1 November 2023 v2025.5.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPSC5363562023-11-012024-10-31SC5363562024-10-31SC5363562023-10-31SC536356core:WithinOneYear2024-10-31SC536356core:WithinOneYear2023-10-31SC536356core:ShareCapital2024-10-31SC536356core:ShareCapital2023-10-31SC536356core:RevaluationReserve2024-10-31SC536356core:RevaluationReserve2023-10-31SC536356core:RetainedEarningsAccumulatedLosses2024-10-31SC536356core:RetainedEarningsAccumulatedLosses2023-10-31SC536356bus:Director12023-11-012024-10-31SC536356bus:RegisteredOffice2023-11-012024-10-31SC536356core:OfficeEquipment2023-11-012024-10-31SC5363562022-11-012023-10-31SC536356core:LandBuildings2024-10-31SC536356core:PlantMachinery2024-10-31SC536356core:LandBuildings2023-10-31SC53635612023-11-012024-10-31SC536356countries:Scotland2023-11-012024-10-31SC536356bus:AuditExemptWithAccountantsReport2023-11-012024-10-31SC536356bus:PrivateLimitedCompanyLtd2023-11-012024-10-31SC536356bus:SmallEntities2023-11-012024-10-31SC536356bus:FullAccounts2023-11-012024-10-31
Company registration number:
SC536356
Richmond Deagle Limited
Unaudited Filleted Financial Statements for the year ended
31 October 2024
Richmond Deagle Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Richmond Deagle Limited
Year ended
31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Richmond Deagle Limited
for the year ended
31 October 2024
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the ICAS, I am subject to its ethical and other professional requirements which are detailed at http://www.icas.com/​accountspreparationguidance.
This report is made solely to the Board of Directors of
Richmond Deagle Limited
, as a body, in accordance with the terms of my engagement letter dated 3 March 2021. My work has been undertaken solely to prepare for your approval the
financial statements
of
Richmond Deagle Limited
and state those matters that I have agreed to state to the Board of Directors of
Richmond Deagle Limited
, as a body, in this report in accordance with the requirements of the ICAS as detailed at http://www.icas.com/​accountspreparationguidance. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Richmond Deagle Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Richmond Deagle Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and loss of
Richmond Deagle Limited
. You consider that
Richmond Deagle Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Richmond Deagle Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
James Bell & Co
Chartered Accountants
20 Wellington Square
Ayr
KA7 1EZ
Scotland
Date:
24 January 2025
Richmond Deagle Limited
Statement of Financial Position
31 October 2024
20242023
Note££
Fixed assets    
Tangible assets 5
57,000
 
57,000
 
Creditors: amounts falling due within one year 6
(36,343
)
(35,273
)
Net current liabilities
(36,343
)
(35,273
)
Total assets less current liabilities 20,657   21,727  
Provisions for liabilities
(637
)
(637
)
Net assets
20,020
 
21,090
 
Capital and reserves    
Called up share capital
100
 
100
 
Revaluation reserve
22,000
 
22,000
 
Profit and loss account
(2,080
)
(1,010
)
Shareholders funds
20,020
 
21,090
 
For the year ending
31 October 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
24 January 2025
, and are signed on behalf of the board by:
Richard John Gale
Director
Company registration number:
SC536356
Richmond Deagle Limited
Notes to the Financial Statements
Year ended
31 October 2024

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
20 Wellington Square
,
Ayr
,
KA7 1EZ
, Scotland.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
33.33% straight line

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 November 2023
and
31 October 2024
57,000
 
478
 
57,478
 
Depreciation      
At
1 November 2023
and
31 October 2024
-  
478
 
478
 
Carrying amount      
At
31 October 2024
57,000
  -  
57,000
 
At 31 October 2023
57,000
  -  
57,000
 

Tangible assets held at valuation

In respect of tangible assets held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
Land and buildingsLand and buildings
20242023
££
Aggregate historical cost 35,000   35,000  
Carrying amount 35,000   35,000  

Investment property

Included in land and buildings are the following amounts in relation to investment properties:
2024
£
Carrying value at
1 November 2023
and
31 October 2024
57,000
 
Investment property comprises of a retail unit. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
995
 
652
 
Other creditors
35,348
 
34,621
 
36,343
 
35,273
 

7 Director's advances, credit and guarantees

Creditors due within one year includes the amount of £34,294 due by the company to its director (2023- £33,567). The loan was made on an interest free basis and no repayment terms have been set.