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REGISTERED NUMBER: 12900635 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Ricco Properties Ltd

Ricco Properties Ltd (Registered number: 12900635)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Ricco Properties Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: C J Fink
Mrs J F Rabbitte





REGISTERED OFFICE: Depot
Station Street
Misterton
Doncaster
South Yorkshire
DN10 4DE





REGISTERED NUMBER: 12900635 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ricco Properties Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ricco Properties Ltd for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ricco Properties Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ricco Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Ricco Properties Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ricco Properties Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ricco Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ricco Properties Ltd. You consider that Ricco Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ricco Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA


21 May 2025

Ricco Properties Ltd (Registered number: 12900635)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 6,754 8,442
Investment property 5 550,000 1,025,000
556,754 1,033,442

CURRENT ASSETS
Debtors 6 1,800 12,600
Cash at bank 26,745 12,045
28,545 24,645
CREDITORS
Amounts falling due within one year 7 1,424 1,301
NET CURRENT ASSETS 27,121 23,344
TOTAL ASSETS LESS CURRENT
LIABILITIES

583,875

1,056,786

CREDITORS
Amounts falling due after more than one
year

8

(856,404

)

(1,037,385

)

PROVISIONS FOR LIABILITIES - (17,744 )
NET (LIABILITIES)/ASSETS (272,529 ) 1,657

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 - 68,807
Retained earnings (272,629 ) (67,250 )
SHAREHOLDERS' FUNDS (272,529 ) 1,657

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 21 May 2025 and were signed on its behalf by:



Mrs J F Rabbitte - Director


Ricco Properties Ltd (Registered number: 12900635)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Ricco Properties Ltd 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 modified by the revaluation of certain assets.

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

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

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.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

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 (2023 - NIL).

Ricco Properties Ltd (Registered number: 12900635)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2023
and 30 September 2024 13,269
DEPRECIATION
At 1 October 2023 4,827
Charge for year 1,688
At 30 September 2024 6,515
NET BOOK VALUE
At 30 September 2024 6,754
At 30 September 2023 8,442

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 1,025,000
Additions 213,704
Disposals (425,000 )
Impairments (263,704 )
At 30 September 2024 550,000
NET BOOK VALUE
At 30 September 2024 550,000
At 30 September 2023 1,025,000

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2024 (195,977 )
Cost 745,977
550,000

If investment property had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 745,977 940,053

Investment property was valued on an open market basis on 30 September 2024 by the director J F Rabbitte .

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors - 10,800

Ricco Properties Ltd (Registered number: 12900635)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors 1,800 1,800

Aggregate amounts 1,800 12,600

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 1,424 1,301

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 148,981 423,962
Other creditors 707,423 613,423
856,404 1,037,385

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 148,981 423,962

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 148,981 423,962

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
value
reserve
£   
At 1 October 2023 68,807
Revaluation (68,807 )

At 30 September 2024 -