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REGISTERED NUMBER: 01538272 (England and Wales)









Financial Statements

for the Year Ended 31 March 2023

for

Rateward Limited

Rateward Limited (Registered number: 01538272)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Rateward Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M Platt
L R Platt





SECRETARY: L R Platt





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 01538272 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Rateward Limited (Registered number: 01538272)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,159 1,363
Investment property 5 520,000 520,000
521,159 521,363

CURRENT ASSETS
Debtors 6 1,276 1,229
Cash at bank 200,773 177,671
202,049 178,900
CREDITORS
Amounts falling due within one year 7 (224,907 ) (223,945 )
NET CURRENT LIABILITIES (22,858 ) (45,045 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

498,301

476,318

PROVISIONS FOR LIABILITIES (82,614 ) (82,614 )
NET ASSETS 415,687 393,704

CAPITAL AND RESERVES
Called up share capital 2 2
Other reserves 247,842 247,842
Retained earnings 167,843 145,860
415,687 393,704

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2023 and were signed on its behalf by:




M Platt - Director


Rateward Limited (Registered number: 01538272)

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

1. STATUTORY INFORMATION

Rateward 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
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value.

Turnover
Turnover represents rent receivable. Income is recognised over the period of the tenancy agreement.

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 - 15% 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2022 - 2 ) .

Rateward Limited (Registered number: 01538272)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 12,178
DEPRECIATION
At 1 April 2022 10,815
Charge for year 204
At 31 March 2023 11,019
NET BOOK VALUE
At 31 March 2023 1,159
At 31 March 2022 1,363

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 520,000
NET BOOK VALUE
At 31 March 2023 520,000
At 31 March 2022 520,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2017 330,456
Cost 189,544
520,000

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 31 March 2023 by the directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,276 1,229

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,310 -
Taxation and social security 5,195 3,101
Other creditors 218,402 220,844
224,907 223,945

Rateward Limited (Registered number: 01538272)

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

8. RELATED PARTY DISCLOSURES

Included within other creditors at the year end is an aggregate amount of £204,021 (2022: £204,370) due to the directors M Platt and L R Platt. The loan has been provided unsecured, interest free and is repayable on demand.