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REGISTERED NUMBER: 06439645 (England and Wales)









RICHARDS SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






RICHARDS SERVICES LTD (REGISTERED NUMBER: 06439645)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


RICHARDS SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mrs C M Richards
Mrs C Taylor
Mr D A Taylor





SECRETARY: Mrs C M Richards





REGISTERED OFFICE: Metro Rod
Henfaes Lane
Welshpool
Powys
SY21 7BE





REGISTERED NUMBER: 06439645 (England and Wales)

RICHARDS SERVICES LTD (REGISTERED NUMBER: 06439645)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 517,041 533,455
517,041 533,455

CURRENT ASSETS
Stocks 4,755 4,529
Debtors 6 351,298 306,724
Cash at bank and in hand 17,368 47,737
373,421 358,990
CREDITORS
Amounts falling due within one year 7 441,725 383,787
NET CURRENT LIABILITIES (68,304 ) (24,797 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

448,737

508,658

CREDITORS
Amounts falling due after more than one
year

8

(247,686

)

(313,785

)

PROVISIONS FOR LIABILITIES (128,641 ) (129,665 )
NET ASSETS 72,410 65,208

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 72,310 65,108
SHAREHOLDERS' FUNDS 72,410 65,208

RICHARDS SERVICES LTD (REGISTERED NUMBER: 06439645)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





Mr D A Taylor - Director


RICHARDS SERVICES LTD (REGISTERED NUMBER: 06439645)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Richards Services Ltd is a private company, limited by shares , registered in England and Wales. 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery - at variable rates on reducing balance
Furniture, fittings and equipment - at variable rates on reducing balance
Motor vehicles - at variable rates on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


RICHARDS SERVICES LTD (REGISTERED NUMBER: 06439645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 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 statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 10,530
AMORTISATION
At 1 December 2022
and 30 November 2023 10,530
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

RICHARDS SERVICES LTD (REGISTERED NUMBER: 06439645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. TANGIBLE FIXED ASSETS
Furniture,
Improvements fittings
to Plant and and
property machinery equipment
£    £    £   
COST
At 1 December 2022 14,578 297,361 9,212
Additions - 2,575 -
Disposals - - -
At 30 November 2023 14,578 299,936 9,212
DEPRECIATION
At 1 December 2022 2,419 170,940 6,797
Charge for year 1,458 26,548 951
Eliminated on disposal - - -
At 30 November 2023 3,877 197,488 7,748
NET BOOK VALUE
At 30 November 2023 10,701 102,448 1,464
At 30 November 2022 12,159 126,421 2,415

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 712,352 16,734 1,050,237
Additions 94,000 - 96,575
Disposals (12,200 ) - (12,200 )
At 30 November 2023 794,152 16,734 1,134,612
DEPRECIATION
At 1 December 2022 329,202 7,424 516,782
Charge for year 79,847 1,862 110,666
Eliminated on disposal (9,877 ) - (9,877 )
At 30 November 2023 399,172 9,286 617,571
NET BOOK VALUE
At 30 November 2023 394,980 7,448 517,041
At 30 November 2022 383,150 9,310 533,455

RICHARDS SERVICES LTD (REGISTERED NUMBER: 06439645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 345,771 301,411
Other debtors 5,527 5,313
351,298 306,724

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 48,148 48,148
Hire purchase contracts 122,737 96,062
Trade creditors 103,174 99,372
Tax 34,010 10,109
Social security and other taxes 98,123 76,053
Other creditors 25,529 44,499
Directors' loan accounts 10,004 9,544
441,725 383,787

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 61,936 109,532
Hire purchase contracts 185,750 204,253
247,686 313,785

The amounts due under hire purchase contracts of £308,487 ( 2022: £300,315 ) are secured on the assets they are financing. They are repayable in monthly instalments over the period of the agreement.

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 308,487 300,315

RICHARDS SERVICES LTD (REGISTERED NUMBER: 06439645)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


10. OTHER FINANCIAL COMMITMENTS

At the year end, the company had annual commitments of £11,000 under non-cancellable operating leases.