Russ Rigby Motor Company Limited 01891094 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is other letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true true 01891094 2022-03-01 2023-02-28 01891094 2023-02-28 01891094 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 01891094 core:Non-currentFinancialInstruments 2023-02-28 01891094 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 01891094 bus:SmallEntities 2022-03-01 2023-02-28 01891094 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 01891094 bus:FullAccounts 2022-03-01 2023-02-28 01891094 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 01891094 bus:RegisteredOffice 2022-03-01 2023-02-28 01891094 bus:Director2 2022-03-01 2023-02-28 01891094 bus:Director3 2022-03-01 2023-02-28 01891094 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 01891094 core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 01891094 countries:EnglandWales 2022-03-01 2023-02-28 01891094 2022-02-28 01891094 2021-03-01 2022-02-28 01891094 2022-02-28 01891094 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 01891094 core:Non-currentFinancialInstruments 2022-02-28 01891094 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 01891094

Russ Rigby Motor Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Russ Rigby Motor Company Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Russ Rigby Motor Company Limited

Company Information

Directors

Mrs Cynthia Margaret Rigby

Mr Alexander John Rigby

Registered office

246 Mossy Lea Road
Wrightington
Wigan
Lancashire
WN6 9RL

Accountants

EKWilliams Accountants Limited
1 Pavilion Square
Westhoughton
Bolton
BL5 3AJ

 

Russ Rigby Motor Company Limited

(Registration number: 01891094)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

200,000

200,000

Current assets

 

Cash at bank and in hand

 

213

1,199

Creditors: Amounts falling due within one year

5

(10,941)

(8,433)

Net current liabilities

 

(10,728)

(7,234)

Total assets less current liabilities

 

189,272

192,766

Creditors: Amounts falling due after more than one year

5

(51,290)

(38,010)

Net assets

 

137,982

154,756

Capital and reserves

 

Called up share capital

2

2

Other reserves

132,231

132,231

Retained earnings

5,749

22,523

Shareholders' funds

 

137,982

154,756

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 November 2023 and signed on its behalf by:
 

 

Russ Rigby Motor Company Limited

(Registration number: 01891094)
Balance Sheet as at 28 February 2023

.........................................
Mr Alexander John Rigby
Director

 

Russ Rigby Motor Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
246 Mossy Lea Road
Wrightington
Wigan
Lancashire
WN6 9RL

These financial statements were authorised for issue by the Board on 29 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents the invoice value of rental income receivable net of VAT. It is recognised in accordance with the lease in place with the tenants.

 

Russ Rigby Motor Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Depreciation

There has been no depreciation within the year as there are no assets liable to be depreciated.

Asset class

Depreciation method and rate

Investment property

Not depreciated

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss. The directors have deemed that the value of the investment property is included in line with its current market value

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 1).

4

Investment properties

2023
£

At 1 March

200,000

At 28 February

200,000

The investment property was revalued in 2015. The directors consider that the carrying amount is equivalent to the property's market value at the year end.

 

Russ Rigby Motor Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

10,941

8,433

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

51,290

38,010

6

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

51,290

38,010