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Company Registration No. 13398362 (England and Wales)
Richwise Living Ltd Unaudited accounts for the year ended 31 May 2024
Richwise Living Ltd Unaudited accounts Contents
Page
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Richwise Living Ltd Company Information for the year ended 31 May 2024
Director
Ling Yu Chan
Company Number
13398362 (England and Wales)
Registered Office
5 Tacket Street Ipswich IP4 1AU England
Accountants
CMZ Accounting Ltd Unit A, 82 James Carter Road Mildenhall Suffolk IP28 7DE
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Richwise Living Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,442 
5,433 
Current assets
Inventories
1,000 
2,833 
Debtors
2,045 
- 
Cash at bank and in hand
1,201 
1,040 
4,246 
3,873 
Creditors: amounts falling due within one year
(217,066)
(184,389)
Net current liabilities
(212,820)
(180,516)
Net liabilities
(208,378)
(175,083)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(208,379)
(175,084)
Shareholders' funds
(208,378)
(175,083)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 February 2025 and were signed on its behalf by
Ling Yu Chan Director Company Registration No. 13398362
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Richwise Living Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Richwise Living Ltd is a private company, limited by shares, registered in England and Wales, registration number 13398362. The registered office is 5 Tacket Street, Ipswich, IP4 1AU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20%
Computer equipment
20%
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
6,057 
734 
6,791 
Additions
- 
248 
248 
At 31 May 2024
6,057 
982 
7,039 
Depreciation
At 1 June 2023
1,150 
208 
1,358 
Charge for the year
1,211 
28 
1,239 
At 31 May 2024
2,361 
236 
2,597 
Net book value
At 31 May 2024
3,696 
746 
4,442 
At 31 May 2023
4,907 
526 
5,433 
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Richwise Living Ltd Notes to the Accounts for the year ended 31 May 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
140 
- 
Accrued income and prepayments
1,905 
- 
2,045 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
57 
Trade creditors
2,147 
56 
Taxes and social security
193 
1,841 
Other creditors
10,384 
25,483 
Loans from directors
203,106 
156,952 
Accruals
1,236 
- 
217,066 
184,389 
7
Average number of employees
During the year the average number of employees was 2 (2023: 3).
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