Company Registration No. SC575007 (Scotland)
RICHSIDE PROPERTIES LTD
Unaudited accounts
for the year ended 31 August 2023
RICHSIDE PROPERTIES LTD
Unaudited accounts
Contents
RICHSIDE PROPERTIES LTD
Company Information
for the year ended 31 August 2023
Directors
MR Adedeji Oluwaseun Adeyeba
MRS Tamaraudenyefa Karen Adeyeba
Company Number
SC575007 (Scotland)
Registered Office
272 BATH STREET
GLASGOW
G2 4JR
SCOTLAND
RICHSIDE PROPERTIES LTD
Statement of financial position
as at 31 August 2023
Tangible assets
697,215
526,718
Cash at bank and in hand
7,395
25,526
Creditors: amounts falling due within one year
(191,967)
(166,413)
Net current liabilities
(175,517)
(137,446)
Total assets less current liabilities
521,698
389,272
Creditors: amounts falling due after more than one year
(509,031)
(378,773)
Called up share capital
100
100
Profit and loss account
12,567
10,399
Shareholders' funds
12,667
10,499
For the year ending 31 August 2023 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by
MR Adedeji Oluwaseun Adeyeba
Director
Company Registration No. SC575007
RICHSIDE PROPERTIES LTD
Notes to the Accounts
for the year ended 31 August 2023
RICHSIDE PROPERTIES LTD is a private company, limited by shares, registered in Scotland, registration number SC575007. The registered office is 272 BATH STREET, GLASGOW, G2 4JR, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2022
507,748
5,295
16,512
529,555
Additions
176,150
-
715
176,865
Disposals
-
(3,561)
-
(3,561)
At 31 August 2023
683,898
1,734
17,227
702,859
At 1 September 2022
-
1,734
1,103
2,837
Charge for the year
-
-
2,807
2,807
At 31 August 2023
-
1,734
3,910
5,644
At 31 August 2023
683,898
-
13,317
697,215
At 31 August 2022
507,748
3,561
15,409
526,718
Amounts falling due within one year
RICHSIDE PROPERTIES LTD
Notes to the Accounts
for the year ended 31 August 2023
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
509
1,473
Loans from directors
190,898
164,440
7
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
509,031
378,773
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).