14,872
At 31 March 2024 74,771 5,082 79,853
Accumulated depreciation
At 01 April 2023 53,068 5,082 58,150
Charge for the financial year 2,964 0 2,964
At 31 March 2024 56,032 5,082 61,114
Net book value
At 31 March 2024 18,739 0 18,739
At 31 March 2023 6,831 0 6,831

5. Debtors

2024 2023
£ £
Trade debtors 573,420 654,334
Prepayments 15,335 21,839
Other debtors 239 0
588,994 676,173

6. Current asset investments

2024 2023
£ £
Listed investments – at fair value 56,448 52,666

The fair value of listed investments, which are all traded in active markets, was determined with reference to the quoted market price at the reporting date.

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 391,481 256,240
Accruals and deferred income 1,571,974 1,699,884
Taxation and social security 371,139 254,199
Other creditors 27,244 12,589
2,361,838 2,222,912

8. Provision for liabilities

2024 2023
£ £
Other provisions 30,415 3,500

Included within provisions is a £30,415 provision (2023: £3,500) in respect of repairs to the leasehold office building, which is occupied on a 'full repair lease'.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
16,485 Ordinary shares of £ 1.00 each 16,485 16,485

RESERVES

Other reserves
This balance represents the nominal value of the company's shares repurchased in previous years.

Profit and loss account
This balance represents the distributable reserves of the company.

10. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Dividends 299,738 248,835