Acorah Software Products - Accounts Production 15.0.400 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 08928433 Mr R Gilbert Mrs D Gilbert Mrs D Gilbert iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08928433 2023-04-30 08928433 2024-04-30 08928433 2023-05-01 2024-04-30 08928433 frs-core:CurrentFinancialInstruments 2024-04-30 08928433 frs-core:Non-currentFinancialInstruments 2024-04-30 08928433 frs-core:FurnitureFittings 2023-05-01 2024-04-30 08928433 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-30 08928433 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08928433 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 08928433 frs-core:PlantMachinery 2024-04-30 08928433 frs-core:PlantMachinery 2023-05-01 2024-04-30 08928433 frs-core:PlantMachinery 2023-04-30 08928433 frs-core:ShareCapital 2024-04-30 08928433 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 08928433 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08928433 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 08928433 frs-bus:SmallEntities 2023-05-01 2024-04-30 08928433 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 08928433 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 08928433 frs-bus:Director1 2023-05-01 2024-04-30 08928433 frs-bus:Director2 2023-05-01 2024-04-30 08928433 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 08928433 1 2023-05-01 2024-04-30 08928433 frs-countries:EnglandWales 2023-05-01 2024-04-30 08928433 2022-04-30 08928433 2023-04-30 08928433 2022-05-01 2023-04-30 08928433 frs-core:CurrentFinancialInstruments 2023-04-30 08928433 frs-core:Non-currentFinancialInstruments 2023-04-30 08928433 frs-core:ShareCapital 2023-04-30 08928433 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 08928433 1 2022-05-01 2023-04-30
Registered number: 08928433
Richden Homes Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08928433
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 184,516 187,089
Investment Properties 5 750,000 750,000
934,516 937,089
CURRENT ASSETS
Stocks 6 724,387 124,777
Debtors 7 5,560 7,083
Cash at bank and in hand 131,643 255,910
861,590 387,770
Creditors: Amounts Falling Due Within One Year 8 (563,476 ) (273,352 )
NET CURRENT ASSETS (LIABILITIES) 298,114 114,418
TOTAL ASSETS LESS CURRENT LIABILITIES 1,232,630 1,051,507
Creditors: Amounts Falling Due After More Than One Year 9 (550,000 ) (550,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,681 ) (11,833 )
NET ASSETS 666,949 489,674
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 666,947 489,672
SHAREHOLDERS' FUNDS 666,949 489,674
Page 1
Page 2
For the year ending 30 April 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R Gilbert
Director
28 July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Richden Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08928433 . The registered office is Windy Ridge, Broad View Road, Oulton Broad, Lowestoft, Suffolk, NR32 3PL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% Straight line
Fixtures & Fittings 20% Straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Employees 4 4
4 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 May 2023 191,671 33,519 225,190
Additions - 6,810 6,810
As at 30 April 2024 191,671 40,329 232,000
Depreciation
As at 1 May 2023 23,401 14,700 38,101
Provided during the period 3,018 6,365 9,383
As at 30 April 2024 26,419 21,065 47,484
Net Book Value
As at 30 April 2024 165,252 19,264 184,516
As at 1 May 2023 168,270 18,819 187,089
Mr R Gilbert, a director, revalued the properties at 30 April 2024 and this valuation was on the basis of the open market value. Mr R Gilbert is not independent of the company, but has many years experience in the property sector. There has been no valuation of the investment property by an independent valuer.
5. Investment Property
2024
£
Fair Value
As at 1 May 2023 and 30 April 2024 750,000
Page 4
Page 5
6. Stocks
2024 2023
£ £
Stock 43,369 32,819
Work in progress 681,018 91,958
724,387 124,777
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,451 2,098
Other debtors 4,109 4,985
5,560 7,083
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,271 712
Other creditors 501,085 256,807
Taxation and social security 61,120 15,833
563,476 273,352
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Trade creditors 550,000 550,000
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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