R&R Asset Management Ltd 09101090 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is as a family investment company. Digita Accounts Production Advanced 6.30.9574.0 true false true true true 09101090 2023-09-01 2024-08-31 09101090 2024-08-31 09101090 bus:OrdinaryShareClass1 2024-08-31 09101090 core:CurrentFinancialInstruments 2024-08-31 09101090 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 09101090 core:Non-currentFinancialInstruments 2024-08-31 09101090 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 09101090 core:FurnitureFittingsToolsEquipment 2024-08-31 09101090 bus:SmallEntities 2023-09-01 2024-08-31 09101090 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09101090 bus:FilletedAccounts 2023-09-01 2024-08-31 09101090 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09101090 bus:RegisteredOffice 2023-09-01 2024-08-31 09101090 bus:Director1 2023-09-01 2024-08-31 09101090 bus:Director2 2023-09-01 2024-08-31 09101090 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 09101090 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09101090 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 09101090 core:OfficeEquipment 2023-09-01 2024-08-31 09101090 core:Subsidiary1 2023-09-01 2024-08-31 09101090 core:Subsidiary1 1 2023-09-01 2024-08-31 09101090 core:Subsidiary1 countries:EnglandWales 2023-09-01 2024-08-31 09101090 core:Subsidiary2 2023-09-01 2024-08-31 09101090 core:Subsidiary2 1 2023-09-01 2024-08-31 09101090 core:Subsidiary2 countries:EnglandWales 2023-09-01 2024-08-31 09101090 countries:EnglandWales 2023-09-01 2024-08-31 09101090 2023-08-31 09101090 core:CostValuation 2023-08-31 09101090 core:FurnitureFittingsToolsEquipment 2023-08-31 09101090 2022-09-01 2023-08-31 09101090 2023-08-31 09101090 bus:OrdinaryShareClass1 2023-08-31 09101090 core:CurrentFinancialInstruments 2023-08-31 09101090 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 09101090 core:Non-currentFinancialInstruments 2023-08-31 09101090 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 09101090 core:FurnitureFittingsToolsEquipment 2023-08-31 09101090 core:RevaluationReserve 2022-09-01 2023-08-31 09101090 core:Subsidiary1 1 2022-09-01 2023-08-31 09101090 core:Subsidiary2 1 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09101090

R&R Asset Management Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

R&R Asset Management Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

R&R Asset Management Ltd

Company Information

Directors

Lord RS Ranger CBE

Lady R Ranger

Registered office

Sun House
428 Long Drive
Greenford
Middlesex
UB6 8UH

Accountants

Xeinadin London Ltd
26 High Street
Rickmansworth
Herts
WD3 1ER

 

R&R Asset Management Ltd

(Registration number: 09101090)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,940

3,459

Investments

5

13,495,250

13,495,250

 

13,498,190

13,498,709

Current assets

 

Debtors

6

5,594,530

8,576,617

Cash at bank and in hand

 

372,163

2,458,326

 

5,966,693

11,034,943

Creditors: Amounts falling due within one year

7

(5,592,500)

(10,663,875)

Net current assets

 

374,193

371,068

Total assets less current liabilities

 

13,872,383

13,869,777

Creditors: Amounts falling due after more than one year

7

(32,352)

(1,249)

Net assets

 

13,840,031

13,868,528

Capital and reserves

 

Called up share capital

8

13,495,100

13,495,100

Retained earnings

344,931

373,428

Shareholders' funds

 

13,840,031

13,868,528

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

R&R Asset Management Ltd

(Registration number: 09101090)
Balance Sheet as at 31 August 2024

Approved and authorised by the Board on 29 April 2025 and signed on its behalf by:
 

.........................................
Lady R Ranger
Director

 

R&R Asset Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sun House
428 Long Drive
Greenford
Middlesex
UB6 8UH
United Kingdom

These financial statements were authorised for issue by the Board on 29 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

R&R Asset Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipments

15% Written down value

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

R&R Asset Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 4).

 

R&R Asset Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

4,069

4,069

At 31 August 2024

4,069

4,069

Depreciation

At 1 September 2023

610

610

Charge for the year

519

519

At 31 August 2024

1,129

1,129

Carrying amount

At 31 August 2024

2,940

2,940

At 31 August 2023

3,459

3,459

5

Investments

2024
£

2023
£

Investments in subsidiaries

13,495,200

13,495,200

Investments in associates

50

50

13,495,250

13,495,250

Subsidiaries

£

Cost or valuation

At 1 September 2023

13,495,200

Carrying amount

At 31 August 2024

13,495,200

At 31 August 2023

13,495,200

 

R&R Asset Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Associates

£

Cost

At 1 September 2023

50

Carrying amount

At 31 August 2024

50

At 31 August 2023

50

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

R&R (Watford) Ltd

Sun House, 428 Long Drive, Greenford, Middlesex, United Kingdom, UB6 8UH

England and Wales

Ordinary shares

100%

100%

R&R (Greenford) LTD

Sun House, 428 Long Drive, Greenford, United Kingdom, UB6 8UH

England and Wales

Ordinary shares

100%

100%

Subsidiary undertakings

R&R (Watford) Ltd

The principal activity of R&R (Watford) Ltd is Investing in commercial property and buying and selling of own real estate.

R&R (Greenford) LTD

The principal activity of R&R (Greenford) LTD is Investing in commercial property and buying and selling of own real estate.

 

R&R Asset Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

699,226

309,226

Amounts owed by related parties

4,663,812

4,997,111

Prepayments

 

1,971

3,554

Other debtors

 

229,521

3,266,726

   

5,594,530

8,576,617

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

982,396

-

Trade creditors

 

27,369

149,444

Amounts owed to group undertakings and undertakings in which the company has a participating interest

(5,377,565)

10,514,982

Taxation and social security

 

124,458

-

Other creditors

 

9,835,842

(551)

 

5,592,500

10,663,875

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

13,495,100

13,495,100

13,495,100

13,495,100

       

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

 

R&R Asset Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

(57,010)

(57,010)

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

31,103

-

Current loans and borrowings

2024
£

2023
£

Other borrowings

982,396

-