Richardson, Witt & Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01526664 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2020

FOR

RICHARDSON, WITT & COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

M Murata

M Ransom-Witt

REGISTERED OFFICE:

77 High Street

Old Town

Hastings

East Sussex

TN34 3EL

REGISTERED NUMBER:

01526664 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

FIXED ASSETS

Tangible assets

4

-

108

CURRENT ASSETS

Stocks

-

7,723

Debtors

5

10,924

-

Cash at bank and in hand

-

7,841

10,924

15,564

CREDITORS

Amounts falling due within one year

6

-

5,299

NET CURRENT ASSETS

10,924

10,265

TOTAL ASSETS LESS CURRENT LIABILITIES

10,924

10,373

PROVISIONS FOR LIABILITIES

7

-

21

NET ASSETS

10,924

10,352

CAPITAL AND RESERVES

Called up share capital

8

200

200

Retained earnings

10,724

10,152

SHAREHOLDERS' FUNDS

10,924

10,352

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 29 March 2020 and were signed on its behalf by:

M Ransom-Witt - Director

1.	STATUTORY INFORMATION

Richardson, Witt & Company 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.

The company ceased trading as at 31 January 2020 and as such the financial statements have been prepared on

the break-up basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover represents net rents received, excluding value added tax and is recognised at the point at which the

consideration is received.

Tangible fixed assets

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

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.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - 2 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 February 2019

-

160

160

Additions

438

239

677

Disposals

(438

)

(399

)

(837

)

At 31 January 2020

-

-

-

DEPRECIATION

At 1 February 2019

-

52

52

Eliminated on disposal

-

(52

)

(52

)

At 31 January 2020

-

-

-

NET BOOK VALUE

At 31 January 2020

-

-

-

At 31 January 2019

-

108

108

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Directors' current accounts

10,924

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Tax

-

1,192

Social security and other taxes

-

100

Directors' current accounts

-

2,487

Accrued expenses

-

1,520

-

5,299

7.	PROVISIONS FOR LIABILITIES

31.1.20

31.1.19

£

£

Deferred tax

Accelerated capital allowances

-

21

Deferred

tax

£

Balance at 1 February 2019

21

Credit to Income Statement during year

(21

)

Balance at 31 January 2020

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.20

31.1.19

value:

£

£

200

ordinary

1

200

200

9.	RELATED PARTY DISCLOSURES

As at the balance sheet date the director owed £10,924 to the company.

The loan is interest free and has no fixed date for repayment.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Richardson, Witt & Company Limited for the year ended 31 January 2020 which comprise the

Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Richardson, Witt & Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Richardson, Witt & Company Limited and state those matters that we have agreed to state to the Board of Directors of Richardson, Witt & Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Richardson, Witt & Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Richardson, Witt & Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Richardson, Witt & Company Limited. You consider that Richardson, Witt & Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Richardson, Witt & Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ashdown Hurrey

Chartered Accountants & Business Advisers

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

29 March 2020