Company Registration No. 08156827 (England and Wales)
RICKLEFORD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
RICKLEFORD LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
RICKLEFORD LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
28 NOVEMBER 2023
28 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Trade and other receivables
6
80,806,469
68,587,045
Cash and cash equivalents
2,307,580
7,274,626
83,114,049
75,861,671
Current liabilities
7
(4,033,249)
(449,140)
Net current assets
79,080,800
75,412,531
Non-current liabilities
8
(22,000,000)
(22,000,000)
Net assets
57,080,800
53,412,531
Equity
Called up share capital
9
2,100
2,100
Retained earnings
57,078,700
53,410,431
Total equity
57,080,800
53,412,531
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 28 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 08156827 (England and Wales)
RICKLEFORD LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 NOVEMBER 2023
- 2 -
Share capital
Retained earnings
Total
£
£
£
Balance at 29 November 2021
2,100
51,537,473
51,539,573
Year ended 28 November 2022:
Profit and total comprehensive income
-
1,872,958
1,872,958
Balance at 28 November 2022
2,100
53,410,431
53,412,531
Year ended 28 November 2023:
Profit and total comprehensive income
-
3,668,269
3,668,269
Balance at 28 November 2023
2,100
57,078,700
57,080,800
RICKLEFORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2023
- 3 -
1
Company information
Rickleford Ltd is a private company limited by shares incorporated in England and Wales with Company Registration Number 08156827. The registered office is 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 for the year ended 28 November 2022 of Rickleford Limited are prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
3
Accounting policies
3.1
Accounting convention
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
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 £.
3.2
Revenue
Turnover represents amounts of interest and arrangement fees receivable from providing finance to private individuals and small and medium sized enterprises.
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. Financial assets classified as receivable within one year are not amortised.
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.
RICKLEFORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2023
3
Accounting policies
(Continued)
- 4 -
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, unless the debt is provided by the director when they are carried at the transaction amount. 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 period, no provision has been made for deferred tax as there were no such gains recognised for the period on any assets.
4
Corresponding amount
In certain cases, the director has reanalysed the corresponding amounts in order to make their disclosure more meaningful.
RICKLEFORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2023
- 5 -
5
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
6
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Trade receivables
5,962,515
3,273,245
Amounts owed by group undertakings
9,350
5,971,865
3,273,245
Trade receivables less than one year include interest income receivable within a year on loan capital shown as more than 1 year as per below.
Amounts falling due after more than one year:
Trade receivables
74,834,604
65,313,800
Total debtors
80,806,469
68,587,045
Trade receivables more than one year include loan capital of £38,626,378 (2022: £39,226,378) receivable from an associated company.
7
Current liabilities
2023
2022
£
£
Amounts owed to group undertakings
3,220,000
220,000
Corporation tax
760,749
195,959
Other payables
52,500
33,181
4,033,249
449,140
8
Non-current liabilities
2023
2022
£
£
Other payables
22,000,000
22,000,000
RICKLEFORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2023
8
Non-current liabilities
(Continued)
- 6 -
Other payables includes Preference shares with 1% coupons attached to them.
9
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
Ordinary 'A' share of £1 each
100
100
Ordinary 'B' share of £1 each
1,000
1,000
Ordinary 'C' share of £1 each
1,000
1,000
2,100
2,100
The A, B and C shares have the following rights to income and capital:
Voting each holder of A shares shall be entitled to receive notice of, and shall be entitled to attend either in person or by proxy, any general meeting of the company and on a show of hands shall have one vote and on a poll shall have one vote for every such share in respect of which he is the holder.
Each holder of B Shares shall be entitled to receive notice of, but shall not be entitled to attend or vote at any general meeting until the earlier of (i) immediately before a sale, or (ii) the date falling 21 years from the date of adoption of the articles of association adopted on 22nd April 2014, at which time each holder of B shares shall become entitled to attend either in person or by proxy, any general meeting of the company and on a show of hands shall have one vote and on a poll shall have one vote for every such share in respect of which he is a holder.
Each holder of C Shares shall be entitled to receive notice of, but shall not be entitled to attend or vote at any general meeting until the earlier of (i) immediately before a sale, or (ii) the date falling 21 years from the date of adoption of the articles of association adopted on 22nd April 2014, at which time each holder of C shares shall become entitled to attend either in person or by proxy, any general meeting of the company and on a show of hands shall have one vote and on a poll shall have one vote for every such share in respect of which he is a holder.
10
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.