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Company registration number: NI655946
R & K Holdings Limited
Unaudited filleted financial statements
30 September 2023
R & K Holdings Limited
Contents
Directors and other information
Directors report
Accountants report
Balance sheet
Notes to the financial statements
R & K Holdings Limited
Directors and other information
Directors Mr Richard Chambers
Mr Derek Wilson
Company number NI655946
Registered office 90A Plantation road
Portadown
Craigavon
United Kingdom
BT63 5NN
Accountants Jones Peters
Chartered Accountants
6/7 Church street
Banbridge
County Down
BT32 4AA
Bankers Bank of Ireland
43 High Street
Portadown
BT62 1HY
R & K Holdings Limited
Directors report
Year ended 30 September 2023
The directors present their report and the unaudited financial statements of the company for the year ended 30 September 2023.
Directors
The directors who served the company during the year were as follows:
Mr Richard Chambers
Mr Derek Wilson
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 24 September 2024 and signed on behalf of the board by:
Mr Richard Chambers
Director
R & K Holdings Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of R & K Holdings Limited
Year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R & K Holdings Limited for the year ended 30 September 2023 which comprise the Balance sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of R & K Holdings Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R & K Holdings Limited and state those matters that we have agreed to state to the board of directors of R & K Holdings Limited as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R & K Holdings Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that R & K Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R & K Holdings Limited. You consider that R & K Holdings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of R & K Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Jones Peters
Chartered Accountants
6/7 Church street
Banbridge
County Down
BT32 4AA
24 September 2024
R & K Holdings Limited
Balance sheet
30 September 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 68 6,056
Investments 6 397,400 397,400
_______ _______
397,468 403,456
Current assets
Debtors 7 831 775
Cash at bank and in hand 87,550 71,329
_______ _______
88,381 72,104
Creditors: amounts falling due
within one year 8 ( 10,571) ( 10,700)
_______ _______
Net current assets 77,810 61,404
_______ _______
Total assets less current liabilities 475,278 464,860
Creditors: amounts falling due
after more than one year 9 ( 440,100) ( 440,100)
_______ _______
Net assets 35,178 24,760
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 35,176 24,758
_______ _______
Shareholders funds 35,178 24,760
_______ _______
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Mr Richard Chambers
Director
Company registration number: NI655946
R & K Holdings Limited
Notes to the financial statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 90A Plantation road, Portadown, Craigavon, United Kingdom, BT63 5NN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Furniture and fittings 20 %
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Furniture and fittings Total
£ £
Cost
At 1 October 2022 and 30 September 2023 29,940 29,940
_______ _______
Depreciation
At 1 October 2022 23,884 23,884
Charge for the year 5,988 5,988
_______ _______
At 30 September 2023 29,872 29,872
_______ _______
Carrying amount
At 30 September 2023 68 68
_______ _______
At 30 September 2022 6,056 6,056
_______ _______
6. Investments
Investment properties Total
£ £
Cost
At 1 October 2022 and 30 September 2023 397,400 397,400
_______ _______
Impairment
At 1 October 2022 and 30 September 2023 - -
_______ _______
Carrying amount
At 30 September 2023 397,400 397,400
_______ _______
At 30 September 2022 397,400 397,400
_______ _______
7. Debtors
2023 2022
£ £
Other debtors 831 775
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 6,024 5,674
Other creditors 4,547 5,026
_______ _______
10,571 10,700
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 440,100 440,100
_______ _______