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Registered number: 08541508
Ruby Oak Park Ltd
Financial Statements
For The Year Ended 31 March 2024
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08541508
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 415,782 419,458
415,782 419,458
CURRENT ASSETS
Stocks 4,000 4,000
Debtors 5 22,301 2,346
Cash at bank and in hand 40,436 91,463
66,737 97,809
Creditors: Amounts Falling Due Within One Year 6 (150,148 ) (58,307 )
NET CURRENT ASSETS (LIABILITIES) (83,411 ) 39,502
TOTAL ASSETS LESS CURRENT LIABILITIES 332,371 458,960
Creditors: Amounts Falling Due After More Than One Year 7 (281,540 ) (441,093 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,748 ) -
NET ASSETS 40,083 17,867
CAPITAL AND RESERVES
Called up share capital 2 2
Profit and Loss Account 40,081 17,865
SHAREHOLDERS' FUNDS 40,083 17,867
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Laura Sanders
Director
12 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ruby Oak Park Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08541508 . The registered office is Ruby Oak Park, Brandis Corner, Holsworthy, EX22 7YA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, . The principal accounting policies adopted are set out below
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold NIL
Plant & Machinery 25% reducing balance
Fixtures & Fittings 15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 18 (2023: 14)
18 14
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 372,790 13,167 148,576 534,533
Additions - 2,497 1,986 4,483
As at 31 March 2024 372,790 15,664 150,562 539,016
Depreciation
As at 1 April 2023 - 6,189 108,886 115,075
Provided during the period - 1,961 6,198 8,159
As at 31 March 2024 - 8,150 115,084 123,234
Net Book Value
As at 31 March 2024 372,790 7,514 35,478 415,782
As at 1 April 2023 372,790 6,978 39,690 419,458
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,849 2,346
Other debtors 16,452 -
22,301 2,346
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,341 11,595
Other creditors 111,056 31,686
Taxation and social security 23,751 15,026
150,148 58,307
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 245,707 -
Other loans 35,833 441,093
281,540 441,093
The bank loan is secured by a floating charge on the property or undertaking of the company.
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