Company registration number 11087869 (England and Wales)
RICKLEFORD GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
RICKLEFORD GROUP LTD
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
RICKLEFORD GROUP LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
As restated
Notes
£
£
£
£
Fixed assets
Investments
6
186,180,454
182,512,185
Current assets
Trade and other receivables
8
3,220,000
220,000
Cash and cash equivalents
8,472,294
11,058,570
11,692,294
11,278,570
Current liabilities
9
(324,773)
(229,506)
Net current assets
11,367,521
11,049,064
Total assets less current liabilities
197,547,975
193,561,249
Non-current liabilities
10
(22,004,400)
(22,004,400)
Net assets
175,543,575
171,556,849
Equity
Called up share capital
11
2,100
2,100
Merger reserve
168,000,000
168,000,000
Retained earnings
7,541,475
3,554,749
Total equity
175,543,575
171,556,849
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 11087869 (England and Wales)
RICKLEFORD GROUP LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
Share capital
Merger reserves
Retained earnings
Total
£
£
£
£
Balance at 1 December 2021
2,100
168,000,000
(3,568)
167,998,532
Year ended 30 November 2022:
Profit and total comprehensive income for the year
-
-
3,558,317
3,558,317
Balance at 30 November 2022
2,100
168,000,000
3,554,749
171,556,849
Year ended 30 November 2023:
Profit and total comprehensive income for the year
-
-
3,986,726
3,986,726
Balance at 30 November 2023
2,100
168,000,000
7,541,475
175,543,575
RICKLEFORD GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Company information
Rickleford Group Ltd is a private company limited by shares incorporated in England and Wales with company registration number 11087869. 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 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
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
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.
RICKLEFORD GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
3
Accounting policies
(Continued)
- 4 -
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.
Trade receivables, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.
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.
RICKLEFORD GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
3
Accounting policies
(Continued)
- 5 -
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.
3.7
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
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
5
Investment income
2023
2022
£
£
Investment income includes the following:
Income from shares in group undertakings
-
11,000,000
Interest receivable from group companies
220,000
220,000
6
Fixed asset investments
2023
2022
£
£
Investments
186,180,454
182,512,185
RICKLEFORD GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
6
Fixed asset investments
(Continued)
- 6 -
Movements in non-current investments
Shares in group undertakings
£
Cost or valuation
At 1 December 2022 & 30 November 2023
190,002,100
Impairment
At 1 December 2022
7,489,915
Impairment loss reversals
(3,668,269)
At 30 November 2023
3,821,646
Carrying amount
At 30 November 2023
186,180,454
At 30 November 2022
182,512,185
7
Subsidiaries
Details of the company's subsidiaries at 30 November 2023 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Rickleford Limited
England and Wales
Ordinary
100.00
New Rickleford Limited
England and Wales
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Rickleford Limited
57,080,800
3,668,269
New Rickleford Limited
136,913,081
5,658,448
8
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
3,220,000
220,000
RICKLEFORD GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 7 -
9
Current liabilities
2023
2022
£
£
Amounts owed to group undertakings
9,350
Corporation tax
95,423
9,506
Other payables
220,000
220,000
324,773
229,506
10
Non-current liabilities
2023
2022
£
£
Other payables
22,004,400
22,004,400
11
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
500,100 A shares of 0.0002p each
100
100
5,001,000 B shares of 0.0002p each
1,000
1,000
5,001,000 C shares of 0.0002p each
1,000
1,000
2,100
2,100
In the previous year all the ordinary shares of £0.0002 each were allotted and fully paid at a total premium of £168,000,000 for cash consideration to provide additional working capital.
The A, B and C shares have the following rights to income and capital:
The A shares are entitled to income distributions, capital distributions and capital proceeds on a sale of A shares upto £135,252,066 in aggregate. The B shares are entitled to income distributions, capital distributions and capital proceeds on a sale of B shares upto £17,120,515 after the holders of A shares have received £135,252,066 in aggregate. The C shares are entitled to income distributions, capital distributions and capital proceeds on a sale of C shares, after the holders of A shares and B shares have received £152,372,581 in aggregate.
12
Control
The company is under the control of its director, Mr D. Sullivan by virtue of his shareholding.
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