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REGISTERED NUMBER: 13950615 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 2 MARCH 2022 TO 31 MARCH 2023

FOR

RICHWEL LIMITED

RICHWEL LIMITED (REGISTERED NUMBER: 13950615)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 2 MARCH 2022 TO 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RICHWEL LIMITED

COMPANY INFORMATION
FOR THE PERIOD 2 MARCH 2022 TO 31 MARCH 2023







DIRECTORS: P Weldin
Miss S M Richards





REGISTERED OFFICE: 7 St John's Road
Harrow
Middlesex
HA1 2EY





REGISTERED NUMBER: 13950615 (England and Wales)





ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY

RICHWEL LIMITED (REGISTERED NUMBER: 13950615)

BALANCE SHEET
31 MARCH 2023

Notes £   
CURRENT ASSETS
Stocks 1,616,095
Cash at bank 10,645
1,626,740
CREDITORS
Amounts falling due within one year 4 1,772,652
NET CURRENT LIABILITIES (145,912 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(145,912

)

RESERVES
Retained earnings (145,912 )
(145,912 )

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

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 29 November 2023 and were signed on its behalf by:





P Weldin - Director


RICHWEL LIMITED (REGISTERED NUMBER: 13950615)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 2 MARCH 2022 TO 31 MARCH 2023

1. STATUTORY INFORMATION

Richwel 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.

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.

Going concern
The financial statements have been prepared on a going concern basis not withstanding the company's net current liabilities position as at the year end. The directors of the company and the connected companies have provided with an undertaking that they will continue to support financially for the foreseeable future and that they will not seek repayment of the amounts currently owing to them in the twelve months from the date of signing the financial statements.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the period 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 period 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 period was 2 .

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed to related company 1,770,125
Other creditors 2,527
1,772,652

5. RELATED PARTY DISCLOSURES

During the year, the company received a loan of £1.7m from Shapes Day Nurseries Limited, a company where Miss S M Richards and Mr P Weldin are also the Directors. Interest at the rate of 4.5% p.a is charged on the loan.