RHU Investments Ltd |
Registered number: |
09262357 |
Balance Sheet |
as at 31 March 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
Restated |
£ |
£ |
Fixed assets |
Tangible assets |
4 |
|
|
1,064 |
|
|
2,128 |
|
Current assets |
Stocks |
|
|
156,158 |
|
|
201,673 |
Debtors |
5 |
|
1,198 |
|
|
750 |
Cash at bank and in hand |
|
|
5,043 |
|
|
10,635 |
|
|
|
162,399 |
|
|
213,058 |
|
Creditors: amounts falling due within one year |
6 |
|
(141,323) |
|
|
(68,422) |
|
Net current assets |
|
|
|
21,076 |
|
|
144,636 |
|
Total assets less current liabilities |
|
|
|
22,140 |
|
|
146,764 |
|
Creditors: amounts falling due after more than one year |
7 |
|
|
(340,581) |
|
|
(345,658) |
|
|
|
Net liabilities |
|
|
|
(318,441) |
|
|
(198,894) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
(318,443) |
|
|
(198,896) |
|
Shareholders' funds |
|
|
|
(318,441) |
|
|
(198,894) |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
S P Game |
Director |
Approved by the board on 23 April 2025 |
|
RHU Investments Ltd |
Notes to the Accounts |
for the year ended 31 March 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life. |
|
|
Plant and machinery |
straight line over 3 years |
|
|
Stocks |
|
Stocks are measured at the cost of open trading positions held at the balance sheet date. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
Taxation for the year comprises current and deferred tax. Current tax is recognised in the Profit & loss account at the amount of tax payable using current tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
|
2 |
Prior year adjustment |
|
|
The company commenced trading in stocks, shares and foreign currencies in January 2022 but the results of the trading activity for the 3 months ended 31 March 2022 were included in the financial statements for the year ended 31 March 2023 in error. Sales were understated by £17,015, cost of sales were understated by £15,333 and other operating income was understated by £297 resulting in an understatement of reserves amounting to £1,979 at 31 March 2022. Stocks were understated by £217,370, other debtors were understated by £53 and other creditors were understated by £215,444. The trading activities were incorrectly reported for the year to 31 March 2023 resulting in an overstatement of losses of £9,152 reflecting understated sales of £31,491,454, understated cost of sales of £31,471,753, understated overheads of £14,085 and understated other operating income £4,536. Stocks were understated by £201,673, other debtors were understated by £750, other creditors were understated by £191,291 and reserves were understated by £11,132. The comparative figures have been restated to reflect the adjusted results. |
|
3 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 April 2023 |
3,192 |
|
At 31 March 2024 |
3,192 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2023 |
1,064 |
|
Charge for the year |
1,064 |
|
At 31 March 2024 |
2,128 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2024 |
1,064 |
|
At 31 March 2023 |
2,128 |
|
|
5 |
Debtors |
2024 |
|
2023 |
Restated |
£ |
£ |
|
|
Other debtors |
1,198 |
|
750 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
Restated |
£ |
£ |
|
|
Trade creditors |
- |
|
3,100 |
|
Other creditors |
141,323 |
|
65,322 |
|
|
|
|
|
|
141,323 |
|
68,422 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
Restated |
£ |
£ |
|
|
Other creditors |
340,581 |
|
345,658 |
|
|
|
|
|
|
|
|
|
|
8 |
Related party transactions |
|
|
At 31 March 2024 the company owed £173,686 to one of the directors (2023: £210,204 as restated) and £166,895 to the other director (2023: £135,454 as restated). The loans are interest free and have no set repayment terms. |
|
9 |
Controlling party |
|
The company is controlled by the directors. |
|
10 |
Other information |
|
|
RHU Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
20 Wenlock Road |
|
London |
|
England |
|
N1 7GU |