Rita Fancy Goods Limited 31/03/2025 iXBRL

Company registration number: 00961593

Rita Fancy Goods Limited

Filleted financial statements

31 March 2025

Rita Fancy Goods Limited

Contents

Directors and other information

Director's report

Statement of financial position

Notes to the financial statements

Rita Fancy Goods Limited

Directors and other information


	Director
		Mr Kamal Mirpuri


	Secretary	Kamal Mirpuri


	Company number	00961593


	Registered office	7 Jute Lane
		Enfield
		London
		EN3 7JL


	Business address	7 Jute Lane
		Enfield
		London
		EN3 7JL


	Auditor	Hamid & Co.
		16 Upper Woburn Place
		London
		WC1H 0BS




	Bankers	Barclays Bank Plc
		The City Business Banking Team
		1 Churchill Place
		London
		E14 5HP

Rita Fancy Goods Limited

Director's report

Year ended 31 March 2025

The director presents his report and the financial statements of the company for the year ended 31 March 2025.

Director

The director who served the company during the year was as follows:

Mr Kamal Mirpuri

Director's responsibilities statement

The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 24 September 2025 and signed on behalf of the board by:

Mr Kamal Mirpuri

Director

Rita Fancy Goods Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	4,848		5,159
Investments	6	570,000		570,000
		_______		_______
			574,848		575,159

Current assets
Stocks		328,986		345,017
Debtors	7	51,386		28,974
Cash at bank and in hand		316,513		266,563
		_______		_______
		696,885		640,554
Creditors: amounts falling due
within one year	8	( 197,404)		( 253,625)
		_______		_______
Net current assets			499,481		386,929
			_______		_______
Total assets less current liabilities			1,074,329		962,088


Provisions for liabilities			( 69,462)		( 69,540)

			_______		_______
Net assets			1,004,867		892,548
			_______		_______

Capital and reserves
Called up share capital			25,000		25,000
Profit and loss account	10		979,867		867,548
			_______		_______
Shareholders funds			1,004,867		892,548
			_______		_______

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

Mr Kamal Mirpuri

Director

Company registration number: 00961593

Rita Fancy Goods Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is 7 Jute Lane, Enfield, London, EN3 7JL.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	15 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investment property

In accordance with FRS 102 S16, investment properties are initially recognised at its purchased price and any directly attributable expenditure. Investment property is subsequently measured at fair value at each reporting date with changes in fair value 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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).

5. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 April 2024	52,981	52,981
Additions	545	545
	_______	_______
At 31 March 2025	53,526	53,526
	_______	_______
Depreciation
At 1 April 2024	47,822	47,822
Charge for the year	856	856
	_______	_______
At 31 March 2025	48,678	48,678
	_______	_______
Carrying amount
At 31 March 2025	4,848	4,848
	_______	_______
At 31 March 2024	5,159	5,159
	_______	_______

6. Investments

		Investment Property
		£
	Cost
	At 1 April 2024 and 31 March 2025	570,000
		_______
	Impairment
	At 1 April 2024 and 31 March 2025	-
		_______
	Carrying amount
	At 31 March 2025	570,000
		_______
	At 31 March 2024	570,000
		_______

Investment property was valued by external property consultants City & Urban in April 2025 at £570, 000 and the basis of valuation was the comparable market prices in the area in the current economic climate.

7. Debtors

	2025	2024
	£	£
Trade debtors	51,386	28,974
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	-	83,151
Corporation tax	71,032	34,566
Social security and other taxes	21,772	31,308
Other creditors	104,600	104,600
	_______	_______
	197,404	253,625
	_______	_______

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note )	69,462	69,540
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	1,212	1,290
Fair value adjustment of investment property	68,250	68,250
	_______	_______
	69,462	69,540
	_______	_______

10. Reserves

As a result of adoption of FRS 102, the revaluation reserve brought forward of £252,554 in respect of the investment property was transferred to profit and loss reserves as of 1 April 2014. The revaluation reserve at the at the end of the year was £272,554 (2024: £272,554).

11. Summary audit opinion

The auditor's report dated 24 September 2025 was unqualified.

The senior statutory auditor was Mr Hamid Pervez FCA, FCCA. for and on behalf of Hamid & Co.