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REGISTERED NUMBER: 09717165 (England and Wales)














RICHARD VALENCIA LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2023






RICHARD VALENCIA LIMITED (REGISTERED NUMBER: 09717165)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RICHARD VALENCIA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2023







DIRECTORS: R. Valencia
J.A. Valencia



SECRETARY: J.A. Valencia



REGISTERED OFFICE: 137, Station Road,
Chingford,
London
E4 6AG



REGISTERED NUMBER: 09717165 (England and Wales)



ACCOUNTANTS: Cobbin Floyd Ltd
t/a Findlay Wetherfield Scott & Co.,
Chartered Accountants
137, Station Road,
Chingford,
London
E4 6AG



BANKERS: National Westminster Bank plc.,
88, Station Road,
Chingford,
London,
E4 7BA

RICHARD VALENCIA LIMITED (REGISTERED NUMBER: 09717165)

BALANCE SHEET
31ST AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,085 7,667

CURRENT ASSETS
Debtors 5 18,235 25,558
Cash at bank 765,624 706,640
783,859 732,198
CREDITORS
Amounts falling due within one year 6 204,784 185,933
NET CURRENT ASSETS 579,075 546,265
TOTAL ASSETS LESS CURRENT
LIABILITIES

598,160

553,932

PROVISIONS FOR LIABILITIES 4,485 1,457
NET ASSETS 593,675 552,475

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 593,575 552,375
SHAREHOLDERS' FUNDS 593,675 552,475

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

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

RICHARD VALENCIA LIMITED (REGISTERED NUMBER: 09717165)

BALANCE SHEET - continued
31ST AUGUST 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th November 2023 and were signed on its behalf by:




R. Valencia - Director



J.A. Valencia - Director


RICHARD VALENCIA LIMITED (REGISTERED NUMBER: 09717165)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023

1. STATUTORY INFORMATION

Richard Valencia 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
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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 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.

3. EMPLOYEES AND DIRECTORS

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

RICHARD VALENCIA LIMITED (REGISTERED NUMBER: 09717165)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1st September 2022 21,383 2,727 2,750 11,452 38,312
Additions 13,551 - - 6,605 20,156
Disposals (14,740 ) - (2,750 ) (2,500 ) (19,990 )
At 31st August 2023 20,194 2,727 - 15,557 38,478
Depreciation
At 1st September 2022 15,755 1,057 2,381 11,452 30,645
Charge for year 2,660 445 - 2,202 5,307
Eliminated on disposal (11,678 ) - (2,381 ) (2,500 ) (16,559 )
At 31st August 2023 6,737 1,502 - 11,154 19,393
Net book value
At 31st August 2023 13,457 1,225 - 4,403 19,085
At 31st August 2022 5,628 1,670 369 - 7,667

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,830 25,278
Prepayments 405 280
18,235 25,558

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 25,805 28,854
Social security and other taxes 10,945 10,615
Other creditors 2,216 1,594
Directors' current accounts 162,863 141,920
Accrued expenses 2,955 2,950
204,784 185,933

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The amount owed to the directors at the balance sheet date was £162,863

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £65,000 (2022 - £64,500) were paid to the directors .

9. ULTIMATE CONTROLLING PARTY

The controlling parties are R & J Valencia by virtue of their ownership of the whole of the issued share capital.