IRIS Accounts Production v24.2.0.383 11129829 Board of Directors 1.2.24 31.1.25 31.1.25 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh111298292024-01-31111298292025-01-31111298292024-02-012025-01-31111298292023-01-31111298292023-02-012024-01-31111298292024-01-3111129829ns15:EnglandWales2024-02-012025-01-3111129829ns14:PoundSterling2024-02-012025-01-3111129829ns10:Director12024-02-012025-01-3111129829ns10:PrivateLimitedCompanyLtd2024-02-012025-01-3111129829ns10:SmallEntities2024-02-012025-01-3111129829ns10:AuditExempt-NoAccountantsReport2024-02-012025-01-3111129829ns10:SmallCompaniesRegimeForDirectorsReport2024-02-012025-01-3111129829ns10:SmallCompaniesRegimeForAccounts2024-02-012025-01-3111129829ns10:FullAccounts2024-02-012025-01-3111129829ns10:OrdinaryShareClass12024-02-012025-01-3111129829ns10:Director22024-02-012025-01-3111129829ns10:Director32024-02-012025-01-3111129829ns10:RegisteredOffice2024-02-012025-01-3111129829ns5:CurrentFinancialInstruments2025-01-3111129829ns5:CurrentFinancialInstruments2024-01-3111129829ns5:ShareCapital2025-01-3111129829ns5:ShareCapital2024-01-3111129829ns5:RetainedEarningsAccumulatedLosses2025-01-3111129829ns5:RetainedEarningsAccumulatedLosses2024-01-3111129829ns5:WithinOneYearns5:CurrentFinancialInstruments2025-01-3111129829ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-3111129829ns10:OrdinaryShareClass12025-01-3111129829ns5:RetainedEarningsAccumulatedLosses2024-01-3111129829ns5:RetainedEarningsAccumulatedLosses2024-02-012025-01-31
REGISTERED NUMBER: 11129829 (England and Wales)















RICAL PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025






RICAL PROPERTIES LIMITED (REGISTERED NUMBER: 11129829)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RICAL PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 31 January 2025







DIRECTORS: B P Head
A Head
R P Head





REGISTERED OFFICE: The Riding School House
Bulls Lane
Wishaw
Sutton Coldfield
West Midlands
B76 9QW





REGISTERED NUMBER: 11129829 (England and Wales)





ACCOUNTANTS: Phoenix Associates Limited
The Riding School House
Bulls Lane
Wishaw
Sutton Coldfield
West Midlands
B76 9QW

RICAL PROPERTIES LIMITED (REGISTERED NUMBER: 11129829)

BALANCE SHEET
31 January 2025

31/1/25 31/1/24
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,045,297 2,141,548

CURRENT ASSETS
Debtors 5 406,329 -
Cash at bank 108,936 293,306
515,265 293,306
CREDITORS
Amounts falling due within one year 6 2,601,470 1,598,594
NET CURRENT LIABILITIES (2,086,205 ) (1,305,288 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

959,092

836,260

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 959,091 836,259
SHAREHOLDERS' FUNDS 959,092 836,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2025 and were signed on its behalf by:





B P Head - Director


RICAL PROPERTIES LIMITED (REGISTERED NUMBER: 11129829)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2025

1. STATUTORY INFORMATION

Rical Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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. The financial statements have been prepared under the historical cost convention.

As at the period end date the company had net current liabilities totalling £2,086,205 (2024 : £1,305,288). However, included in 'Creditors - amounts due within one year' is a director's loan account totalling £2,512,275 (2024 : £1,512,275). The director has given his assurance that he will not draw upon his loan account until such time as cashflow permits. Consequently, the directors consider the going concern basis of preparation to be applicable.

Significant judgements and estimates
Investment Properties

The value of the properties is assessed by either the directors or an independent property valuation specialist at each reporting date, using publicly available market evidence, comprising primarily of values of comparable properties in the area and national market statistics. However, it is inherently difficult to assess the true market value of the properties without actively marketing the properties for sale.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

The company's properties are held for long-term investment and depreciation is not provided in respect of such properties. At the balance sheet date the investment properties are included at their fair value. This policy represents a departure from the statutory accounting principles, which require depreciation to be provided on all fixed assets. The Directors considers that this policy is necessary in order that the financial statements may give a true and fair view.

Taxation
Taxation for the year comprises current and deferred tax. 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 or deferred 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.


RICAL PROPERTIES LIMITED (REGISTERED NUMBER: 11129829)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2025

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2024 2,141,548
Additions 903,749
At 31 January 2025 3,045,297
NET BOOK VALUE
At 31 January 2025 3,045,297
At 31 January 2024 2,141,548

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/25 31/1/24
£    £   
Amounts owed by participating interests 404,714 -
Other debtors 1,615 -
406,329 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/25 31/1/24
£    £   
Taxation and social security 87,779 85,023
Other creditors 2,513,691 1,513,571
2,601,470 1,598,594

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/1/25 31/1/24
value: £    £   
1 Ordinary £1 1 1

RICAL PROPERTIES LIMITED (REGISTERED NUMBER: 11129829)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2025

8. RESERVES
Retained
earnings
£   

At 1 February 2024 836,259
Profit for the year 122,832
At 31 January 2025 959,091