REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2023 |
for |
Ratefield Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium | 8 |
Retained earnings | 8 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
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 |
Ratefield Limited (Registered number: 02890218) |
Notes to the Financial Statements |
for the Year Ended 31 October 2023 |
1. | STATUTORY INFORMATION |
Ratefield Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
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 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Sundry creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
VAT | 49,820 | 47,845 |
Amounts owed to related undertakings | - | 209,000 |
Accruals and deferred income |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
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. |