Company registration number 05555667 (England and Wales)
RICHARD BETHELL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
RICHARD BETHELL LIMITED
COMPANY INFORMATION
Director
Ms S Bethell
(Appointed 31 March 2025)
Secretary
Ms S Bethell
Company number
05555667
Registered office
Unit 10
Turner Trading Centre
Hen Lon Parcwr
Ruthin
Denbighshire
LL15 1NA
Accountants
Sage & Company Business Advisors Ltd
102 Bowen Court
St Asaph Business Park
St Asaph
Denbighshire
LL17 0JE
Business address
Unit 10
Turner Trading Centre
Hen Lon Parcwr
Ruthin
Denbighshire
LL15 1NA
RICHARD BETHELL LIMITED
CONTENTS
Page
Balance sheet
7 - 8
Notes to the financial statements
3 - 10
RICHARD BETHELL LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The director presents her annual report and financial statements for the year ended 30 September 2024.

Principal activities

The principal activity of the company continued to be that of manufacture of leather goods.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

R Bethell
(Deceased 5 February 2025)
Ms S Bethell
(Appointed 31 March 2025)
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Ms S Bethell
Director
27 May 2025
RICHARD BETHELL LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RICHARD BETHELL LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Richard Bethell Limited for the year ended 30 September 2024 set out on pages 7 to 10 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Richard Bethell Limited, as a body, in accordance with the terms of our engagement letter dated 30 September 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Richard Bethell Limited and state those matters that we have agreed to state to the board of directors of Richard Bethell Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Richard Bethell Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Richard Bethell 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 loss of Richard Bethell Limited. You consider that Richard Bethell 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 Richard Bethell 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.

Sage & Company Business Advisors Ltd
Chartered Accountants
102 Bowen Court
St Asaph Business Park
St Asaph
Denbighshire
LL17 0JE
27 May 2025
RICHARD BETHELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Richard Bethell Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 10, Turner Trading Centre, Hen Lon Parcwr, Ruthin, Denbighshire, LL15 1NA.

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

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that, with her continued support, the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

 

 

 

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

 

 

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

RICHARD BETHELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% RB
Fixtures, fittings & equipment
15% RB
Computer equipment
25% RB

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

 

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

 

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

RICHARD BETHELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

 

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any material unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

 

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

RICHARD BETHELL LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
2024
2023
Notes
£
£
Gross profit
83,896
48,621
Administrative expenses
(97,039)
(125,217)
Operating loss
(13,143)
(76,596)
Interest payable and similar expenses
(6)
(91)
Loss before taxation
(13,149)
(76,687)
Tax on loss
385
7,062
Loss for the financial year
(12,764)
(69,625)
Retained earnings brought forward
670
77,795
Dividends
-
0
(7,500)
Retained earnings carried forward
(12,094)
670

The profit and loss account has been prepared on the basis that all operations are continuing operations.

RICHARD BETHELL LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
3,819
4,078
Current assets
Stocks
10,332
26,779
Debtors
19,681
30,446
Cash at bank and in hand
11,121
1,918
41,134
59,143
Creditors: amounts falling due within one year
(55,992)
(61,431)
Net current liabilities
(14,858)
(2,288)
Total assets less current liabilities
(11,039)
1,790
Provisions for liabilities
(955)
(1,020)
Net (liabilities)/assets
(11,994)
770
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(12,094)
670
Total equity
(11,994)
770
RICHARD BETHELL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 8 -

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 May 2025 and are signed on its behalf by:
Ms S Bethell
Director
Company registration number 05555667 (England and Wales)
RICHARD BETHELL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 9 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
5
4
Intangible fixed assets
Total
£
Cost
At 1 October 2023 and 30 September 2024
16,500
Amortisation and impairment
At 1 October 2023 and 30 September 2024
16,500
Carrying amount
At 30 September 2024
-
0
At 30 September 2023
-
0
RICHARD BETHELL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 10 -
5
Tangible fixed assets
Total
£
Cost
At 1 October 2023
28,470
Additions
576
At 30 September 2024
29,046
Depreciation and impairment
At 1 October 2023
24,392
Depreciation charged in the year
835
At 30 September 2024
25,227
Carrying amount
At 30 September 2024
3,819
At 30 September 2023
4,078
RICHARD BETHELL LIMITED
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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