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REGISTERED NUMBER: 01127653 (England and Wales)


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: Mrs L Flitman
T Flitman





SECRETARY: Mrs L Flitman





REGISTERED OFFICE: Independence House
14a Nelson Street
Southend-on-Sea
Essex
SS1 1EF





REGISTERED NUMBER: 01127653 (England and Wales)





ACCOUNTANTS: Ashton Wallace
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 4 550,000 275,000

CURRENT ASSETS
Debtors 5 5,720 1,740
Cash at bank 129,865 131,264
135,585 133,004
CREDITORS
Amounts falling due within one year 6 38,983 41,755
NET CURRENT ASSETS 96,602 91,249
TOTAL ASSETS LESS CURRENT
LIABILITIES

646,602

366,249

PROVISIONS FOR LIABILITIES 88,442 14,966
NET ASSETS 558,160 351,283

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 478,984 203,984
Retained earnings 79,076 147,199
SHAREHOLDERS' FUNDS 558,160 351,283

RICEREEL LIMITED (REGISTERED NUMBER: 01127653)

BALANCE SHEET - continued
5TH APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th August 2024 and were signed on its behalf by:




Mrs L Flitman - Director



T Flitman - Director


RICEREEL LIMITED (REGISTERED NUMBER: 01127653)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5TH APRIL 2024

1. STATUTORY INFORMATION

Ricereel Limited 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 as modified by the revaluation of certain assets.

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 3 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6th April 2023 275,000
Revaluation 275,000
At 5th April 2024 550,000
NET BOOK VALUE
At 5th April 2024 550,000
At 5th April 2023 275,000

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 5,720 1,740

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 5,058 6,360
Other creditors 33,925 35,395
38,983 41,755

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.






Ashton Wallace
Chartered Certified Accountants
Independence House
14a Nelson Street
Southend-on-Sea
Essex
SS1 1EF


Date: .............................................