REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2024 |
for |
H.V. Richmond Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2024 |
for |
H.V. Richmond Limited |
H.V. Richmond Limited (Registered number: 01388960) |
Contents of the Financial Statements |
for the Year Ended 30 November 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
H.V. Richmond Limited |
Company Information |
for the Year Ended 30 November 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Lake House |
Market Hill |
Royston |
Hertfordshire |
SG8 9JN |
H.V. Richmond Limited (Registered number: 01388960) |
Abridged Balance Sheet |
30 November 2024 |
30.11.24 | 30.11.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
PROVISIONS FOR LIABILITIES | 6 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
H.V. Richmond Limited (Registered number: 01388960) |
Abridged Balance Sheet - continued |
30 November 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
H.V. Richmond Limited (Registered number: 01388960) |
Notes to the Financial Statements |
for the Year Ended 30 November 2024 |
1. | STATUTORY INFORMATION |
H.V. Richmond Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents net invoiced sales of services, excluding value added tax. Turnover from the supply of services represents the value of services provided. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors. |
Tangible fixed assets |
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life. |
Plant and machinery - 10% on cost |
Coaches and motor vehicles - between 10% and 12.5% on cost |
Computer equipment - 25% on cost |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' 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. |
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs. |
Basic financial liabilities, including creditors and loans 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. |
H.V. Richmond Limited (Registered number: 01388960) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of the exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
H.V. Richmond Limited (Registered number: 01388960) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 December 2023 |
Additions |
Disposals | ( |
) |
At 30 November 2024 |
DEPRECIATION |
At 1 December 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
Included within the net book value of tangible fixed assets is £0 (2023: £627,264) in respect of assets held under hire purchase contracts. Depreciation for the twelve month period on these assets was £0 (2023: £71,842). |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.11.24 | 30.11.23 |
£ | £ |
Hire purchase contracts | - | 468,303 |
6. | PROVISIONS FOR LIABILITIES |
30.11.24 | 30.11.23 |
£ | £ |
Deferred tax | 627,493 | 565,149 |
Deferred |
tax |
£ |
Balance at 1 December 2023 |
Accelerated Capital Allowances | 65,453 |
Pension contributions | (3,109 | ) |
Balance at 30 November 2024 |
H.V. Richmond Limited (Registered number: 01388960) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.24 | 30.11.23 |
value: | £ | £ |
Ordinary | £1.00 | 100 | 100 |
8. | PENSION COMMITMENTS |
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £388,827 (2023 - £143,075). At the year end there was outstanding contributions of £29,382 (2023- £16,947). |
9. | CAPITAL COMMITMENTS |
30.11.24 | 30.11.23 |
£ | £ |
Contracted but not provided for in the |
financial statements |
10. | ULTIMATE CONTROLLING PARTY |
The parent company is Richmonds Holdings Limited, a company registered in England and Wales. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
H.V. Richmond Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of H.V. Richmond Limited for the year ended 30 November 2024 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of H.V. Richmond Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of H.V. Richmond Limited and state those matters that we have agreed to state to the Board of Directors of H.V. Richmond Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than H.V. Richmond Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that H.V. Richmond Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of H.V. Richmond Limited. You consider that H.V. Richmond Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of H.V. Richmond Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Lake House |
Market Hill |
Royston |
Hertfordshire |
SG8 9JN |