Company registration number 08774577 (England and Wales)
Royds Industrial Properties Ltd
Financial Statements
for the year ended 31 March 2023
PAGES FOR FILING WITH REGISTRAR
Royds Industrial Properties Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Royds Industrial Properties Ltd
Statement of financial position
as at 31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
3
1,660,000
1,660,000
Current assets
Debtors
4
37,055
23,096
Cash at bank and in hand
46,504
31,958
83,559
55,054
Creditors: amounts falling due within one year
5
(66,016)
(52,048)
Net current assets
17,543
3,006
Total assets less current liabilities
1,677,543
1,663,006
Creditors: amounts falling due after more than one year
6
(680,000)
(759,600)
Provisions for liabilities
7
(128,050)
(97,318)
Net assets
869,493
806,088
Capital and reserves
Called up share capital
100
100
Revaluation reserve
384,150
414,882
Profit and loss reserves
485,243
391,106
Total equity
869,493
806,088

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 October 2023 and are signed on its behalf by:
M J Royds
Director
Company Registration No. 08774577
Royds Industrial Properties Ltd
Notes to the Financial Statements
for the year ended 31 March 2023
- 2 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

Turnover represents the total invoice value of rent receivable and other income derived from the provision of services falling within the company's ordinary activities. Turnover is recognised on an accruals basis.

Investment properties

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the income statement.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
Royds Industrial Properties Ltd
Notes to the Financial Statements (continued)
for the year ended 31 March 2023
- 3 -
3
Investment property
2023
£
Fair value
At 1 April 2022 and 31 March 2023
1,660,000

On 31 March 2023 the historical cost of the property was £1,147,800 (2022: £1,147,800).

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
37,055
23,096
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
13,244
12,396
Corporation tax
22,081
16,857
Other taxation and social security
12,306
5,661
Other creditors
18,385
17,134
66,016
52,048
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other loan
680,000
759,600

The other loan is a loan from a company under control of the directors. There are no set repayment terms and the loan is subject to interest at 3%.

7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
128,050
97,318
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Royds Industrial Properties Ltd
Notes to the Financial Statements (continued)
for the year ended 31 March 2023
8
Audit report information
(continued)
- 4 -
Senior Statutory Auditor:
Charles R Moorby
Statutory Auditor:
B M Howarth Ltd
9
Financial commitments, guarantees and contingent liabilities

The company is party to a group cross guarantee security of the bank loans of Royds Properties Ltd and Royds Estates Ltd.

10
Company information

Royds Industrial Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Estate Office, Gledholt Business Park, Allen Row, Paddock, West Yorkshire, HD1 4SB.

2023-03-312022-04-01false06 October 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedM J RoydsB R Roydsfalse087745772022-04-012023-03-31087745772023-03-31087745772022-03-3108774577core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3108774577core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3108774577core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3108774577core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3108774577core:CurrentFinancialInstruments2023-03-3108774577core:CurrentFinancialInstruments2022-03-3108774577core:ShareCapital2023-03-3108774577core:ShareCapital2022-03-3108774577core:RevaluationReserve2023-03-3108774577core:RevaluationReserve2022-03-3108774577core:RetainedEarningsAccumulatedLosses2023-03-3108774577core:RetainedEarningsAccumulatedLosses2022-03-3108774577bus:Director12022-04-012023-03-31087745772021-04-012022-03-31087745772022-03-3108774577core:Non-currentFinancialInstruments12023-03-3108774577core:Non-currentFinancialInstruments12022-03-3108774577bus:PrivateLimitedCompanyLtd2022-04-012023-03-3108774577bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3108774577bus:FRS1022022-04-012023-03-3108774577bus:Audited2022-04-012023-03-3108774577bus:Director22022-04-012023-03-3108774577bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP