REGISTERED NUMBER: 02260638 (England and Wales)

N.J.RICHARDS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

R Neocleous

REGISTERED OFFICE:

20 Wenlock Road

London

N1 7GU

REGISTERED NUMBER:

02260638 (England and Wales)

ACCOUNTANTS:

Beavis Morgan LLP

3rd Floor

Marlborough House

298 Regents Park Road

Finchley

London

N3 2SZ

FIXED ASSETS

Tangible assets

4

372

682

Investments

5

5,000

5,000

Investment property

6

1

3,000,000

5,373

3,005,682

CURRENT ASSETS

Debtors

7

1,941,808

911,905

Cash at bank

23,372

5,108

1,965,180

917,013

CREDITORS

Amounts falling due within one year

8

28,293

627,163

NET CURRENT ASSETS

1,936,887

289,850

TOTAL ASSETS LESS CURRENT LIABILITIES

1,942,260

3,295,532

CREDITORS

Amounts falling due after more than one year

9

-

(1,083,928

)

PROVISIONS FOR LIABILITIES

-

(256,517

)

NET ASSETS

1,942,260

1,955,087

CAPITAL AND RESERVES

Called up share capital

10

5,000

5,000

Retained earnings

1,937,260

1,950,087

SHAREHOLDERS' FUNDS

1,942,260

1,955,087

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 July 2026 and were signed by:

R Neocleous - Director

1.	STATUTORY INFORMATION

N.J.Richards 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Turnover

Turnover represents the total invoice value, excluding Value Added Tax, of sales made during the year and is recognised at the time of supply of service and includes provisions for amounts not yet invoiced for work completed at the year end. This provision is included under accrued income.

Tangible fixed 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.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting period and any changes in fair value are recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the assets and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2024

and 30 June 2025

17,904

DEPRECIATION

At 1 July 2024

17,222

Charge for year

310

At 30 June 2025

17,532

NET BOOK VALUE

At 30 June 2025

372

At 30 June 2024

682

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 July 2024

and 30 June 2025

5,000

NET BOOK VALUE

At 30 June 2025

5,000

At 30 June 2024

5,000

N.J. Richards Project Limited is a 100% subsidiary of the company and its registered office is at 20 Wenlock Road, London N1 7GU.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2024

3,000,000

Disposals

(2,999,999

)

At 30 June 2025

1

NET BOOK VALUE

At 30 June 2025

1

At 30 June 2024

3,000,000

During the year the Company granted 999 year long leases out of its freehold investment property to its 100% owned subsidiary K George House Management Limited for a total premium of £2,825,000 with a peppercorn ground rent. The reversionary value of the freehold has been left at a notional £1.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

415,670

Amounts owed by group undertakings

1,514,533

20,064

Other debtors

427,275

476,171

1,941,808

911,905

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

108,504

Trade creditors

5,830

6,130

Taxation and social security

800

28,207

Other creditors

21,663

484,322

28,293

627,163

The bank loans were fully repaid during the year.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

1,083,928

The bank loans were fully repaid during the year.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

5,000

Ordinary shares

1

5,000

5,000

11.	CONTINGENT LIABILITIES

At the year end there was an ongoing insurance claim the company was pursuing with regards to negligent professional advice given to them for one of their developments. This claim was settled subsequent to the year end.

12.	RELATED PARTY DISCLOSURES

Included in debtors are amounts of £347,748 (2024: £347,748) due from a company in which the director has an interest.