2022-04-012023-03-312023-03-31false13429588RYLE PROPERTY 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RYLE PROPERTY LIMITED

Registered Number
13429588
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

RYLE PROPERTY LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

RYLE, Christopher Jonathan
RYLE, Yvette Suzannah

Registered Address

Piccadilly Business Centre Aldow Enterprise Park
Blackett Street
Manchester
M12 6AE

Registered Number

13429588 (England and Wales)
RYLE PROPERTY LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property5249,064231,064
249,064231,064
Current assets
Debtors62,027377
Cash at bank and on hand1,7673,268
3,7943,645
Creditors amounts falling due within one year7(3,973)(1,384)
Net current assets (liabilities)(179)2,261
Total assets less current liabilities248,885233,325
Creditors amounts falling due after one year8(256,236)(255,236)
Provisions for liabilities9(3,420)-
Net assets(10,771)(21,911)
Capital and reserves
Called up share capital100100
Revaluation reserve14,580-
Profit and loss account(25,451)(22,011)
Shareholders' funds(10,771)(21,911)
The financial statements were approved and authorised for issue by the Board of Directors on 1 December 2023, and are signed on its behalf by:
RYLE, Yvette Suzannah
Director
Registered Company No. 13429588
RYLE PROPERTY LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Investment property policy
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.
Revenue recognition policy
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.
Deferred tax policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year22
5.Investment property

£
Fair value at 01 April 22231,064
Fair value adjustments18,000
At 31 March 23249,064
6.Debtors

2023

2022

££
Trade debtors / trade receivables1,865230
Prepayments and accrued income162147
Total2,027377
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.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables2,611-
Accrued liabilities and deferred income1,3621,384
Total3,9731,384
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.
8.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts256,236255,236
Total256,236255,236
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)3,420-
Total3,420-