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REGISTERED NUMBER: 06216036 (England and Wales)















Financial Statements for the Year Ended 30 April 2024

for

Richlex Ltd

Richlex Ltd (Registered number: 06216036)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Richlex Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mrs. M. Feingold





SECRETARY: Mrs M C Feingold





REGISTERED OFFICE: 10 Pangbourne Drive
Stanmore
Middlesex
HA7 4QT





REGISTERED NUMBER: 06216036 (England and Wales)





ACCOUNTANTS: Reliable Accounts Ltd
Chartered Certified Accountants
10 Pangbourne Drive
Stanmore
Middlesex
HA7 4QT

Richlex Ltd (Registered number: 06216036)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 3,944 4,382
Investment property 4 1,850,000 1,850,000
1,853,944 1,854,382

CURRENT ASSETS
Debtors 5 3,196 3,103
Cash at bank 93,052 80,309
96,248 83,412
CREDITORS
Amounts falling due within one year 6 1,195,290 1,190,354
NET CURRENT LIABILITIES (1,099,042 ) (1,106,942 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

754,902

747,440

PROVISIONS FOR LIABILITIES 52,880 52,880
NET ASSETS 702,022 694,560

CAPITAL AND RESERVES
Called up share capital 7 100 100
Fair value reserve 8 654,681 654,681
Retained earnings 8 47,241 39,779
SHAREHOLDERS' FUNDS 702,022 694,560

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

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

The director acknowledges her 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.

Richlex Ltd (Registered number: 06216036)

Balance Sheet - continued
30 April 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 20 January 2025 and were signed by:





Mrs. M. Feingold - Director


Richlex Ltd (Registered number: 06216036)

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

1. 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.

Turnover
Turnover represents income from property in the United Kingdom.

Tangible fixed assets
The company's freehold and long leasehold investment properties and improvements are shown at fair value.
Related furniture, furnishings and equipment have been depreciated on the reducing balance method, to write off the cost of the assets concerned over their anticipated useful lives.

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.

Taxation
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 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.

Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits.

Going concern
The director confirms that, in her opinion, the company will continue as a going concern for a period of 12 months from the approval of these financial statements. Consequently, the financial statements should be drawn up on a going concern basis.

2. EMPLOYEES AND DIRECTORS

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

Richlex Ltd (Registered number: 06216036)

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

3. TANGIBLE FIXED ASSETS
Furniture,
Furnishings
& equipment
£   
COST
At 1 May 2023
and 30 April 2024 19,155
DEPRECIATION
At 1 May 2023 14,773
Charge for year 438
At 30 April 2024 15,211
NET BOOK VALUE
At 30 April 2024 3,944
At 30 April 2023 4,382

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 1,850,000
NET BOOK VALUE
At 30 April 2024 1,850,000
At 30 April 2023 1,850,000

The Company's investment properties were valued by the Director at 30 April 2023 based on the Director's understanding of property market conditions and the specific properties concerned. No revaluation was made this year because in the opinion of the director, the value of the properties was little different from the current carrying value.

If these properties had not been included at valuation, this would be included under the historical cost convention at the original cost of £1,195,319.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Tax recoverable 2,272 2,272
Other debtors & prepayments 924 831
3,196 3,103

Richlex Ltd (Registered number: 06216036)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Loan from F.R.Properties Ltd 1,162,388 1,162,388
Rent in advance and deposits 7,967 7,400
Corporation Tax 4,413 2,131
Other creditors - 2,528
Director's loan account 18,543 14,657
Accruals and deferred income 1,979 1,250
1,195,290 1,190,354

The loan from F.R. Properties Limited is theoretically repayable on demand but in practice would not be expected to be demanded without reasonable notice.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 May 2023 39,779 654,681 694,460
Profit for the year 17,462 17,462
Dividends (10,000 ) (10,000 )
At 30 April 2024 47,241 654,681 701,922