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REGISTERED NUMBER: 05604975 (England and Wales)















Unaudited Financial Statements

For The Year Ended 31st October 2023


for



Rightstone Properties Limited



Rightstone Properties Limited (Registered number: 05604975)








Contents of the Financial Statements

For The Year Ended 31st October 2023





Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

4




Chartered Certified Accountants' Report  

7




Rightstone Properties Limited



Company Information

For The Year Ended 31st October 2023









DIRECTORS:

Ms J A Murray


W J Norman







SECRETARY:

Ms J A Murray







REGISTERED OFFICE:

Kings Buildings


Hill Street


Lydney


Gloucestershire


GL15 5HE







REGISTERED NUMBER:

05604975 (England and Wales)







ACCOUNTANTS:

Wildin (Accountants & Auditors) Ltd


Kings Buildings


Lydney


Gloucestershire


GL15 5HE



Rightstone Properties Limited (Registered number: 05604975)



Balance Sheet

31st October 2023



31.10.23

31.10.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

27,868


32,501



Investment property

5

394,567


394,567



422,435


427,068




CURRENT ASSETS

Debtors

6

870


824



Cash at bank

36,314


86,385



37,184


87,209



CREDITORS

Amounts falling due within one year

7

247,240


299,925



NET CURRENT LIABILITIES

(210,056

)

(212,716

)


TOTAL ASSETS LESS CURRENT

LIABILITIES

212,379


214,352




CREDITORS

Amounts falling due after more than one

year

8

164,395


164,395



NET ASSETS

47,984


49,957




CAPITAL AND RESERVES

Called up share capital

9

100


100



Revaluation reserve

10

60,411


60,411



Retained earnings

10

(12,527

)

(10,554

)


SHAREHOLDERS' FUNDS

47,984


49,957




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2023.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2023 in accordance with Section 476 of the Companies Act 2006.  


The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.



Rightstone Properties Limited (Registered number: 05604975)



Balance Sheet - continued

31st October 2023



The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.  


In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.


The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 25th July 2024 and were signed on its behalf by:






Ms J A Murray - Director




Rightstone Properties Limited (Registered number: 05604975)



Notes to the Financial Statements

For The Year Ended 31st October 2023


1.

STATUTORY INFORMATION



Rightstone Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.


2.

ACCOUNTING POLICIES



Basis of preparing the financial statements


These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.    



Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Plant and machinery

-

20% on reducing balance



Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.


Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was NIL (2022 - NIL).



Rightstone Properties Limited (Registered number: 05604975)



Notes to the Financial Statements - continued

For The Year Ended 31st October 2023


4.

TANGIBLE FIXED ASSETS


Plant and


Motor



machinery


vehicles


Totals

£   

£   

£   



COST


At 1st November 2022

33,038


25,375


58,413




Additions

2,773


-


2,773




At 31st October 2023

35,811


25,375


61,186




DEPRECIATION


At 1st November 2022

12,110


13,802


25,912




Charge for year

4,509


2,897


7,406




At 31st October 2023

16,619


16,699


33,318




NET BOOK VALUE


At 31st October 2023

19,192


8,676


27,868




At 31st October 2022

20,928


11,573


32,501




5.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1st November 2022


and 31st October 2023

394,567




NET BOOK VALUE


At 31st October 2023

394,567




At 31st October 2022

394,567





Fair value at 31st October 2023 is represented by:

£   



Valuation in 2015

110,555




Valuation in 2017

(50,144

)



Cost

334,156



394,567





If investment property had not been revalued it would have been included at the following historical cost:



31.10.23


31.10.22

£   

£   



Cost

334,156


334,156




6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.10.23


31.10.22

£   

£   



Prepayments

870


824





Rightstone Properties Limited (Registered number: 05604975)



Notes to the Financial Statements - continued

For The Year Ended 31st October 2023


7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.10.23


31.10.22

£   

£   



VAT

7,231


28,775




Directors' current accounts

172,509


200,800




Accrued expenses

67,500


70,350



247,240


299,925




8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR



31.10.23


31.10.22

£   

£   



Mortgage Loans

164,395


164,395




9.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.10.23


31.10.22


value:

£   

£   



100

Ordinary

£1

100


100




10.

RESERVES


Retained


Revaluation



earnings


reserve


Totals

£   

£   

£   




At 1st November 2022

(10,554

)

60,411


49,857




Deficit for the year

(1,973

)

(1,973

)



At 31st October 2023

(12,527

)

60,411


47,884




11.

ULTIMATE CONTROLLING PARTY



The ultimate controlling party is Ms J A Murray.


Chartered Certified Accountants' Report to the Board of Directors

on the Unaudited Financial Statements of

Rightstone Properties Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rightstone Properties Limited for the year ended 31st October 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.


As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.  


This report is made solely to the Board of Directors of Rightstone Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rightstone Properties Limited and state those matters that we have agreed to state to the Board of Directors of Rightstone Properties Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.      


It is your duty to ensure that Rightstone Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Rightstone Properties Limited. You consider that Rightstone Properties Limited is exempt from the statutory audit requirement for the year.    


We have not been instructed to carry out an audit or a review of the financial statements of Rightstone Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.  







Wildin (Accountants & Auditors) Ltd

Kings Buildings

Lydney

Gloucestershire

GL15 5HE



25th July 2024