Richard Nagy Limited - Filleted accounts

Registered number

04031875

Richard Nagy Limited

Filleted Accounts

31 March 2025

Richard Nagy Limited
Registered number:		04031875
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		38,412			46,323
Investments	4		10			10
			38,422			46,333

Current assets
Stocks		2,077,202			2,284,658
Debtors	5	123,909			180,864
Cash at bank and in hand		28,356			215,805
		2,229,466			2,681,327

Creditors: amounts falling due within one year	6	(547,346)			(697,102)

Net current assets			1,682,120			1,984,226

Total assets less current liabilities			1,720,542			2,030,559


Provisions for liabilities			(9,603)			(11,580)

Net assets			1,710,939			2,018,979

Capital and reserves
Called up share capital			1,010			1,010
Share premium			1,990			1,990
Profit and loss account			1,707,939			2,015,979

Shareholders' funds			1,710,939			2,018,979

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Richard Nagy
Director
Approved by the board on 11 December 2025

Richard Nagy Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Leasehold land and buildings			over the lease term
	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	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.

	Creditors
	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					3		3


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	12,472		494,105		7,000		513,577
	At 31 March 2025	12,472		494,105		7,000		513,577

	Depreciation
	At 1 April 2024	12,472		453,032		1,750		467,254
	Charge for the year	-		6,161		1,750		7,911
	At 31 March 2025	12,472		459,193		3,500		475,165

	Net book value
	At 31 March 2025	-		34,912		3,500		38,412
	At 31 March 2024	-		41,073		5,250		46,323


4	Investments
Investments in
subsidiary
undertakings
£
	Cost
	At 1 April 2024							10

	At 31 March 2025							10
	The above represents 100% of the share capital in Richard Nagy Asia Limited, a company registered in Kong Hong.


5	Debtors					2025		2024
£							£

	Trade debtors					-		2,237
	Taxation and social security					17,656		14,865
	Prepayments					66,253		83,762
	Other debtors					40,000		80,000
						123,909		180,864


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					8,468		509,653
	Accruals					9,366		8,034
	Taxation and social security costs					5,938		9,174
	Other creditors					523,574		170,241
						547,346		697,102


7	Creditors: amounts falling due after one year					2025		2024
£							£
	There are no amounts due after more than one year.

8	Deferred Tax					2025		2024
£							£
	Accelerated capital allowances
	Brought forward					11,580		12,287
	Credit to profit and loss					(1,977)		(707)
	Change in tax rates					-		-
	Carried forward					9,603		11,580



9	Other financial commitments					2025		2024
£							£

	Total future minimum payments under non-cancellable operating leases					122,574		210,574


10	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Richard Nagy
	[Loan 1]	(129,381)		138,194		(504,101)		(495,288)

		(129,381)		138,194		(504,101)		(495,288)


11	Other information

	Richard Nagy Limited is a private company limited by shares and incorporated in England. Its registered office is:
	22 Old Bond Street
	London
	W1S 4PY