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Registered number: 07932001

Rich Inks IT Limited

ACCOUNTS
FOR THE YEAR ENDED 28/02/2023

Prepared By:
David Griffiths & Co
3 Church Street
Aylesbury
Bucks
HP20 2QP

Rich Inks IT Limited

ACCOUNTS
FOR THE YEAR ENDED 28/02/2023
DIRECTORS
Neil Richardson
REGISTERED OFFICE
111 High Street
Chesham
Buckinghamshire
HP5 1DE
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 07932001
ACCOUNTANTS
David Griffiths & Co
3 Church Street
Aylesbury
Bucks
HP20 2QP

Rich Inks IT Limited

ACCOUNTS
FOR THEYEARENDED28/02/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Rich Inks IT Limited

BALANCE SHEET AT 28/02/2023
20232022
Notes££
FIXED ASSETS
CURRENT ASSETS
Stock9,4994,226
Debtors6239325
Cash at bank and in hand11,87319,644
21,61124,195
CREDITORS: Amounts falling due within one year77,9876,597
NET CURRENT ASSETS13,62417,598
TOTAL ASSETS LESS CURRENT LIABILITIES13,62417,598
CAPITAL AND RESERVES
Called up share capital81010
Profit and loss account13,61417,588
SHAREHOLDERS' FUNDS13,62417,598
For the year ending 28/02/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 15/11/2023 and signed on their behalf by
.............................
Neil Richardson
Director

Rich Inks IT Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28/02/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1e. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.

Rich Inks IT Limited

2. EMPLOYEES
20232022
No.No.
Average number of employees22
3. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 01/03/20225,0005,000
At 28/02/20235,0005,000
Depreciation
At 01/03/20225,0005,000
At 28/02/20235,0005,000
Net Book Amounts
At 28/02/2023--
4. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 01/03/20225,8235,823
At 28/02/20235,8235,823
Depreciation
At 01/03/20225,8235,823
At 28/02/20235,8235,823
Net Book Amounts
At 28/02/2023--
5. STOCK 20232022
££
Stock comprises:
Stock9,4994,226
9,4994,226

Rich Inks IT Limited

6. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors-66
UK corporation tax-20
Other debtors239239
239325
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax131-
VAT1,328338
PAYE control2957
Directors current account284
Trade creditors2,6393,657
Other creditors3,8322,541
7,9876,597
8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
10 Ordinary shares of £1 each1010
1010