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Company No: 07175524 (England and Wales)

RSHP BARANGAROO LIMITED

Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

RSHP BARANGAROO LIMITED

Financial Statements

For the financial year ended 31 December 2023

Contents

RSHP BARANGAROO LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
RSHP BARANGAROO LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS I Birtles
E L Grut
I W Harbour
REGISTERED OFFICE Level 14 The Leadenhall Building
122 Leadenhall Street
London
EC3V 4AB
England
United Kingdom
COMPANY NUMBER 07175524 (England and Wales)
AUDITOR Praxis
1 Poultry
London
EC2R 8EJ
RSHP BARANGAROO LIMITED

BALANCE SHEET

As at 31 December 2023
RSHP BARANGAROO LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Current assets
Debtors 3 201,494 161,462
Cash at bank and in hand 4 385 2,899
201,879 164,361
Creditors: amounts falling due within one year 5 ( 153,513) ( 118,613)
Net current assets 48,366 45,748
Total assets less current liabilities 48,366 45,748
Net assets 48,366 45,748
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 48,365 45,747
Total shareholder's funds 48,366 45,748

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of RSHP Barangaroo Limited (registered number: 07175524) were approved and authorised for issue by the Board of Directors on 04 October 2024. They were signed on its behalf by:

I Birtles
Director
RSHP BARANGAROO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
RSHP BARANGAROO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
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

RSHP Barangaroo Limited (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 Level 14 The Leadenhall Building, 122 Leadenhall Street, London, EC3V 4AB, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 Company is dependent on the Parent LLP for all of its income. The Parent LLP's forecasts and projections show that the Parent LLP and its subsidiaries are able to operate within the level of their current facilities.

Therefore, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT. Turnover represents the value of costs incurred and recharged together with a fixed profit margin to group entities.

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.

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 Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 172,354 155,357
Corporation tax 456 3,601
Other debtors 28,684 2,504
201,494 161,462

4. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 385 2,899

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 4,654 4,282
Amounts owed to Group undertakings 32,274 23,643
Amounts owed to connected persons 82,862 83,949
Taxation and social security 1,945 0
Other creditors 31,778 6,739
153,513 118,613

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

Amounts owed to Group undertakings and connected persons are repayable on demand and do not bear interest.

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Related party transactions

Transactions with owners holding a participating interest in the entity

2023 2022
£ £
Amounts owed to an entity holding a participating interest in the Company 82,863 83,949

During the year, the Company invoiced accrued income of £22,816 and received invoices in respect of accrued costs of £21,730 resulting in a net reduction in the above loan balance of £1,086.

8. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2023 was unqualified.

The audit report was signed by Nikinder Baller on behalf of Praxis.

9. Ultimate controlling party

Parent Company:

RSHP Holdings Limited
Level 14, The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB.

The ultimate parent entity is RSHP Group Limited, a company registered in England and Wales. The parent entity of the smallest group which produces group financial statements is RSHP LLP, an LLP registered in England and Wales. The registered office of both entities is Level 14, The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB.

Both entities produce group accounts and copies of these can be obtained from Companies House, Crown Way, Cardiff.