Richards Family Holdings Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Richards Family Holdings Limited

Balance Sheet

31 March 2025

	Note	31 March 2025 £	31 March 2024 £
Fixed assets
Investments	4	6,800,900	6,800,900
Current assets
Debtors	5	5,775,718	5,779,074
Creditors: Amounts falling due within one year	6	(4,500)	(4,500)
Net current assets		5,771,218	5,774,574
Net assets		12,572,118	12,575,474
Capital and reserves
Called up share capital	7	100	100
Share premium reserve		3,600,890	3,600,890
Profit and loss account		8,971,128	8,974,484
Shareholders' funds		12,572,118	12,575,474

Richards Family Holdings Limited

Balance Sheet

31 March 2025

For the financial year ending 31 March 2025 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 21 October 2025 and signed on its behalf by:
 

......................................... D P Richards Director

Company Registration Number: 10690127

Richards Family Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

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:
Prodrive Headquarters
Chalker Way
Oxfordshire
OX16 4XD

These financial statements were authorised for issue by the Board on 21 October 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in pounds sterling which is the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest pound.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Group accounts not prepared

Richards Family Holdings Limited has claimed exemption from the preparation of group accounts on the basis that the group that it is a head of is small.

Going concern

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

Revenue recognition

Dividends receivable from investments are recognised in the financial statements when receivable, being the point at which the dividend has been declared and the company has accrued an entitlement.

Richards Family Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

Finance income and costs policy

Interest receivable on loans to related parties is recognised on an accruals basis.

Interest payable on other loans is also recognised on an accruals basis.

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 corporation 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.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investments

Investments are recognised in the financial statements at cost less accumulated impairment.

Financial instruments

Classification
The company holds the following financial instruments:

• Amounts due from related parties; and
• Cash and bank balances, and
• Other loans

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled. Instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

Richards Family Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

Critical judgements and estimation uncertainty

In applying the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key areas where judgements have been made in the financial statements are as follows:

a) Carrying value of fixed asset investments (note 4)
At the balance sheet date the company has investments in related companies of £6,800,900 (2024 - £6,800,900).

The Directors have considered if there are any factors which would suggest an impairment in the carrying value of investments. Expectations over the viability and expected future performance of the related companies and their wider groups are such that no impairment has been identified.

b) Recoverability of amounts due from related parties (note 5)
At the balance sheet date the company was due £5,775,718 (2024 - £5,775,598) from related parties.

The directors have considered the recoverability of these loan balances and in their assessment these balances remain wholly recoverable with no provision being required at the balance sheet date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Richards Family Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

4	Investments

	31 March 2025 £	31 March 2024 £
Investments in subsidiaries	3,200,000	3,200,000
Other unlisted investments	3,600,900	3,600,900
	6,800,900	6,800,900