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REGISTERED NUMBER: 08353604 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Ricsan Properties Limited

Ricsan Properties Limited (Registered number: 08353604)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ricsan Properties Limited

Company Information
for the year ended 31 January 2023







DIRECTORS: R L Gough
Mrs S J Gough



REGISTERED OFFICE: Fenemere Manor
Fenemere, Baschurch
Shrewsbury
Shropshire
SY4 2JG



REGISTERED NUMBER: 08353604 (England and Wales)



ACCOUNTANTS: Caerwyn Jones
Chartered Accountants
Emstrey House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG



BANKERS: Handelsbanken
Michael Place
Anchorage Avenue
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

Ricsan Properties Limited (Registered number: 08353604)

Statement of Financial Position
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,961 2,450
Investment property 5 307,915 307,915
309,876 310,365

CURRENT ASSETS
Inventories 431,118 368,598
Debtors 6 3,189 1,745
Cash at bank 544,200 513,080
978,507 883,423
CREDITORS
Amounts falling due within one year 7 351,036 427,262
NET CURRENT ASSETS 627,471 456,161
TOTAL ASSETS LESS CURRENT
LIABILITIES

937,347

766,526

PROVISIONS FOR LIABILITIES 373 466
NET ASSETS 936,974 766,060

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 936,972 766,058
SHAREHOLDERS' FUNDS 936,974 766,060

Ricsan Properties Limited (Registered number: 08353604)

Statement of Financial Position - continued
31 January 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:





R L Gough - Director


Ricsan Properties Limited (Registered number: 08353604)

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

1. STATUTORY INFORMATION

Ricsan Properties Limited 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
Revenue 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.
Plant and machinery - 20% on reducing balance
Computer equipment - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.


Ricsan Properties Limited (Registered number: 08353604)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 5,919 525 6,444
DEPRECIATION
At 1 February 2022 3,469 525 3,994
Charge for year 489 - 489
At 31 January 2023 3,958 525 4,483
NET BOOK VALUE
At 31 January 2023 1,961 - 1,961
At 31 January 2022 2,450 - 2,450

Ricsan Properties Limited (Registered number: 08353604)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 307,915
NET BOOK VALUE
At 31 January 2023 307,915
At 31 January 2022 307,915

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 428 366
Other debtors 2,761 1,379
3,189 1,745

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,125 28,262
Taxation and social security 40,184 1,256
Other creditors 306,727 397,744
351,036 427,262

8. RELATED PARTY DISCLOSURES

Included in creditors due within one year are amounts due to the directors of £304,009 (2022 £381,172). These amounts are repayable on demand. During the year no interest was paid on the balance.