1 January 2024 v2025.43.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP058033942024-01-012024-12-31058033942024-12-31058033942023-12-3105803394core:WithinOneYear2024-12-3105803394core:WithinOneYear2023-12-3105803394core:AfterOneYear2024-12-3105803394core:AfterOneYear2023-12-3105803394core:ShareCapital2024-12-3105803394core:ShareCapital2023-12-3105803394core:RetainedEarningsAccumulatedLosses2024-12-3105803394core:RetainedEarningsAccumulatedLosses2023-12-3105803394bus:Director12024-01-012024-12-3105803394bus:Director22024-01-012024-12-3105803394bus:RegisteredOffice2024-01-012024-12-3105803394core:NetGoodwill2024-01-012024-12-3105803394core:Goodwill2024-01-012024-12-31058033942023-01-012023-12-3105803394core:CostValuation2024-12-31058033942024-01-010580339412024-01-012024-12-3105803394countries:EnglandWales2024-01-012024-12-3105803394bus:AuditExemptWithAccountantsReport2024-01-012024-12-3105803394bus:PrivateLimitedCompanyLtd2024-01-012024-12-3105803394bus:SmallEntities2024-01-012024-12-3105803394bus:AbridgedAccounts2024-01-012024-12-31
Company registration number:
05803394
M & J Richards Holdings Limited
Unaudited Filleted Abridged Financial Statements for the year ended
31 December 2024
HOLLINGSWORTH & CO LTD
Coppice House, Halesfield 7, Telford, TF7 4NA, United Kingdom
M & J Richards Holdings Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of M & J Richards Holdings Limited
Year ended
31 December 2024
As described on the abridged statement of financial position, the Board of Directors of
M & J Richards Holdings Limited
are responsible for the preparation of the
abridged financial statements
for the year ended
31 December 2024
, which comprise the income statement, statement of income and retained earnings, abridged statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
HOLLINGSWORTH & CO LTD
Coppice House
Halesfield 7
Telford
TF7 4NA
United Kingdom
Date:
7 July 2025
M & J Richards Holdings Limited
Abridged Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Intangible assets 5
452,789
 
521,467
 
Investments 5
436,901
 
436,901
 
889,690
 
958,368
 
Current assets    
Debtors
55,669
 
106,284
 
Cash at bank and in hand
3,503
 
4,438
 
59,172
 
110,722
 
Creditors: amounts falling due within one year
(79,848
 )
(172,404
 )
Net current liabilities
(20,676
 )
(61,682
 )
Total assets less current liabilities 869,014   896,686  
Creditors: amounts falling due after more than one year
(187,920
 )
(245,709
 )
Net assets
681,094
 
650,977
 
Capital and reserves    
Called up share capital
5
 
5
 
Profit and loss account
681,089
 
650,972
 
Shareholders funds
681,094
 
650,977
 
For the year ending
31 December 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 abridged financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position for the year ended
31 December 2024
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged 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 income statement has not been delivered.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
7 July 2025
, and are signed on behalf of the board by:
Mr M Richards
Mrs J Richards
DirectorDirector
Company registration number:
05803394
M & J Richards Holdings Limited
Notes to the Abridged Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Coppice House
,
Halesfield 7
,
Telford
,
Shropshire
,
TF7 4NA
, .

2 Statement of compliance

These
abridged financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
10% straight line

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2.00
).

5 Fixed assets

Intangible assetsInvestments
££
Cost    
At
1 January 2024
and
31 December 2024
686,775
 
436,901
 
Amortisation and impairment    
At
1 January 2024
165,308
  -  
Charge
68,678
  -  
At
31 December 2024
233,986
  -  
Carrying amount    
At
31 December 2024
452,789
 
436,901
 
At 31 December 2023
521,467
 
436,901