Rioja Consulting Limited
Registered number: 08541394
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 32,123 37,340
Current assets
Debtors 4 2,395 2,131
Cash at bank and in hand 61,137 110,231
63,532 112,362
Creditors: amounts falling due within one year 5 (14,092) (30,710)
Net current assets 49,440 81,652
Total assets less current liabilities 81,563 118,992
Creditors: amounts falling due after more than one year 6 (22,867) (23,149)
Net assets 58,696 95,843
Capital and reserves
Called up share capital 200 200
Profit and loss account 58,496 95,643
Shareholder's funds 58,696 95,843
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Narrinder Rakkar
Director
Approved by the board on 28 November 2024
Rioja Consulting Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicle over 5 years
Fixtures, fittings, tools and equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 37,839 43,040 80,879
Additions 6,836 - 6,836
At 31 May 2024 44,675 43,040 87,715
Depreciation
At 1 June 2023 34,931 8,608 43,539
Charge for the year 3,445 8,608 12,053
At 31 May 2024 38,376 17,216 55,592
Net book value
At 31 May 2024 6,299 25,824 32,123
At 31 May 2023 2,908 34,432 37,340
4 Debtors 2024 2023
£ £
Other debtors 2,395 2,131
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax - 12,783
Other taxes and social security costs 6,012 7,326
Other creditors 8,080 10,601
14,092 30,710
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 22,867 23,149
7 Controlling party
During the year, the company was wholly under the control of the directors.
8 Other information
Rioja Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Hill House Court
Pattishall
Towcester
NN12 8JN
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