Company registration number 00545759 (England and Wales)
RALEBRIDGE FINANCIAL INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
RALEBRIDGE FINANCIAL INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
RALEBRIDGE FINANCIAL INVESTMENTS LIMITED
BALANCE SHEET
AS AT
30 DECEMBER 2023
30 December 2023
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Fixed assets
Investment properties
3
2,203,240
2,203,240
Current assets
Debtors
4
36,018
41,358
Cash at bank and in hand
586,982
548,784
623,000
590,142
Creditors: amounts falling due within one year
5
(88,350)
(60,006)
Net current assets
534,650
530,136
Net assets
2,737,890
2,733,376
Capital and reserves
Called up share capital
6
63,600
63,600
Profit and loss reserves
7
2,674,290
2,669,776
Total equity
2,737,890
2,733,376

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 30 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 members have 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 financial statements were approved by the board of directors and authorised for issue on 3 June 2024 and are signed on its behalf by:
Mr R Woolley
Director
Company Registration No. 00545759
RALEBRIDGE FINANCIAL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Ralebridge Financial Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Lester Aldridge, Alleyn House, Carlton Crescent, Southampton, Hampshire, United Kingdom, SO15 2EU.

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
Turnover

Turnover represents amounts receivable for rent on its investment properties and is recognised on an accruals basis.

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
Cash and cash equivalents

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.

1.5
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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

RALEBRIDGE FINANCIAL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
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.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

2
Employees

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

2023
2022
Number
Number
Total
1
1
3
Investment property
2023
£
Fair value
At 31 December 2022 and 30 December 2023
2,203,240

Investment property comprises various properties in Hastings and Surbiton. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

RALEBRIDGE FINANCIAL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 DECEMBER 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
24,751
30,337
Other debtors
11,267
11,021
36,018
41,358
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
854
543
Other creditors
87,496
59,463
88,350
60,006
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
63,600
63,600
63,600
63,600
7
Profit and loss reserves
2023
2022
as restated
£
£
At the beginning of the year
2,689,650
2,598,701
Prior year adjustment
(19,874)
-
0
As restated
2,669,776
2,598,701
Profit for the year
70,020
136,581
Dividends declared and paid in the year
(65,506)
(65,506)
At the end of the year
2,674,290
2,669,776

Under FRS 102 changes in the Market Value of properties are required to pass through the profit and loss account. At the reporting date £1,557,679 (2022: £1,557,679) represents the amount included in the profit and loss reserves that is not distributable.

RALEBRIDGE FINANCIAL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 DECEMBER 2023
- 5 -
8
Prior period adjustment
Reconciliation of changes in equity
31 December
30 December
2021
2022
£
£
Adjustments to prior year
Impact on retained earnings brought forward
-
(19,874)
Equity as previously reported
2,662,301
2,753,250
Equity as adjusted
2,662,301
2,733,376
Analysis of the effect upon equity
Profit and loss reserves
-
(19,874)
Reconciliation of changes in profit for the previous financial period
2022
£
Adjustments to prior year
Deposit amounts included in rental income
(22,905)
Deposit returned included in legal & professional
3,031
Total adjustments
(19,874)
Profit as previously reported
156,455
Profit as adjusted
136,581
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