PTP Accounts Production v25.1.3.33 10656949 director 1.4.24 31.3.25 31.3.25 false true false false true false Ordinary shares classes A - H 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 10656949 2024-03-31 10656949 2025-03-31 10656949 2024-04-01 2025-03-31 10656949 2023-03-31 10656949 2023-04-01 2024-03-31 10656949 2024-03-31 10656949 ns15:EnglandWales 2024-04-01 2025-03-31 10656949 ns14:PoundSterling 2024-04-01 2025-03-31 10656949 ns10:Director1 2024-04-01 2025-03-31 10656949 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10656949 ns10:SmallEntities 2024-04-01 2025-03-31 10656949 ns10:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 10656949 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 10656949 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 10656949 ns10:FullAccounts 2024-04-01 2025-03-31 10656949 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 10656949 ns10:CompanySecretary1 2024-04-01 2025-03-31 10656949 ns10:RegisteredOffice 2024-04-01 2025-03-31 10656949 ns5:CurrentFinancialInstruments 2025-03-31 10656949 ns5:CurrentFinancialInstruments 2024-03-31 10656949 ns5:Non-currentFinancialInstruments 2025-03-31 10656949 ns5:Non-currentFinancialInstruments 2024-03-31 10656949 ns5:ShareCapital 2025-03-31 10656949 ns5:ShareCapital 2024-03-31 10656949 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 10656949 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 10656949 ns5:PlantMachinery 2024-04-01 2025-03-31 10656949 ns5:FurnitureFittings 2024-04-01 2025-03-31 10656949 ns5:MotorVehicles 2024-04-01 2025-03-31 10656949 ns5:ComputerEquipment 2024-04-01 2025-03-31 10656949 ns5:PlantMachinery 2024-03-31 10656949 ns5:FurnitureFittings 2024-03-31 10656949 ns5:MotorVehicles 2024-03-31 10656949 ns5:ComputerEquipment 2024-03-31 10656949 ns5:PlantMachinery 2025-03-31 10656949 ns5:FurnitureFittings 2025-03-31 10656949 ns5:MotorVehicles 2025-03-31 10656949 ns5:ComputerEquipment 2025-03-31 10656949 ns5:PlantMachinery 2024-03-31 10656949 ns5:FurnitureFittings 2024-03-31 10656949 ns5:MotorVehicles 2024-03-31 10656949 ns5:ComputerEquipment 2024-03-31 10656949 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 10656949 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 10656949 ns5:BetweenOneTwoYears ns5:Non-currentFinancialInstruments 2025-03-31 10656949 ns5:BetweenOneTwoYears ns5:Non-currentFinancialInstruments 2024-03-31 10656949 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2025-03-31 10656949 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2024-03-31 10656949 ns5:Non-currentFinancialInstruments ns5:MoreThanFiveYears 2025-03-31 10656949 ns5:Non-currentFinancialInstruments ns5:MoreThanFiveYears 2024-03-31 10656949 ns5:Non-currentFinancialInstruments ns5:BetweenThreeFourYears 2025-03-31 10656949 ns5:Non-currentFinancialInstruments ns5:BetweenThreeFourYears 2024-03-31 10656949 ns5:DeferredTaxation 2024-03-31 10656949 ns5:DeferredTaxation 2024-04-01 2025-03-31 10656949 ns5:DeferredTaxation 2025-03-31 10656949 ns10:OrdinaryShareClass1 2025-03-31 10656949 ns10:Director2 2024-04-01 2025-03-31 10656949 ns10:Director2 2 2024-03-31 10656949 ns10:Director2 2 2023-03-31 10656949 ns10:Director2 2 2024-04-01 2025-03-31 10656949 ns10:Director2 2 2023-04-01 2024-03-31 10656949 ns10:Director2 2 2025-03-31 10656949 ns10:Director2 2 2024-03-31 10656949 1 ns10:Director1 2024-03-31 10656949 1 ns10:Director1 2023-03-31 10656949 1 ns10:Director1 2024-04-01 2025-03-31 10656949 1 ns10:Director1 2023-04-01 2024-03-31 10656949 1 ns10:Director1 2025-03-31 10656949 1 ns10:Director1 2024-03-31

