Ruthtop Properties Ltd
Registered number: 12741582
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 379,897 382,783
Current assets
Debtors 4 1,085 -
Cash at bank and in hand 856 3,145
1,941 3,145
Creditors: amounts falling due within one year 5 (4,230) (5,443)
Net current liabilities (2,289) (2,298)
Total assets less current liabilities 377,608 380,485
Creditors: amounts falling due after more than one year 6 (387,098) (388,355)
Net liabilities (9,490) (7,870)
Capital and reserves
Called up share capital 1 1
Profit and loss account (9,491) (7,871)
Shareholder's funds (9,490) (7,870)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the board on 29 February 2024 and signed by:
Ruth Nelson
Director
Ruthtop Properties Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Buildings over 100 years
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2022 388,554
At 31 July 2023 388,554
Depreciation
At 1 August 2022 5,771
Charge for the year 2,886
At 31 July 2023 8,657
Net book value
At 31 July 2023 379,897
At 31 July 2022 382,783
4 Debtors 2023 2022
£ £
Other debtors 1,085 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 4,230 5,443
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 277,898 277,896
Other creditors 109,200 110,459
387,098 388,355
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 277,898 277,896
Secured bank loans 277,898 277,896
The bank has a fixed charge over the company's leasehold property.
8 Other information
Ruthtop Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2nd Floor College House
17 King Edwards Road
Ruislip
HA4 7AE
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