Company No: 10502261 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	25,297		36,200
Tangible assets	4	1,441,660		1,508,217
Investments	5	100		100
		1,467,057		1,544,517
Current assets
Stocks		341,883		315,395
Debtors	6	167,537		167,001
Cash at bank and in hand		103,266		132,541
		612,686		614,937
Creditors: amounts falling due within one year	7	( 277,050)		( 250,325)
Net current assets		335,636		364,612
Total assets less current liabilities		1,802,693		1,909,129
Creditors: amounts falling due after more than one year	8	( 703,887)		( 760,160)
Provision for liabilities		( 34,123)		( 50,389)
Net assets		1,064,683		1,098,580
Capital and reserves
Called-up share capital	9	1		1
Revaluation reserve		33,399		34,283
Profit and loss account		1,031,283		1,064,296
Total shareholder's funds		1,064,683		1,098,580

For the financial year ending 30 September 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Richards Builders Merchants Limited (registered number: 10502261) were approved and authorised for issue by the Director on 31 May 2026. They were signed on its behalf by:

Mr K Richards Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Richards Builders Merchants Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark LLP, Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is The Stores, Doublebois, Liskeard, Cornwall, PL14 6LD.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	10 years straight line
Website costs	25 % reducing balance

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as detailed below. Land is not depreciated.

Land and buildings	50 years straight line
Plant and machinery	25 % reducing balance
Fixtures and fittings	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	19		20

3. Intangible assets

	Goodwill		Website costs		Total
	£		£		£
Cost
At 01 October 2024	127,776		0		127,776
Additions	0		2,500		2,500
At 30 September 2025	127,776		2,500		130,276
Accumulated amortisation
At 01 October 2024	91,576		0		91,576
Charge for the financial year	12,778		625		13,403
At 30 September 2025	104,354		625		104,979
Net book value
At 30 September 2025	23,422		1,875		25,297
At 30 September 2024	36,200		0		36,200

4. Tangible assets

	Land and buildings		Plant and machinery		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 October 2024	1,346,622		394,560		77,190		1,818,372
Additions	0		11,319		1,003		12,322
At 30 September 2025	1,346,622		405,879		78,193		1,830,694
Accumulated depreciation
At 01 October 2024	46,791		229,105		34,259		310,155
Charge for the financial year	23,713		44,184		10,982		78,879
At 30 September 2025	70,504		273,289		45,241		389,034
Net book value
At 30 September 2025	1,276,118		132,590		32,952		1,441,660
At 30 September 2024	1,299,831		165,455		42,931		1,508,217

5. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 October 2024	100		100
At 30 September 2025	100		100
Carrying value at 30 September 2025	100		100
Carrying value at 30 September 2024	100		100

6. Debtors

	2025		2024
	£		£
Trade debtors	163,297		138,339
Prepayments	4,240		10,222
Corporation tax	0		18,440
	167,537		167,001

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	39,300		43,200
Trade creditors	159,305		108,235
Amounts owed to director	5,000		3,575
Taxation and social security	59,247		48,298
Obligations under finance leases and hire purchase contracts (secured)	9,111		18,029
Other creditors	5,087		28,988
	277,050		250,325

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	484,317		524,496
Obligations under finance leases and hire purchase contracts (secured)	26,553		35,664
Other creditors	193,017		200,000
	703,887		760,160

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans (secured / repayable by instalments)	327,117		351,696

Bank loans are secured by way of fixed and floating charges inclusive of a negative pledge, held over property and undertaking of the company.

Hire purchase liabilities are secured against the assets to which they relate.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1