REGISTERED NUMBER: 10656949 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

RICHFIELD FLOORING LIMITED

RICHFIELD FLOORING LIMITED (REGISTERED NUMBER: 10656949)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 4 |

RICHFIELD FLOORING LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTOR: | Mr Chad V Bamsey

| SECRETARY: | Mrs Pauline D Bamsey

| REGISTERED OFFICE: | 3 Jesse Terrace

| Reading

| Berkshire

| RG1 7RS

| REGISTERED NUMBER: | 10656949 (England and Wales)

| ACCOUNTANTS: | Malcolm J. Greer FCCA, ATT

| Chartered Certified Accountant

| 3 Jesse Terrace

| Reading

| Berkshire

| RG1 7RS

RICHFIELD FLOORING LIMITED (REGISTERED NUMBER: 10656949)

STATEMENT OF FINANCIAL POSITION

31 MARCH 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 24,456 |  | 28,479 |  |

CURRENT ASSETS

Stocks | 15,000 |  | 15,000 |  |

Debtors | 5 | 261,497 |  | 133,079 |  |

Cash in hand | 797 |  | 736 |  |

277,294 |  | 148,815 |  |

CREDITORS

Amounts falling due within one year | 6 | 347,799 |  | 217,721 |  |

NET CURRENT LIABILITIES | (70,505 | ) | (68,906 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (46,049 | ) | (40,427 | ) |

CREDITORS

Amounts falling due after more than one year | 7 | 89,720 |  | 30,567 |  |

NET LIABILITIES | (135,769 | ) | (70,994 | ) |

CAPITAL AND RESERVES

Called up share capital | 10 | 720 |  | 720 |  |

Retained earnings | (136,489 | ) | (71,714 | ) |

SHAREHOLDERS' FUNDS | (135,769 | ) | (70,994 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

RICHFIELD FLOORING LIMITED (REGISTERED NUMBER: 10656949)

STATEMENT OF FINANCIAL POSITION - continued

31 MARCH 2025

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

Mr Chad V Bamsey - Director

RICHFIELD FLOORING LIMITED (REGISTERED NUMBER: 10656949)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| Richfield Flooring 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery | - | 33% on cost

| Fixtures and fittings | - | 25% on cost

| Motor vehicles | - | 25% on cost

| Computer equipment | - | 33% on cost

| Stocks

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

RICHFIELD FLOORING LIMITED (REGISTERED NUMBER: 10656949)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial assets

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

RICHFIELD FLOORING LIMITED (REGISTERED NUMBER: 10656949)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Going concern

| The Director confirms that due to the continued financial support provided by the company's shareholder director, bankers and third party lenders, he is satisfied that Richfield Flooring Limited has adequate resources to continue in business for the foreseeable future. For this reason, he continues to adopt a going concern basis in preparing the financial statements.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 6 (2024 - 6 ) .

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Motor |  | Computer |

| machinery |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 April 2024 | 14,211 |  | 52,288 |  | 16,500 |  | 9,641 |  | 92,640 |  |

| Additions | 1,045 |  | 2,513 |  | 6,200 |  | 975 |  | 10,733 |  |

| At 31 March 2025 | 15,256 |  | 54,801 |  | 22,700 |  | 10,616 |  | 103,373 |  |

| DEPRECIATION

| At 1 April 2024 | 9,384 |  | 41,399 |  | 5,306 |  | 8,072 |  | 64,161 |  |

| Charge for year | 2,949 |  | 6,987 |  | 3,745 |  | 1,075 |  | 14,756 |  |

| At 31 March 2025 | 12,333 |  | 48,386 |  | 9,051 |  | 9,147 |  | 78,917 |  |

| NET BOOK VALUE

| At 31 March 2025 | 2,923 |  | 6,415 |  | 13,649 |  | 1,469 |  | 24,456 |  |

| At 31 March 2024 | 4,827 |  | 10,889 |  | 11,194 |  | 1,569 |  | 28,479 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Other debtors | 114 |  | 894 |  |

