Company Registration No. 09050712 (England and Wales)
W B Rankin Limited
Unaudited accounts
for the year ended 31 May 2024
W B Rankin Limited
Unaudited accounts
Contents
W B Rankin Limited
Company Information
for the year ended 31 May 2024
Company Number
09050712 (England and Wales)
Registered Office
124 City Road
London
EC1V 2NX
Accountants
SJK
8 Bridge Road
Moira
Co Armagh
BT67 0PF
Accountants' report to the Board of Directors on the unaudited financial statements of W B Rankin Limited for the year ended 31 May 2024
In accordance with our engagement letter dated 18 February 2024, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.
This report is made solely to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors as a body, for our work or for this report.
We have carried out this engagement in accordance with guidance issued by the Chartered Accountants Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.
You have acknowledged on the balance sheet for the year ended 31 May 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
SJK
Chartered Accountants
8 Bridge Road
Moira
Co Armagh
BT67 0PF
9 September 2024
W B Rankin Limited
Statement of financial position
as at 31 May 2024
Tangible assets
3,603
1,826
Investment property
612,310
612,310
Cash at bank and in hand
5,210
32,269
Creditors: amounts falling due within one year
(27,359)
(26,479)
Net current (liabilities)/assets
(22,149)
8,033
Total assets less current liabilities
593,764
622,169
Creditors: amounts falling due after more than one year
(485,119)
(531,788)
Called up share capital
100
100
Profit and loss account
108,545
90,281
Shareholders' funds
108,645
90,381
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 September 2024 and were signed on its behalf by
W B Rankin
Director
Company Registration No. 09050712
W B Rankin Limited
Notes to the Accounts
for the year ended 31 May 2024
W B Rankin Limited is a private company, limited by shares, registered in England and Wales, registration number 09050712. The registered office is 124 City Road, London, EC1V 2NX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2023
480
3,567
4,047
Additions
1,327
2,076
3,403
At 31 May 2024
1,807
4,954
6,761
At 1 June 2023
320
1,901
2,221
Charge for the year
229
1,155
1,384
At 31 May 2024
549
2,609
3,158
At 31 May 2024
1,258
2,345
3,603
At 31 May 2023
160
1,666
1,826
Fair value at 1 June 2023
612,310
W B Rankin Limited
Notes to the Accounts
for the year ended 31 May 2024
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
19,354
15,886
Taxes and social security
4,039
6,606
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
169,790
191,595
Loans from directors
315,329
340,193
Securities for the bank facilities are as follows:
- First legal mortgage over the properties at 163 Broadway, 107 Donegal Road, 67 Alexandra Park, 141 Alexandra Park & 17 Simpsons Brae.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
(340,193)
26,216
1,312
(315,289)
(340,193)
26,216
1,312
(315,289)
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).