Company Registration No. 11043203 (England and Wales)
NEW RICKLEFORD LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
NEW RICKLEFORD LTD
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
NEW RICKLEFORD LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Current assets
Trade and other receivables
5
136,053,342
129,697,361
Cash and cash equivalents
4,934,362
8,317,170
140,987,704
138,014,531
Current liabilities
6
(601,335)
(1,101,450)
Net current assets
140,386,369
136,913,081
Equity
Called up share capital
7
101
101
Share premium account
8
79,099,553
79,099,553
Retained earnings
61,286,715
57,813,427
Total equity
140,386,369
136,913,081
For the financial year ended 30 November 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 his 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.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 25 August 2025
Mr David Sullivan
Director
Company registration number 11043203 (England and Wales)
NEW RICKLEFORD LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
Share capital
Share premium account
Retained earnings
Total
Notes
£
£
£
£
Balance at 1 December 2022
101
129,099,553
2,154,979
131,254,633
Year ended 30 November 2023:
Profit and total comprehensive income for the year
-
-
5,658,448
5,658,448
Reduction of shares
8
(50,000,000)
50,000,000
-
Balance at 30 November 2023
101
79,099,553
57,813,427
136,913,081
Year ended 30 November 2024:
Profit and total comprehensive income for the year
-
-
3,473,288
3,473,288
Balance at 30 November 2024
101
79,099,553
61,286,715
140,386,369
NEW RICKLEFORD LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Company information
New Rickleford Ltd is a private company limited by shares incorporated in England and Wales with Company Registration Number 11043203. The registered office is 4th Floor, Ramillies House, 2 Ramillies Street, London W1F 7LN.
2
Compliance with accounting standard
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.
There were no material departures from the standard.
3
Accounting policies
3.1
Accounting convention
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. The principal accounting policies adopted are set out below.
3.2
Revenue
Turnover represents amounts of interest and arrangement fees receivable from providing finance.
3.3
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. Bank overdrafts are shown within borrowings in current liabilities.
3.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest, unless the debt is provided by the director when they are carried at the transaction amount. Financial assets classified as receivable within one year are not amortised.
NEW RICKLEFORD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
3
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares 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.
3.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
3.6
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 income statement 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.
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between treatment of certain items for accounts purposes and their treatment for tax purposes.
Tax deferred or accelerated is accounted for in respect of all material timing difference.
During the year, no deferred tax provision was required.
4
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
NEW RICKLEFORD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
5
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
3,132,990
3,777,009
Amounts falling due after more than one year:
Trade receivables
132,920,352
125,920,352
Total debtors
136,053,342
129,697,361
Trade receivables less than one year include interest income receivable within a year. Trade receivables more than one year include capital loans and interest receivable due more than one year. These loans are receivable from associated companies.
6
Current liabilities
2024
2023
£
£
Corporation tax
547,635
1,051,500
Other payables
53,700
49,950
601,335
1,101,450
7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary share of £1 each
101
101
8
Share premium account
Last year, the company carried out a significant restructuring of its equity and reserves, which included a £50 million reduction in share premium to increase its distributable reserve.
9
Corresponding amounts
In certain cases, the director has reanalysed the corresponding amounts in order to make their disclosure more meaningful. This related to interest amounting to £3.23m due from an associated company which was reclassified from trade receivables due less than 1 year to trade receivable more than 1 year.
NEW RICKLEFORD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
10
Parent company
As at the year end, the company is under the control of Rickleford Group Limited, a company registered in England and Wales with registration number 11087869, by virtue of its shareholding.
11
Related party transactions
The company has taken advantage of the exemption in FRS102 33.1A not to disclose transactions between associated companies, unless considered significant or material.
The material related party transactions for the year ended 30th November 2024 were:
- An amount of £53.2m (2023: £53.2m) which included loan capital and interest, due from GC Co No.103 Ltd, a company controlled by the director has been shown within trade receivables
- An amount of £14.7m (2023: £14.7m), which included loan capital only, due from Conegate (2006) Ltd, a company controlled by the director has been shown within trade receivables
- An amount of £68.1m (2023: £61.8m), which included loan capital and interest, due from Conegate Ltd, a company controlled by the director has been shown within trade receivables