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REGISTERED NUMBER: 06124792 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Rising Builders Limited

Rising Builders Limited (Registered number: 06124792)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Rising Builders Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr A B Rising
Mrs J Rising





REGISTERED OFFICE: Rowan House
7 West Bank
Scarborough
North Yorkshire
YO12 4DX





REGISTERED NUMBER: 06124792 (England and Wales)





ACCOUNTANTS: Asquith & Co Accountants Limited
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

Rising Builders Limited (Registered number: 06124792)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
CURRENT ASSETS
Debtors 6 2,075 3,592
Cash at bank 3 3
2,078 3,595
CREDITORS
Amounts falling due within one year 7 7,453 8,491
NET CURRENT LIABILITIES (5,375 ) (4,896 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,375

)

(4,896

)

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings (5,379 ) (4,900 )
SHAREHOLDERS' FUNDS (5,375 ) (4,896 )

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:





Mr A B Rising - Director


Rising Builders Limited (Registered number: 06124792)

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

1. STATUTORY INFORMATION

Rising Builders 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 33% 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 NIL (2022 - NIL).

Rising Builders Limited (Registered number: 06124792)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 9,628
AMORTISATION
At 1 April 2022
and 31 March 2023 9,628
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 2,520
DEPRECIATION
At 1 April 2022
and 31 March 2023 2,520
NET BOOK VALUE
At 31 March 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 2,075 3,592

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 4,231 5,431
Taxation and social security 3,090 2,928
Other creditors 132 132
7,453 8,491

Rising Builders Limited (Registered number: 06124792)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank overdrafts 4,231 5,431

NatWest Bank PLC holds fixed and floating charges over the undertaking and all property and assets, present and future, including goodwill, uncalled capital, buildings, fixtures and plant and machinery.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mr A B Rising and Mrs J Rising
Balance outstanding at start of year 3,592 5,074
Amounts repaid (1,517 ) (1,482 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,075 3,592

The above loan is unsecured, interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

Ongoing costs of maintaining the company will be covered by the directors of the company.