Registration number:
Rightaction Group Limited
for the Year Ended 31 March 2022
Rightaction Group Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Rightaction Group Limited
Company Information
Directors |
Mr B Holden Mr D C Holden Mrs J Holden |
Company secretary |
Mr D C Holden |
Registered office |
|
Rightaction Group Limited
(Registration number: 10844904)
Balance Sheet as at 31 March 2022
Note |
2022 |
2021 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investments |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current (liabilities)/assets |
( |
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
- |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Revaluation reserve |
|
|
|
Retained earnings |
|
|
|
Shareholders' funds |
|
|
For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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
Rightaction Group Limited
(Registration number: 10844904)
Balance Sheet as at 31 March 2022
......................................... |
Rightaction Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
General information |
The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 10844904.
The address of its registered office is:
England
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
The financial statements have been prepared in sterling and are rounded to the nearest pound.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis. Specifically in connection with the current economic climate, the directors have considered the impact of COVID-19 on the business and they are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months. For this reason the financial statements have been prepared on a going concern basis.
Rightaction Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
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.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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.
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.
Borrowings
Rightaction Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
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.
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
Tangible assets |
Land and buildings |
Total |
|
Cost or valuation |
||
At 1 April 2021 |
|
|
At 31 March 2022 |
|
|
Depreciation |
||
Carrying amount |
||
At 31 March 2022 |
|
|
At 31 March 2021 |
|
|
Included within the net book value of land and buildings above is £300,000 (2021 - £300,000) in respect of freehold land and buildings.
Investments |
2022 |
2021 |
|
Investments in subsidiaries |
|
|
Rightaction Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Subsidiaries |
£ |
Cost or valuation |
|
At 1 April 2021 |
|
Provision |
|
Carrying amount |
|
At 31 March 2022 |
|
At 31 March 2021 |
|
Debtors |
Current |
Note |
2022 |
2021 |
Amounts owed by related parties |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
2021 |
|
Due within one year |
|||
Other loans |
|
|
|
Amounts owed from group undertakings |
|
- |
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
Accruals and deferred income |
1,346 |
1,112 |
|
|
|
||
Due after one year |
|||
Other loans |
- |
|
Creditors include a mortgage totalling £65,673 (2021 - £89,433).
This has been secured against the companies land and building.
Related party transactions |
The following advance to the director had no fixed repayment date and was unsecured. Interest has been charged at the official rate of interest.
Rightaction Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Transactions with Directors |
2022 |
At 1 April 2021 |
Advances to Director |
Repayments by Director |
At 31 March 2022 |
Mr B Holden |
||||
|
|
|
( |
|
2021 |
At 1 April 2020 |
Advances to Director |
Repayments by Director |
At 31 March 2021 |
Mr B Holden |
||||
|
- |
|
( |
|
Rightaction Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Summary of transactions with all subsidiaries
The company has taken advantage of exemption, under the terms of FRS102 'The Financial Reporting Standard applicable in the UK and Republic if Ireland' not to disclose related party transactions with wholly owned subsiduaries within the group.