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REGISTERED NUMBER: 03451806 (England and Wales)















RICHMOND PROPERTIES (HARTLAND) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






RICHMOND PROPERTIES (HARTLAND) LIMITED (REGISTERED NUMBER: 03451806)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


RICHMOND PROPERTIES (HARTLAND) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: N J Walter





SECRETARY:





REGISTERED OFFICE: 37 Mill Street
Bideford
DEVON
EX39 2JJ





REGISTERED NUMBER: 03451806 (England and Wales)





ACCOUNTANTS: Jane Maynard Limited
T/A Maynard Johns
37 Mill Street
Bideford
DEVON
EX39 2JJ

RICHMOND PROPERTIES (HARTLAND) LIMITED (REGISTERED NUMBER: 03451806)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 695,000 700,000

CURRENT ASSETS
Debtors 1,126 433
Cash at bank 1,889 34,126
3,015 34,559
CREDITORS
Amounts falling due within one year (2,370 ) (8,155 )
NET CURRENT ASSETS 645 26,404
TOTAL ASSETS LESS CURRENT
LIABILITIES

695,645

726,404

CREDITORS
Amounts falling due after more than one
year

5

(72,021

)

(101,929

)

PROVISIONS FOR LIABILITIES (104,658 ) (105,908 )
NET ASSETS 518,966 518,567

CAPITAL AND RESERVES
Called up share capital 19,002 19,002
Retained earnings 499,964 499,565
SHAREHOLDERS' FUNDS 518,966 518,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

RICHMOND PROPERTIES (HARTLAND) LIMITED (REGISTERED NUMBER: 03451806)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 August 2024 and were signed by:





N J Walter - Director


RICHMOND PROPERTIES (HARTLAND) LIMITED (REGISTERED NUMBER: 03451806)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Richmond Properties (Hartland) 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

RICHMOND PROPERTIES (HARTLAND) LIMITED (REGISTERED NUMBER: 03451806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 700,000
Revaluations (5,000 )
At 31 March 2024 695,000
NET BOOK VALUE
At 31 March 2024 695,000
At 31 March 2023 700,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2017 565,000
Valuation in 2018 (35,000 )
Valuation in 2022 170,000
Valuation in 2024 (5,000 )
695,000

If Investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 170,500 170,500

Investment property was valued on an open market basis on 31 March 2024 by Mr N.J. Walter .

Mr N.J.Walter is a the shareholder and only director of the company, and it is his opinion as a property developer and builder.

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 72,021 101,929

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 72,021 101,929

RICHMOND PROPERTIES (HARTLAND) LIMITED (REGISTERED NUMBER: 03451806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
N J Walter
Balance outstanding at start of year - 7,877
Amounts advanced 1,073 579
Amounts repaid (420 ) (8,456 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 653 -

.