Company registration number 02856319 (England and Wales)
RIVER & ROWING MUSEUM (TRADING) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
RIVER & ROWING MUSEUM (TRADING) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RIVER & ROWING MUSEUM (TRADING) LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
32,872
28,683
Debtors
4
3,343
6,741
Cash at bank and in hand
2,196
14,569
38,411
49,993
Creditors: amounts falling due within one year
5
(20,012)
(36,148)
Net current assets
18,399
13,845
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
18,397
13,843
Total equity
18,399
13,845

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 20 September 2024 and are signed on its behalf by:
S Botterell
D Worthington
Director
Director
Company registration number 02856319 (England and Wales)
RIVER & ROWING MUSEUM (TRADING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

River & Rowing Museum (Trading) Limited is a private company limited by shares incorporated in England and Wales. The registered office is River & Rowing Museum, Hill Meadows, Henley on Thames, Oxfordshire, RG9 1BF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents sales to outside customers at Invoiced amounts less value added tax.

 

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on dispatch 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.

 

1.3
Stocks

Stock is valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal. Provision is made for obsolete, slow-moving or defective items where appropriate.

1.4
Cash and cash equivalents

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.5

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.6

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

RIVER & ROWING MUSEUM (TRADING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.7

Going Concern

The financial statements have been prepared on a going concern basis.

 

The directors are of the opinion the company has adequate resources to continue to operate for the foreseeable future, being not less than one year from the date of approval of these financial statements. The company has prepared forecasts which show that it expects to generate further profits In the current financial year.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

There are no estimates that management consider significant for the accounts.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,954
5,287
Other debtors
1,389
1,454
3,343
6,741
RIVER & ROWING MUSEUM (TRADING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,253
3,864
Amounts owed to group undertakings
9,925
29,347
Taxation and social security
2,473
-
0
Other creditors
5,361
2,937
20,012
36,148
6
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Katherine Wilkes
Statutory Auditor:
Critchleys Audit LLP
Date of audit report:
9 October 2024
7
Related party transactions

The company is a wholly owned subsidiary of River and Rowing Museum Foundation (a company limited by guarantee) and was under the control of this company throughout the year.

 

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Irelands”.

8
Parent company

The ultimate parent company is River and Rowing Museum Foundation, a charitable company incorporated in the United Kingdom. Copies of its consolidated financial statements, which include the company, can be obtained from the registered office. The registered office of River and Rowing Museum Foundation is River & Rowing Museum, Mill Meadows, Henley on Thames, RG9 1BF.

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