Ryzex Limited 08888912 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is property management. Digita Accounts Production Advanced 6.30.9574.0 true 08888912 2022-02-01 2023-01-31 08888912 2023-01-31 08888912 core:CurrentFinancialInstruments 2023-01-31 08888912 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 08888912 core:FurnitureFittingsToolsEquipment 2023-01-31 08888912 bus:SmallEntities 2022-02-01 2023-01-31 08888912 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 08888912 bus:FullAccounts 2022-02-01 2023-01-31 08888912 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 08888912 bus:RegisteredOffice 2022-02-01 2023-01-31 08888912 bus:Director1 2022-02-01 2023-01-31 08888912 bus:Director3 2022-02-01 2023-01-31 08888912 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 08888912 core:ComputerEquipment 2022-02-01 2023-01-31 08888912 core:FurnitureFittings 2022-02-01 2023-01-31 08888912 core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 08888912 core:OfficeEquipment 2022-02-01 2023-01-31 08888912 countries:EnglandWales 2022-02-01 2023-01-31 08888912 2022-01-31 08888912 core:FurnitureFittingsToolsEquipment 2022-01-31 08888912 2021-02-01 2022-01-31 08888912 2022-01-31 08888912 core:CurrentFinancialInstruments 2022-01-31 08888912 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 08888912 core:FurnitureFittingsToolsEquipment 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 08888912

Ryzex Limited

Annual Report and Unaudited Financial Statements

for the year ended 31 January 2023

 

Ryzex Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Ryzex Limited

(Registration number: 08888912)
Statement of Financial Position
31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

6,650

6,345

Investment property

5

600,000

441,557

 

606,650

447,902

Current assets

 

Debtors

6

135

54

Cash at bank and in hand

 

30,537

19,625

 

30,672

19,679

Creditors: Amounts falling due within one year

7

(18,282)

(18,487)

Net current assets

 

12,390

1,192

Net assets

 

619,040

449,094

Capital and reserves

 

Called up share capital

2

2

Retained earnings

619,038

449,092

Shareholders' funds

 

619,040

449,094

For the financial year ending 31 January 2023 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 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Ryzex Limited

(Registration number: 08888912)
Statement of Financial Position
31 January 2023

Approved and authorised by the Board on 27 July 2023 and signed on its behalf by:
 

.........................................
J E Davey
Director

.........................................
J S Davey
Director

 

Ryzex Limited

Notes to the Unaudited Financial Statements
for the year ended 31 January 2023

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:
Wiston House
1 Wiston Avenue
Worthing
West Sussex
BN14 7QL
United Kingdom

These financial statements were authorised for issue by the Board on 27 July 2023.

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 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

 

Ryzex Limited

Notes to the Unaudited Financial Statements
for the year ended 31 January 2023

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance

Office equipment

over 5 years

Computer equipment

over 2 years

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

Ryzex Limited

Notes to the Unaudited Financial Statements
for the year ended 31 January 2023

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Ryzex Limited

Notes to the Unaudited Financial Statements
for the year ended 31 January 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

19,648

19,648

Additions

1,283

1,283

At 31 January 2023

20,931

20,931

Depreciation

At 1 February 2022

13,303

13,303

Charge for the year

978

978

At 31 January 2023

14,281

14,281

Carrying amount

At 31 January 2023

6,650

6,650

At 31 January 2022

6,345

6,345

5

Investment properties

2023
£

At 1 February

441,557

Fair value adjustments

158,443

At 31 January

600,000

6

Debtors

Current

2023
£

2022
£

Prepayments

135

54

 

Ryzex Limited

Notes to the Unaudited Financial Statements
for the year ended 31 January 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

2,574

2,856

Accruals and deferred income

708

630

Other creditors

15,000

15,001

18,282

18,487