Registered number
05898360
Ringwall Estates Ltd
Filleted Accounts
31 August 2023
Ringwall Estates Ltd
Registered number: 05898360
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 178,424 177,561
Investments 4 333,191 328,528
511,615 506,089
Current assets
Debtors 5 372,000 372,572
Cash at bank and in hand 41,240 36,042
413,240 408,614
Creditors: amounts falling due within one year 6 (277,999) (296,816)
Net current assets 135,241 111,798
Total assets less current liabilities 646,856 617,887
Creditors: amounts falling due after more than one year 7 (128,818) (136,459)
Net assets 518,038 481,428
Capital and reserves
Called up share capital 1 1
Revaluation reserve 8 28,596 28,596
Profit and loss account 489,441 452,831
Shareholder's funds 518,038 481,428
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 his 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.
B M Bamberger
Director
Approved by the board on 12 April 2024
Ringwall Estates Ltd
Notes to the Accounts
for the year ended 31 August 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 (as applied to small entities by section 1A of the standard).
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 September 2022 172,338 14,768 187,106
Additions - 1,938 1,938
At 31 August 2023 172,338 16,706 189,044
Depreciation
At 1 September 2022 - 9,545 9,545
Charge for the year - 1,075 1,075
At 31 August 2023 - 10,620 10,620
Net book value
At 31 August 2023 172,338 6,086 178,424
At 31 August 2022 172,338 5,223 177,561
Freehold land and buildings: 2023 2022
£ £
Historical cost 86,404 86,404
Cumulative depreciation based on historical cost - -
86,404 86,404
4 Investments
Other
investments
£
Cost
At 1 September 2022 328,528
Additions 37,663
Disposals (33,000)
At 31 August 2023 333,191
5 Debtors 2023 2022
£ £
Trade debtors 6,000 6,572
Other debtors 366,000 366,000
372,000 372,572
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 5,610 11,979
Other creditors 272,389 284,837
277,999 296,816
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 128,818 136,459
8 Revaluation reserve 2023 2022
£ £
At 1 September 2022 28,596 28,596
At 31 August 2023 28,596 28,596
9 Other information
Ringwall Estates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
c/o B Olsberg
Room 9 Enterprise House
3 Middleton Rd
Manchester
M8 5DT
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