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Registered Number: 00730165
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 August 2023

for

RUDMAN & SHEEN (HOLDINGS) LIMITED

Directors Mr P Sheen
Mrs C A Smyth
Registered Number 00730165
Registered Office 6 Marina Road
Durrington
Salisbury
Wiltshire
SP4 8DB
Secretary Mr P Sheen
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 39    44 
Investments 4 565,000    565,000 
565,039    565,044 
Current assets      
Debtors: amounts falling due within one year 5 903    2,133 
Cash at bank and in hand 25,767    11,922 
26,670    14,055 
Creditors: amount falling due within one year 6 (18,634)   (14,147)
Net current assets 8,036    (92)
 
Total assets less current liabilities 573,075    564,952 
Provisions for liabilities 7 (49,502)   (49,503)
Net assets 523,573    515,449 
 

Capital and reserves
     
Called up share capital 8 200    200 
Profit and loss account 523,373    515,249 
Shareholder's funds 523,573    515,449 
 


For the year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 06 April 2024 and were signed on its behalf by:


-------------------------------
Mr P Sheen
Director
2
General Information
Rudman & Sheen (Holdings) Limited is a private company, limited by shares, registered in England and Wales, registration number 00730165, registration address 6 Marina Road, Durrington, Salisbury, Wiltshire, SP4 8DB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 represents property rentals receivable during the year.
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 taxation
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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 10% Reducing Balance
Investment properties
Investment properties are included at fair value. Gains are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the properties are sold.
Fixed asset investments
Fixed asset investments represent investment properties at fair value.
Financial instruments
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is at a rate of interest that is not market rate.
2.

Average number of employees


Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 September 2022 4,071    4,071 
Additions  
Disposals  
At 31 August 2023 4,071    4,071 
Depreciation
At 01 September 2022 4,027    4,027 
Charge for year 5    5 
On disposals  
At 31 August 2023 4,032    4,032 
Net book values
Closing balance as at 31 August 2023 39    39 
Opening balance as at 01 September 2022 44    44 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 September 2022 565,000    565,000 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 August 2023 565,000    565,000 
Fixed asset investments represent investment property at fair value. The historic cost of the properties is £220,391.

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Debtors 617    1,783 
Prepayments 286    350 
903    2,133 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax 8,666    4,134 
Accruals & Deferred Income 1,968    2,013 
Director's Loan Account - Mr P Sheen 8,000    8,000 
18,634    14,147 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 49,503    17,065 
Charged to Profit & Loss (1)   32,438 
49,502    49,503 

8.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
800 Class A shares of £0.25 each 200    200 
200    200 

9.

Director’s loan

Director's Loan Account

At the beginning of the year the director, Mr P Sheen was owed £8,000, which remains owing at the year end. The loan is interest free and is repayable on demand.
10.

Fair Value Reserve

Included in the Profit & Loss Account balance of £523,373 at 31 August 2023 is a Fair Value Reserve of 296,058 (2022 £296,058) arising from the revaluation of investment properties which is not distributable.
3