REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5TH APRIL 2024 |
FOR |
RICEREEL LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5TH APRIL 2024 |
FOR |
RICEREEL LIMITED |
RICEREEL LIMITED (REGISTERED NUMBER: 01127653) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5TH APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Report of the Accountants | 7 |
RICEREEL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 5TH APRIL 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Independence House |
14a Nelson Street |
Southend-on-Sea |
Essex |
SS1 1EF |
RICEREEL LIMITED (REGISTERED NUMBER: 01127653) |
BALANCE SHEET |
5TH APRIL 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
RICEREEL LIMITED (REGISTERED NUMBER: 01127653) |
BALANCE SHEET - continued |
5TH APRIL 2024 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RICEREEL LIMITED (REGISTERED NUMBER: 01127653) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5TH APRIL 2024 |
1. | STATUTORY INFORMATION |
Ricereel Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents property rentals receivable. |
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. |
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. |
RICEREEL LIMITED (REGISTERED NUMBER: 01127653) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5TH APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Investment properties |
Investment properties are accounted for in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and revalued annually with any surplus or deficit on revaluation being transferred to the revaluation reserve. However, where a revaluation deficit on an individual property is expected to be permanent it is recognised in the profit and loss account for the year. |
Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the directors believe that the policy of not providing depreciation is necessary in order for the accounts to give a true and fair view, since the current value of investment properties, and changes to that current value, are of prime importance rather than a calculation of systematic annual depreciation. |
Depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been included cannot be separately identified or quantified. |
Operating leases |
Rentals paid under operating leases are charged to the profit and loss as incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6th April 2023 |
Revaluation | 275,000 |
At 5th April 2024 |
NET BOOK VALUE |
At 5th April 2024 |
At 5th April 2023 |
Fair value at 5th April 2024 is represented by: |
£ |
Valuation in 2013 | 218,949 |
Valuation in 2024 | 275,000 |
Cost | 56,051 |
550,000 |
RICEREEL LIMITED (REGISTERED NUMBER: 01127653) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5TH APRIL 2024 |
4. | INVESTMENT PROPERTY - continued |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 56,051 | 56,051 |
Aggregate depreciation | (27,499 | ) | (26,799 | ) |
Investment property was valued on an open market basis on 5th April 2024 by the directors . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
At 5th April 2024 the company owes £11,231 to Mrs L Flitman. |
8. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mrs L Flitman. |
RICEREEL LIMITED |
REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF |
RICEREEL LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 5th April 2024 set out on pages three to eight and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Chartered Certified Accountants |
Independence House |
14a Nelson Street |
Southend-on-Sea |
Essex |
SS1 1EF |
Date: ............................................. |