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COMPANY REGISTRATION NUMBER: 01287340
Robydome Properties Limited
Unaudited financial statements
30 November 2023
Robydome Properties Limited
Statement of financial position
30 November 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,898,140
1,898,565
Investments
6
56,000
56,000
-----------
-----------
1,954,140
1,954,565
Current assets
Debtors
7
15,320
62,404
Cash at bank and in hand
146,080
177,269
---------
---------
161,400
239,673
Creditors: Amounts falling due within one year
8
( 247,152)
( 117,732)
---------
---------
Net current (liabilities)/assets
( 85,752)
121,941
-----------
-----------
Total assets less current liabilities
1,868,388
2,076,506
Creditors: Amounts falling due after more than one year
9
( 2,314)
( 263,971)
Provisions
Taxation including deferred tax
( 56,906)
( 42,652)
-----------
-----------
Net assets
1,809,168
1,769,883
-----------
-----------
Capital and reserves
Called up share capital
10,000
10,000
Revaluation reserve
328,736
342,205
Profit and loss account
1,470,432
1,417,678
-----------
-----------
Shareholders funds
1,809,168
1,769,883
-----------
-----------
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 comprehensive income has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Robydome Properties Limited
Statement of financial position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 4 April 2024 , and are signed on behalf of the board by:
T W Neat
Director
Company registration number: 01287340
Robydome Properties Limited
Notes to the financial statements
Year ended 30 November 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 First Floor Suite, 2 Hillside Business Park, Bury St Edmunds, Suffolk, IP32 7EA. The trading address of the company is Unit 2 Henry Crabb Road, Littleport, Cambridgeshire, CB6 1SE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Equipment
-
25% reducing balance
Investment property is not depreciated.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Employee numbers
The average number of employees during the year was 1 (2022: 1 ).
5. Tangible assets
Investment property
Equipment
Total
£
£
£
Cost
At 1 December 2022
1,895,000
7,800
1,902,800
Additions
520
520
-----------
------
-----------
At 30 November 2023
1,895,000
8,320
1,903,320
-----------
------
-----------
Depreciation
At 1 December 2022
4,235
4,235
Charge for the year
945
945
-----------
------
-----------
At 30 November 2023
5,180
5,180
-----------
------
-----------
Carrying amount
At 30 November 2023
1,895,000
3,140
1,898,140
-----------
------
-----------
At 30 November 2022
1,895,000
3,565
1,898,565
-----------
------
-----------
The directors have revalued the investment properties to their fair value at the year end date based on their open market value.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold property
£
At 30 November 2023
Aggregate cost
1,510,143
Aggregate depreciation
-----------
Carrying value
1,510,143
-----------
At 30 November 2022
Aggregate cost
1,510,143
Aggregate depreciation
-----------
Carrying value
1,510,143
-----------
6. Investments
Shares in group undertakings
£
Cost
At 1 December 2022 and 30 November 2023
56,000
-------
Impairment
At 1 December 2022 and 30 November 2023
-------
Carrying amount
At 30 November 2023
56,000
-------
At 30 November 2022
56,000
-------
7. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
26
Other debtors
15,320
62,378
-------
-------
15,320
62,404
-------
-------
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
77,499
101,329
Trade creditors
924
132
Amounts owed to group undertakings and undertakings in which the company has a participating interest
153,667
Social security and other taxes
12,482
12,149
Other creditors
2,580
4,122
---------
---------
247,152
117,732
---------
---------
The following liabilities disclosed under creditors falling due within one year are secured by the company: Bank loans - £77,499 (2022 - £101,329).
9. Creditors: Amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
2,314
263,971
------
---------
Included within creditors: amounts falling due after more than one year is an amount of £513 (2022: £189,099) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The bank loan is secured on freehold property. The loan is due for redemption on 8th December 2034. The bank loan has an average interest rate of 2.5% over the Bank of England base rate.
The following liabilities disclosed under creditors falling due over one year are secured by the company: Bank loans - £2,314 (2022 - £263,971).
10. Director's advances, credits and guarantees
Included within debtors at the year end is an directors loan account of £Nil (2022 - £47,103). The maximum overdrawn balance during the year was £47,103. Interest of £Nil was charged at the official rate.