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REGISTERED NUMBER: 00096813 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

G W RUDD LIMITED

G W RUDD LIMITED (REGISTERED NUMBER: 00096813)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G W RUDD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M G P C Williams
R K Dore
A P Moore
J P Rudd



SECRETARY: R K Dore



REGISTERED OFFICE: Rudland House
Railway Street
Bishop Auckland
Co. Durham
DL14 7LR



REGISTERED NUMBER: 00096813 (England and Wales)



SOLICITORS: Hewitts
207 Newgate Street
Bishop Auckland
Co. Durham
DL14 7EL

G W RUDD LIMITED (REGISTERED NUMBER: 00096813)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 10,903 7,320
Investments 5 15,497 15,497
Investment property 6 487,481 470,000
513,881 492,817

CURRENT ASSETS
Debtors 7 45,046 47,312
Cash at bank 7,217 8,175
52,263 55,487
CREDITORS
Amounts falling due within one year 8 57,149 13,859
NET CURRENT (LIABILITIES)/ASSETS (4,886 ) 41,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

508,995

534,445

CREDITORS
Amounts falling due after more than one
year

9

(1,967

)

(1,967

)

PROVISIONS FOR LIABILITIES (21,466 ) (21,466 )
NET ASSETS 485,562 511,012

CAPITAL AND RESERVES
Called up share capital 20,230 20,230
Capital redemption reserve 770 770
Fair value reserve 236,750 236,750
Retained earnings 227,812 253,262
SHAREHOLDERS' FUNDS 485,562 511,012

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

G W RUDD LIMITED (REGISTERED NUMBER: 00096813)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2024 and were signed on its behalf by:





M G P C Williams - Director


G W RUDD LIMITED (REGISTERED NUMBER: 00096813)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

G W Rudd Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about G W Rudd Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents rental income from the letting of freehold investment property along with recharges of insurance and other items to tenants.

Rental income is recognised in the period to which it relates. Debtors or creditors are provided at the year end to account for the relevant proportion of rent received in arrears or in advance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% on cost

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss for the year and included in the fair value reserve on the balance sheet. Investment properties are not depreciated.

Deferred tax is provided on revaluation gains at the rate expected to apply when the property is sold.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

G W RUDD LIMITED (REGISTERED NUMBER: 00096813)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£ £ £
COST
At 1 April 2023 7,320 - 7,320
Additions 5,280 585 5,865
Disposals (240 ) - (240 )
At 31 March 2024 12,360 585 12,945
DEPRECIATION
Charge for year 1,944 98 2,042
At 31 March 2024 1,944 98 2,042
NET BOOK VALUE
At 31 March 2024 10,416 487 10,903
At 31 March 2023 7,320 - 7,320

5. FIXED ASSET INVESTMENTS
Interest in
Shares in associated
group underta
undertakings kings Totals
£ £ £
COST
At 1 April 2023
and 31 March 2024 14,446 1,051 15,497
NET BOOK VALUE
At 31 March 2024 14,446 1,051 15,497
At 31 March 2023 14,446 1,051 15,497

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2023 470,000
Additions 17,481
At 31 March 2024 487,481
NET BOOK VALUE
At 31 March 2024 487,481
At 31 March 2023 470,000

G W RUDD LIMITED (REGISTERED NUMBER: 00096813)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£
Valuation in 2024 487,481

If freehold investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£ £
Cost 229,265 211,784

Freehold investment property was valued on an open market value basis on 3 February 2023 by Carver Commercial Chartered Surveyors .

Additional capital investment has been made on one of the properties during the year. Those costs have been added to the valuation obtained last year. The directors consider that for the other properties the valuations obtained last year are still realistic.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 6,775 1,692
Amounts owed by group undertakings 37,337 45,575
Other debtors - 45
Prepayments and accrued income 934 -
45,046 47,312

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 2,333 360
Amounts owed to group undertakings 33,951 -
Social security and other taxes 17 17
Other creditors 6,020 6,020
Accruals and deferred income 14,828 7,462
57,149 13,859

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Preference shares classed as a liability 1,967 1,967

G W RUDD LIMITED (REGISTERED NUMBER: 00096813)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. RELATED PARTY DISCLOSURES

A number of the shareholders of the company, including the directors, have interests in the companies referred to below.

Amounts due from related parties:

London Lending Library (Durham) Limited - £37,337 (2023- £44,700)

Spoors Limited - £NIL (2023 - £875)

Amounts due to related parties:

Spoors Limited - £33,951 (2023 - £NIL)

No interest is payable on the above balances and there are no set repayment terms.