Registered number
11669099
Rugo Estates Ltd
Filleted Accounts
30 November 2022
Rugo Estates Ltd
Registered number: 11669099
Balance Sheet
as at 30 November 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 211,661 212,198
Current assets
Debtors 4 38,680 12,730
Cash at bank and in hand 49,833 49,895
88,513 62,625
Creditors: amounts falling due within one year 5 (6,232) (1,117)
Net current assets 82,281 61,508
Total assets less current liabilities 293,942 273,706
Creditors: amounts falling due after more than one year 6 (306,158) (278,067)
Net liabilities (12,216) (4,361)
Capital and reserves
Called up share capital 1 1
Profit and loss account (12,217) (4,362)
Shareholders' funds (12,216) (4,361)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Raizel Ginsburg
Director
Approved by the board on 22 November 2023
Rugo Estates Ltd
Notes to the Accounts
for the year ended 30 November 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2021 209,512 707 2,650 212,869
At 30 November 2022 209,512 707 2,650 212,869
Depreciation
At 1 December 2021 - 141 530 671
Charge for the year - 113 424 537
At 30 November 2022 - 254 954 1,208
Net book value
At 30 November 2022 209,512 453 1,696 211,661
At 30 November 2021 209,512 566 2,120 212,198
4 Debtors 2022 2021
£ £
Other debtors 38,680 12,730
5 Creditors: amounts falling due within one year 2022 2021
£ £
Other creditors 6,232 1,117
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 233,428 205,337
Refinance 72,730 72,730
306,158 278,067
7 Other information
Rugo Estates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
158 Cromwell Road
Salford
M6 6DE
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