Registration number:
Richards Urban Design Limited
for the Year Ended 28 February 2025
Richards Urban Design Limited
Contents
|
Company Information |
|
|
Balance Sheet |
|
|
Statement of Changes in Equity |
|
|
Notes to the Unaudited Financial Statements |
Richards Urban Design Limited
Company Information
|
Directors |
Mr C A Richards Mrs J A Richards |
|
Registered office |
|
|
Accountants |
|
Richards Urban Design Limited
(Registration number: 07521655)
Balance Sheet as at 28 February 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Investment property |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Other reserves |
|
|
|
|
Retained earnings |
|
|
|
|
Shareholders' funds |
|
|
For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Richards Urban Design Limited
(Registration number: 07521655)
Balance Sheet as at 28 February 2025 (continued)
Approved and authorised by the
|
......................................... |
Richards Urban Design Limited
Statement of Changes in Equity for the Year Ended 28 February 2025
|
Share capital |
Other reserves |
Retained earnings |
Total |
|
|
At 1 March 2024 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
At 28 February 2025 |
|
|
|
|
|
Share capital |
Other reserves |
Retained earnings |
Total |
|
|
At 1 March 2023 |
|
- |
|
|
|
Profit for the year |
- |
- |
|
|
|
Dividends |
- |
- |
( |
( |
|
Transfers |
- |
40,888 |
(30,666) |
10,222 |
|
Other movements on reserves |
- |
(10,222) |
- |
(10,222) |
|
At 29 February 2024 |
2 |
30,666 |
382,157 |
412,825 |
Richards Urban Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
|
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
|
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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred 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.
Richards Urban Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)
|
2 |
Accounting policies (continued) |
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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet 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 |
|
Fixtures and Fittings |
25% Straight Line |
|
Computer Equipment |
33% Straight Line |
Investment property
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Richards Urban Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)
|
2 |
Accounting policies (continued) |
Financial instruments
Classification
Recognition and measurement
At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Richards Urban Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)
|
Tangible assets |
|
Fixtures and fittings |
Computer equipment |
Total |
|
|
Cost or valuation |
|||
|
At 1 March 2024 |
|
|
|
|
Additions |
- |
|
|
|
At 28 February 2025 |
|
|
|
|
Depreciation |
|||
|
At 1 March 2024 |
|
|
|
|
Charge for the year |
|
|
|
|
At 28 February 2025 |
|
|
|
|
Carrying amount |
|||
|
At 28 February 2025 |
- |
|
|
|
At 29 February 2024 |
|
|
|
|
Investment properties |
|
2025 |
|
|
At 1 March |
|
|
At 28 February |
|
The Investment Property has been revalued by the directors. It's initial historic cost was £139,112.
|
Stocks |
|
2025 |
2024 |
|
|
Work in progress |
|
|
Richards Urban Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)
|
Debtors |
|
Current |
2025 |
2024 |
|
Trade debtors |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
|
2025 |
2024 |
|
|
Due within one year |
||
|
Trade creditors |
- |
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
2 |
|
2 |
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
Richards Urban Design Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)
|
10 |
Obligations under leases and hire purchase contracts (continued) |
|
2025 |
2024 |
|
|
Not later than one year |
|
- |
|
Later than one year and not later than five years |
|
- |
|
|
- |
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Dividends |
|
2025 |
2024 |
|||
|
£ |
£ |
|||
|
Interim dividend of £ |
83,778 |
84,044 |
||
During the year, total dividends of £83,778 (2024 - £84,044) were paid to members of which £75,400 (2024 - £75,400) were paid to the directors.
The balance of dividends were paid to:
- Mr S Richards (son of directors) - £4,189 (2024 - £4,202)
- Miss A Richards (daughter of directors) - £4,189 (2024 - £4,202)
|
Related party transactions |
During the year interest was charged of £1,940 (2024 - £2,496) which was also paid after the financial year end.
|
Transactions with directors |
|
2025 |
At 1 March 2024 |
Advances to director |
Repayments by director |
At 28 February 2025 |
|
Mr C A Richards |
||||
|
The loan is charged with interest at HMRC rates and repayable on demand. |
|
|
( |
|