Rico & Rico Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11634502 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

RICO & RICO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D P Richards

Mrs N J Richards

REGISTERED OFFICE:

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

REGISTERED NUMBER:

11634502 (England and Wales)

ACCOUNTANTS:

Gibson Whitter

Chartered Accountants

and Chartered Tax Advisers

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

FIXED ASSETS

Tangible assets

4

3,474

-

Investments

5

785,193

201,010

788,667

201,010

CURRENT ASSETS

Debtors

6

2,501

2,500

Cash at bank

1,079,521

188,826

1,082,022

191,326

CREDITORS

Amounts falling due within one year

7

214,948

53,742

NET CURRENT ASSETS

867,074

137,584

TOTAL ASSETS LESS CURRENT LIABILITIES

1,655,741

338,594

PROVISIONS FOR LIABILITIES

8

695

-

NET ASSETS

1,655,046

338,594

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

1,655,044

338,592

SHAREHOLDERS' FUNDS

1,655,046

338,594

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 27 February 2024 and were signed on its behalf by:

Mr D P Richards - Director

1.	STATUTORY INFORMATION

Rico & Rico 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 etc

-

20% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

3,790

At 31 October 2022

3,790

DEPRECIATION

Charge for year

316

At 31 October 2022

316

NET BOOK VALUE

At 31 October 2022

3,474

5.	FIXED ASSET INVESTMENTS

Listed

Unlisted

investments

investments

Totals

£

£

£

COST OR VALUATION

At 1 November 2021

-

201,010

201,010

Additions

1,535,172

49,785

1,584,957

Disposals

(582,816

)

(49,785

)

(632,601

)

Revaluations

(368,173

)

-

(368,173

)

At 31 October 2022

584,183

201,010

785,193

NET BOOK VALUE

At 31 October 2022

584,183

201,010

785,193

At 31 October 2021

-

201,010

201,010

Cost or valuation at 31 October 2022 is represented by:

Listed

Unlisted

investments

investments

Totals

£

£

£

Valuation in 2022

(368,173

)

-

(368,173

)

Cost

952,356

201,010

1,153,366

584,183

201,010

785,193

If fixed asset investments had not been revalued they would have been included at the following historical cost:

31.10.22

31.10.21

£

£

Cost

1,153,366

201,010

Fixed asset investments were valued on an open market basis on 31 October 2022 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Trade debtors

2,500

2,500

Other debtors

1

-

2,501

2,500

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Taxation and social security

211,592

52,538

Other creditors

3,356

1,204

214,948

53,742

8.	PROVISIONS FOR LIABILITIES

31.10.22

31.10.21

£

£

Deferred tax

695

-

Deferred

tax

£

Charge to Income Statement during year

695

Balance at 31 October 2022

695

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.22

31.10.21

value:

£

£

1

A Ordinary

£1

1

1

1

B Ordinary

£1

1

1

2

2

10.	ULTIMATE CONTROLLING PARTY

The company is not under the control of any one individual or another entity.