Acorah Software Products - Accounts Production 15.0.600 false true true false 23 August 2024 29 November 2022 31 December 2023 31 December 2023 14513590 Mr Harvey Nijjar Mr Robert Keown-Boyd iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14513590 2022-11-28 14513590 2023-12-31 14513590 2022-11-29 2023-12-31 14513590 frs-core:CurrentFinancialInstruments 2023-12-31 14513590 frs-core:Non-currentFinancialInstruments 2023-12-31 14513590 frs-core:OtherReservesSubtotal 2023-12-31 14513590 frs-core:ShareCapital 2023-12-31 14513590 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 14513590 frs-bus:PrivateLimitedCompanyLtd 2022-11-29 2023-12-31 14513590 frs-bus:FilletedAccounts 2022-11-29 2023-12-31 14513590 frs-bus:SmallEntities 2022-11-29 2023-12-31 14513590 frs-bus:Audited 2022-11-29 2023-12-31 14513590 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-29 2023-12-31 14513590 frs-bus:Director1 2022-11-29 2023-12-31 14513590 frs-bus:Director2 2022-11-29 2023-12-31 14513590 frs-countries:EnglandWales 2022-11-29 2023-12-31
Registered number: 14513590
RCH Capital Limited
Financial Statements
For the Period 29 November 2022 to 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 14513590
31 December 2023
Notes £ £
CURRENT ASSETS
Debtors 4 994,827
Cash at bank and in hand 254,813
1,249,640
Creditors: Amounts Falling Due Within One Year 5 (911,356 )
NET CURRENT ASSETS (LIABILITIES) 338,284
TOTAL ASSETS LESS CURRENT LIABILITIES 338,284
Creditors: Amounts Falling Due After More Than One Year 6 (409,789 )
NET LIABILITIES (71,505 )
CAPITAL AND RESERVES
Called up share capital 7 1,178
Other reserves 90,211
Profit and Loss Account (162,894 )
SHAREHOLDERS' FUNDS (71,505)
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Harvey Nijjar
Director
23/08/2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
RCH Capital Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14513590 . The registered office is Windsor House, Bayshill Road, Cheltenham, GL50 3AT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
In assessing the going concern status of the Company the directors have considered the cash on hand available to the company at the date of approving the financial statements, prepared detailed cash flow forecast and projections and reviewed the strategic plan.  Written assurances have been received from existing investors that they are committed to support the Company in the immediate future whilst the planned growth is implements.
After reviewingthe Company's forecasts and projectiopns, the directors have a reasonable expectation that the Company has access to adequate resources to continue inoperational existence for the foreseeable future and consider that is it appropriate to prepare the accounts on a going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Additional Accounting Policies
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
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.
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.
Convertible loan notes
...CONTINUED
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Page 3
2.4. Additional Accounting Policies - continued
The component parts of compound instruments issued by the Company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. On initial recognition the financial liability component is recorded at its fair value. At the date of issue the fair value of the liability component is estimated using the prevailing market interest rate for a similar non-convertible instrument. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised and included in equity and is not subsequently remeasured.  The finance costs of the financial liability are recognised over the term of the debt using the effective interest method.
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.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL
-
4. Debtors
31 December 2023
£
Due within one year
Trade debtors 989,165
Other debtors 5,662
994,827
5. Creditors: Amounts Falling Due Within One Year
31 December 2023
£
Trade creditors 13
Other creditors 845,028
Accruals and deferred income 66,315
911,356
Other creditors includes £823,412 secured over trade debtor balances.
6. Creditors: Amounts Falling Due After More Than One Year
31 December 2023
£
Other Loan 409,789
409,789
7. Share Capital
31 December 2023
£
Allotted, Called up and fully paid 1,178
Page 3
Page 4
8. Post Balance Sheet Events
Post year end convertible loan note instruments were issued to the company totalling £400,000.
9. Audit Information
The auditors report on the account of RCH Capital Limited for the period ended 31 December 2023 was unqualified
The auditor's report was signed by Felicity Sang (Senior Statutory Auditor) for and on behalf of Hazlewoods LLP, Statutory Auditor , Statutory Auditor
Hazlewoods LLP, Statutory Auditor
Staverton Court
Staverton
Cheltenham
GL51 0UX
Page 4