Registered number
07716683
RISHIKA CONSTRUCTION LIMITED
Filleted Accounts
31 July 2024
RISHIKA CONSTRUCTION LIMITED
Registered number: 07716683
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 29,460 34,436
Current assets
Stocks 69,855 -
Debtors 4 112,901 221,344
Cash at bank and in hand 75,803 92,440
258,559 313,784
Creditors: amounts falling due within one year 5 (201,655) (246,343)
Net current assets 56,904 67,441
Total assets less current liabilities 86,364 101,877
Creditors: amounts falling due after more than one year 6 (46,004) (70,784)
Net assets 40,360 31,093
Capital and reserves
Called up share capital 100 100
Profit and loss account 40,260 30,993
Shareholders' funds 40,360 31,093
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 members have 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.
Mr Rajneesh CHOPRA
Director
Approved by the board on 17 April 2025
RISHIKA CONSTRUCTION LIMITED
Notes to the Accounts
for the year ended 31 July 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 (as applied to small entities by section 1A of the standard).
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 3,198 43,369 46,567
At 31 July 2024 3,198 43,369 46,567
Depreciation
At 1 August 2023 214 11,917 12,131
Charge for the year 640 4,336 4,976
At 31 July 2024 854 16,253 17,107
Net book value
At 31 July 2024 2,344 27,116 29,460
At 31 July 2023 2,984 31,452 34,436
4 Debtors 2024 2023
£ £
Trade debtors 69,650 178,593
Amounts owed by group undertakings and undertakings in which the company has a participating interest 16,000 15,500
Other debtors 27,251 27,251
112,901 221,344
5 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 400 1,000
Bank loans and overdrafts 33,974 36,722
Trade creditors 75,798 77,633
Taxation and social security costs 64,308 60,730
Other creditors 27,175 70,258
201,655 246,343
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 46,004 70,784
7 Transaction with Director
The director loan to the company at the year end was £18,874 (£61,656 in 2023). During the year company paid the dividends of £50,128(74,500 in 2023) to director and its spouse for their shareholding.
8 Controlling party
The company is under the control of its director by virture of his shareholding in the company.
9 Other information
RISHIKA CONSTRUCTION LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
2 Genesis Close
Staines Upon Thames
England
TW19 7BE
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