Registered number
10857726
Rika Investments Limited
Filleted Accounts
31 July 2024
Rika Investments Limited
Registered number: 10857726
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 466,364 324,751
Current assets
Debtors 4 2,025 923
Cash at bank and in hand 26,100 22,066
28,125 22,989
Creditors: amounts falling due within one year 5 (424,876) (290,135)
Net current liabilities (396,751) (267,146)
Total assets less current liabilities 69,613 57,605
Creditors: amounts falling due after more than one year 6 (37,668) (40,606)
Net assets 31,945 16,999
Capital and reserves
Called up share capital 2 2
Profit and loss account 31,943 16,997
Shareholders' funds 31,945 16,999
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.
Samir Gohil
Director
Approved by the board on 24 April 2025
Rika Investments 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.
Investments
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Investment
properties
£
Cost
At 1 August 2023 324,751
Additions 141,613
At 31 July 2024 466,364
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director. The director having suitable knowledge and experience considered the above valuation to be a fair reflection of the value of the investment property as at 31 July 2024.
4 Debtors 2024 2023
£ £
Other debtors 2,025 923
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 210 210
Taxation and social security costs 3,506 2,426
Other creditors 421,160 287,499
424,876 290,135
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 37,668 40,606
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 37,668 40,606
The aggregate amount of creditors for which security has been given amounted to £37,668. These amounts have been secured against the investment property of the company.
8 Other information
Rika Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Royce Grove
Leavesden
Watford
WD25 7GD
Rika Investments Limited 10857726 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts April 2025 Samir Gohil No description of principal activity 10857726 2022-08-01 2023-07-31 10857726 core:WithinOneYear 2023-07-31 10857726 core:AfterOneYear 2023-07-31 10857726 core:ShareCapital 2023-07-31 10857726 core:RetainedEarningsAccumulatedLosses 2023-07-31 10857726 2023-08-01 2024-07-31 10857726 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10857726 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 10857726 bus:Director40 2023-08-01 2024-07-31 10857726 1 2023-08-01 2024-07-31 10857726 2 2023-08-01 2024-07-31 10857726 countries:England 2023-08-01 2024-07-31 10857726 bus:FRS102 2023-08-01 2024-07-31 10857726 bus:FilletedAccounts 2023-08-01 2024-07-31 10857726 2024-07-31 10857726 core:WithinOneYear 2024-07-31 10857726 core:AfterOneYear 2024-07-31 10857726 core:ShareCapital 2024-07-31 10857726 core:RetainedEarningsAccumulatedLosses 2024-07-31 10857726 core:AdditionsToInvestments 2024-07-31 10857726 2023-07-31 iso4217:GBP xbrli:pure