Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-05-01truefalse6060truefalse 09050939 2023-05-01 2024-04-30 09050939 c:EntityControlledByKeyManagementPersonnel1 2023-05-01 2024-04-30 09050939 c:EntityControlledByKeyManagementPersonnel1 2024-04-30 09050939 c:EntityControlledByKeyManagementPersonnel1 2023-04-30 09050939 c:Subsidiary1 2024-04-30 09050939 c:Subsidiary1 2023-04-30 09050939 2024-04-30 09050939 2022-05-01 2023-04-30 09050939 2023-04-30 09050939 d:Director1 2023-05-01 2024-04-30 09050939 d:Director2 2023-05-01 2024-04-30 09050939 c:CurrentFinancialInstruments 2024-04-30 09050939 c:CurrentFinancialInstruments 2023-04-30 09050939 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-30 09050939 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 09050939 c:ShareCapital 2024-04-30 09050939 c:ShareCapital 2023-04-30 09050939 c:RetainedEarningsAccumulatedLosses 2024-04-30 09050939 c:RetainedEarningsAccumulatedLosses 2023-04-30 09050939 d:OrdinaryShareClass1 2023-05-01 2024-04-30 09050939 d:OrdinaryShareClass1 2024-04-30 09050939 d:OrdinaryShareClass1 2023-04-30 09050939 d:OrdinaryShareClass2 2023-05-01 2024-04-30 09050939 d:OrdinaryShareClass2 2024-04-30 09050939 d:OrdinaryShareClass2 2023-04-30 09050939 d:OrdinaryShareClass3 2023-05-01 2024-04-30 09050939 d:OrdinaryShareClass3 2024-04-30 09050939 d:OrdinaryShareClass3 2023-04-30 09050939 d:OrdinaryShareClass4 2023-05-01 2024-04-30 09050939 d:OrdinaryShareClass4 2024-04-30 09050939 d:OrdinaryShareClass4 2023-04-30 09050939 d:OrdinaryShareClass5 2023-05-01 2024-04-30 09050939 d:OrdinaryShareClass5 2024-04-30 09050939 d:OrdinaryShareClass5 2023-04-30 09050939 d:FRS102 2023-05-01 2024-04-30 09050939 d:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 09050939 d:FullAccounts 2023-05-01 2024-04-30 09050939 d:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09050939 c:Subsidiary1 2023-05-01 2024-04-30 09050939 c:Subsidiary2 2023-05-01 2024-04-30 09050939 6 2023-05-01 2024-04-30 09050939 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Company Registration Number 09050939























RICHARDSON RETAILING LTD





UNAUDITED
FINANCIAL STATEMENTS





 30 APRIL 2024























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RICHARDSON RETAILING LTD
REGISTERED NUMBER: 09050939

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
1,298,306
1,298,306

  
1,298,306
1,298,306

Current assets
  

Stocks
  
210,409
180,124

Debtors: amounts falling due within one year
 5 
60,089
49,755

Cash at bank and in hand
  
281,894
392,285

  
552,392
622,164

Creditors: amounts falling due within one year
 6 
(1,776,240)
(1,607,777)

Net current liabilities
  
 
 
(1,223,848)
 
 
(985,613)

Total assets less current liabilities
  
74,458
312,693

  

Net assets
  
74,458
312,693


Capital and reserves
  

Called up share capital 
 7 
430
430

Profit and loss account
  
74,028
312,263

  
74,458
312,693


The directors consider 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 directors acknowledge their 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 comprehensive income 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 by: 


D G Richardson
J P Richardson
Director
Director


Date: 4 October 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
RICHARDSON RETAILING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Richardson Retailing Limited is a private company limited by shares incorporated in England and Wales. The company trades from its registered office at Low Row Service Station, Low Row, Brampton, Cumbria CA8 2JE. The company registration number is 09050939.
The financial statements are presented in Pounds Sterling.

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.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

  
2.3

Interest income

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

 
2.4

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Page 2

 
RICHARDSON RETAILING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Taxation

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 reporting date in the countries where the company operates and generates income.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

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.

 
2.10

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.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 3

 
RICHARDSON RETAILING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 60 (2023 - 60).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 May 2023
1,298,306



At 30 April 2024
1,298,306




The investment represents 100% of the ordinary share capital of Solway Heaters Limited and Solway Gas & Heating Limited.

Page 4

 
RICHARDSON RETAILING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,065
1,710

Other debtors
59,024
48,045

60,089
49,755



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
158,276
147,607

Amounts owed to group undertakings
1,012,334
351,162

Corporation tax
24,409
7,016

Other taxation and social security
69,106
55,555

Other creditors
453,869
1,004,262

Accruals and deferred income
58,246
42,175

1,776,240
1,607,777



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



86 (2023 - 86) Ordinary A shares of £1.00 each
86
86
86 (2023 - 86) Ordinary B shares of £1.00 each
86
86
86 (2023 - 86) Ordinary C shares of £1.00 each
86
86
86 (2023 - 86) Ordinary D shares of £1.00 each
86
86
43 (2023 - 43) Ordinary E shares of £1.00 each
43
43
43 (2023 - 43) Ordinary F shares of £1.00 each
43
43

430

430



8.


Contingent liabilities

The company has offered guarantees over the bank borrowing of related and group companies.

Page 5

 
RICHARDSON RETAILING LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Pension commitments

The company operates a defined contributions pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund during the period and amounted to £14,182 (2023 - £18,574). Contributions totalling £3,518 (2023 - £2,749) were payable to the fund at the reporting date and are included in creditors.


10.


Related party transactions

At the reporting date £450,351 (2023 - £1,001,153) was owed by the company to M & L Richardson & Sons Limited, a company under the control of the directors, in respect of a loan. In addition, £702,324 was owed by the company to it's subsidiary company Solway Heaters Limited (2023 - £351,162). These loans are interest free, unsecured and repayable on demand.
The company has also provided an unlimited guarantee in respect of the borrowings in M & L Richardson & Sons Limited. Further to this, M & L Richardson & Sons Limited has offered a cross-guarantee over the borrowings of the company.


Page 6