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REGISTERED NUMBER: 12106875 (England and Wales)











RUMRAT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






RUMRAT LIMITED (REGISTERED NUMBER: 12106875)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


RUMRAT LIMITED (REGISTERED NUMBER: 12106875)

ABRIDGED BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 78,408 100,318
Investments 5 200 100
Investment property 6 6,250,000 6,250,000
6,328,608 6,350,418

CURRENT ASSETS
Debtors 94,946 360,416
Prepayments and accrued income 163,976 1,096
Cash at bank 27,474 469,821
286,396 831,333
CREDITORS
Amounts falling due within one year 46,902 113,037
NET CURRENT ASSETS 239,494 718,296
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,568,102

7,068,714

CREDITORS
Amounts falling due after more than one year (5,750,000 ) (6,250,000 )

PROVISIONS FOR LIABILITIES (54,719 ) (60,197 )

ACCRUALS AND DEFERRED INCOME (231,759 ) (193,237 )
NET ASSETS 531,624 565,280

RUMRAT LIMITED (REGISTERED NUMBER: 12106875)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 7 100 100
Fair value reserve 8 105,349 105,349
Retained earnings 426,175 459,831
SHAREHOLDERS' FUNDS 531,624 565,280

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 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 and authorised for issue by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:





J P Ratcliffe - Director


RUMRAT LIMITED (REGISTERED NUMBER: 12106875)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Rumrat Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12106875

Registered office: 3 Weekley Wood Close
Kettering
Northamptonshire
NN14 1UQ

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.

Preparation of consolidated financial statements
The financial statements contain information about Rumrat Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents amounts (excluding value added tax) derived from the rent of commercial properties and the provision of services in relation to these during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

RUMRAT LIMITED (REGISTERED NUMBER: 12106875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Debtors and creditors
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

Any losses arising from impairment are recognised in the profit and loss account.

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 2 (2022 - 2 ) .

RUMRAT LIMITED (REGISTERED NUMBER: 12106875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 164,122
Additions 4,008
At 31 March 2023 168,130
DEPRECIATION
At 1 April 2022 63,804
Charge for year 25,918
At 31 March 2023 89,722
NET BOOK VALUE
At 31 March 2023 78,408
At 31 March 2022 100,318

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2022 100
Additions 100
At 31 March 2023 200
NET BOOK VALUE
At 31 March 2023 200
At 31 March 2022 100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Rumrat Renovate Limited
Registered office: 3 Weekley Wood Close, Kettering, Northamptonshire, NN14 1UQ
Nature of business: Property Development
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 100 100

RUMRAT LIMITED (REGISTERED NUMBER: 12106875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. FIXED ASSET INVESTMENTS - continued

Rumrat Aviate Ltd
Registered office: 3 Weekley Wood Close, Kettering, Northamptonshire, NN14 1UQ
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023
£   
Aggregate capital and reserves 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 6,250,000
NET BOOK VALUE
At 31 March 2023 6,250,000
At 31 March 2022 6,250,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 140,466
Cost 6,109,534
6,250,000

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

2023 2022
£    £   
Cost 6,070,395 6,070,395

Investment properties were valued on an open market basis on 31 March 2021 by Innes England .

The director believes this valuation is still appropriate.

RUMRAT LIMITED (REGISTERED NUMBER: 12106875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value £ £
95 Ordinary £1 95 95
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
1 Ordinary E £1 1 1
100 100

8. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 105,349

9. RELATED PARTY DISCLOSURES

The director's formally loaned the company £6,250,000 to fund the purchase of the Investment properties in 2021.

At 31 March 2023 balances of £5,750,000 were still due to the directors of the Company. Interest was not charged on this balance as agreed by the directors (2022 - 0.5%) so in the period this amounted to £nil. (2022 - £31,250)

There are no fixed repayment terms in place for this loan with the proposed settlement due on the eventual sale of the investment properties.