Company Registration No. 13907979 (England and Wales)
RIGDEN ESTATES SUSSEX LTD
Unaudited accounts
for the year ended 29 February 2024
RIGDEN ESTATES SUSSEX LTD
Unaudited accounts
Contents
RIGDEN ESTATES SUSSEX LTD
Company Information
for the year ended 29 February 2024
Directors
Anne Pearce
Emily Pearce
Isabel Pearce
Company Number
13907979 (England and Wales)
Registered Office
18 GOLDSTONE CRESCENT
HOVE
BN3 6BA
ENGLAND
Accountants
KMG Accountancy Ltd
The Offices
57 Newtown Road
Hove
BN3 7BA
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of RIGDEN ESTATES SUSSEX LTD for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
RIGDEN ESTATES SUSSEX LTD for the year ended
29 February 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
KMG Accountancy Ltd
Chartered Accountants
The Offices
57 Newtown Road
Hove
BN3 7BA
19 April 2024
RIGDEN ESTATES SUSSEX LTD
Statement of financial position
as at 29 February 2024
Investment property
1,777,000
1,205,000
Cash at bank and in hand
28,058
4,307
Creditors: amounts falling due within one year
(650)
(11,499)
Net current assets/(liabilities)
27,408
(7,192)
Total assets less current liabilities
1,804,408
1,197,808
Creditors: amounts falling due after more than one year
(1,671,849)
(1,092,494)
Provisions for liabilities
Deferred tax
(30,780)
(22,325)
Called up share capital
150
150
Revaluation reserve
162,000
117,500
Profit and loss account
(60,371)
(34,661)
Shareholders' funds
101,779
82,989
For the year ending 29 February 2024 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 19 April 2024 and were signed on its behalf by
Anne Pearce
Director
Company Registration No. 13907979
RIGDEN ESTATES SUSSEX LTD
Notes to the Accounts
for the year ended 29 February 2024
RIGDEN ESTATES SUSSEX LTD is a private company, limited by shares, registered in England and Wales, registration number 13907979. The registered office is 18 GOLDSTONE CRESCENT, HOVE, BN3 6BA, ENGLAND.
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.
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 March 2023
1,205,000
Net gain from fair value adjustments
44,500
At 29 February 2024
1,777,000
The Directors valued the investment propertues using publicly available data at the balance sheet date.
RIGDEN ESTATES SUSSEX LTD
Notes to the Accounts
for the year ended 29 February 2024
5
Creditors: amounts falling due within one year
2024
2023
6
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
977,416
365,425
Loans from directors
694,433
727,069
7
Transactions with related parties
Durng the year a Director, A Pearce, loaned the Company funds for working capital purposes. The loan was interest free, unsecured and repayable on demand. The balance outstanding at the year-end was £694,433 (2023: £727,069).
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).