Company Registration No. 05766153 (England and Wales)
Richmond Agencies (UK) Limited
Unaudited accounts
for the year ended 31 January 2024
Richmond Agencies (UK) Limited
Unaudited accounts
Contents
Richmond Agencies (UK) Limited
Company Information
for the year ended 31 January 2024
Directors
Bruce Sylvester Richmond
Hamish Bil Richmond
Secretary
Hamish Bill Richmond
Company Number
05766153 (England and Wales)
Registered Office
Farthing Cottage
Main Street, Walesby
Newark
Notts
NG22 9NW
Accountants
Cloud Accountancy Limited
5 Park Crescent
Retford
Notts
DN22 6UF
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Richmond Agencies (UK) Limited
for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Richmond Agencies (UK) Limited for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
This report is made solely to the Board of Directors of Richmond Agencies (UK) Limited, as a body, in accordance with the terms of our engagement letter dated 19 June 2017. Our work has been undertaken solely to prepare for your approval the accounts of Richmond Agencies (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Richmond Agencies (UK) Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Richmond Agencies (UK) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Richmond Agencies (UK) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Richmond Agencies (UK) Limited. You consider that Richmond Agencies (UK) 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 accounts of Richmond Agencies (UK) 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 accounts.
Cloud Accountancy Limited
Member in Practice
5 Park Crescent
Retford
Notts
DN22 6UF
11 October 2024
Richmond Agencies (UK) Limited
Statement of financial position
as at 31 January 2024
Tangible assets
5,905
4,920
Inventories
70,000
100,000
Cash at bank and in hand
123,476
72,030
Creditors: amounts falling due within one year
(206,128)
(225,033)
Net current assets
26,979
28,372
Total assets less current liabilities
32,884
33,292
Creditors: amounts falling due after more than one year
(11,160)
(19,289)
Provisions for liabilities
Called up share capital
500
500
Profit and loss account
19,989
12,569
Shareholders' funds
20,489
13,069
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by
Bruce Sylvester Richmond
Director
Company Registration No. 05766153
Richmond Agencies (UK) Limited
Notes to the Accounts
for the year ended 31 January 2024
Richmond Agencies (UK) Limited is a private company, limited by shares, registered in England and Wales, registration number 05766153. The registered office is Farthing Cottage, Main Street, Walesby, Newark, Notts, NG22 9NW.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
Between 15% and 25% reducing balance / straight line
Computer equipment
25% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill
Positive goodwill is the amount paid in connection with the acquisition of a business in 2006, which was amortised on a straight line basis over its useful economic life of five years.
Other
The amount paid in connection with the acquisition of a patent in 2006, which was amortised on a straight line basis over its useful economic life of five years.
Amortisation of Intangibles
Amortisation is provided on intangible assets so as to write off the cost over their expected useful life as follows:
Goodwill 20% straight line basis
Patent 20% straight line basis
Richmond Agencies (UK) Limited
Notes to the Accounts
for the year ended 31 January 2024
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
Other
Total
At 1 February 2023
25,000
7,713
32,713
At 31 January 2024
25,000
7,713
32,713
At 1 February 2023
25,000
7,713
32,713
At 31 January 2024
25,000
7,713
32,713
Richmond Agencies (UK) Limited
Notes to the Accounts
for the year ended 31 January 2024
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2023
14,556
2,151
16,707
At 31 January 2024
14,556
4,630
19,186
At 1 February 2023
11,252
535
11,787
Charge for the year
842
652
1,494
At 31 January 2024
12,094
1,187
13,281
At 31 January 2024
2,462
3,443
5,905
At 31 January 2023
3,304
1,616
4,920
Amounts falling due within one year
Trade debtors
8,580
70,538
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
8,128
13,065
Trade creditors
138,794
172,717
Taxes and social security
15,013
16,877
Other creditors
42,474
20,835
Loans from directors
219
39
Creditors amounts falling due within one year includes £nil (2023: £13,065) on which security has been given.
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Creditors: amounts falling due after more than one year
2024
2023
Creditors amounts falling due after one year includes £nil (2023: £19,289) on which security has been given.
Richmond Agencies (UK) Limited
Notes to the Accounts
for the year ended 31 January 2024
Allotted, called up and fully paid:
500 Ordinary shares of £1 each
500
500
The company operates a defined contributions pension scheme for employees. Costs are expensed to the Income Statement as incurred.
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Average number of employees
During the year the average number of employees was 3 (2023: 4).