1 March 2022 v2023.24.1 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBPNI0554922022-03-012023-03-31NI0554922023-03-31NI0554922022-02-28NI055492core:WithinOneYear2023-03-31NI055492core:WithinOneYear2022-02-28NI055492core:AfterOneYear2023-03-31NI055492core:AfterOneYear2022-02-28NI055492core:ShareCapital2023-03-31NI055492core:ShareCapital2022-02-28NI055492core:RetainedEarningsAccumulatedLosses2023-03-31NI055492core:RetainedEarningsAccumulatedLosses2022-02-28NI055492bus:Director12022-03-012023-03-31NI055492bus:RegisteredOffice2022-03-012023-03-31NI0554922021-03-012022-02-28NI055492core:LandBuildings2023-03-31NI055492core:LandBuildings2022-02-28NI05549212022-03-012023-03-31NI055492countries:NorthernIreland2022-03-012023-03-31NI055492bus:AuditExemptWithAccountantsReport2022-03-012023-03-31NI055492bus:PrivateLimitedCompanyLtd2022-03-012023-03-31NI055492bus:SmallEntities2022-03-012023-03-31NI055492bus:FullAccounts2022-03-012023-03-31
Company registration number:
NI055492
Roderick Joyce Developments Limited
Unaudited Filleted Financial Statements for the period ended
31 March 2023
Roderick Joyce Developments Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Roderick Joyce Developments Limited
Period ended
31 March 2023
As described on the statement of financial position, the Board of Directors of
Roderick Joyce Developments Limited
are responsible for the preparation of the
financial statements
for the period ended
31 March 2023
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited
financial statements
in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
MG accountants (Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
United Kingdom
Date:
23 October 2023
Roderick Joyce Developments Limited
Statement of Financial Position
31 March 2023
31 Mar 202328 Feb 2022
Note££
Fixed assets    
Tangible assets 5
206,868
 
206,868
 
Current assets    
Debtors 6
44,307
 
14,875
 
Cash at bank and in hand
55,201
 
50,849
 
99,508
 
65,724
 
Creditors: amounts falling due within one year 7
(33,568
)
(40,116
)
Net current assets
65,940
 
25,608
 
Total assets less current liabilities 272,808   232,476  
Creditors: amounts falling due after more than one year 8
(92,711
)
(118,462
)
Net assets
180,097
 
114,014
 
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
180,095
 
114,012
 
Shareholders funds
180,097
 
114,014
 
For the period ending
31 March 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
23 October 2023
, and are signed on behalf of the board by:
Mr Roderick Joyce
Director
Company registration number:
NI055492
Roderick Joyce Developments Limited
Notes to the Financial Statements
Period ended
31 March 2023

1 General information

The company is a private company limited by shares and is registered in Northern Ireland. The address of the registered office is
17 Roslyn Avenue
,
Portadown
,
Co. Armagh
,
BT63 5BG
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.
Revenue from services is recognised when the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Rent

Rental income represents income receivable from the letting of the investment properties to residential tenants. Rental income is recognised upon receipt of the payment.

Tangible assets

Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Profit and Loss Account.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the period was
1
(2022:
1
).

5 Tangible assets

Land and buildings
£
Cost  
At
1 March 2022
and
31 March 2023
206,868
 
Depreciation  
At
1 March 2022
and
31 March 2023
-  
Carrying amount  
At
31 March 2023
206,868
 
At 28 February 2022
206,868
 

6 Debtors

31 Mar 202328 Feb 2022
££
Other debtors
44,307
 
14,875
 

7 Creditors: amounts falling due within one year

31 Mar 202328 Feb 2022
££
Bank loans and overdrafts
5,161
 
5,161
 
Trade creditors
425
 
1,228
 
Taxation and social security
24,762
 
31,452
 
Other creditors
3,220
 
2,275
 
33,568
 
40,116
 

8 Creditors: amounts falling due after more than one year

31 Mar 202328 Feb 2022
££
Bank loans and overdrafts
27,911
 
32,979
 
Other creditors
64,800
 
85,483
 
92,711
 
118,462