P. Richardson Developments Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01309747 (England and Wales)

P. RICHARDSON DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Richardson

REGISTERED OFFICE:

Hilden Park House

79 Tonbridge Road

Hildenborough

Tonbridge

Kent

TN11 9BH

REGISTERED NUMBER:

01309747 (England and Wales)

ACCOUNTANTS:

Hilden Park Accountants Limited

Chartered Accountants

Hilden Park House

79 Tonbridge Road

Hildenborough

Tonbridge

Kent

TN11 9BH

FIXED ASSETS

Tangible assets

4

248

276

Investment property

5

350,000

250,000

350,248

250,276

CURRENT ASSETS

Debtors

-

2,406

Cash at bank

15,987

18,846

15,987

21,252

CREDITORS

Amounts falling due within one year

74,892

74,522

NET CURRENT LIABILITIES

(58,905

)

(53,270

)

TOTAL ASSETS LESS CURRENT LIABILITIES

291,343

197,006

PROVISIONS FOR LIABILITIES

43,870

-

NET ASSETS

247,473

197,006

CAPITAL AND RESERVES

Called up share capital

62

62

Revaluation reserve

6

-

74,520

Retained earnings

6

247,411

122,424

SHAREHOLDERS' FUNDS

247,473

197,006

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 15 January 2024 and were signed by:

P Richardson - Director

1.	STATUTORY INFORMATION

P. Richardson Developments 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2022

and 30 April 2023

11,030

DEPRECIATION

At 1 May 2022

10,754

Charge for year

28

At 30 April 2023

10,782

NET BOOK VALUE

At 30 April 2023

248

At 30 April 2022

276

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2022

250,000

Revaluations

100,000

At 30 April 2023

350,000

NET BOOK VALUE

At 30 April 2023

350,000

At 30 April 2022

250,000

Fair value at 30 April 2023 is represented by:

£

Valuation in 2014

74,520

Valuation in 2023

100,000

Cost

175,480

350,000

If investment properties had not been revalued they would have been included at the following historical cost:

30/4/23

30/4/22

£

£

Cost

175,480

464,512

Investment properties were valued on an open market basis on 30 April 2023 by the director .

6.

RESERVES

Retained earnings includes non-distributable reserves of £130,650, being the fair value adjustment for Investment property less associated deferred tax.