Richaire Limited 30/09/2022 iXBRL

Richaire Limited 30/09/2022 iXBRL

RICHAIRE LIMITED - Company Information

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2 30/09/2022 2022-09-30 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-10-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 01071934 2021-10-01 2022-09-30 01071934 2022-09-30 01071934 2021-09-30 01071934 2020-10-01 2021-09-30 01071934 2021-09-30 01071934 core:LandBuildings core:OwnedOrFreeholdAssets 2021-10-01 2022-09-30 01071934 core:PlantMachinery 2021-10-01 2022-09-30 01071934 core:FurnitureFittingsToolsEquipment 2021-10-01 2022-09-30 01071934 core:OnerousContractsExcludingVacantProperties 2021-10-01 2022-09-30 01071934 bus:Director4 2021-10-01 2022-09-30 01071934 core:LandBuildings core:OwnedOrFreeholdAssets 2021-09-30 01071934 core:PlantMachinery 2021-09-30 01071934 core:FurnitureFittingsToolsEquipment 2021-09-30 01071934 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 01071934 core:PlantMachinery 2022-09-30 01071934 core:FurnitureFittingsToolsEquipment 2022-09-30 01071934 core:WithinOneYear 2022-09-30 01071934 core:WithinOneYear 2021-09-30 01071934 core:ShareCapital 2022-09-30 01071934 core:ShareCapital 2021-09-30 01071934 core:RevaluationReserve 2022-09-30 01071934 core:RevaluationReserve 2021-09-30 01071934 core:CapitalRedemptionReserve 2022-09-30 01071934 core:CapitalRedemptionReserve 2021-09-30 01071934 core:RetainedEarningsAccumulatedLosses 2022-09-30 01071934 core:RetainedEarningsAccumulatedLosses 2021-09-30 01071934 core:LandBuildings core:OwnedOrFreeholdAssets 2021-09-30 01071934 core:PlantMachinery 2021-09-30 01071934 core:FurnitureFittingsToolsEquipment 2021-09-30 01071934 bus:Director4 2021-09-30 01071934 bus:Director4 2022-09-30 01071934 bus:Director4 2020-09-30 01071934 bus:Director4 2021-09-30 01071934 bus:Director4 2020-10-01 2021-09-30 01071934 bus:SmallEntities 2021-10-01 2022-09-30 01071934 bus:AuditExempt-NoAccountantsReport 2021-10-01 2022-09-30 01071934 bus:FullAccounts 2021-10-01 2022-09-30 01071934 bus:SmallCompaniesRegimeForAccounts 2021-10-01 2022-09-30 01071934 bus:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 01071934 core:ComputerEquipment 2021-10-01 2022-09-30 01071934 core:ComputerEquipment 2022-09-30 01071934 core:ComputerEquipment 2021-09-30
Company registration number: 01071934
Richaire Limited
Unaudited filleted financial statements
30 September 2022
Richaire Limited
Contents
Statement of financial position
Notes to the financial statements
Richaire Limited
Statement of financial position
30 September 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 115,793 118,809
_______ _______
115,793 118,809
Current assets
Debtors 6 370,526 348,478
Cash at bank and in hand 697,069 727,166
_______ _______
1,067,595 1,075,644
Creditors: amounts falling due
within one year 7 ( 20,801) ( 8,026)
_______ _______
Net current assets 1,046,794 1,067,618
_______ _______
Total assets less current liabilities 1,162,587 1,186,427
Provisions for liabilities ( 66) ( 88)
_______ _______
Net assets 1,162,521 1,186,339
_______ _______
Capital and reserves
Called up share capital 80,000 80,000
Revaluation reserve 118,951 118,951
Capital redemption reserve 20,000 20,000
Profit and loss account 943,570 967,388
_______ _______
Shareholders funds 1,162,521 1,186,339
_______ _______
For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 June 2023 , and are signed on behalf of the board by:
Ms M Christou
Director
Company registration number: 01071934
Richaire Limited
Notes to the financial statements
Year ended 30 September 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brooklands House, 58 Marlborough Road, Lancing, West Sussex, BN15 8AF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 2 % straight line
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Computer Equipment - 33.33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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 asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Computer Total
£ £ £ £ £
Cost
At 1 October 2021 and 30 September 2022 145,000 10,453 408 17,555 173,416
_______ _______ _______ _______ _______
Depreciation
At 1 October 2021 26,652 10,013 388 17,554 54,607
Charge for the year 2,900 110 5 1 3,016
_______ _______ _______ _______ _______
At 30 September 2022 29,552 10,123 393 17,555 57,623
_______ _______ _______ _______ _______
Carrying amount
At 30 September 2022 115,448 330 15 - 115,793
_______ _______ _______ _______ _______
At 30 September 2021 118,348 440 20 1 118,809
_______ _______ _______ _______ _______
Tangible assets held at valuation
Freehold land and buildings were valued at an open market basis on 30th September 2013 by the directors.
6. Debtors
2022 2021
£ £
Trade debtors 6,609 16,817
Other debtors 363,917 331,661
_______ _______
370,526 348,478
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 57 -
Corporation tax 745 1,322
Social security and other taxes 171 341
Other creditors 19,828 6,363
_______ _______
20,801 8,026
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Ms M Christou ( 4,713) ( 1,416) ( 6,129)
_______ _______ _______
2021
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Ms M Christou ( 179) ( 4,534) ( 4,713)
_______ _______ _______
9. Related party transactions
Included in other debtors is £317,476 (2021 - £317,476) owed by 1.61 London Limited.1.61 London Limited is controlled by MN and AC Christou, who are both directors of Richaire Limited . The loans are interest free and repayable on demand.