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Registered number: 12294857









RGF INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
RGF INVESTMENTS LIMITED
REGISTERED NUMBER: 12294857

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
707,400
68,127

  
707,400
68,127

Current assets
  

Cash at bank and in hand
 5 
427,187
-

  
427,187
-

Creditors: amounts falling due within one year
 6 
(69,530)
(68,126)

Net current assets/(liabilities)
  
 
 
357,657
 
 
(68,126)

Total assets less current liabilities
  
1,065,057
1

Provisions for liabilities
  

Deferred tax
  
(159,818)
-

  
 
 
(159,818)
 
 
-

Net assets
  
905,239
1


Capital and reserves
  

Called up share capital 
  
1
1

Revaluation reserve
  
479,455
-

Profit and loss account
  
425,783
-

  
905,239
1


Page 1

 
RGF INVESTMENTS LIMITED
REGISTERED NUMBER: 12294857
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2024.




................................................
Richard G Flint
Director

The notes on pages 5 to 8 form part of these financial statements.

Page 2

 
RGF INVESTMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 December 2022
1
-
-
1


Comprehensive income for the year

Profit for the year

-
-
905,238
905,238

Fair value adjustments
-
-
(479,455)
(479,455)


Other comprehensive income for the year
-
-
(479,455)
(479,455)


Total comprehensive income for the year
-
-
425,783
425,783


Contributions by and distributions to owners

Transfer to/from profit and loss account
-
479,455
-
479,455


Total transactions with owners
-
479,455
-
479,455


At 30 November 2023
1
479,455
425,783
905,239


The notes on pages 5 to 8 form part of these financial statements.

Page 3

 
RGF INVESTMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2022


Called up share capital
Total equity

£
£

At 1 December 2021
1
1


Other comprehensive income for the year
-
-


Total comprehensive income for the year
-
-


Total transactions with owners
-
-


At 30 November 2022
1
1


The notes on pages 5 to 8 form part of these financial statements.

Page 4

 
RGF INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

RGF Investments Limited is a private company limited by shares, incorporated in England and Wales. The registered office is First Floor Radius House, 51 Clarendon Road, Watford, Hertfordshire, United Kingdom, WD17 1HP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
RGF INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Investments in unlisted investments where the company cannot exert significant influence are held at latest revalued amount less impairment. Potential gains and losses on illiquid investments are taken to the profit and loss account. In accordance with applicable accounting standards, the resultant revalued amount is transferred to the revaluation reserve. This amount is classified under non-distributable reserves, reflecting the unrealized nature of the revaluation surplus. Where market value cannot be reliably determined, such investments are stated at historic amount less impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 6

 
RGF INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 December 2022
68,127


Revaluations
639,273



At 30 November 2023
707,400




The company owns 1,232,500 A shares and 1,232,500 C shares in Swish Management Ltd. Swish Management Limited carried out a revaluation of its assets as of 22 March 2023 and paid a dividend to the company following the merger of its underlying investment in Swish Trading Limited (now renamed Fern Fibre Trading Limited). The revaluation of RGF Investment Limited’s interest in Swish Management Limited reflects the market valuation carried out by Swish Management Limited as of 22 March 2023. No robust independent valuation has been performed since that date. The company continues to hold an approximate 5.7% interest in Swish Management Limited. Swish Management Limited is a private limited company limited by shares, registered in England and Wales under company number 12293354. Its registered office is situated at Bushbury House, 435 Wilmslow Road, Withington, Manchester, United Kingdom, M20 4AF.


5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
427,187
-

427,187
-



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
204
-

Other creditors
68,126
68,126

Accruals
1,200
-

69,530
68,126



7.


Deferred taxation

Page 7

 
RGF INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
 
7.Deferred taxation (continued)




2023


£






Charged to profit or loss
(159,818)



At end of year
(159,818)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Revaluation of fixed asset investment
(159,818)
-

(159,818)
-

 
Page 8