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REGISTERED NUMBER: 04673924 (England and Wales)















Richter Limited
Trading as
Golden Hill Garage

Unaudited Financial Statements

for the Year Ended 31 March 2024






Richter Limited (Registered number: 04673924)
Trading as Golden Hill Garage






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


Richter Limited
Trading as Golden Hill Garage

Company Information
for the year ended 31 March 2024







DIRECTOR: GR Smith





REGISTERED OFFICE: Golden Hill Garage
208-216 Golden Hill Lane
Leyland
Preston
Lancashire
PR25 2YE





REGISTERED NUMBER: 04673924 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Richter Limited (Registered number: 04673924)
Trading as Golden Hill Garage

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,623 9,090
5,623 9,090

CURRENT ASSETS
Stocks 672,775 757,334
Debtors 6 69,375 36,500
Cash in hand 73 -
742,223 793,834
CREDITORS
Amounts falling due within one year 7 519,940 535,987
NET CURRENT ASSETS 222,283 257,847
TOTAL ASSETS LESS CURRENT
LIABILITIES

227,906

266,937

CREDITORS
Amounts falling due after more than one
year

8

(118,736

)

(129,340

)

PROVISIONS FOR LIABILITIES 10 (1,068 ) (1,727 )
NET ASSETS 108,102 135,870

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 108,002 135,770
SHAREHOLDERS' FUNDS 108,102 135,870

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.

Richter Limited (Registered number: 04673924)
Trading as Golden Hill Garage

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2024 and were signed by:





GR Smith - Director


Richter Limited (Registered number: 04673924)
Trading as Golden Hill Garage

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Richter 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The amounts in the financial statements have been rounded to the nearest £1.

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 represents sales of goods excluding value added tax.

Goodwill
Goodwill arose in 2003 on the purchase of the business and, initially, the director assessed the useful economic life of the goodwill to be 20 years. The director performed a review of the useful economic life of this goodwill during the year ended 31 March 2010 and reassessed the remaining useful economic life to be 3 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 each asset over its estimated useful life.
Plant and machinery - 20% on cost
Equipment and furniture - 12.5% to 33.33% on cost
Motor vehicles - 33% on cost

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

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.


Richter Limited (Registered number: 04673924)
Trading as Golden Hill Garage

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 13 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 169,638
AMORTISATION
At 1 April 2023
and 31 March 2024 169,638
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Richter Limited (Registered number: 04673924)
Trading as Golden Hill Garage

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Equipment
Plant and and Motor
machinery furniture vehicles Totals
£    £    £    £   
COST
At 1 April 2023 85,477 63,060 3,438 151,975
Additions 75 217 - 292
At 31 March 2024 85,552 63,277 3,438 152,267
DEPRECIATION
At 1 April 2023 78,149 61,298 3,438 142,885
Charge for year 2,947 812 - 3,759
At 31 March 2024 81,096 62,110 3,438 146,644
NET BOOK VALUE
At 31 March 2024 4,456 1,167 - 5,623
At 31 March 2023 7,328 1,762 - 9,090

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 67,465 34,249
Other debtors - 1,341
Prepayments and accrued income 1,910 910
69,375 36,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 351,737 356,419
Trade creditors 92,781 78,941
Social security and other taxes 43,274 36,095
Accruals and deferred income 32,148 64,532
519,940 535,987

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan 12,231 22,435
Director's loan account 106,505 106,905
118,736 129,340

Included in other creditors is a director's loan of £106,505 (2023: £106,905) which is unsecured and interest free.

Richter Limited (Registered number: 04673924)
Trading as Golden Hill Garage

Notes to the Financial Statements - continued
for the year ended 31 March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 341,533 346,467

The bank overdraft is secured by a debenture over the assets of the company.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 1,068 1,727

Deferred
tax
£   
Balance at 1 April 2023 1,727
Credit to Statement of Income and Retained Earnings during year (659 )
Balance at 31 March 2024 1,068

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100

12. RELATED PARTY DISCLOSURES

Mr GR Smith has given a personal guarantee to secure the bank loan and overdraft.

The property occupied by the company is owned by Mr GR Smith's personal pension scheme. During the year the company was charged rent by the pension scheme of £38,500 (2023: £38,500).

In the director's opinion the company is controlled by Mr GR Smith.