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Company No: 13178903 (England and Wales)

R&C VENUES LTD

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

R&C VENUES LTD

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

R&C VENUES LTD

COMPANY INFORMATION

For the financial year ended 29 February 2024
R&C VENUES LTD

COMPANY INFORMATION (continued)

For the financial year ended 29 February 2024
DIRECTORS Max William Cunningham
Levi-Jack Roper (Resigned 19 July 2024)
Wesley Kaine Roper
REGISTERED OFFICE 1-2 Woolhall Street
Bury St Edmunds
IP33 1LA
England
United Kingdom
COMPANY NUMBER 13178903 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
R&C VENUES LTD

BALANCE SHEET

As at 29 February 2024
R&C VENUES LTD

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 67,900 68,313
67,900 68,313
Current assets
Stocks 4 13,137 0
Debtors 5 4,955 2,410
Cash at bank and in hand 134,795 80,759
152,887 83,169
Creditors: amounts falling due within one year 6 ( 94,642) ( 50,315)
Net current assets 58,245 32,854
Total assets less current liabilities 126,145 101,167
Creditors: amounts falling due after more than one year 7 ( 9,413) ( 7,865)
Net assets 116,732 93,302
Capital and reserves
Called-up share capital 8 25 200
Profit and loss account 116,707 93,102
Total shareholders' funds 116,732 93,302

For the financial year ending 29 February 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 R&C Venues Ltd (registered number: 13178903) were approved and authorised for issue by the Board of Directors on 19 August 2024. They were signed on its behalf by:

Wesley Kaine Roper
Director
R&C VENUES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
R&C VENUES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 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

R&C Venues Ltd (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 1-2 Woolhall Street, Bury St Edmunds, IP33 1LA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 % reducing balance
Plant and machinery 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Computer equipment 20 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Ordinary share capital

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

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 28 23

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 March 2023 42,831 6,982 25,924 2,854 78,591
Additions 0 6,111 1,849 799 8,759
At 29 February 2024 42,831 13,093 27,773 3,653 87,350
Accumulated depreciation
At 01 March 2023 5,431 1,051 2,986 810 10,278
Charge for the financial year 3,740 3,473 1,515 444 9,172
At 29 February 2024 9,171 4,524 4,501 1,254 19,450
Net book value
At 29 February 2024 33,660 8,569 23,272 2,399 67,900
At 28 February 2023 37,400 5,931 22,938 2,044 68,313

4. Stocks

2024 2023
£ £
Stocks 13,137 0

5. Debtors

2024 2023
£ £
Trade debtors 2,409 2,410
Other debtors 2,546 0
4,955 2,410

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 9,668 7,708
Taxation and social security 69,303 30,710
Other creditors 15,671 11,897
94,642 50,315

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 9,413 7,865

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
200 A ordinary shares of £ 0.05 each (2023: 200 shares of £ 1.00 each) 10 200
100 B ordinary shares of £ 0.05 each (2023: nil shares) 5 0
100 C ordinary shares of £ 0.05 each (2023: nil shares) 5 0
100 D ordinary shares of £ 0.05 each (2023: nil shares) 5 0
25 200

9. Related party transactions