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Registration number: 06631617

Richard Priday Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Richard Priday Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Richard Priday Limited

(Registration number: 06631617)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

1,738

Current assets

 

Debtors

5

159

-

Creditors: Amounts falling due within one year

6

-

(68)

Net current assets/(liabilities)

 

159

(68)

Net assets

 

159

1,670

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

59

1,570

Shareholders' funds

 

159

1,670

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 23 June 2025
 


Mr Richard Priday
Director

 

Richard Priday Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7C Cranmere Road
Okehampton
Devon
EX20 1UE

Principal activity

The principal activity of the company is the provision of engineering services to the construction industry

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

Trade ceased on the 31 December 2022 and the company will be dissolved as soon as these accounts have been filed.

 

Richard Priday Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Fittings, fixtures and equipment

20% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Richard Priday Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Richard Priday Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

8,125

8,125

Disposals

(8,125)

(8,125)

At 31 December 2024

-

-

Depreciation

At 1 January 2024

6,387

6,387

Eliminated on disposal

(6,387)

(6,387)

At 31 December 2024

-

-

Carrying amount

At 31 December 2024

-

-

At 31 December 2023

1,738

1,738

5

Debtors

2024
£

2023
£

Other debtors

159

-

159

-

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

-

68

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Richard Priday Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8

Related party transactions

Transactions with the director

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Transactions in year

(68)

580

(353)

159

         
       

 

2023

At 1 January 2023
£

Repayments by director
£

At 31 December 2023
£

Transactions in year

48,932

(49,000)

(68)