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COMPANY REGISTRATION NUMBER: 13463556
Rice One Ltd
Filleted Unaudited Financial Statements
31 March 2023
Rice One Ltd
Financial Statements
Period from 1 July 2022 to 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Rice One Ltd
Statement of Financial Position
31 March 2023
31 Mar 23
30 Jun 22
Note
£
£
Current assets
Debtors
5
1
1
Cash at bank and in hand
26,220
25,910
--------
--------
26,221
25,911
Creditors: amounts falling due within one year
6
13,546
19,083
--------
--------
Net current assets
12,675
6,828
--------
-------
Total assets less current liabilities
12,675
6,828
--------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
12,674
6,827
--------
-------
Shareholders funds
12,675
6,828
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 February 2024 , and are signed on behalf of the board by:
Mr E Jubbawy
Director
Company registration number: 13463556
Rice One Ltd
Notes to the Financial Statements
Period from 1 July 2022 to 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 New Dover Road, Canterbury, Kent, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. For the rendering of services, revenue is recognised when the services are transferred. When the outcome of a transaction can be estimated reliably, revenue is recognised based on the stage of completion of the transaction at the end of the reporting period. If the outcome of the transaction involving the rendering of services cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2022: 1 ).
5. Debtors
31 Mar 23
30 Jun 22
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1
1
----
----
6. Creditors: amounts falling due within one year
31 Mar 23
30 Jun 22
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
10,000
10,000
Corporation tax
3,546
2,566
Other creditors
6,517
--------
--------
13,546
19,083
--------
--------
7. Related party transactions
At the year end the company owed £NIL (2022: £6,517) to the director. At the year end the company owed £9,999 (2022: £9,999) to a company associated by common control.
8. Controlling party
The parent company is Rice Group Ltd , a company incorporated in England and Wales (Company Number: 13228262), who own 100% of the share capital. The address of Rice Group Ltd is 27 New Dover Road, Canterbury, Kent, CT1 3DN .