Company registration number 06740776 (England and Wales)
RISHWOOD HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
RISHWOOD HOMES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
RISHWOOD HOMES LIMITED
BALANCE SHEET
AS AT
29 SEPTEMBER 2023
29 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
101,185
111,149
Current assets
Debtors
4
49,032
46,461
Cash at bank and in hand
42,533
18,427
91,565
64,888
Creditors: amounts falling due within one year
5
(102,069)
(64,600)
Net current (liabilities)/assets
(10,504)
288
Total assets less current liabilities
90,681
111,437
Provisions for liabilities
(2,012)
(673)
Net assets
88,669
110,764
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
88,569
110,664
Total equity
88,669
110,764

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 29 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period 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 financial statements were approved and signed by the director and authorised for issue on 22 August 2024
M A Wikinson
Director
Company registration number 06740776 (England and Wales)
RISHWOOD HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 SEPTEMBER 2023
- 2 -
1
Accounting policies
Company information

Rishwood Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.

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.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The director is not aware of any material uncertainties affecting the company, and considers that the company will have sufficient resources to continue trading for the foreseeable future. As a result, the director have continued to adopt the going concern basis in preparing the financial statements.true

1.3
Turnover

Turnover represents amounts receivable in respect of rental income and management services.

1.4
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:

Land and buildings Leasehold
Over the term of the lease
Plant and machinery
33% reducing balance
Fixtures, fittings & equipment
10% reducing balance
Computer equipment
25% reducing balance
Motor vehicles
25% 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.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

RISHWOOD HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
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.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
2
2
RISHWOOD HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 SEPTEMBER 2023
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2022
124,440
85,005
209,445
Additions
-
0
9,134
9,134
At 29 September 2023
124,440
94,139
218,579
Depreciation and impairment
At 1 October 2022
40,142
58,154
98,296
Depreciation charged in the period
15,478
3,620
19,098
At 29 September 2023
55,620
61,774
117,394
Carrying amount
At 29 September 2023
68,820
32,365
101,185
At 30 September 2022
84,298
26,851
111,149
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
10,718
7,820
Corporation tax recoverable
2,551
-
0
Other debtors
19,958
18,134
Prepayments and accrued income
15,805
20,507
49,032
46,461
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
36,508
29,552
Corporation tax
7,528
16,064
Other taxation and social security
818
1,466
Other creditors
1,348
611
Accruals
55,867
16,907
102,069
64,600
RISHWOOD HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 SEPTEMBER 2023
- 5 -
6
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
98 "A" Ordinary Shares of £1 each
98
98
2 "B" Ordinary Shares of £1 each
2
2
100
100
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