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REGISTERED NUMBER: 07960725 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

RICHARD & ASSOCIATES LIMITED

RICHARD & ASSOCIATES LIMITED (REGISTERED NUMBER: 07960725)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

RICHARD & ASSOCIATES LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: K Richard
Mrs A Richard





REGISTERED OFFICE: The Granary
Dunorlan Farm
Halls Hole Road
Tunbridge Wells
Kent
TN2 4RE





REGISTERED NUMBER: 07960725 (England and Wales)





ACCOUNTANTS: Perspective Accounting Limited
Unit B2, Birdineye Farm
Birdineye Hill
Uckfield
East Sussex
TN22 5HA

RICHARD & ASSOCIATES LIMITED (REGISTERED NUMBER: 07960725)

Balance Sheet
31 MARCH 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,027 15,969
Investment property 5 4,327,500 3,834,750
4,335,527 3,850,719

CURRENT ASSETS
Debtors 6 176,554 102,341
Cash at bank 163,360 404,424
339,914 506,765
CREDITORS
Amounts falling due within one year 7 167,368 98,526
NET CURRENT ASSETS 172,546 408,239
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,508,073

4,258,958

PROVISIONS FOR LIABILITIES 8 215,062 138,867
NET ASSETS 4,293,011 4,120,091

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 4,292,911 4,119,991
SHAREHOLDERS' FUNDS 4,293,011 4,120,091

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

RICHARD & ASSOCIATES LIMITED (REGISTERED NUMBER: 07960725)

Balance Sheet - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





K Richard - Director


RICHARD & ASSOCIATES LIMITED (REGISTERED NUMBER: 07960725)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Richard & Associates 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.

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

Rental income is recognised on an accruals basis over the period which the property is let.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Land & buildings are carried at the revalued amount and are shown at their current value at the balance sheet date. The valuation is provided by the director at the end of each year.

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.

The basis of valuation is Open Market Value based on comparable evidence from similar properties in the vicinity of each subject property. The comparable evidence is a combination of rental, sales and investment yields in line with RICS guidelines.

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

Current or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

RICHARD & ASSOCIATES LIMITED (REGISTERED NUMBER: 07960725)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 36,690
Additions 1,499
Disposals (10,344 )
At 31 March 2024 27,845
DEPRECIATION
At 1 April 2023 20,721
Charge for year 2,675
Eliminated on disposal (3,578 )
At 31 March 2024 19,818
NET BOOK VALUE
At 31 March 2024 8,027
At 31 March 2023 15,969

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,834,750
Additions 177,027
Revaluations 315,723
At 31 March 2024 4,327,500
NET BOOK VALUE
At 31 March 2024 4,327,500
At 31 March 2023 3,834,750

No depreciation is provided in respect of the investment properties.

RICHARD & ASSOCIATES LIMITED (REGISTERED NUMBER: 07960725)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 4,327,500

If investment properties had not been revalued they would have been included at the following historical cost:

31/3/24 31/3/23
£    £   
Cost 3,680,133 3,503,106

The investment properties were valued on an open market basis on 31 March 2024 by Oliver Chapman MRICS. .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 12,790 31,336
Other debtors 163,764 71,005
176,554 102,341

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Taxation and social security 29,140 37,998
Other creditors 138,228 60,528
167,368 98,526

8. PROVISIONS FOR LIABILITIES
31/3/24 31/3/23
£    £   
Deferred tax
Accelerated capital allowances 2,006 3,992
Other timing differences 213,056 134,875
215,062 138,867

Deferred
tax
£   
Balance at 1 April 2023 138,867
Property revaluation 78,181
Unwinding capital allowances (1,986 )
Balance at 31 March 2024 215,062

RICHARD & ASSOCIATES LIMITED (REGISTERED NUMBER: 07960725)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. RESERVES
Retained
earnings
£   

At 1 April 2023 4,119,991
Profit for the year 322,920
Dividends (150,000 )
At 31 March 2024 4,292,911

10. OTHER FINANCIAL COMMITMENTS

At the year end, the company had made commitments to property repairs totalling approximately £62,000. The majority of this amount has been paid subsequent to the year end and the remainder will be paid in due course.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company had provided loans to the director, Mr K Richard. At the start of the year, the loans totalled £57,646 and these were repaid during the year, along with interest totalling £770 which was charged at the official rate.

Following the above repayments, a total of £92,342 was lent by Mr Richard to the company with a total of £22,447 being subsequently repaid to him, leaving a balance of £69,895. This loan is interest free and repayable on demand and it is expected that this will be repaid within 1 year.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Kalmax Limited..

The ultimate controlling party is K Richard.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Richard & Associates Limited


The following reproduces the text of the report prepared for the directors 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 Directors 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 Richard & Associates Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Board of Directors of Richard & Associates Limited, as a body, in accordance with the terms of our engagement letter dated 19 October 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Richard & Associates Limited and state those matters that we have agreed to state to the Board of Directors of Richard & Associates Limited, as a body, 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 Richard & Associates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Richard & Associates 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 Richard & Associates Limited. You consider that Richard & Associates 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 Richard & Associates 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.






Perspective Accounting Limited
Unit B2, Birdineye Farm
Birdineye Hill
Uckfield
East Sussex
TN22 5HA


28 November 2024