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REGISTERED NUMBER: 10230055 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Richard Borrington Limited

Richard Borrington Limited (Registered number: 10230055)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Richard Borrington Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: R J Borrington





REGISTERED OFFICE: 9 Grove Court
Grove Park
Enderby
Leicester
LE19 1SA





REGISTERED NUMBER: 10230055 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Richard Borrington Limited (Registered number: 10230055)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,262,967 394,366
Tangible assets 5 27,184 43,148
Investments 6 546,826 345,751
1,836,977 783,265

CURRENT ASSETS
Debtors 7 97,210 93,344
Cash at bank 114,475 226,652
211,685 319,996
CREDITORS
Amounts falling due within one year 8 397,750 196,033
NET CURRENT (LIABILITIES)/ASSETS (186,065 ) 123,963
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,650,912

907,228

CREDITORS
Amounts falling due after more than one
year

9

895,799

257,737
NET ASSETS 755,113 649,491

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 755,013 649,391
SHAREHOLDERS' FUNDS 755,113 649,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Richard Borrington Limited (Registered number: 10230055)

Balance Sheet - continued
31 October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 April 2025 and were signed by:





R J Borrington - Director


Richard Borrington Limited (Registered number: 10230055)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Richard Borrington Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Richard Borrington Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents a share of partnership profits, which are recognised in the period in which the profits were earned.

Goodwill
Goodwill is being amortised evenly over is estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on cost
Motor vehicles - 33% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those under hire purchase contracts are depreciated over their estimated useful lives. Those under finance leases are depreciated over their estimated useful lives of the lease term, whichever is shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Fixed asset investments
Unlisted investments are stated at cost less impairment as the fair value cannot be measured reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Richard Borrington Limited (Registered number: 10230055)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023 996,941
Additions 1,000,057
At 31 October 2024 1,996,998
AMORTISATION
At 1 November 2023 602,575
Charge for year 131,456
At 31 October 2024 734,031
NET BOOK VALUE
At 31 October 2024 1,262,967
At 31 October 2023 394,366

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2023 3,147 47,000 2,442 52,589
Additions - - 1,086 1,086
At 31 October 2024 3,147 47,000 3,528 53,675
DEPRECIATION
At 1 November 2023 993 6,528 1,920 9,441
Charge for year 787 15,666 597 17,050
At 31 October 2024 1,780 22,194 2,517 26,491
NET BOOK VALUE
At 31 October 2024 1,367 24,806 1,011 27,184
At 31 October 2023 2,154 40,472 522 43,148

The net book value of tangible fixed assets includes £ 24,806 (2023 - £ 40,472 ) in respect of assets held under hire purchase contracts.

Richard Borrington Limited (Registered number: 10230055)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 November 2023 1 345,750 345,751
Additions 1,312,570 201,075 1,513,645
Impairments (1,312,570 ) - (1,312,570 )
At 31 October 2024 1 546,825 546,826
NET BOOK VALUE
At 31 October 2024 1 546,825 546,826
At 31 October 2023 1 345,750 345,751

The company entered in to a tripartite agreement, such that the assets of an unlisted investment (which was placed in to a members' voluntary liquidation) were transferred to RB 2016 Limited (a company in which Richard Borrington Limited is a 100% shareholder) in exchange for 1,312,570 £1 Ordinary shares.

RB 2016 Limited then distributed the assets by way of a dividend in specie to the company and the investment in RB 2016 Limited was subsequently written down.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 97,210 93,344

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 280,511 103,435
Hire purchase contracts 3,132 1,417
Tax 108,609 84,528
Other creditors 227 257
Director's current account 2,969 4,296
Accrued expenses 2,302 2,100
397,750 196,033

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans - 1-2 years 290,782 107,917
Other loans - 2-5 years 570,924 112,594
Hire purchase contracts 34,093 37,226
895,799 257,737

Richard Borrington Limited (Registered number: 10230055)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 37,225 38,643

Amounts owed under hire purchase contracts are secured on the assets to which they relate.