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REGISTERED NUMBER: 02192148 (England and Wales)














Unaudited Financial Statements for the Year Ended 31 January 2024

for

Richmond Classics Limited

Richmond Classics Limited (Registered number: 02192148)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Richmond Classics Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr N Haynes
Mr K McNicol





REGISTERED OFFICE: 3 Westover Road
Bournemouth
Dorset
BH1 2BY





REGISTERED NUMBER: 02192148 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Richmond Classics Limited (Registered number: 02192148)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6,964 8,243
Investment property 6 545,000 545,000
551,964 553,243

CURRENT ASSETS
Stocks 295,200 345,447
Debtors 7 122,701 28,598
Cash at bank and in hand 123,346 281,959
541,247 656,004
CREDITORS
Amounts falling due within one year 8 192,169 277,887
NET CURRENT ASSETS 349,078 378,117
TOTAL ASSETS LESS CURRENT LIABILITIES 901,042 931,360

PROVISIONS FOR LIABILITIES 1,323 1,475
NET ASSETS 899,719 929,885

CAPITAL AND RESERVES
Called up share capital 7,337 7,337
Other reserves 219,836 219,836
Retained earnings 672,546 702,712
SHAREHOLDERS' FUNDS 899,719 929,885

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

Richmond Classics Limited (Registered number: 02192148)

Balance Sheet - continued
31 January 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 Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:




Mr N Haynes - Director



Mr K McNicol - Director


Richmond Classics Limited (Registered number: 02192148)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Richmond Classics 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 amounts receivable for clothing items net of VAT and trade discounts, and is recognised at the point of sale.

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.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

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.

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

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.

Richmond Classics Limited (Registered number: 02192148)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 February 2023
and 31 January 2024 15,560
AMORTISATION
At 1 February 2023
and 31 January 2024 15,560
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 February 2023
and 31 January 2024 1,910 327,448 2,674 332,032
DEPRECIATION
At 1 February 2023 1,910 319,628 2,251 323,789
Charge for year - 1,173 106 1,279
At 31 January 2024 1,910 320,801 2,357 325,068
NET BOOK VALUE
At 31 January 2024 - 6,647 317 6,964
At 31 January 2023 - 7,820 423 8,243

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 545,000
NET BOOK VALUE
At 31 January 2024 545,000
At 31 January 2023 545,000

Richmond Classics Limited (Registered number: 02192148)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. INVESTMENT PROPERTY - continued

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2010 496,000
Valuation in 2016 54,000
Valuation in 2022 (5,000 )
545,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 22,701 27,134
Amounts owed by participating interests 100,000 -
Other debtors - 1,464
122,701 28,598

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 41,149 132,985
Taxation and social security 45,322 70,256
Other creditors 105,698 74,646
192,169 277,887

9. RELATED PARTY DISCLOSURES

The directors, Mr K McNicol and Mr N Haynes, are considered key management personnel.