Company Registration No. 08325742 (England and Wales)
Rhaeadr Limited
Unaudited accounts
for the year ended 31 December 2023
Rhaeadr Limited
Unaudited accounts
Contents
Rhaeadr Limited
Company Information
for the year ended 31 December 2023
Directors
Mrs C Hasler
Mr A Hasler
Company Number
08325742 (England and Wales)
Registered Office
Troed Y Wenallt Farm Tyla
Govilon
Abergavenny
NP7 9RU
Accountants
Meon Valley Accounting Ltd
Malt House Studios
4 Brook Street
Bishops Waltham
Hampshire
SO32 1AX
Rhaeadr Limited
Statement of financial position
as at 31 December 2023
Investment property
240,000
205,000
Cash at bank and in hand
2,196
621
Creditors: amounts falling due within one year
(189,717)
(185,489)
Net current liabilities
(187,521)
(184,868)
Total assets less current liabilities
53,160
20,983
Provisions for liabilities
Deferred tax
(15,064)
(8,847)
Called up share capital
100
100
Fair value reserve
95,043
59,927
Profit and loss account
(57,047)
(47,891)
Shareholders' funds
38,096
12,136
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2024 and were signed on its behalf by
Mrs C Hasler
Director
Company Registration No. 08325742
Rhaeadr Limited
Notes to the Accounts
for the year ended 31 December 2023
Rhaeadr Limited is a private company, limited by shares, registered in England and Wales, registration number 08325742. The registered office is Troed Y Wenallt Farm Tyla, Govilon, Abergavenny, NP7 9RU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Government grants have been accounted for under the accruals model as permitted by FRS102. The grants received have been revenue in nature and recognised within 'other operating income' within the income statement in the same period as the related expenditure.
Rhaeadr Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery
Fair value at 1 January 2023
205,000
Net gain from fair value adjustments
35,000
At 31 December 2023
240,000
Investment property was valued on an open market basis on 8 November 2021 by an independent firm of estate agents who have the relevant expertise to provide an accurate valuation of these properties. Subsequent revaluations have been determined by a Director based on up to date market information.
6
Creditors: amounts falling due within one year
2023
2022
Loans from directors
188,717
184,519
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).