Company registration number 05989655 (England and Wales)
RHP MERCHANTS AND CONSTRUCTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
RHP MERCHANTS AND CONSTRUCTION LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
RHP MERCHANTS AND CONSTRUCTION LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
CURRENT ASSETS
Debtors
3
153,283
145,023
Cash at bank and in hand
17
136
153,300
145,159
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
4
(639,837)
(617,334)
NET CURRENT LIABILITIES
(486,537)
(472,175)
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
5
(32,677)
(42,262)
NET LIABILITIES
(519,214)
(514,437)
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss reserves
(519,215)
(514,438)
TOTAL EQUITY
(519,214)
(514,437)
The director of the company has elected not to include a copy of the profit and loss account 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.
RHP MERCHANTS AND CONSTRUCTION LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 19 February 2025
Richard Hayward
Director
Company registration number 05989655 (England and Wales)
RHP MERCHANTS AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
ACCOUNTING POLICIES
Company information
RHP Merchants and Construction Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Beachcliff, The Esplanade, Penarth, Wales, CF64 3AS.
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
The accounts show the company had net liabilities of £519,214 at the balance sheet date. The director has therefore had to consider the appropriateness of the going concern basis.
The company has been able to finance its operations largely because of support from the director and other creditors. Were this support not available, the company may not be able to continue trading.
The director is confident that the company will be able to meet its obligations for at least the next twelve months with the continuing support of these creditors. He therefore considers it appropriate to prepare the accounts on the going concern basis.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable and represents amounts receivable for property sales & maintenance work, stated net of discounts and of value added tax.
1.4
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 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.
RHP MERCHANTS AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
2
EMPLOYEES
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
DEBTORS
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,986
3,431
Other debtors
150,297
141,592
153,283
145,023
4
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
£
£
Bank loans
7,342
5,000
Trade creditors
6,655
18,405
Taxation and social security
16,149
710
Other creditors
609,691
593,219
639,837
617,334
5
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023
2022
£
£
Bank loans and overdrafts
32,677
42,262
6
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
Included within creditors is a balance of £547,720 (2022- £525,837) due to the director. This balance is interest free and repayable on demand.