Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01falseBuying and selling of own real estate22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11269268 2023-04-01 2024-03-31 11269268 2022-04-01 2023-03-31 11269268 2024-03-31 11269268 2023-03-31 11269268 c:Director2 2023-04-01 2024-03-31 11269268 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 11269268 d:FreeholdInvestmentProperty 2024-03-31 11269268 d:FreeholdInvestmentProperty 2023-03-31 11269268 d:CurrentFinancialInstruments 2024-03-31 11269268 d:CurrentFinancialInstruments 2023-03-31 11269268 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11269268 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11269268 d:ShareCapital 2024-03-31 11269268 d:ShareCapital 2023-03-31 11269268 d:RetainedEarningsAccumulatedLosses 2024-03-31 11269268 d:RetainedEarningsAccumulatedLosses 2023-03-31 11269268 c:FRS102 2023-04-01 2024-03-31 11269268 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11269268 c:FullAccounts 2023-04-01 2024-03-31 11269268 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11269268 2 2023-04-01 2024-03-31 11269268 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 11269268










Ruffels UK Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2024

 
Ruffels UK Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Ruffels UK Limited for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ruffels UK Limited for the year ended 31 March 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Ruffels UK Limited, as a body, in accordance with the terms of our engagement letter dated 6 June 2022Our work has been undertaken solely to prepare for your approval the financial statements of Ruffels UK Limited and state those matters that we have agreed to state to the Board of directors of Ruffels UK Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ruffels UK Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Ruffels UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ruffels UK Limited. You consider that Ruffels UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Ruffels UK Limited. 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 statutory financial statements.

  



Kreston Reeves LLP
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
7 October 2024
Page 1

 
Ruffels UK Limited
Registered number: 11269268

Balance sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
2,570,946
1,367,844

  
2,570,946
1,367,844

Current assets
  

Debtors: amounts falling due within one year
 5 
51,375
13,751

Bank and cash balances
  
311,855
1,384,088

  
363,230
1,397,839

Creditors: amounts falling due within one year
 6 
(2,645,233)
(2,592,268)

Net current liabilities
  
 
 
(2,282,003)
 
 
(1,194,429)

Total assets less current liabilities
  
288,943
173,415

  

Net assets
  
288,943
173,415


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
288,942
173,414

  
288,943
173,415


Page 2

 
Ruffels UK Limited
Registered number: 11269268

Balance sheet (continued)
As at 31 March 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R Hayler
Director

Date: 1 September 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
Ruffels UK Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales.
The registered office address is:
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
The principal place of business is: 
Suite G 
Pavilion House 
King Business Centre
Sayers Common  
BN6 9LS

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents the value of rental income and all other associated income receivable by the Company.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
Ruffels UK Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Investment property

Investment property is carried at fair value determined annually by internal valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
Ruffels UK Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.9

Financial instruments

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

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 6

 
Ruffels UK Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,367,844


Additions at cost
1,203,102



At 31 March 2024
2,570,946

The 2024 valuations were made by the director, R Hayler, on an open market value for existing use basis.

The historic cost of the investment properties is £2,570,946 (2023 - £1,367,844).





5.


Debtors

2024
2023
£
£


Trade debtors
12,635
9,083

Prepayments and accrued income
38,740
4,668

51,375
13,751



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
977
4,432

Corporation tax
40,840
3,036

Other taxation and social security
5,950
1,716

Other creditors
2,587,740
2,575,530

Accruals and deferred income
9,726
7,554

2,645,233
2,592,268


Page 7

 
Ruffels UK Limited
 

 
Notes to the financial statements
For the year ended 31 March 2024

7.


Controlling party

The parent company of Ruffels UK Limited is Ruffels Property Holdings Limited.
The registered office address of the parent company is:
3 Elgin Road
Ballsbridge
Dublin
D04 C3W9


Page 8