0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 120,594 31,842 152,436 83,365 19,641 103,006 49,430 37,229 xbrli:pure xbrli:shares iso4217:GBP NI608277 2022-08-01 2023-07-31 NI608277 2023-07-31 NI608277 2022-07-31 NI608277 2021-08-01 2022-07-31 NI608277 2022-07-31 NI608277 2021-07-31 NI608277 core:FurnitureFittings 2022-08-01 2023-07-31 NI608277 bus:Director2 2022-08-01 2023-07-31 NI608277 core:FurnitureFittings 2022-07-31 NI608277 core:FurnitureFittings 2023-07-31 NI608277 core:WithinOneYear 2023-07-31 NI608277 core:WithinOneYear 2022-07-31 NI608277 core:AfterOneYear 2023-07-31 NI608277 core:AfterOneYear 2022-07-31 NI608277 core:ShareCapital 2023-07-31 NI608277 core:ShareCapital 2022-07-31 NI608277 core:RetainedEarningsAccumulatedLosses 2023-07-31 NI608277 core:RetainedEarningsAccumulatedLosses 2022-07-31 NI608277 core:FurnitureFittings 2022-07-31 NI608277 bus:SmallEntities 2022-08-01 2023-07-31 NI608277 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 NI608277 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 NI608277 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 NI608277 bus:FullAccounts 2022-08-01 2023-07-31
COMPANY REGISTRATION NUMBER: NI608277
RKO Developments Limited
Filleted Unaudited Financial Statements
For the year ended
31 July 2023
RKO Developments Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
49,430
37,229
Current assets
Debtors
5
22,158
36,761
Cash at bank and in hand
6,282
1,391
--------
--------
28,440
38,152
Creditors: amounts falling due within one year
6
587,171
565,567
---------
---------
Net current liabilities
558,731
527,415
---------
---------
Total assets less current liabilities
( 509,301)
( 490,186)
Creditors: amounts falling due after more than one year
7
26,250
26,250
---------
---------
Net liabilities
( 535,551)
( 516,436)
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 535,553)
( 516,438)
---------
---------
Shareholder deficit
( 535,551)
( 516,436)
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 July 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 member has 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
RKO Developments Limited
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 18 April 2024 , and are signed on behalf of the board by:
Ms C E Leak
Director
Company registration number: NI608277
RKO Developments Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Bridge House 3, Bridge Street Kilkeel, Newry, County Down, Northern Ireland, BT34 4AD.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
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.
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:
Fixtures and fittings
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 August 2022
120,594
120,594
Additions
31,842
31,842
---------
---------
At 31 July 2023
152,436
152,436
---------
---------
Depreciation
At 1 August 2022
83,365
83,365
Charge for the year
19,641
19,641
---------
---------
At 31 July 2023
103,006
103,006
---------
---------
Carrying amount
At 31 July 2023
49,430
49,430
---------
---------
At 31 July 2022
37,229
37,229
---------
---------
5. Debtors
2023
2022
£
£
Trade debtors
21,958
33,427
Other debtors
200
3,334
--------
--------
22,158
36,761
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,001
Other creditors
587,171
556,566
---------
---------
587,171
565,567
---------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
26,250
26,250
--------
--------