Company registration number 256665 (England and Wales)
THE RUISLIP VILLAGE TRUST LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
THE RUISLIP VILLAGE TRUST LIMITED
CONTENTS
Page
Directors' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
THE RUISLIP VILLAGE TRUST LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -
The directors present their annual report and financial statements for the year ended 31 December 2023.
Principal activities
The principal activity of the company continued to be that of property investment and rental.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
S J Tait
J M Tait
J R Tait
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
J M Tait
Director
15 August 2024
THE RUISLIP VILLAGE TRUST LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
309
Investment property
4
450,000
450,000
Investments
5
100,253
100,253
550,253
550,562
Current assets
Debtors
6
4,167
Cash at bank and in hand
84,394
82,216
84,394
86,383
Creditors: amounts falling due within one year
7
(15,645)
(20,350)
Net current assets
68,749
66,033
Total assets less current liabilities
619,002
616,595
Provisions for liabilities
(82,950)
(82,950)
Net assets
536,052
533,645
Capital and reserves
Called up share capital
2,000
2,000
Other reserves
437,689
437,689
Profit and loss reserves
96,363
93,956
Total equity
536,052
533,645
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
THE RUISLIP VILLAGE TRUST LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 15 August 2024 and are signed on its behalf by:
S J Tait
Director
Company registration number 256665 (England and Wales)
THE RUISLIP VILLAGE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information
The Ruislip Village Trust Limited is a private company limited by shares incorporated in England and Wales. The registered office is 308 Ewell Road, Surbiton, Surrey, KT6 7AL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on cost
Motor vehicles
25% on cost
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.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Fixed asset investments
Fixed Asset investments are disclosed at cost.
1.5
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalsed in the balance sheet.Those held under hire purchase contracts are depreciated over their estimated useful lives.Those held under finance leases are depreciated over their estimated useful lives or the lease term,whichever is the shorter.The interest element of these obligations is charged to profit or loss over the relevent period.The capital element of the future payments is treated as a liability.
THE RUISLIP VILLAGE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
3
THE RUISLIP VILLAGE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
42,156
Depreciation and impairment
At 1 January 2023
41,847
Depreciation charged in the year
309
At 31 December 2023
42,156
Carrying amount
At 31 December 2023
At 31 December 2022
309
4
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
450,000
5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
100,253
100,253
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
4,167
7
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
1,618
Other creditors
14,027
20,350
15,645
20,350
THE RUISLIP VILLAGE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
8
Ultimate Controlling Party
The Controlling party is S J Tait.
10
Related Party Disclosures
During the year, total dividends of £5,997 (2022-£5,997 ) were paid to the directors.