| Net wages debtor | 1,967 |  | 1,967 |  |

| Employee loan | 22,523 |  | 4,500 |  |

| Third party loan | 2,000 |  | - |  |

| Directors' current accounts | 170,458 |  | 78,183 |  |

| Corporation tax | 15,587 |  | 15,587 |  |

| VAT | 1,243 |  | - |  |

| Deferred tax asset | 42,961 |  | 31,748 |  |

| Called up share capital not paid | 200 |  | 200 |  |

| Prepayments and accrued income | 4,444 |  | - |  |

261,497 |  | 133,079 |  |

RICHFIELD FLOORING LIMITED (REGISTERED NUMBER: 10656949)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans and overdrafts | 56,337 |  | 59,981 |  |

| Other loans | 83,504 |  | 60,717 |  |

| Private loans | 85,999 |  | - |  |

| Trade creditors | 93,566 |  | 38,469 |  |

| Corporation tax | 11,579 |  | 15,587 |  |

| Social security and other taxes | 7,666 |  | 16,564 |  |

| VAT | - |  | 10,009 |  |

| Other creditors | 3,592 |  | 3,592 |  |

| Employee loan | - |  | 8,000 |  |

| Attachment of earnings | 376 |  | - |  |

| Accruals and deferred income | 5,180 |  | 4,802 |  |

347,799 |  | 217,721 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans - 1-2 years | 5,657 |  | 5,513 |  |

| Bank loans - 2-5 years | 17,841 |  | 17,404 |  |

| Bank loans more 5 yr by instal | 1,546 |  | 7,650 |  |

| Other loans - 1-2 years | 36,903 |  | - |  |

| Other loans - 2-5 years | 27,773 |  | - |  |

89,720 |  | 30,567 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 1,546 |  | 7,650 |  |

8. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.3.25 |  | 31.3.24

£ | £ |

| Reward Capital Limited | 52,310 |  | 60,717 |  |

| A legal charge was provided by the Company to Reward Capital Limited on the 20th December 2019 as security for a loan.

| The legal charge takes the form of a fixed and floating charge over all the assets, property and undertakings of the Company.

9. | DEFERRED TAX

£ |

| Balance at 1 April 2024 | (31,748 | ) |

| Provided during year | (11,213 | ) |

| Balance at 31 March 2025 | (42,961 | ) |

RICHFIELD FLOORING LIMITED (REGISTERED NUMBER: 10656949)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

10. | CALLED UP SHARE CAPITAL

| Allotted and issued:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: | £ | £ |

| 720 | Ordinary shares classes A - H | £1 | 720 |  | 720 |  |

| The total share capital of the Company has been sub divided into eight separate classes of ordinary share labelled A to H inclusive.

| The shares have the same rights and restrictions and rank pari passu in all respects save that as regards income, share classes A to H inclusive shall be entitled to payments of varying amounts of dividends at the discretion of the Directors as declared from time to time.

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

| 31.3.25 |  | 31.3.24

£ | £ |

| Mrs Pauline D Bamsey

| Balance outstanding at start of year | 12,245 |  | 11,874 |  |

| Amounts advanced | - |  | 371 |  |

| Amounts repaid | (12,245 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | 12,245 |  |

| Mr Chad V Bamsey

| Balance outstanding at start of year | 65,938 |  | (52 | ) |

| Amounts advanced | 172,520 |  | 65,990 |  |

| Amounts repaid | (68,000 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | 170,458 |  | 65,938 |  |

| By way of additional guarantees for the loan monies advanced to the Company by Reward Capital Limited, Mrs. Pauline D. Bamsey provided personal guarantee dated 20th December 2019 to the lender which is supported by a legal charge in favour of the lender over a freehold property known as 26 South Street, Reading, Berkshire.

| To provide further guarantees for the monies advanced to the Company by Reward Capital Limited, Mr. Chad V. Bamsey provided a personal guarantee and indemnity dated 20th December 2019 to the lender.

12. | ULTIMATE CONTROLLING PARTY

| The controlling party is Mr Chad V Bamsey.