Rubicon Property (Ellison) Limited 08398454 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is property investment. Digita Accounts Production Advanced 6.30.9574.0 true 08398454 2023-03-01 2024-02-29 08398454 2024-02-29 08398454 core:RetainedEarningsAccumulatedLosses 2024-02-29 08398454 core:ShareCapital 2024-02-29 08398454 core:CurrentFinancialInstruments 2024-02-29 08398454 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 08398454 core:Non-currentFinancialInstruments 2024-02-29 08398454 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 08398454 bus:SmallEntities 2023-03-01 2024-02-29 08398454 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 08398454 bus:FullAccounts 2023-03-01 2024-02-29 08398454 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08398454 bus:RegisteredOffice 2023-03-01 2024-02-29 08398454 bus:Director2 2023-03-01 2024-02-29 08398454 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08398454 countries:EnglandWales 2023-03-01 2024-02-29 08398454 2023-02-28 08398454 2022-03-01 2023-02-28 08398454 2023-02-28 08398454 core:RetainedEarningsAccumulatedLosses 2023-02-28 08398454 core:ShareCapital 2023-02-28 08398454 core:CurrentFinancialInstruments 2023-02-28 08398454 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 08398454 core:Non-currentFinancialInstruments 2023-02-28 08398454 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 08398454

Rubicon Property (Ellison) Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Rubicon Property (Ellison) Limited

(Registration number: 08398454)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

975,000

975,000

Current assets

 

Debtors

5

387,821

387,821

Cash at bank and in hand

 

172,450

119,521

 

560,271

507,342

Creditors: Amounts falling due within one year

6

(285,303)

(279,300)

Net current assets

 

274,968

228,042

Total assets less current liabilities

 

1,249,968

1,203,042

Creditors: Amounts falling due after more than one year

6

(525,000)

(525,000)

Provisions for liabilities

(69,204)

(69,204)

Net assets

 

655,764

608,838

Capital and reserves

 

Called up share capital

100

100

Retained earnings

655,664

608,738

Shareholders' funds

 

655,764

608,838

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Director's 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 director acknowledges his 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.

 

Rubicon Property (Ellison) Limited

(Registration number: 08398454)
Balance Sheet as at 29 February 2024

Approved and authorised by the director on 5 April 2024
 

.........................................
Mr NG Redman
Director

 

Rubicon Property (Ellison) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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:
The Corner House
2 High Street
Aylesford
Kent
ME20 7BG
England

These financial statements were authorised for issue by the director on 5 April 2024.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
the amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Rubicon Property (Ellison) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Rubicon Property (Ellison) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 March

975,000

At 29 February

975,000

The fair value of the property has been determined by the director.

5

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

387,821

387,821

 

387,821

387,821

 

Rubicon Property (Ellison) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

269,326

268,286

Taxation and social security

 

15,221

10,258

Accruals and deferred income

 

756

756

 

285,303

279,300

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

525,000

525,000

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

525,000

525,000

2024
£

2023
£

Current loans and borrowings

Other borrowings

269,326

268,286