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REGISTERED NUMBER: 07289748 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Rice And Davison Limited

Rice And Davison Limited (Registered number: 07289748)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rice And Davison Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: L B Davison



REGISTERED OFFICE: c/o Baines & Co
46 Rolle Street
Exmouth
Devon
EX8 2SQ



REGISTERED NUMBER: 07289748 (England and Wales)



ACCOUNTANTS: Baines & Co
46 Rolle Street
Exmouth
Devon
EX8 2SQ



BANKERS: Monzo Bank Limited
Broadwalk House
5 Appold Street
London
EC2A 2AG

Rice And Davison Limited (Registered number: 07289748)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5 7
5 7

CURRENT ASSETS
Debtors 6 31,040 28,630
Cash at bank 3,435 4,341
34,475 32,971
CREDITORS
Amounts falling due within one year 7 45,317 44,999
NET CURRENT LIABILITIES (10,842 ) (12,028 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,837

)

(12,021

)

CREDITORS
Amounts falling due after more than one
year

8

14,168

16,791
NET LIABILITIES (25,005 ) (28,812 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (25,105 ) (28,912 )
SHAREHOLDERS' FUNDS (25,005 ) (28,812 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Rice And Davison Limited (Registered number: 07289748)

Balance Sheet - continued
30 June 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 director and authorised for issue on 28 November 2024 and were signed by:





L B Davison - Director


Rice And Davison Limited (Registered number: 07289748)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Rice And Davison 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

Rice And Davison Limited (Registered number: 07289748)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Franchise
£   
COST
At 1 July 2023
and 30 June 2024 15,000
AMORTISATION
At 1 July 2023
and 30 June 2024 15,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023 5,538
Disposals (867 )
At 30 June 2024 4,671
DEPRECIATION
At 1 July 2023 5,531
Charge for year 2
Eliminated on disposal (867 )
At 30 June 2024 4,666
NET BOOK VALUE
At 30 June 2024 5
At 30 June 2023 7

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 6,180 4,488
Other debtors 10,000 10,000
Directors' current accounts 14,234 13,796
Prepayments 626 346
31,040 28,630

Rice And Davison Limited (Registered number: 07289748)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 32,072 32,351
Trade creditors - 1
Tax 10,182 7,773
Social security and other taxes - 90
VAT 1,513 3,284
Accrued expenses 1,550 1,500
45,317 44,999

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans - 2-5 years 12,394 12,394
Bank loans more 5 yr by instal 1,774 4,397
14,168 16,791

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,774 4,397

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 46,240 49,142

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Retained
earnings
£   

At 1 July 2023 (28,912 )
Profit for the year 39,807
Dividends (36,000 )
At 30 June 2024 (25,105 )

Rice And Davison Limited (Registered number: 07289748)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
L B Davison
Balance outstanding at start of year 13,796 -
Amounts advanced 438 13,796
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,234 13,796

Interest has been charged on the directors' loans at 2% when overdrawn. There are no fixed repayment terms.

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £36,000 (2023 - £32,000) were paid to the director .

14. ULTIMATE CONTROLLING PARTY

The controlling party is L B Davison.

The ultimate controlling party is L B Davison.