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REGISTERED NUMBER: 11540552 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

RICHDEN DEVELOPMENTS LTD

RICHDEN DEVELOPMENTS LTD (REGISTERED NUMBER: 11540552)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Balance sheet 1

Notes to the financial statements 3


RICHDEN DEVELOPMENTS LTD (REGISTERED NUMBER: 11540552)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
Fixed assets
Tangible assets 4 379 -
Investment property 5 640,000 640,000
640,379 640,000

Current assets
Debtors 6 8,690 11,204
Cash at bank 8,956 5,041
17,646 16,245
Creditors
Amounts falling due within one year 7 18,588 17,204
Net current liabilities (942 ) (959 )
Total assets less current liabilities 639,437 639,041

Creditors
Amounts falling due after more than one year 8 (322,201 ) (329,676 )

Provisions for liabilities 10 (52,417 ) (52,344 )
Net assets 264,819 257,021

Capital and reserves
Called up share capital 11 4 4
Fair value reserve 12 157,033 157,033
Retained earnings 107,782 99,984
Shareholders' funds 264,819 257,021

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

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

RICHDEN DEVELOPMENTS LTD (REGISTERED NUMBER: 11540552)

BALANCE SHEET - continued
31 AUGUST 2024


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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:





Mr T D Richards - Director


RICHDEN DEVELOPMENTS LTD (REGISTERED NUMBER: 11540552)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. Statutory information

Richden Developments Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 11540552. The registered office and business address is 22 Rufford Avenue, Northampton, NN3 3NY.

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 represents income received in respect of residential property rental.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the statement of comprehensive income.

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 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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

RICHDEN DEVELOPMENTS LTD (REGISTERED NUMBER: 11540552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. Tangible fixed assets
Computer
equipment
£   
Cost
Additions 506
At 31 August 2024 506
Depreciation
Charge for year 127
At 31 August 2024 127
Net book value
At 31 August 2024 379

5. Investment property
Total
£   
Cost
At 1 September 2023
and 31 August 2024 640,000
Net book value
At 31 August 2024 640,000
At 31 August 2023 640,000

The director has valued the investment property at 31 August 2024 based on current market conditions.

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Directors' current accounts 7,355 10,183
Prepayments and accrued income 1,335 1,021
8,690 11,204

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 13,781 13,506
Tax 2,131 1,898
Accruals and deferred income 2,676 1,800
18,588 17,204

RICHDEN DEVELOPMENTS LTD (REGISTERED NUMBER: 11540552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 13,781 13,506
Bank loans - 2-5 years 41,344 40,517
Bank loans more 5 yr by instal 267,076 275,653
322,201 329,676

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 267,076 275,653

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank Loans 335,982 343,182

Charter Court Financial Services Limited has legal charges over the 125 Stanhope Road, Northampton property, dated 29 November 2019.

The Mortgage Works (UK) PLC has legal charges over the 62 Lyon Road, Northampton property, dated 3 June 2024.

10. Provisions for liabilities
2024 2023
£    £   
Deferred tax 52,417 52,344

Deferred
tax
£   
Balance at 1 September 2023 52,344
Charge to Income statement during year 73
Balance at 31 August 2024 52,417

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4 Ordinary £1 4 4

RICHDEN DEVELOPMENTS LTD (REGISTERED NUMBER: 11540552)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


12. Reserves
Fair
value
reserve
£   
At 1 September 2023
and 31 August 2024 157,033

13. Directors' advances, credits and guarantees

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

2024 2023
£    £   
Mr T D Richards and Mrs V Richards
Balance outstanding at start of year 10,183 5,699
Amounts advanced 7,355 12,560
Amounts repaid (10,183 ) (8,076 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,355 10,183

At the balance sheet date the Directors, Mr and Mrs Richards, owed the company £7,355. The amount outstanding at the balance sheet date was repaid in full within 9 months of the year end.

14. Ultimate controlling party

The Company is under the control of the Directors, Mr and Mrs Richards by virtue of their combined 100% holding of the issued voting share capital of the Company.