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Registered number: 07932001

Rich Inks IT Limited

ACCOUNTS
FOR THE YEAR ENDED 29/02/2024


Rich Inks IT Limited

ACCOUNTS
FOR THE YEAR ENDED 29/02/2024
DIRECTORS
Neil Richardson
REGISTERED OFFICE
111 High Street
Chesham
Buckinghamshire
HP5 1DE
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 07932001

Rich Inks IT Limited

ACCOUNTS
FOR THEYEARENDED29/02/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Rich Inks IT Limited

BALANCE SHEET AT 29/02/2024
20242023
Notes££
FIXED ASSETS
CURRENT ASSETS
Stock9,2509,499
Debtors6239239
Cash at bank and in hand8,68811,873
18,17721,611
CREDITORS: Amounts falling due within one year710,5407,987
NET CURRENT ASSETS7,63713,624
TOTAL ASSETS LESS CURRENT LIABILITIES7,63713,624
CAPITAL AND RESERVES
Called up share capital81010
Profit and loss account7,62713,614
SHAREHOLDERS' FUNDS7,63713,624
For the year ending 29/02/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 25/11/2024 and signed on their behalf by
.............................
Neil Richardson
Director

Rich Inks IT Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 29/02/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1e. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.

Rich Inks IT Limited

2. EMPLOYEES
20242023
No.No.
Average number of employees22
3. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 01/03/20235,0005,000
At 29/02/20245,0005,000
Depreciation
At 01/03/20235,0005,000
At 29/02/20245,0005,000
Net Book Amounts
At 29/02/2024--
4. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 01/03/20235,8235,823
At 29/02/20245,8235,823
Depreciation
At 01/03/20235,8235,823
At 29/02/20245,8235,823
Net Book Amounts
At 29/02/2024--
5. STOCK 20242023
££
Stock comprises:
Stock9,2509,499
9,2509,499

Rich Inks IT Limited

6. DEBTORS 20242023
££
Amounts falling due within one year
Other debtors239239
239239
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax-131
VAT1,6591,328
PAYE control6829
Directors current account49628
Trade creditors4,5842,639
Pension schemes4125
Accruals2,3052,305
Net wages1,3871,502
10,5407,987
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
10 Ordinary shares of £1 each1010
1010