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Company registration number: 02381783
Town Mill Ruthin Management Company Limited
Unaudited filleted financial statements
30 June 2023
Town Mill Ruthin Management Company Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Town Mill Ruthin Management Company Limited
Directors and other information
Directors R P Garbutt
D S Jones
N Jones
E Morgan
S W Pels
A Maden
E A Wilson
Secretary R P Garbutt
Company number 02381783
Registered office Flat 1, Felindre
Mill Street
Ruthin
Denbighshire
LL15 1HL
Accountants Hill & Roberts
1 Tan y Castell
Ruthin
Denbighshire
LL15 1DQ
Town Mill Ruthin Management Company Limited
Statement of financial position
30 June 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 1 1
_______ _______
1 1
Current assets
Cash at bank and in hand 106 106
_______ _______
106 106
Net current assets 106 106
_______ _______
Total assets less current liabilities 107 107
_______ _______
Net assets 107 107
_______ _______
Capital and reserves
Called up share capital 107 107
_______ _______
Shareholders funds 107 107
_______ _______
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 February 2024 , and are signed on behalf of the board by:
R P Garbutt
Director
Company registration number: 02381783
Town Mill Ruthin Management Company Limited
Notes to the financial statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Town Mill Ruthin Management Company Limited, Flat 1, Felindre, Mill Street, Ruthin, Denbighshire, LL15 1HL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income statement policy
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in equity during the current year or prior year.
Taxation
The company is dormant and thus not subject to corporation tax.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - Not provided as cost is under £10
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Freehold property Total
£ £
Cost
At 1 July 2022 and 30 June 2023 1 1
_______ _______
Depreciation
At 1 July 2022 and 30 June 2023 - -
_______ _______
Carrying amount
At 30 June 2023 1 1
_______ _______
At 30 June 2022 1 1
_______ _______