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REGISTERED NUMBER: 07336310 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

RICH IT SOLUTIONS LIMITED

RICH IT SOLUTIONS LIMITED (REGISTERED NUMBER: 07336310)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RICH IT SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr R Burditt





SECRETARY:





REGISTERED OFFICE: 1 walford Barns
Walford Back Lane
Standon
Staffordshire
ST21 6QS





REGISTERED NUMBER: 07336310 (England and Wales)





ACCOUNTANT: Wynniatt-Husey Ltd
Chartered Accountants
The Old Coach House
Horsefair
Rugeley
Staffordshire
WS15 2EL

RICH IT SOLUTIONS LIMITED (REGISTERED NUMBER: 07336310)

BALANCE SHEET
31 MARCH 2024

31/3/23 31/3/24
£    Notes £   
FIXED ASSETS
2,123 Tangible assets 4 44,542

CURRENT ASSETS
33,257 Debtors 5 21,000
44,482 Cash at bank 48,151
77,739 69,151
CREDITORS
(52,998 ) Amounts falling due within one year 6 (53,847 )
24,741 NET CURRENT ASSETS 15,304
26,864 TOTAL ASSETS LESS CURRENT
LIABILITIES

59,846

CREDITORS
- Amounts falling due after more than one
year

7

(42,639

)
26,864 NET ASSETS 17,207

CAPITAL AND RESERVES
2 Called up share capital 2
26,862 Retained earnings 17,205
26,864 SHAREHOLDERS' FUNDS 17,207

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.

RICH IT SOLUTIONS LIMITED (REGISTERED NUMBER: 07336310)

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.

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 22 August 2024 and were signed by:





Mr R Burditt - Director


RICH IT SOLUTIONS LIMITED (REGISTERED NUMBER: 07336310)

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

1. STATUTORY INFORMATION

Rich IT Solutions 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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 1 (2023 - 1 ) .

RICH IT SOLUTIONS LIMITED (REGISTERED NUMBER: 07336310)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 5,447
Additions 54,269
At 31 March 2024 59,716
DEPRECIATION
At 1 April 2023 3,324
Charge for year 11,850
At 31 March 2024 15,174
NET BOOK VALUE
At 31 March 2024 44,542
At 31 March 2023 2,123

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 21,000 32,887
Other debtors - 370
21,000 33,257

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 1 -
Taxation and social security 52,604 52,104
Other creditors 1,242 894
53,847 52,998

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts 42,639 -