Company Registration No. 11043203 (England and Wales)
NEW RICKLEFORD LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
NEW RICKLEFORD LTD
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
NEW RICKLEFORD LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Trade and other receivables
5
129,697,361
125,071,942
Cash and cash equivalents
8,317,170
6,703,985
138,014,531
131,775,927
Current liabilities
6
(1,101,450)
(521,294)
Net current assets
136,913,081
131,254,633
Equity
Called up share capital
7
101
101
Share premium account
8
79,099,553
129,099,553
Retained earnings
57,813,427
2,154,979
Total equity
136,913,081
131,254,633
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
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 and signed by the director and authorised for issue on 27 November 2024
Mr David Sullivan
Director
Company registration number 11043203 (England and Wales)
NEW RICKLEFORD LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
Share capital
Share premium account
Retained earnings
Total
Notes
£
£
£
£
Balance at 1 December 2021
101
129,099,553
9,897,744
138,997,398
Year ended 30 November 2022:
Profit and total comprehensive income for the year
-
-
3,257,235
3,257,235
Dividends
-
-
(11,000,000)
(11,000,000)
Balance at 30 November 2022
101
129,099,553
2,154,979
131,254,633
Year ended 30 November 2023:
Profit and total comprehensive income for the year
-
-
5,658,448
5,658,448
Share Premium reduction
8
-
(50,000,000)
50,000,000
-
Balance at 30 November 2023
101
79,099,553
57,813,427
136,913,081
NEW RICKLEFORD LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Company information
New Rickleford Ltd is a private company limited by shares incorporated in England and Wales with Company Registration Number 11043203. The registered office is 4th Floor, Ramillies House, 2 Ramillies Street, London W1F 7LN.
2
Compliance with accounting standard
The financial statements have been prepared in accordance with the provision of FRS 102 including the disclosure requirements of section 1A for small entities. There were no material departures from the standard.
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.
3
Accounting policies
3.1
Accounting convention
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.
3.2
Revenue
Turnover represents amounts of interest and arrangement fees receivable from providing finance.
3.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
3.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables 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, unless the debt is provided by the director when they are carried at the transaction amount. Financial assets classified as receivable within one year are not amortised.
NEW RICKLEFORD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
3
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, 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 payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
3.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
3.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between treatment of certain items for accounts purposes and their treatment for tax purposes.
Tax deferred or accelerated is accounted for in respect of all material timing difference.
During the year, no provision has been made for deferred tax as there were no such gains recognised for the period on any assets.
4
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
NEW RICKLEFORD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
5
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Trade receivables
7,002,831
2,377,412
Amounts falling due after more than one year:
Trade receivables
122,694,530
122,694,530
Total debtors
129,697,361
125,071,942
Trade receivables less than one year include interest income receivable within a year, on capital loans shown as more than one year. These loans are receivable from associated companies.
6
Current liabilities
2023
2022
£
£
Corporation tax
1,051,500
486,344
Other payables
49,950
34,950
1,101,450
521,294
7
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
Ordinary share of £1 each
101
101
8
Share premium account
During the year, the company carried out a significant restructuring of its equity and reserves, which included a £50 million reduction in share premium to increase its distributable reserve.
9
Parent company
As at the year end, the company is under the control of Rickleford Group Limited, a company registered in England and Wales with registration number 11087869, by virtue of its shareholding.
The director, Mr D. Sullivan is the ultimate controlling party by virtue of his shareholding in Rickleford Group Limited.