REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 April 2024 |
for |
Richlex Ltd |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Fair value reserve | 8 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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 were approved by the director and authorised for issue on |
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 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
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 |
Other debtors & prepayments | 924 | 831 |
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 |
Other creditors |
Director's loan account | 18,543 | 14,657 |
Accruals and deferred income |
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: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 May 2023 | 694,460 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 30 April 2024 | 701,922 |