Acorah Software Products - Accounts Production 16.1.300 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 13593778 Mr GAURAV SINGLA Mr SUKHMEEN HANDA iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13593778 2023-08-31 13593778 2024-08-31 13593778 2023-09-01 2024-08-31 13593778 frs-core:CurrentFinancialInstruments 2024-08-31 13593778 frs-core:Non-currentFinancialInstruments 2024-08-31 13593778 frs-core:ComputerEquipment 2023-09-01 2024-08-31 13593778 frs-core:FurnitureFittings 2024-08-31 13593778 frs-core:FurnitureFittings 2023-09-01 2024-08-31 13593778 frs-core:FurnitureFittings 2023-08-31 13593778 frs-core:NetGoodwill 2024-08-31 13593778 frs-core:NetGoodwill 2023-09-01 2024-08-31 13593778 frs-core:NetGoodwill 2023-08-31 13593778 frs-core:MotorVehicles 2023-09-01 2024-08-31 13593778 frs-core:PlantMachinery 2023-09-01 2024-08-31 13593778 frs-core:ShareCapital 2024-08-31 13593778 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 13593778 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 13593778 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 13593778 frs-bus:SmallEntities 2023-09-01 2024-08-31 13593778 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 13593778 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 13593778 frs-bus:Director1 2023-09-01 2024-08-31 13593778 frs-bus:Director2 2023-09-01 2024-08-31 13593778 frs-countries:EnglandWales 2023-09-01 2024-08-31 13593778 2022-08-31 13593778 2023-08-31 13593778 2022-09-01 2023-08-31 13593778 frs-core:CurrentFinancialInstruments 2023-08-31 13593778 frs-core:Non-currentFinancialInstruments 2023-08-31 13593778 frs-core:ShareCapital 2023-08-31 13593778 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 13593778
RICH RETAIL LIMITED
Financial Statements
For The Year Ended 31 August 2024
Anjum's Accountants
IFA
Gemini Business Park
Sheepscar Way
Leeds
West Yorkshire
LS7 3JB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13593778
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 11,500 11,500
Tangible Assets 5 3,540 4,142
15,040 15,642
CURRENT ASSETS
Stocks 6 13,250 9,352
Debtors 7 5,680 5,680
Cash at bank and in hand 5,254 5,332
24,184 20,364
Creditors: Amounts Falling Due Within One Year 8 (39,551 ) (40,385 )
NET CURRENT ASSETS (LIABILITIES) (15,367 ) (20,021 )
TOTAL ASSETS LESS CURRENT LIABILITIES (327 ) (4,379 )
NET LIABILITIES (327 ) (4,379 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (329 ) (4,381 )
SHAREHOLDERS' FUNDS (327) (4,379)
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Page 2
For the year ending 31 August 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr GAURAV SINGLA
Director
06/01/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
RICH RETAIL LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 13593778 . The registered office is The Village Store 214 Batley Road, Kirkhamgate, Wakefield, WF2 0SH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15%
Motor Vehicles 15%
Fixtures & Fittings 15%
Computer Equipment 15%
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 11,500
As at 31 August 2024 11,500
Net Book Value
As at 31 August 2024 11,500
As at 1 September 2023 11,500
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 September 2023 5,707
As at 31 August 2024 5,707
Depreciation
As at 1 September 2023 1,565
Provided during the period 602
As at 31 August 2024 2,167
Net Book Value
As at 31 August 2024 3,540
As at 1 September 2023 4,142
6. Stocks
2024 2023
£ £
Stock 13,250 9,352
7. Debtors
2024 2023
£ £
Due within one year
Due after more than one year
Trade debtors - 5,030
Other debtors 5,680 650
5,680 5,680
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,387 1,831
Other taxes and social security 236 382
VAT 468 856
Accruals and deferred income 1,643 1,500
Directors' loan accounts 35,817 35,816
39,551 40,385
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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