Richmond Towers Communications Limited
(trading as Richmond & Towers)
Unaudited Financial Statements
For Filing with Registrar
For the year ended 30 June 2025
Company Registration No. 05452146 (England and Wales)
Richmond Towers Communications Limited
Contents
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 10
Richmond Towers Communications Limited
Balance Sheet
As at 30 June 2025
Page 1
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
6,809
14,372
Tangible assets
4
74,564
107,958
Current assets
Debtors
6
889,158
812,101
Cash at bank and in hand
665,007
392,822
1,554,165
1,204,923
Creditors: amounts falling due within one year
7
(1,249,903)
(917,787)
Net current assets
304,262
287,136
Total assets less current liabilities
385,635
409,466
Creditors: amounts falling due after more than one year
8
(16,667)
(66,667)
Provisions for liabilities
-
0
(10,521)
Net assets
368,968
332,278
Capital and reserves
Called up share capital
9
94,671
94,671
Share premium account
26,204
26,204
Capital redemption reserve
75,000
75,000
Profit and loss reserves
173,093
136,403
Total equity
368,968
332,278

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

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Richmond Towers Communications Limited
Balance Sheet (Continued)
As at 30 June 2025
Page 2
The financial statements were approved by the board of directors and authorised for issue on 3 December 2025 and are signed on its behalf by:
N Thomson
M De Leon
Director
Director
Company Registration No. 05452146
Richmond Towers Communications Limited
Statement of Changes in Equity
For the year ended 30 June 2025
Page 3
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 July 2023
94,671
26,204
75,000
377,965
573,840
Year ended 30 June 2024:
Profit and total comprehensive income for the year
-
-
-
53,995
53,995
Dividends
-
-
-
(295,557)
(295,557)
Balance at 30 June 2024
94,671
26,204
75,000
136,403
332,278
Year ended 30 June 2025:
Profit and total comprehensive income for the year
-
-
-
234,467
234,467
Dividends
-
-
-
(197,777)
(197,777)
Balance at 30 June 2025
94,671
26,204
75,000
173,093
368,968
Richmond Towers Communications Limited
Notes to the Financial Statements
For the year ended 30 June 2025
Page 4
1
Accounting policies
Company information

Richmond Towers Communications Limited is a private company limited by shares incorporated in England and Wales. The registered office is 69 Turnmill Street, London, England, EC1M 5RR.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts 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.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors believe that the company will have sufficient funds to settle all of its liabilities as they fall due for at least 12 months from signing the accounts. true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

Richmond Towers Communications Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2025
1
Accounting policies
(Continued)
Page 5
1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Amortisation 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:

Software
25% straight line
Development Costs
20% straight line
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.

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:

Leasehold improvements
33.33% reducing balance
Fixtures, fittings & equipment
25% straight line
Computer equipment
25% straight line

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
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.7
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.

1.8
Financial instruments

The company only has basic financial instruments measured at amortised cost with no financial instrument classified as other or basic instruments at fair value.

Richmond Towers Communications Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2025
1
Accounting policies
(Continued)
Page 6
1.9
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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.10
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.

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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
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 unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

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

Richmond Towers Communications Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2025
1
Accounting policies
(Continued)
Page 7
1.13
Leases

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 lease s asset are consumed.

1.14
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.

2
Employees

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

2025
2024
Number
Number
Total
25
24
3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 July 2024 and 30 June 2025
1,004,211
30,250
1,034,461
Amortisation and impairment
At 1 July 2024
1,004,211
15,878
1,020,089
Amortisation charged for the year
-
0
7,563
7,563
At 30 June 2025
1,004,211
23,441
1,027,652
Carrying amount
At 30 June 2025
-
0
6,809
6,809
At 30 June 2024
-
0
14,372
14,372

Richmond Towers Communications Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2025
Page 8
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2024
140,200
37,994
178,194
Additions
1,022
13,617
14,639
Disposals
-
0
(815)
(815)
At 30 June 2025
141,222
50,796
192,018
Depreciation and impairment
At 1 July 2024
48,631
21,605
70,236
Depreciation charged in the year
35,176
12,450
47,626
Eliminated in respect of disposals
-
0
(408)
(408)
At 30 June 2025
83,807
33,647
117,454
Carrying amount
At 30 June 2025
57,415
17,149
74,564
At 30 June 2024
91,569
16,389
107,958
5
Subsidiaries

Details of the company's subsidiaries at 30 June 2025 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Richmond Towers Limited
69 Turnmill Street, London, England, EC1M 5RR
Dormant
Ordinary
100.00
0
Richmond Towers Communications Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2025
Page 9
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
709,057
671,367
Other debtors
178,228
140,734
887,285
812,101
Amounts falling due after more than one year:
Deferred tax asset
1,873
-
0
Total debtors
889,158
812,101

Other debtors include an amount of £29,632 (2024: £29,632) which is due after more than one year.

7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
319,731
191,899
Amounts owed to group undertakings
20,002
20,002
Corporation tax
84,294
31,141
Other taxation and social security
175,005
139,210
Other creditors
50,000
50,000
Accruals and deferred income
600,871
485,535
1,249,903
917,787

Barclays Bank PLC hold fixed and floating charges over balances tota l ling £1 6,667 (202 4: £6 6,667).

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
16,667
66,667
Richmond Towers Communications Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2025
Page 10
9
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
94,671 Ordinary shares of £1 each
94,671
94,671

The company‘s ordinary shares, which carry no right to fixed income, each carry the right to one vote at general meetings of the Company.

10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Within one year
74,081
98,775
Between two and five years
-
0
74,081
74,081
172,856
11
Related party transactions

The company has taken the exemption under Section 33 Related Party Disclosures paragraph 33.1A from disclosing transactions with other members of a wholly owned group.

12
Controlling party

The entire share capital of Richmond Towers Communications Limited was purchased by the Suzanne Richmond & Marjorie Towers Employee Ownership Trust on 9 October 2019.

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