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Richards Property Developments And Lettings Ltd
Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 11523157
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 76,717 78,457
76,717 78,457
CURRENT ASSETS
Debtors 5 750 -
Cash at bank and in hand 776,642 115,152
777,392 115,152
Creditors: Amounts Falling Due Within One Year 6 (860,782 ) (184,361 )
NET CURRENT ASSETS (LIABILITIES) (83,390 ) (69,209 )
TOTAL ASSETS LESS CURRENT LIABILITIES (6,673 ) 9,248
Creditors: Amounts Falling Due After More Than One Year 7 (17,333 ) (24,382 )
NET LIABILITIES (24,006 ) (15,134 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (24,007 ) (15,135 )
SHAREHOLDERS' FUNDS (24,006) (15,134)
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Michael Richards
Director
12 May 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Richards Property Developments And Lettings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11523157 . The registered office is Hampson Chambers, Stafford Street, Stone, Staffordshire, ST15 8QW.
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. 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:
Freehold 0%
Fixtures & Fittings 20% SL
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: )
- -
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 73,237 8,700 81,937
As at 31 August 2024 73,237 8,700 81,937
Depreciation
As at 1 September 2023 - 3,480 3,480
Provided during the period - 1,740 1,740
As at 31 August 2024 - 5,220 5,220
Net Book Value
As at 31 August 2024 73,237 3,480 76,717
As at 1 September 2023 73,237 5,220 78,457
Page 2
Page 3
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 750 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 701 -
Other loans 500,000 -
Other creditors 360,081 184,361
860,782 184,361
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 17,333 24,382
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 3