1 September 2022 false No description of principal activity Taxfiler 2023.10 SC575007business:PrivateLimitedCompanyLtd2022-09-012023-08-31 SC5750072022-08-31 SC5750072022-09-012023-08-31 SC575007business:AuditExemptWithAccountantsReport2022-09-012023-08-31 SC575007business:FilletedAccounts2022-09-012023-08-31 SC5750072023-08-31 SC575007business:Director12022-09-012023-08-31 SC575007business:Director22022-09-012023-08-31 SC575007business:RegisteredOffice2022-09-012023-08-31 SC5750072022-08-31 SC575007core:WithinOneYear2023-08-31 SC575007core:WithinOneYear2022-08-31 SC575007core:AfterOneYear2023-08-31 SC575007core:AfterOneYear2022-08-31 SC575007core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 SC575007core:ShareCapitalcore:PreviouslyStatedAmount2022-08-31 SC575007core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 SC575007core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-08-31 SC575007core:PreviouslyStatedAmount2023-08-31 SC575007core:PreviouslyStatedAmount2022-08-31 SC575007business:SmallEntities2022-09-012023-08-31 SC575007countries:Scotland2022-09-012023-08-31 SC575007core:LandBuildings2022-08-31 SC575007core:MotorVehicles2022-08-31 SC575007core:FurnitureFittings2022-08-31 SC575007core:LandBuildings2022-09-012023-08-31 SC575007core:MotorVehicles2022-09-012023-08-31 SC575007core:FurnitureFittings2022-09-012023-08-31 SC575007core:LandBuildings2023-08-31 SC575007core:MotorVehicles2023-08-31 SC575007core:FurnitureFittings2023-08-31 SC5750072021-09-012022-08-31 iso4217:GBP xbrli:pure
Company Registration No. SC575007 (Scotland)
RICHSIDE PROPERTIES LTD Unaudited accounts for the year ended 31 August 2023
RICHSIDE PROPERTIES LTD Unaudited accounts Contents
Page
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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
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RICHSIDE PROPERTIES LTD Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
697,215 
526,718 
Current assets
Debtors
9,055 
3,441 
Cash at bank and in hand
7,395 
25,526 
16,450 
28,967 
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)
Net assets
12,667 
10,499 
Capital and reserves
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
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RICHSIDE PROPERTIES LTD Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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 
Depreciation
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 
Net book value
At 31 August 2023
683,898 
- 
13,317 
697,215 
At 31 August 2022
507,748 
3,561 
15,409 
526,718 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
9,055 
3,441 
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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 
Accruals
560 
500 
191,967 
166,413 
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).
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