IRIS Accounts Production v24.3.0.553 09221103 director 1.11.22 31.10.23 31.10.23 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh092211032022-10-31092211032023-10-31092211032022-11-012023-10-31092211032021-10-31092211032021-11-012022-10-31092211032022-10-3109221103ns15:EnglandWales2022-11-012023-10-3109221103ns14:PoundSterling2022-11-012023-10-3109221103ns10:Director12022-11-012023-10-3109221103ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3109221103ns10:SmallEntities2022-11-012023-10-3109221103ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3109221103ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3109221103ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3109221103ns10:FullAccounts2022-11-012023-10-3109221103ns10:OrdinaryShareClass12022-11-012023-10-3109221103ns10:RegisteredOffice2022-11-012023-10-3109221103ns5:CurrentFinancialInstruments2023-10-3109221103ns5:CurrentFinancialInstruments2022-10-3109221103ns5:Non-currentFinancialInstruments2023-10-3109221103ns5:Non-currentFinancialInstruments2022-10-3109221103ns5:ShareCapital2023-10-3109221103ns5:ShareCapital2022-10-3109221103ns5:FurtherSpecificReserve3ComponentTotalEquity2023-10-3109221103ns5:FurtherSpecificReserve3ComponentTotalEquity2022-10-3109221103ns5:RetainedEarningsAccumulatedLosses2023-10-3109221103ns5:RetainedEarningsAccumulatedLosses2022-10-3109221103ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3109221103ns5:WithinOneYearns5:CurrentFinancialInstruments2022-10-3109221103ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-10-3109221103ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-10-3109221103ns5:Secured2023-10-3109221103ns5:Secured2022-10-3109221103ns10:OrdinaryShareClass12023-10-3109221103ns5:RetainedEarningsAccumulatedLosses2022-10-3109221103ns5:FurtherSpecificReserve3ComponentTotalEquity2022-10-3109221103ns5:RetainedEarningsAccumulatedLosses2022-11-012023-10-31
REGISTERED NUMBER: 09221103 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

RICHWOOD PROPERTY LIMITED

RICHWOOD PROPERTY LIMITED (REGISTERED NUMBER: 09221103)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


RICHWOOD PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: M Richman





REGISTERED OFFICE: Unit 1
54 The Burroughs
London
NW4 4AN





REGISTERED NUMBER: 09221103 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

RICHWOOD PROPERTY LIMITED (REGISTERED NUMBER: 09221103)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Investment property 4 200,000 200,000

CURRENT ASSETS
Debtors 5 76,275 76,820
Cash at bank - 1
76,275 76,821
CREDITORS
Amounts falling due within one year 6 (57,788 ) (51,575 )
NET CURRENT ASSETS 18,487 25,246
TOTAL ASSETS LESS CURRENT
LIABILITIES

218,487

225,246

CREDITORS
Amounts falling due after more than one
year

7

(183,846

)

(185,142

)

PROVISIONS FOR LIABILITIES (7,876 ) (7,876 )
NET ASSETS 26,765 32,228

CAPITAL AND RESERVES
Called up share capital 9 2 2
Fair value reserve 10 41,452 41,452
Retained earnings 10 (14,689 ) (9,226 )
SHAREHOLDERS' FUNDS 26,765 32,228

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

RICHWOOD PROPERTY LIMITED (REGISTERED NUMBER: 09221103)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2023


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 29 October 2024 and were signed by:





M Richman - Director


RICHWOOD PROPERTY LIMITED (REGISTERED NUMBER: 09221103)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Richwood Property 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 200,000
NET BOOK VALUE
At 31 October 2023 200,000
At 31 October 2022 200,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2020 31,452
Valuation in 2021 10,000
Cost 158,548
200,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors - 1,274
Other debtors 76,275 75,546
76,275 76,820

RICHWOOD PROPERTY LIMITED (REGISTERED NUMBER: 09221103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 105 -
Trade creditors 2,902 -
Taxation and social security 248 346
Other creditors 54,533 51,229
57,788 51,575

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 183,846 185,142

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 83,730 83,730

Repayable by instalments
Bank loans more 5 yr by instal 56,312 57,883

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank overdraft 105 -
Bank loans 183,846 185,142
183,951 185,142

1. Long term bank loan is secured by first charge over the company's investment property.

2. Under the bank loan, £43,804 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
2 Ordinary £1 2 2

RICHWOOD PROPERTY LIMITED (REGISTERED NUMBER: 09221103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 November 2022 (9,226 ) 41,452 32,226
Deficit for the year (3,463 ) (3,463 )
Dividends (2,000 ) (2,000 )
At 31 October 2023 (14,689 ) 41,452 26,763

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2022 - £2,000) were paid to the directors .

12. ULTIMATE CONTROLLING PARTY

The controlling party is M Richman.