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Registered number: 03785276









RICHARD M FORD LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
RICHARD M FORD LIMITED
 

CONTENTS



Page
Accountants' report
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 7


 
RICHARD M FORD LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RICHARD M FORD LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Richard M Ford Limited for the year ended 31 March 2024 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Richard M Ford Limited, as a body, in accordance with the terms of our engagement letter dated 14 September 2022Our work has been undertaken solely to prepare for your approval the financial statements of Richard M Ford Limited and state those matters that we have agreed to state to the Board of directors of Richard M Ford Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Richard M Ford Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Richard M Ford 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 loss of Richard M Ford Limited. You consider that Richard M Ford Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Richard M Ford 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.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
21 September 2024
Page 1

 
RICHARD M FORD LIMITED
REGISTERED NUMBER: 03785276

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
983
1,311

  
983
1,311

Current assets
  

Stocks
  
25,200
28,000

Debtors: amounts falling due within one year
 5 
3,836
1,039

Cash at bank and in hand
  
5,621
6,164

  
34,657
35,203

Creditors: amounts falling due within one year
 6 
(35,422)
(34,797)

Net current (liabilities)/assets
  
 
 
(765)
 
 
406

Total assets less current liabilities
  
218
1,717

Provisions for liabilities
  

Deferred tax
  
(187)
(249)

  
 
 
(187)
 
 
(249)

Net assets
  
31
1,468


Capital and reserves
  

Called up share capital 
 7 
1,001
1,001

Profit and loss account
  
(970)
467

  
31
1,468


Page 2

 
RICHARD M FORD LIMITED
REGISTERED NUMBER: 03785276
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
R M Ford
Director

Date: 21 September 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
RICHARD M FORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is a private United Kingdom company limited by shares. It is both incorporated and domiciled in England and Wales. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ. The trading address is based in London.
The company's principle activity is that of dealing in antiquarian books, manuscripts and ephemera.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Turnover

Turnover comprises revenue recognised by the company in respect of the sale of antiquarian books, manuscripts and ephemera. Turnover is measured as the fair value of the consideration received or receivable and is exclusive of value added tax. 

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
RICHARD M FORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other thrid parties, loans to related parties and investments in ordinary shares. 
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
RICHARD M FORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 1 April 2023
2,769



At 31 March 2024

2,769



Depreciation


At 1 April 2023
1,458


Charge for the year on owned assets
328



At 31 March 2024

1,786



Net book value



At 31 March 2024
983



At 31 March 2023
1,311

Page 6

 
RICHARD M FORD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
3,108
257

Prepayments and accrued income
728
782

3,836
1,039



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
686
1,896

Other creditors
31,166
29,531

Accruals and deferred income
3,570
3,370

35,422
34,797



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,001 Ordinary A shares of £1.00 each
1,001
1,001



8.


Related party transactions

As at 31 March 2024, the company owed £31,166 to a director (2023: £29,531). This loan is included in other creditors due within one year in note 6 to the financial statements. The loan is interest free and repayable on demand.

 
Page 7