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REGISTERED NUMBER: 12415064 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

RYFIELD LTD

RYFIELD LTD (REGISTERED NUMBER: 12415064)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RYFIELD LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: L J Ryan
A C Fielding





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 12415064 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

RYFIELD LTD (REGISTERED NUMBER: 12415064)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,190,000 945,000

CURRENT ASSETS
Debtors 5 183 170
Cash at bank 36,382 51,546
36,565 51,716
CREDITORS
Amounts falling due within one year 6 510,453 533,610
NET CURRENT LIABILITIES (473,888 ) (481,894 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

716,112

463,106

CREDITORS
Amounts falling due after more than one
year

7

(483,003

)

(459,018

)

PROVISIONS FOR LIABILITIES (204,638 ) -
NET ASSETS 28,471 4,088

CAPITAL AND RESERVES
Called up share capital 2 2
Non distribution reserve 8 166,813 126,451
Retained earnings (138,344 ) (122,365 )
28,471 4,088

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 24 October 2024 and were signed on its behalf by:





L J Ryan - Director


RYFIELD LTD (REGISTERED NUMBER: 12415064)

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

1. STATUTORY INFORMATION

Ryfield Ltd 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Turnover
Turnover represents the following types of income

- Rental income
- Income from the sale of properties

All income is recognised on a receivable basis.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 945,000
Revaluations 245,000
At 31 January 2024 1,190,000
NET BOOK VALUE
At 31 January 2024 1,190,000
At 31 January 2023 945,000

RYFIELD LTD (REGISTERED NUMBER: 12415064)

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

4. INVESTMENT PROPERTY - continued

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 245,000
Valuation in 2023 126,451
Cost 818,549
1,190,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 183 170

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 240
Directors' loan accounts 508,591 531,599
Accrued expenses 1,862 1,771
510,453 533,610

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans more 5 yr by instal 483,003 459,018

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 483,003 459,018

8. RESERVES
Non
distribution
reserve
£   
At 1 February 2023 126,451
Movement in revaluation 40,362

At 31 January 2024 166,813

As at the balance sheet date, the revaluation reserve relating to investment properties stands at £166,813. This is included within profit and loss reserves but is not distributable as it is unrealised.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, L J Ryan decreased his loan to the company. As at 31 January 2024, the company owed him £322,835 (2023: £333,313). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

During the year, A C Fielding decreased his loan to the company. As at 31 January 2024, the company owed him £185,756 (2023: £198,285). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

RYFIELD LTD (REGISTERED NUMBER: 12415064)

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

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is L J Ryan & A C Fielding.

This was by virtue of their 100% holding of the issued share capital.