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COMPANY REGISTRATION NUMBER: 01175458
Richards Customer Care Limited
Filleted Unaudited Abridged Financial Statements
31 October 2023
Richards Customer Care Limited
Abridged Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
299,622
315,148
Current assets
Stocks
18,838
20,384
Debtors
7
1,157,355
1,037,983
Cash at bank and in hand
581,037
270,516
------------
------------
1,757,230
1,328,883
Creditors: amounts falling due within one year
8
982,249
664,245
------------
------------
Net current assets
774,981
664,638
------------
---------
Total assets less current liabilities
1,074,603
979,786
Creditors: amounts falling due after more than one year
9
115,982
160,391
Provisions
Taxation including deferred tax
54,100
18,400
------------
---------
Net assets
904,521
800,995
------------
---------
Richards Customer Care Limited
Abridged Statement of Financial Position (continued)
31 October 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
500
500
Profit and loss account
904,021
800,495
---------
---------
Shareholders funds
904,521
800,995
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
R Garbett
Director
Company registration number: 01175458
Richards Customer Care Limited
Notes to the Abridged Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Great Western Street, Wednesbury, West Midlands, WS10 7LL.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
(c) Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
(d) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
-
10% straight line
Motor vehicles
-
20% reducing balance
CCTV equipment
-
20% straight line
(g) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
(h) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(i) Finance leases and hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 23 (2022: 23 ).
5. Intangible assets
£
Cost
At 1 November 2022 and 31 October 2023
100,000
---------
Amortisation
At 1 November 2022 and 31 October 2023
100,000
---------
Carrying amount
At 31 October 2023
---------
At 31 October 2022
---------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 November 2022
3,870
256,457
699,800
960,127
Additions
29,150
36,907
66,057
Disposals
( 536,442)
( 536,442)
-------
---------
---------
---------
At 31 October 2023
3,870
285,607
200,265
489,742
-------
---------
---------
---------
Depreciation
At 1 November 2022
3,806
71,515
569,658
644,979
Charge for the year
12
38,932
42,639
81,583
Disposals
( 536,442)
( 536,442)
-------
---------
---------
---------
At 31 October 2023
3,818
110,447
75,855
190,120
-------
---------
---------
---------
Carrying amount
At 31 October 2023
52
175,160
124,410
299,622
-------
---------
---------
---------
At 31 October 2022
64
184,942
130,142
315,148
-------
---------
---------
---------
7. Debtors
2023
2022
£
£
Trade debtors
1,013,137
901,556
Prepayments and accrued income
144,218
136,427
------------
------------
1,157,355
1,037,983
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
521,082
271,375
Accruals and deferred income
114,816
59,202
Corporation tax
587
Social security and other taxes
48,662
47,306
Obligations under finance leases and hire purchase contracts
34,409
34,409
Dividends payable
29,999
29,999
Other creditors
223,281
211,367
---------
---------
982,249
664,245
---------
---------
The bank borrowings are secured by a charge over all the assets of the company.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
16,667
26,667
Obligations under finance leases and hire purchase contracts
99,315
133,724
---------
---------
115,982
160,391
---------
---------