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Registration number: 07521655

Richards Urban Design Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Richards Urban Design Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 10

 

Richards Urban Design Limited

Company Information

Directors

Mr C A Richards

Mrs J A Richards

Registered office

59 The Avenue
Southampton
Hampshire
SO17 1XS

Accountants

Numeric Accounting
Chartered Certified AccountantsSuite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Richards Urban Design Limited

(Registration number: 07521655)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

3,957

1,742

Investment property

5

180,000

180,000

 

183,957

181,742

Current assets

 

Stocks

6

20,000

15,000

Debtors

7

198,923

177,535

Cash at bank and in hand

 

155,494

98,323

 

374,417

290,858

Creditors: Amounts falling due within one year

8

(78,546)

(49,164)

Net current assets

 

295,871

241,694

Total assets less current liabilities

 

479,828

423,436

Provisions for liabilities

(10,790)

(10,611)

Net assets

 

469,038

412,825

Capital and reserves

 

Called up share capital

9

2

2

Other reserves

30,666

30,666

Retained earnings

438,370

382,157

Shareholders' funds

 

469,038

412,825

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 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Richards Urban Design Limited

(Registration number: 07521655)
Balance Sheet as at 28 February 2025 (continued)

Approved and authorised by the Board on 25 July 2025 and signed on its behalf by:
 

.........................................
Mr C A Richards
Director

 

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

2

30,666

382,157

412,825

Profit for the year

-

-

139,991

139,991

Dividends

-

-

(83,778)

(83,778)

At 28 February 2025

2

30,666

438,370

469,038

Share capital
£

Other reserves
£

Retained earnings
£

Total
£

At 1 March 2023

2

-

399,238

399,240

Profit for the year

-

-

97,629

97,629

Dividends

-

-

(84,044)

(84,044)

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
59 The Avenue
Southampton
Hampshire
SO17 1XS

These financial statements were authorised for issue by the Board on 25 July 2025.

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.

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

Investment properties are recorded at fair value as assessed by the directors or an external valuer at the balance sheet date. These are not depreciated. Changes in fair value are recognised in the profit and Loss account

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
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
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.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

 

Richards Urban Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

4

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Total
£

Cost or valuation

At 1 March 2024

1,824

8,421

10,245

Additions

-

3,833

3,833

At 28 February 2025

1,824

12,254

14,078

Depreciation

At 1 March 2024

1,655

6,848

8,503

Charge for the year

169

1,449

1,618

At 28 February 2025

1,824

8,297

10,121

Carrying amount

At 28 February 2025

-

3,957

3,957

At 29 February 2024

169

1,573

1,742

5

Investment properties

2025
£

At 1 March

180,000

At 28 February

180,000

The Investment Property has been revalued by the directors. It's initial historic cost was £139,112.

6

Stocks

2025
£

2024
£

Work in progress

20,000

15,000

 

Richards Urban Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025 (continued)

7

Debtors

Current

2025
£

2024
£

Trade debtors

83,351

44,811

Prepayments

6,694

458

Other debtors

108,878

132,266

 

198,923

177,535

8

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

-

7,698

Taxation and social security

78,280

41,200

Other creditors

266

266

78,546

49,164

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

10

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

5,401

-

Later than one year and not later than five years

9,451

-

14,852

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £1,350 (2024 - £Nil).

11

Dividends

2025

2024

£

£

Interim dividend of £41.89 (2024 - £42.02) per ordinary share

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)

12

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.

129,768

117,497

(140,327)

106,938