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REGISTERED NUMBER: 08095287 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

T P Richards Limited

T P Richards Limited (Registered number: 08095287)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


T P Richards Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mrs S Monelle
Mr M Richards
Mrs T Richards
Mrs L Walter
Mrs H Wiles-Richards





REGISTERED OFFICE: 7 Regent Street
Kingswood
Bristol
BS15 8JX





REGISTERED NUMBER: 08095287 (England and Wales)





ACCOUNTANTS: Norton Tax Shops Limited
3 & 5 Station Road
Keynsham
Bristol
BS31 2BH

T P Richards Limited (Registered number: 08095287)

Abridged Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 14,564 19,418

CURRENT ASSETS
Stocks 89,032 66,785
Debtors 88,690 168,989
Cash at bank and in hand 494,084 345,999
671,806 581,773
CREDITORS
Amounts falling due within one year 314,377 271,038
NET CURRENT ASSETS 357,429 310,735
TOTAL ASSETS LESS CURRENT
LIABILITIES

371,993

330,153

PROVISIONS FOR LIABILITIES 5 3,641 4,855
NET ASSETS 368,352 325,298

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 368,252 325,198
368,352 325,298

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

T P Richards Limited (Registered number: 08095287)

Abridged Balance Sheet - continued
31 July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 November 2024 and were signed on its behalf by:




Mrs S Monelle - Director Mr M Richards - Director




Mrs T Richards - Director Mrs L Walter - Director




Mrs H Wiles-Richards - Director


T P Richards Limited (Registered number: 08095287)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

T P Richards 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


T P Richards Limited (Registered number: 08095287)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023
and 31 July 2024 62,046
DEPRECIATION
At 1 August 2023 42,628
Charge for year 4,854
At 31 July 2024 47,482
NET BOOK VALUE
At 31 July 2024 14,564
At 31 July 2023 19,418

5. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 3,641 4,855

Deferred
tax
£   
Balance at 1 August 2023 4,855
Credit to Income Statement during year (1,214 )
Balance at 31 July 2024 3,641

T P Richards Limited (Registered number: 08095287)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
Mrs S Monelle
Balance outstanding at start of year 2,685 -
Amounts advanced - 2,685
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,685 2,685

Mr M Richards
Balance outstanding at start of year (186 ) (12,067 )
Amounts repaid - 11,881
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (186 ) (186 )

Mrs T Richards
Balance outstanding at start of year (26,921 ) (38,921 )
Amounts repaid - 12,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (26,921 ) (26,921 )

Mrs L Walter
Balance outstanding at start of year (5,099 ) (12,718 )
Amounts repaid - 7,619
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,099 ) (5,099 )

Mrs H Wiles-Richards
Balance outstanding at start of year (8,738 ) (16,251 )
Amounts repaid - 7,513
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8,738 ) (8,738 )

7. RELATED PARTY DISCLOSURES

During the year under review, £24,554 (2023: £33,546) was charged to Newlook Windows (Bath) Limited and expenses incurred from Newlook Windows (Bath) Limited of £48,480 (2023: £48,480) of which Mrs S Monelle, Mr M Richards, Mrs T Richards, Mrs L Walter and Mrs Wiles Richards are directors. The amounts charged and incurred represents market value and was incurred as part of the normal course of business.