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REGISTERED NUMBER: 08400559 (England and Wales)














Unaudited Financial Statements

for the Year Ended 28 February 2024

for

RICH & LUCKY LIMITED

RICH & LUCKY LIMITED (REGISTERED NUMBER: 08400559)

Contents of the Financial Statements
for the year ended 28 February 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


RICH & LUCKY LIMITED

Company Information
for the year ended 28 February 2024







Director: G M Casali





Registered office: Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA





Registered number: 08400559 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Rich & Lucky Limited


The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rich & Lucky Limited for the year ended 28 February 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Rich & Lucky Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rich & Lucky Limited and state those matters that we have agreed to state to the director of Rich & Lucky Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rich & Lucky Limited and its director for our work or for this report.

It is your duty to ensure that Rich & Lucky Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rich & Lucky Limited. You consider that Rich & Lucky Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rich & Lucky Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA


17 September 2024

RICH & LUCKY LIMITED (REGISTERED NUMBER: 08400559)

Balance Sheet
28 February 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 106 662
Investment property 5 711,272 711,272
711,378 711,934

Current assets
Debtors 6 3,669 3,669
Cash at bank 13,357 19,556
17,026 23,225
Creditors
Amounts falling due within one year 7 720,860 727,614
Net current liabilities (703,834 ) (704,389 )
Total assets less current liabilities 7,544 7,545

Capital and reserves
Called up share capital 8 3 3
Retained earnings 7,541 7,542
Shareholders' funds 7,544 7,545

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 & LUCKY LIMITED (REGISTERED NUMBER: 08400559)

Balance Sheet - continued
28 February 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 September 2024 and were signed by:





G M Casali - Director


RICH & LUCKY LIMITED (REGISTERED NUMBER: 08400559)

Notes to the Financial Statements
for the year ended 28 February 2024


1. Statutory information

Rich & Lucky 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 (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

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

Turnover is measured at the fair value of the consideration received or receivable.

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 - 20% on cost
Computer equipment - 25% on cost

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.

RICH & LUCKY LIMITED (REGISTERED NUMBER: 08400559)

Notes to the Financial Statements - continued
for the year ended 28 February 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

3. Employees and directors

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

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 March 2023
and 28 February 2024 399 2,621 3,020
Depreciation
At 1 March 2023 399 1,959 2,358
Charge for year - 556 556
At 28 February 2024 399 2,515 2,914
Net book value
At 28 February 2024 - 106 106
At 28 February 2023 - 662 662

RICH & LUCKY LIMITED (REGISTERED NUMBER: 08400559)

Notes to the Financial Statements - continued
for the year ended 28 February 2024


5. Investment property
Total
£   
Fair value
At 1 March 2023
and 28 February 2024 711,272
Net book value
At 28 February 2024 711,272
At 28 February 2023 711,272

The director is of the opinion that the market value of the investment property is not materially different to that of cost.

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 3,669 3,669

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Taxation and social security 507 -
Other creditors 720,353 727,614
720,860 727,614

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
3 3

9. Related party disclosures

At 28 February 2024 the shareholders were owed £717,853 (2023 £725,614), there is no set repayment date and no interest is charged on the loans.