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Company Registration No. 03481927 (England and Wales)
Rich Rewards Limited Unaudited accounts for the year ended 31 May 2024
Rich Rewards Limited Unaudited accounts Contents
Page
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Rich Rewards Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
310,799 
288,385 
Current assets
Inventories
9,010 
7,610 
Debtors
24,278 
900 
Cash at bank and in hand
52,648 
102,609 
85,936 
111,119 
Creditors: amounts falling due within one year
(211,247)
(227,117)
Net current liabilities
(125,311)
(115,998)
Total assets less current liabilities
185,488 
172,387 
Creditors: amounts falling due after more than one year
(10,833)
(20,833)
Net assets
174,655 
151,554 
Capital and reserves
Called up share capital
204 
204 
Profit and loss account
174,451 
151,350 
Shareholders' funds
174,655 
151,554 
For the year ending 31 May 2024 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by
D M Clarke Director Company Registration No. 03481927
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Rich Rewards Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Rich Rewards Limited is a private company, limited by shares, registered in England and Wales, registration number 03481927. The registered office is The Bell Inn, Bruton Road, Evercreech, Shepton Mallet, Somerset, BA4 6HY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention..
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. In the opinion of the directors no depreciation of freehold buildings is required, as the fabric of the buildings will be maintained to a high standard and as a result the useful life of the building will not be impaired. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% straight line
Fixtures & fittings
10-25% straight line
Computer equipment
33% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Rich Rewards Limited Notes to the Accounts for the year ended 31 May 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2023
1,000 
At 31 May 2024
1,000 
Amortisation
At 1 June 2023
1,000 
At 31 May 2024
1,000 
Net book value
At 31 May 2024
- 
5
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 June 2023
262,110 
21,745 
43,136 
1,698 
328,689 
Additions
23,107 
- 
7,579 
504 
31,190 
Disposals
- 
- 
(6,123)
(288)
(6,411)
At 31 May 2024
285,217 
21,745 
44,592 
1,914 
353,468 
Depreciation
At 1 June 2023
- 
12,222 
26,384 
1,698 
40,304 
Charge for the year
- 
- 
8,776 
- 
8,776 
On disposals
- 
- 
(6,123)
(288)
(6,411)
At 31 May 2024
- 
12,222 
29,037 
1,410 
42,669 
Net book value
At 31 May 2024
285,217 
9,523 
15,555 
504 
310,799 
At 31 May 2023
262,110 
9,523 
16,752 
- 
288,385 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
24,278 
900 
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Rich Rewards Limited Notes to the Accounts for the year ended 31 May 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
15,789 
VAT
17,203 
11,864 
Trade creditors
2,183 
1,532 
Amounts owed to group undertakings and other participating interests
138,245 
176,333 
Taxes and social security
24,986 
7,787 
Other creditors
200 
2,448 
Accruals
18,430 
11,364 
211,247 
227,117 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
10,833 
20,833 
9
Controlling party
The company's parent undertaking is D.S.A. Holdings Limited, 2 Bailey Hill, Castle Cary, Somerset BA7 7AD.
10
Average number of employees
During the year the average number of employees was 14 (2023: 15).
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