Company Registration No. 03631094 (England and Wales)
Rutland Estates Limited
Unaudited accounts
for the year ended 31 December 2023
Rutland Estates Limited
Unaudited accounts
Contents
Rutland Estates Limited
Statement of financial position
as at 31 December 2023
Tangible assets
10,719
11,974
Investment property
8,895,001
8,895,001
Cash at bank and in hand
302,890
139,264
Creditors: amounts falling due within one year
(322,321)
(553,652)
Net current assets/(liabilities)
43,106
(357,340)
Total assets less current liabilities
8,948,826
8,549,635
Provisions for liabilities
Deferred tax
(608,818)
(606,138)
Net assets
8,340,008
7,943,497
Called up share capital
1,228
1,228
Share premium
564,606
564,606
Revaluation reserve
227,356
227,356
Profit and loss account
7,546,818
7,150,307
Shareholders' funds
8,340,008
7,943,497
For the year ending 31 December 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by
Malcolm D Wells
Director
Company Registration No. 03631094
Rutland Estates Limited
Notes to the Accounts
for the year ended 31 December 2023
Rutland Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 03631094. The registered office is Spring House, Bath Row, Stamford, Lincolnshire, PE9 2QX.
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:
Motor vehicles
20% reducing balance
Fixtures & fittings
10% straight line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rutland Estates Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2023
19,112
81,816
100,928
At 31 December 2023
19,112
82,699
101,811
At 1 January 2023
9,328
79,626
88,954
Charge for the year
1,957
181
2,138
At 31 December 2023
11,285
79,807
91,092
At 31 December 2023
7,827
2,892
10,719
At 31 December 2022
9,784
2,190
11,974
Fair value at 1 January 2023
8,895,001
At 31 December 2023
8,895,001
As at the 31st December 2021, the investment properties were valued at market value. These were done by Mr M. D. Wells & Mr H. M. Wells, both of which are members of the Royal Institute of Chartered Surveyors.
Amounts falling due within one year
Trade debtors
18,562
12,254
Accrued income and prepayments
6,471
7,166
Other debtors
37,504
37,628
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
112,508
100,852
Amounts owed to group undertakings and other participating interests
-
280,000
Taxes and social security
172,114
134,599
Other creditors
37,699
37,823
8
Transactions with related parties
As at the 31st December 2023 within creditors, £nil (2022 - £280,000) was owed to related parties, for which the majority of directors have participating interests in. These loans are interest free and are repayable on demand.
Rutland Estates Limited
Notes to the Accounts
for the year ended 31 December 2023
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).