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REGISTERED NUMBER: 02583102 (England and Wales)



































Unaudited Financial Statements

for the Year Ended 30 September 2024

for

RICHARDS RESIDENTIAL SUPPLIES LIMITED

RICHARDS RESIDENTIAL SUPPLIES LIMITED (REGISTERED NUMBER: 02583102)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RICHARDS RESIDENTIAL SUPPLIES LIMITED

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Richard McGregor Benson
Valerie Benson





SECRETARY: Valerie Benson





REGISTERED OFFICE: Vivary Buildings
11 Spring Lane
COLNE
Lancashire
BB8 9BD





REGISTERED NUMBER: 02583102 (England and Wales)





ACCOUNTANTS: G & C Professionals Limited
trading as Graham & Company
Chartered Certified Accountants
Cleveland House
1-10 Sitwell Street
KINGSTON UPON HULL
East Yorkshire
HU8 7BE

RICHARDS RESIDENTIAL SUPPLIES LIMITED (REGISTERED NUMBER: 02583102)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 68,191 68,191
Tangible assets 5 22,000 25,839
90,191 94,030

CURRENT ASSETS
Stocks 6 91,207 97,657
Debtors 7 24,088 52,425
Cash in hand 92 25
115,387 150,107
CREDITORS
Amounts falling due within one year 8 123,886 142,842
NET CURRENT (LIABILITIES)/ASSETS (8,499 ) 7,265
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,692

101,295

CREDITORS
Amounts falling due after more than one
year

9

77,341

99,636
NET ASSETS 4,351 1,659

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Share premium 13 14,788 14,788
Retained earnings 13 (11,437 ) (14,129 )
SHAREHOLDERS' FUNDS 4,351 1,659

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.

RICHARDS RESIDENTIAL SUPPLIES LIMITED (REGISTERED NUMBER: 02583102)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:





Richard McGregor Benson - Director


RICHARDS RESIDENTIAL SUPPLIES LIMITED (REGISTERED NUMBER: 02583102)

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

1. STATUTORY INFORMATION

RICHARDS RESIDENTIAL SUPPLIES LIMITED 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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

R & D costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - in accordance with lease term
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


RICHARDS RESIDENTIAL SUPPLIES LIMITED (REGISTERED NUMBER: 02583102)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
R & D
costs
£   
COST
At 1 October 2023
and 30 September 2024 68,191
NET BOOK VALUE
At 30 September 2024 68,191
At 30 September 2023 68,191

R & D costs relate to the development of a product intended for new markets.

RICHARDS RESIDENTIAL SUPPLIES LIMITED (REGISTERED NUMBER: 02583102)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023
and 30 September 2024 5,783 22,525 10,058
DEPRECIATION
At 1 October 2023 5,783 20,649 9,587
Charge for year - 376 71
At 30 September 2024 5,783 21,025 9,658
NET BOOK VALUE
At 30 September 2024 - 1,500 400
At 30 September 2023 - 1,876 471

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 40,988 10,032 89,386
DEPRECIATION
At 1 October 2023 19,488 8,040 63,547
Charge for year 3,000 392 3,839
At 30 September 2024 22,488 8,432 67,386
NET BOOK VALUE
At 30 September 2024 18,500 1,600 22,000
At 30 September 2023 21,500 1,992 25,839

RICHARDS RESIDENTIAL SUPPLIES LIMITED (REGISTERED NUMBER: 02583102)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023
and 30 September 2024 16,950
DEPRECIATION
At 1 October 2023 950
Charge for year 1,500
At 30 September 2024 2,450
NET BOOK VALUE
At 30 September 2024 14,500
At 30 September 2023 16,000

6. STOCKS
2024 2023
£    £   
Goods for resale 49,413 56,550
Maintenance spares 3,000 3,000
Work in progress 38,794 38,107
91,207 97,657

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,360 37,737
Other debtors 13,777 9,962
Prepayments 6,951 4,726
24,088 52,425

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 6,331 34,422
Other loans (see note 10) 13,399 12,201
Hire purchase contracts 3,254 2,762
Trade creditors 41,161 45,666
Social security and other taxes 5,275 3,328
VAT 33,209 24,909
Other creditors 15,201 17,914
Directors' loan accounts 4,356 1,090
Accrued expenses 1,700 550
123,886 142,842

RICHARDS RESIDENTIAL SUPPLIES LIMITED (REGISTERED NUMBER: 02583102)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 10) 25,989 31,631
Other loans (see note 10) 18,613 32,012
Hire purchase contracts 8,739 11,993
Directors loan account 24,000 24,000
77,341 99,636

Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable in more than five
years

3,713

9,627

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 762 28,921
Bank loans payable in less
than one year 5,569 5,501
Funding Circle loan 13,399 12,201
19,730 46,623

Amounts falling due between one and two years:
Bank loans payable in one to two years 5,569 5,501
Other loans 18,613 32,012
24,182 37,513

Amounts falling due between two and five years:
Bank loans payable in two to five years 16,707 16,503

Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable in more than five
years

3,713

9,627

RICHARDS RESIDENTIAL SUPPLIES LIMITED (REGISTERED NUMBER: 02583102)

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

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 762 28,921

The bank overdraft is secured by a joint and several guarantee by the directors limited to £30,000 and a mortgage debenture dated 1 April 1993.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

13. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 October 2023 (14,129 ) 14,788 659
Profit for the year 2,692 2,692
At 30 September 2024 (11,437 ) 14,788 3,351