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REGISTERED NUMBER: 05671199 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

RUDDELL HOMES LIMITED

RUDDELL HOMES LIMITED (REGISTERED NUMBER: 05671199)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


RUDDELL HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: D L Ruddell





SECRETARY: Mrs L Ellis





REGISTERED OFFICE: 62 Steyne Road
Bembridge
Isle of Wight
PO35 5SL





REGISTERED NUMBER: 05671199 (England and Wales)





ACCOUNTANTS: Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

RUDDELL HOMES LIMITED (REGISTERED NUMBER: 05671199)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 290,000 300,000
290,000 300,000

CURRENT ASSETS
Stocks 427,404 369,571
Debtors 6 19,751 32,133
Cash at bank 853 322
448,008 402,026
CREDITORS
Amounts falling due within one year 7 480,125 449,308
NET CURRENT LIABILITIES (32,117 ) (47,282 )
TOTAL ASSETS LESS CURRENT LIABILITIES 257,883 252,718

CREDITORS
Amounts falling due after more than one year 8 208,003 209,114
NET ASSETS 49,880 43,604

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 49,879 43,603
SHAREHOLDERS' FUNDS 49,880 43,604

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

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

RUDDELL HOMES LIMITED (REGISTERED NUMBER: 05671199)

BALANCE SHEET - continued
31 JANUARY 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 24 October 2023 and were signed by:





D L Ruddell - Director


RUDDELL HOMES LIMITED (REGISTERED NUMBER: 05671199)

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


1. STATUTORY INFORMATION

Ruddell Homes 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.

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 - Straight line over 5 years

Investment property
Investment properties are included at their fair value and all gains are recognised in the income statement. Deferred taxation in provided on these gains at the rate expected to apply when the property is sold.

Stocks
Work in progress is valued at costs to date for land, construction costs and associated legal fees.

Costs include only direct costs.

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.

RUDDELL HOMES LIMITED (REGISTERED NUMBER: 05671199)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 February 2022
and 31 January 2023 20,960
DEPRECIATION
At 1 February 2022
and 31 January 2023 20,960
NET BOOK VALUE
At 31 January 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 300,000
Revaluations (10,000 )
At 31 January 2023 290,000
NET BOOK VALUE
At 31 January 2023 290,000
At 31 January 2022 300,000

RUDDELL HOMES LIMITED (REGISTERED NUMBER: 05671199)

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


5. INVESTMENT PROPERTY - continued

Fair value at 31 January 2023 is represented by:

£
Valuations up to 2022 92,916
Valuation in 2023 (10,000 )
Cost 207,084
290,000

Investment property was valued on a fair value basis on 31 January 2023 by the director.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 3,750
Other debtors 19,751 28,383
19,751 32,133

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,906 2,701
Payments in advance - 850
Taxation and social security 9,035 5,622
Other creditors 469,184 440,135
480,125 449,308

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 208,003 209,114

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 200,378 195,930

RUDDELL HOMES LIMITED (REGISTERED NUMBER: 05671199)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 209,909 211,815