Registered number
07716683
RISHIKA CONSTRUCTION LIMITED
Filleted Accounts
31 July 2023
RISHIKA CONSTRUCTION LIMITED
Registered number: 07716683
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 34,436 8,288
Current assets
Stocks - 75,600
Debtors 4 206,791 172,833
Cash at bank and in hand 92,440 52,957
299,231 301,390
Creditors: amounts falling due within one year 5 (231,790) (214,590)
Net current assets 67,441 86,800
Total assets less current liabilities 101,877 95,088
Creditors: amounts falling due after more than one year 6 (70,784) (94,689)
Net assets 31,093 399
Capital and reserves
Called up share capital 100 100
Profit and loss account 30,993 299
Shareholders' funds 31,093 399
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Rajneesh CHOPRA
Director
Approved by the board on 23 April 2024
RISHIKA CONSTRUCTION LIMITED
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 - 18,369 18,369
Additions 3,198 25,000 28,198
At 31 July 2023 3,198 43,369 46,567
Depreciation
At 1 August 2022 - 10,081 10,081
Charge for the year 214 1,836 2,050
At 31 July 2023 214 11,917 12,131
Net book value
At 31 July 2023 2,984 31,452 34,436
At 31 July 2022 - 8,288 8,288
4 Debtors 2023 2022
£ £
Trade debtors 178,593 145,582
Amounts owed by group undertakings and undertakings in which the company has a participating interest 15,500 -
Other debtors 12,698 27,251
206,791 172,833
5 Creditors: amounts falling due within one year 2023 2022
£ £
Accruals 1,000 1,000
Bank loans and overdrafts 36,722 42,469
Trade creditors 77,633 100,191
Taxation and social security costs 46,177 (4,810)
Other creditors 70,258 75,740
231,790 214,590
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 70,784 94,689
7 Transaction with Director
The director loan to the company at the year end was £61,656 (£42,683 in 2022). During the year company paid the dividends of £74,500 (£46,150 in 2022) to director and its spouse for their shareholding.
8 Controlling party
The company is under the control of its director by virture of his shareholding in the company.
9 Other information
RISHIKA CONSTRUCTION LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
2 Genesis Close
Staines Upon Thames
England
TW19 7BE
RISHIKA CONSTRUCTION LIMITED 07716683 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts April 2024 Mr Rajneesh CHOPRA No description of principal activity 07716683 2021-08-01 2022-07-31 07716683 core:WithinOneYear 2022-07-31 07716683 core:AfterOneYear 2022-07-31 07716683 core:ShareCapital 2022-07-31 07716683 core:RetainedEarningsAccumulatedLosses 2022-07-31 07716683 2022-08-01 2023-07-31 07716683 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 07716683 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 07716683 bus:Director40 2022-08-01 2023-07-31 07716683 1 2022-08-01 2023-07-31 07716683 2 2022-08-01 2023-07-31 07716683 core:PlantMachinery 2022-08-01 2023-07-31 07716683 core:Vehicles 2022-08-01 2023-07-31 07716683 countries:England 2022-08-01 2023-07-31 07716683 bus:FRS102 2022-08-01 2023-07-31 07716683 bus:FilletedAccounts 2022-08-01 2023-07-31 07716683 2023-07-31 07716683 core:WithinOneYear 2023-07-31 07716683 core:AfterOneYear 2023-07-31 07716683 core:ShareCapital 2023-07-31 07716683 core:RetainedEarningsAccumulatedLosses 2023-07-31 07716683 core:PlantMachinery 2023-07-31 07716683 core:Vehicles 2023-07-31 07716683 2022-07-31 07716683 core:PlantMachinery 2022-07-31 07716683 core:Vehicles 2022-07-31 iso4217:GBP xbrli:pure