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REGISTERED NUMBER: 02890218 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Ratefield Limited

Ratefield Limited (Registered number: 02890218)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ratefield Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: Mr M A Joyce





REGISTERED OFFICE: 3 Park Square
Leeds
West Yorkshire
LS1 2NE





REGISTERED NUMBER: 02890218 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

Ratefield Limited (Registered number: 02890218)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 51 51

CURRENT ASSETS
Debtors 5 1,572,918 1,601,354
Cash at bank 10,476 18,867
1,583,394 1,620,221
CREDITORS
Amounts falling due within one year 6 1,150,241 1,277,730
NET CURRENT ASSETS 433,153 342,491
TOTAL ASSETS LESS CURRENT
LIABILITIES

433,204

342,542

CAPITAL AND RESERVES
Called up share capital 7 4 4
Share premium 8 520,170 520,170
Retained earnings 8 (86,970 ) (177,632 )
SHAREHOLDERS' FUNDS 433,204 342,542

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

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

The director acknowledges his 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.

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 by the director and authorised for issue on 30 July 2024 and were signed by:





Mr M A Joyce - Director


Ratefield Limited (Registered number: 02890218)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Ratefield 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of services provided, excluding value added tax.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Valuation of investments
Investments held as fixed assets are stated at cost less any provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Ratefield Limited (Registered number: 02890218)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 November 2022
and 31 October 2023 51
NET BOOK VALUE
At 31 October 2023 51
At 31 October 2022 51

Cost or valuation at 31 October 2023 is represented by:

Shares in
group
undertakings
£   
Cost 51

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,572,918 1,580,957
Amounts owed by related undertakings - 20,397
1,572,918 1,601,354

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Sundry creditors 448 511
Amounts owed to group undertakings 1,057,907 982,867
Corporation tax 26,363 20,313
Social security and other taxes 2,160 5,194
VAT 49,820 47,845
Amounts owed to related undertakings - 209,000
Accruals and deferred income 13,543 12,000
1,150,241 1,277,730

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4 Ordinary £1 4 4

Ratefield Limited (Registered number: 02890218)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 November 2022 (177,632 ) 520,170 342,538
Profit for the year 90,662 90,662
At 31 October 2023 (86,970 ) 520,170 433,200

Ratefield Limited (Registered number: 02890218)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. RELATED PARTY DISCLOSURES

Controlling parties

The company is controlled by M A Joyce through his beneficial interest in the parent company Precis (1638) Limited.


Related party transactions and balances

2023 2022
Amounts owing to Ratefield Limited by subsidiary undertakings £ £

JGWCO 178 Limited 1,572,918 1,580,957

Total owed by subsidiary undertakings 1,572,918 1,580,957


Amounts owed by Ratefield Limited to ultimate parent undertaking

Precis (1638) Limited 1,057,907 982,867

Total owed to ultimate parent undertaking 1,057,907 982,867


Amounts owed by Ratefield Limited to related undertakings

The Low Hall Partnership LLP - 209,000
York Two Limited - -

Total owed to related undertakings - 209,000


Amounts owed to Ratefield Limited from related undertakings

Seacroft Approach Limited - 19,952
York Two Limited - 445

Total owed from related undertakings - 20,397


Interest received by Ratefield Limited from subsidiary undertakings

JGWCO 178 Limited 19,027 18,747

Total interest received from subsidiary undertakings 19,027 18,747


Interest paid by Ratefield Limited to related undertakings

Precis (1638) Limited 16,109 17,217

Total interest paid to related undertakings 16,109 17,217







Ratefield Limited (Registered number: 02890218)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

Management charges received by Ratefield Limited from group and related
undertakings

£

£

Student Facility Management Limited (Previously AQH Micklegate Facility 17,311 5,207
Management Limited)
JGWCO 178 Limited 147,981 304,092




During the year the company made a management charge of £130,000 to The Low Hall Partnership LLP, a partnership of which M A Joyce is a member.

During the year ended 31 October 2022 the received a charge of £40,000 from the Low Hall Partnership LLP.

10. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its director, M A Joyce, through his beneficial interests in the parent undertaking, Precis (1638) Limited.