Company registration number 11965551 (England and Wales)
RBG INVESTMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
RBG INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
RBG INVESTMENTS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
1,713,000
1,268,000
Current assets
Debtors
5
47,032
979
Creditors: amounts falling due within one year
6
(2,236,009)
(2,212,682)
Net current liabilities
(2,188,977)
(2,211,703)
Net liabilities
(475,977)
(943,703)
Capital and reserves
Called up share capital
600,103
103
Profit and loss reserves
(1,076,080)
(943,806)
Total equity
(475,977)
(943,703)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
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 20 January 2025
Miss K Angove
Director
Company registration number 11965551 (England and Wales)
RBG INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
RBG Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 5b The Parklands, Middlebrook, Bolton, BL6 4SD.
1.1
Accounting convention
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.
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.
1.2
Going concern
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future based on cashflow forecasts and support guaranteed by the ultimate controlling party, who have also confirmed they will not recall or reduce existing facilities in this period. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern in relation to the net liability position. true
1.3
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.
1.4
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.
1.5
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 balance sheet 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.
RBG INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors 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.
Basic financial liabilities
Basic financial liabilities, including creditors, 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 creditors 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
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.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
RBG INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1,713,000
1,268,000
Realbuzz Group Limited
Registered office: 4th Floor, 5b The Parklands, Middlebrook, Bolton, England, BL6 4SD
Nature of business Sporting event company
Class of shares: % Holding
Ordinary:100.00
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 May 2023
1,268,000
Additions
445,000
At 30 April 2024
1,713,000
Carrying amount
At 30 April 2024
1,713,000
At 30 April 2023
1,268,000
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
47,032
979
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
242,329
300,000
Other creditors
1,993,680
1,912,682
2,236,009
2,212,682
There are fixed and floating charges registered against all property of the company. The persons entitled are Claire Hughes and Richard Hughes.
RBG INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
We draw attention to note 1.2 of the financial statements, which details that directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern in relation to the net liability position. Our opinion is not modified in respect of this matter.
Senior Statutory Auditor:
Stephanie Baker BA(Hons) ACA
Statutory Auditor:
Xeinadin Audit Limited
Date of audit report:
20 January 2025
8
Related party transactions
Included within debtors is an amount of £46,929 (2023: £875) owed by Realbuzz Group Limited, whose ultimate controlling party is R Hughes.
Included within creditors is an amount of £242,329 (2023: £300,000) owed to ESI marketing Services Limited, a related company of RBG Investments Limited via its mutual controlling party of R Hughes.