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REGISTERED NUMBER: 06812995 (England and Wales)














Unaudited Financial Statements for the Year Ended 31 March 2023

for

RIGHT CHOICE CONVEYANCING LTD

RIGHT CHOICE CONVEYANCING LTD (REGISTERED NUMBER: 06812995)






Contents of the Financial Statements
for the year ended 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RIGHT CHOICE CONVEYANCING LTD

Company Information
for the year ended 31 MARCH 2023







DIRECTORS: M S Crighton
J P Smith
A M Kettley
G R McLean
C M Fernandes





REGISTERED OFFICE: Thistledown Barn
Holcot Lane
Sywell
Northampton
Northamptonshire
NN6 0BG





REGISTERED NUMBER: 06812995 (England and Wales)





ACCOUNTANTS: Elsby & Co
Thistledown Barn
Holcot Lane
Sywell
Northampton
Northamptonshire
NN6 0BG

RIGHT CHOICE CONVEYANCING LTD (REGISTERED NUMBER: 06812995)

Balance Sheet
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,511 38,923

CURRENT ASSETS
Debtors 5 72,614 144,138
Cash at bank and in hand 718,583 730,663
791,197 874,801
CREDITORS
Amounts falling due within one year 6 243,129 331,222
NET CURRENT ASSETS 548,068 543,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

575,579

582,502

CREDITORS
Amounts falling due after more than one year 7 (104,167 ) (154,167 )

PROVISIONS FOR LIABILITIES (6,878 ) (7,395 )
NET ASSETS 464,534 420,940

CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 464,334 420,740
SHAREHOLDERS' FUNDS 464,534 420,940

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RIGHT CHOICE CONVEYANCING LTD (REGISTERED NUMBER: 06812995)

Balance Sheet - continued
31 MARCH 2023


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2023 and were signed on its behalf by:





J P Smith - Director


RIGHT CHOICE CONVEYANCING LTD (REGISTERED NUMBER: 06812995)

Notes to the Financial Statements
for the year ended 31 MARCH 2023

1. STATUTORY INFORMATION

Right Choice Conveyancing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES

The average number of employees during the year was 43 (2022 - 41 ) .

RIGHT CHOICE CONVEYANCING LTD (REGISTERED NUMBER: 06812995)

Notes to the Financial Statements - continued
for the year ended 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 April 2022
and 31 March 2023 262,483
DEPRECIATION
At 1 April 2022 223,560
Charge for year 11,412
At 31 March 2023 234,972
NET BOOK VALUE
At 31 March 2023 27,511
At 31 March 2022 38,923

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 31,373 66,699
Other debtors 41,241 77,439
72,614 144,138

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors 42,130 55,357
Taxation and social security 134,280 198,906
Other creditors 16,719 26,959
243,129 331,222

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 104,167 154,167

RIGHT CHOICE CONVEYANCING LTD (REGISTERED NUMBER: 06812995)

Notes to the Financial Statements - continued
for the year ended 31 MARCH 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 4,453 73,913
Between one and five years - 33,060
4,453 106,973

Total financial commitments which are not included in the balance sheet amount to £97,793 (2022 - £106,973)

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 154,167 204,167

National Westminster Bank plc holds a fixed and floating charge over the assets of Right Choice Conveyancing Ltd in respect of the loan facilities.

10. CALLED UP SHARE CAPITAL

Nominal
Number Class Value 2023 2022

102 Ordinary £1 102 102
98 Ordinary "A" £1 98 98
200 200

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
M S Crighton
Balance outstanding at start of year 6,905 26,382
Amounts advanced 96,545 128,523
Amounts repaid (103,500 ) (148,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (50 ) 6,905

RIGHT CHOICE CONVEYANCING LTD (REGISTERED NUMBER: 06812995)

Notes to the Financial Statements - continued
for the year ended 31 MARCH 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

J P Smith
Balance outstanding at start of year 6,291 30,567
Amounts advanced 96,455 96,474
Amounts repaid (103,500 ) (120,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (754 ) 6,291

Interest amounting to £0 (2022 - £337) has been charged during the year on overdrawn directors loan balances at the HMRC rate of 2% (2022 - 2.5%).