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REGISTERED NUMBER: 04091582 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

RYDALCROSS LIMITED

RYDALCROSS LIMITED (REGISTERED NUMBER: 04091582)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


RYDALCROSS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: P Gibney
Ms N W Shields
V Shields





SECRETARY: Ms N Gibney





REGISTERED OFFICE: Kenwright & Lynch Solicitors
2 Mitcham Road
Tooting Broadway
London
SW17 0TF





REGISTERED NUMBER: 04091582 (England and Wales)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Belfast
BT1 3BG

RYDALCROSS LIMITED (REGISTERED NUMBER: 04091582)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 66 88
Investment property 5 3,400,000 3,400,000
3,400,066 3,400,088

CURRENT ASSETS
Cash at bank 805,961 633,374

CREDITORS
Amounts falling due within one year 6 112,492 95,698
NET CURRENT ASSETS 693,469 537,676
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,093,535

3,937,764

CREDITORS
Amounts falling due after more than one
year

7

894,338

926,930
NET ASSETS 3,199,197 3,010,834

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 3,199,196 3,010,833
3,199,197 3,010,834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

RYDALCROSS LIMITED (REGISTERED NUMBER: 04091582)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 Income Statement has not been delivered.

The financial statements were authorised for issue and approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by:





P Gibney - Director


RYDALCROSS LIMITED (REGISTERED NUMBER: 04091582)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Rydalcross 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:

Establish whether there are indicators of impairment of the company's investment property. Factors taken into consideration in reaching such a decision include the economic viability, current market conditions, expected future financial performance of the asset and the business in general.

The directors also consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remain reasonable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% 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.

RYDALCROSS LIMITED (REGISTERED NUMBER: 04091582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

- Loans and borrowings
All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 NIL (2022 - NIL).

RYDALCROSS LIMITED (REGISTERED NUMBER: 04091582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 December 2022
and 30 November 2023 1,177
DEPRECIATION
At 1 December 2022 1,089
Charge for year 22
At 30 November 2023 1,111
NET BOOK VALUE
At 30 November 2023 66
At 30 November 2022 88

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 3,400,000
NET BOOK VALUE
At 30 November 2023 3,400,000
At 30 November 2022 3,400,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2016 596,920
Valuation in 2010 (1,009,975 )
Cost 3,813,055
3,400,000

If the investment properties had not been revalued they would have been included at the following historical cost:

30.11.23 30.11.22
£    £   
Cost 3,813,055 3,813,055

The investment properties were valued on an open market basis on 17 May 2016 by the directors .

During the year the directors consider the fair value of the investment properties has not changed from the previous valuation undertaken.

RYDALCROSS LIMITED (REGISTERED NUMBER: 04091582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 32,418 31,377
Taxation and social security 74,615 58,862
Other creditors 5,459 5,459
112,492 95,698

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Other creditors 894,338 926,930

Other creditors represent amounts owed to one of the directors, which are interest free and have no fixed repayment period.