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REGISTERED NUMBER: 01005465 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2023

for

J V Richards (Rietfontein) Ltd

J V Richards (Rietfontein) Ltd (Registered number: 01005465)






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


J V Richards (Rietfontein) Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs S J Fallowes
Mr J S Richards
Miss C J Richards
Mr A T Richards





SECRETARY: Mrs S J Fallowes





REGISTERED OFFICE: Rietfontein
Perranwell Station
Truro
Cornwall
TR3 7PJ





REGISTERED NUMBER: 01005465 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
Bennett House
The Dean
Alresford
Hampshire
SO24 9BH

J V Richards (Rietfontein) Ltd (Registered number: 01005465)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 592,415 595,184

CURRENT ASSETS
Stocks 231,496 222,422
Debtors 5 363,206 439,724
Cash at bank 86 86
594,788 662,232
CREDITORS
Amounts falling due within one year 6 388,970 486,835
NET CURRENT ASSETS 205,818 175,397
TOTAL ASSETS LESS CURRENT
LIABILITIES

798,233

770,581

CAPITAL AND RESERVES
Called up share capital 1,044 1,044
Share premium 109,956 109,956
Retained earnings 687,233 659,581
SHAREHOLDERS' FUNDS 798,233 770,581

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.

J V Richards (Rietfontein) Ltd (Registered number: 01005465)

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 14 November 2023 and were signed on its behalf by:




Mrs S J Fallowes - Director



Miss C J Richards - Director


J V Richards (Rietfontein) Ltd (Registered number: 01005465)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

J V Richards (Rietfontein) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis follow a review by the directors of the anticipated trading conditions for a period of at least twelve months from the date of approval of these financial statements. The directors believe the Company has sufficient financial support to continue to trade, and it is not expected there will be a significant change in the market conditions which could jepodise this assessment, however the directors are mindful of outside influences such as reputational risk, legislative changes, environmental issues and the continued support of the directors themselves in the day to day management.

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.
Freehold property - 2% on cost
Plant and machinery - 15% reducing balance basis
Fixtures and fittings - 33% on cost and 15% reducing balance basis
Motor vehicles - 25% reducing balance basis

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

Reared stocks are valued in accordance with HS232 (formerly BEN19).

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.


J V Richards (Rietfontein) Ltd (Registered number: 01005465)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

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 AND DIRECTORS

The average number of employees during the year was 22 (2022 - 25 ) .

4. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 April 2022 1,113,503 131,772 1,538,135
Additions - 16,808 9,311
Disposals - - -
At 31 March 2023 1,113,503 148,580 1,547,446
DEPRECIATION
At 1 April 2022 612,191 94,846 1,510,461
Charge for year 22,170 2,972 5,532
At 31 March 2023 634,361 97,818 1,515,993
NET BOOK VALUE
At 31 March 2023 479,142 50,762 31,453
At 31 March 2022 501,312 36,926 27,674

J V Richards (Rietfontein) Ltd (Registered number: 01005465)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022 150,139 174,760 3,108,309
Additions 10,118 - 36,237
Disposals (229 ) - (229 )
At 31 March 2023 160,028 174,760 3,144,317
DEPRECIATION
At 1 April 2022 137,693 157,934 2,513,125
Charge for year 3,888 4,215 38,777
At 31 March 2023 141,581 162,149 2,551,902
NET BOOK VALUE
At 31 March 2023 18,447 12,611 592,415
At 31 March 2022 12,446 16,826 595,184

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 303,162 350,524
Other debtors 60,044 89,200
363,206 439,724

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 16,937 121,448
Trade creditors 57,431 41,135
Taxation and social security 7,587 9,730
Other creditors 307,015 314,522
388,970 486,835

7. DEFERRED TAX
£   
Balance at 1 April 2022 (59,272 )
Accelerated capital allowances 1,404
Trading losses 32,860
Balance at 31 March 2023 (25,008 )

J V Richards (Rietfontein) Ltd (Registered number: 01005465)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. RELATED PARTY DISCLOSURES

During the year, dividends of £96,000 (2022 - £104,000) were paid to the Directors.

At 31 March 2023 the company owed its directors £274,000 (2022 - £274,000). The directors deem that no other related party transactions need to be disclosed as they are concluded on a commercial basis and do not have a material impact on the understanding of the financial statements

9. ULTIMATE CONTROLLING PARTY

The is no overall controlling party. Various combinations of shareholders can act together to control the company.