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REGISTERED NUMBER: SC510732 (Scotland)



















RICHMOND EK LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2023






RICHMOND EK LTD (REGISTERED NUMBER: SC510732)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RICHMOND EK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Ms Wai Ming Vivian Sung





REGISTERED OFFICE: 2 The Boardwalk
East Kilbride
Lanarkshire
G75 0YW





REGISTERED NUMBER: SC510732 (Scotland)





ACCOUNTANTS: Whitelaw Wells
Chartered Accountants
9 Royal Crescent
Glasgow
G3 7SP

RICHMOND EK LTD (REGISTERED NUMBER: SC510732)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 22,000 25,500
Tangible assets 5 16,591 8,431
38,591 33,931

CURRENT ASSETS
Stocks 6,100 5,750
Debtors 6 9,165 13,329
Cash at bank and in hand 726,101 700,323
741,366 719,402
CREDITORS
Amounts falling due within one year 7 169,172 206,903
NET CURRENT ASSETS 572,194 512,499
TOTAL ASSETS LESS CURRENT
LIABILITIES

610,785

546,430

PROVISIONS FOR LIABILITIES 4,148 2,108
NET ASSETS 606,637 544,322

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 606,633 544,318
606,637 544,322

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

RICHMOND EK LTD (REGISTERED NUMBER: SC510732)

BALANCE SHEET - continued
31 JULY 2023


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 director and authorised for issue on 23 April 2024 and were signed by:





Ms Wai Ming Vivian Sung - Director


RICHMOND EK LTD (REGISTERED NUMBER: SC510732)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Richmond EK Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover and revenue recognition
The turnover shown in the profit and loss account represents the value of sales during the year, exclusive of Value Added Tax. A sale is recognised at the point where a meal is served or handed over to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of 14 years.

Goodwill - Straight line method 7%

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Equipment and Fittings - 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments such as cash, debtors and creditors are measured at transaction price. Financial liabilities classified as payable within one year are not amortised.

Taxation
Taxation for the year 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.


RICHMOND EK LTD (REGISTERED NUMBER: SC510732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued
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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
When employees have rendered service to the company , short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 50,000
AMORTISATION
At 1 August 2022 24,500
Charge for year 3,500
At 31 July 2023 28,000
NET BOOK VALUE
At 31 July 2023 22,000
At 31 July 2022 25,500

RICHMOND EK LTD (REGISTERED NUMBER: SC510732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. TANGIBLE FIXED ASSETS
Equipment
and
Fittings
£   
COST
At 1 August 2022 15,184
Additions 11,546
Disposals (187 )
At 31 July 2023 26,543
DEPRECIATION
At 1 August 2022 6,753
Charge for year 3,282
Eliminated on disposal (83 )
At 31 July 2023 9,952
NET BOOK VALUE
At 31 July 2023 16,591
At 31 July 2022 8,431

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Credit card debtors 8,759 12,981
Prepayments 406 348
9,165 13,329

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 18,466 44,478
Corporation Tax 101,005 119,123
Social security and other taxes 3,633 742
VAT 32,990 33,182
Accrued expenses 13,078 9,378
169,172 206,903

RICHMOND EK LTD (REGISTERED NUMBER: SC510732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 749 -
Between one and five years 187 -
936 -