Company Registration No. SC690031 (Scotland)
TRUE RICHES LTD
Unaudited accounts
for the year ended 28 February 2025
TRUE RICHES LTD
Unaudited accounts
Contents
TRUE RICHES LTD
Company Information
for the year ended 28 February 2025
Director
Shodunke Oluremi Abimbola
Company Number
SC690031 (Scotland)
Registered Office
28 MILNCROFT ROAD
GLASGOW
G33 3RS
SCOTLAND
Accountants
Amatshod & Co Limited
Milncroft Road
GLASGOW
Lanarkshire
G33 3RS
TRUE RICHES LTD
Statement of financial position
as at 28 February 2025
Called up share capital not paid
1
1
Investment property
75,000
-
Cash at bank and in hand
3,651
5,376
Creditors: amounts falling due within one year
(14,698)
(4,779)
Net current (liabilities)/assets
(11,047)
597
Total assets less current liabilities
63,954
598
Creditors: amounts falling due after more than one year
(63,230)
-
Called up share capital
1
1
Profit and loss account
723
597
Shareholders' funds
724
598
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 November 2025 and were signed on its behalf by
Shodunke Oluremi Abimbola
Director
Company Registration No. SC690031
TRUE RICHES LTD
Notes to the Accounts
for the year ended 28 February 2025
TRUE RICHES LTD is a private company, limited by shares, registered in Scotland, registration number SC690031. The registered office is 28 MILNCROFT ROAD, GLASGOW, G33 3RS, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value-added tax, and other sales taxes. Turnover comprises rents receivable and services for decoration activities in the ordinary course of the company's activities.
Investment property is property held to earn rental and/or for capital appreciation,is initially recognised at cost, which includes purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
At 28 February 2025
75,000
TRUE RICHES LTD
Notes to the Accounts
for the year ended 28 February 2025
5
Creditors: amounts falling due within one year
2025
2024
Other creditors
14,698
4,779
6
Creditors: amounts falling due after more than one year
2025
2024
7
Average number of employees
During the year the average number of employees was 1 (2024: 1).