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REGISTERED NUMBER: 05693419 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Richard Ames Developments Limited

Richard Ames Developments Limited (Registered number: 05693419)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Richard Ames Developments Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: R C Ames





SECRETARY: G J Balaam





REGISTERED OFFICE: 2 Fison Way
Thetford
Norfolk
IP24 1HT





REGISTERED NUMBER: 05693419 (England and Wales)





ACCOUNTANTS: Knights Lowe
Chartered Accountants
The Limes
32 Bridge Street
Thetford
Norfolk
IP24 3AG

Richard Ames Developments Limited (Registered number: 05693419)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 132 175
Investment property 5 750,000 1,661,134
750,132 1,661,309

CURRENT ASSETS
Debtors 6 1,297,973 1,324,120
Cash at bank 67,664 4,386
1,365,637 1,328,506
CREDITORS
Amounts falling due within one year 7 1,539,106 2,309,454
NET CURRENT LIABILITIES (173,469 ) (980,948 )
TOTAL ASSETS LESS CURRENT LIABILITIES 576,663 680,361

PROVISIONS FOR LIABILITIES 9 49,356 22,478
NET ASSETS 527,307 657,883

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 313,144 340,022
Retained earnings 214,063 317,761
SHAREHOLDERS' FUNDS 527,307 657,883

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 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.

Richard Ames Developments Limited (Registered number: 05693419)

Balance Sheet - continued
31 March 2023


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 by the director and authorised for issue on 29 September 2023 and were signed by:





R C Ames - Director


Richard Ames Developments Limited (Registered number: 05693419)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Richard Ames 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 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.

Richard Ames Developments Limited (Registered number: 05693419)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 3,497
DEPRECIATION
At 1 April 2022 3,322
Charge for year 43
At 31 March 2023 3,365
NET BOOK VALUE
At 31 March 2023 132
At 31 March 2022 175

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,661,134
Disposals (911,134 )
At 31 March 2023 750,000
NET BOOK VALUE
At 31 March 2023 750,000
At 31 March 2022 1,661,134

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 362,500
Cost 387,500
750,000

Richard Ames Developments Limited (Registered number: 05693419)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. INVESTMENT PROPERTY - continued

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 387,500 1,298,634

The investment property was valued on an open market basis on 31 March 2023 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,127 771
Other debtors 1,295,846 1,323,349
1,297,973 1,324,120

Other debtors includes £1,283,232 (2022: £1,284,113) due from a connected company.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 2,160
Trade creditors 688 8,193
Other creditors 1,538,418 2,299,101
1,539,106 2,309,454

Other creditors includes £6,138 (2022: £246,135) due to the director, and £1,524,892 (2022: £2,048,656) due to a connected company.

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 2,160

Security in the form of legal mortgage, fixed and floating charges over the assets of the company have been given in respect of the liabilities disclosed above.

The director has provided a personal guarantee to the company bankers and offered personal property as security for company borrowings.

Richard Ames Developments Limited (Registered number: 05693419)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Fair value movements 49,356 22,478

Deferred
tax
£   
Balance at 1 April 2022 22,478
Provided during year 26,878
Balance at 31 March 2023 49,356

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Fair
value
reserve
£   
At 1 April 2022 340,022
Fair value movements (26,878 )

At 31 March 2023 313,144