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Registered number: 05515244
Riddhishivans Foods Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Accounts and Tax Management Limited
Chartered Certified Accountants
Sun House
6 Tom Brown Street
Rugby
Warwickshire
CV21 3JT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05515244
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,706 6,275
Tangible Assets 5 69,416 66,751
74,122 73,026
CURRENT ASSETS
Stocks 6 945 1,385
Debtors 7 15,998 48,896
Cash at bank and in hand 10,614 7,414
27,557 57,695
Creditors: Amounts Falling Due Within One Year 8 (71,795 ) (72,364 )
NET CURRENT ASSETS (LIABILITIES) (44,238 ) (14,669 )
TOTAL ASSETS LESS CURRENT LIABILITIES 29,884 58,357
Creditors: Amounts Falling Due After More Than One Year 9 (20,000 ) (38,000 )
NET ASSETS 9,884 20,357
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 9,784 20,257
SHAREHOLDERS' FUNDS 9,884 20,357
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nilesh Patel
Director
08/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Riddhishivans Foods Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05515244 . The registered office is 180 The Long Shoot, Nuneaton, Warwickshire, CV11 6JW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% on reducing value
Fixtures & Fittings 10% on reducing value
Computer Equipment 20% on reducing value
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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Page 4
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 15)
14 15
4. Intangible Assets
Other
£
Cost
As at 1 August 2023 7,844
As at 31 July 2024 7,844
Amortisation
As at 1 August 2023 1,569
Provided during the period 1,569
As at 31 July 2024 3,138
Net Book Value
As at 31 July 2024 4,706
As at 1 August 2023 6,275
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 49,622 175,947 6,392 231,961
Additions 4,962 5,350 316 10,628
As at 31 July 2024 54,584 181,297 6,708 242,589
Depreciation
As at 1 August 2023 38,042 122,702 4,466 165,210
Provided during the period 1,655 5,860 448 7,963
As at 31 July 2024 39,697 128,562 4,914 173,173
Net Book Value
As at 31 July 2024 14,887 52,735 1,794 69,416
As at 1 August 2023 11,580 53,245 1,926 66,751
6. Stocks
2024 2023
£ £
Finished goods 945 1,385
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 15,998 47,925
Other taxes and social security - 971
15,998 48,896
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,881 27,111
Bank loans and overdrafts 12,960 20,692
Other loans 20,000 -
Corporation tax 2,809 7,921
VAT 9,676 9,869
Other creditors 91 412
Accruals and deferred income 1,200 3,675
Director's loan account 9,178 2,684
71,795 72,364
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 20,000 38,000
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5