Registration number:
R&R Asset Management Ltd
for the Year Ended 31 August 2019
R&R Asset Management Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
R&R Asset Management Ltd
Company Information
Directors |
Lord RS Ranger CBE Lady R Ranger Mr HS Ahuja |
Registered office |
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Accountants |
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R&R Asset Management Ltd
(Registration number: 09101090)
Balance Sheet as at 31 August 2019
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2019 |
(As restated) |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Fair value reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
R&R Asset Management Ltd
(Registration number: 09101090)
Balance Sheet as at 31 August 2019
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Director
R&R Asset Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tax
The tax expense for the period comprises current 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 income 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.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
R&R Asset Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2019
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
R&R Asset Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2019
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2019 |
(As restated) |
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Investments in subsidiaries |
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Investments in associates |
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Subsidiaries |
£ |
Cost or valuation |
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Additions |
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Carrying amount |
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At 31 August 2019 |
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Associates |
£ |
Cost |
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At 1 September 2018 |
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Additions |
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Disposals |
( |
At 31 August 2019 |
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Carrying amount |
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At 31 August 2019 |
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At 31 August 2018 |
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Aggregate financial information of associates
2019 |
2018 |
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
R&R Asset Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2019
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2019 |
2018 |
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Subsidiary undertakings |
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Sun House, 428 Long Drive, Greenford, Middlesex, United Kingdom, UB6 8UH England and Wales |
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Sun House, 428 Long Drive, Greenford, United Kingdom, UB6 8UH England and Wales |
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Associates |
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428 Long Drive, Greenford, England, UB6 8UH |
ordinary shares |
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England and Wales |
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428 Long Drive, Greenford, England, UB6 8UH |
ordinary shares |
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England and Wales |
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65-67 Clarendon Road, Watford, England, WD17 1DS |
ordinary |
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England and Wales |
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65-67 Clarendon Road, Watford, England, WD17 1DS |
ordinary shares |
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England and Wales |
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65-67 Clarendon Road, Watford, WD17 1DS |
Ordinary shares |
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England and Wales |
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65-67 Clarendon Road, Watford, WD17 1DS |
Ordinary shares |
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England and Wales |
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65-67 Clarendon Road, Watford, WD17 1DS |
Ordinary Shares |
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England Wales |
Subsidiary undertakings |
R&R (Watford) Ltd The principal activity of R&R (Watford) Ltd is |
R&R (Greenford) LTD The principal activity of R&R (Greenford) LTD is |
R&R Asset Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2019
Associates |
Sarr Hotels Noke Ltd The principal activity of Sarr Hotels Noke Ltd is |
Sarr Hotels Ltd The principal activity of Sarr Hotels Ltd is |
Sarr Heathrow Ltd The principal activity of Sarr Heathrow Ltd is |
Sarr Gatwick Hotel Ltd The principal activity of Sarr Gatwick Hotel Ltd is |
Nine Hotel Ventures Ltd The principal activity of Nine Hotel Ventures Ltd is |
Nine Development JV Ltd The principal activity of Nine Development JV Ltd is |
Nine Hotel Investments Ltd The principal activity of Nine Hotel Investments Ltd is |
Debtors |
Note |
2019 |
(As restated) |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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R&R Asset Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2019
Creditors |
Creditors: amounts falling due within one year
2019 |
2018 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2019 |
(As restated) |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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13,495,100 |
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100.00 |
Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:
Revaluation reserve |
Total |
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Surplus/(deficit) on revaluation of other assets |
( |
( |
The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:
R&R Asset Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2019
Revaluation reserve |
Total |
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Surplus/(deficit) on revaluation of other assets |
( |
( |
Loans and borrowings |
2019 |
(As restated) |
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Non-current loans and borrowings |
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Other borrowings |
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