Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01falseActivities of other holding companies22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14155358 2023-07-01 2024-06-30 14155358 2022-06-07 2023-06-30 14155358 2024-06-30 14155358 2023-06-30 14155358 c:Director1 2023-07-01 2024-06-30 14155358 c:Director2 2023-07-01 2024-06-30 14155358 d:FreeholdInvestmentProperty 2024-06-30 14155358 d:FreeholdInvestmentProperty 2023-06-30 14155358 d:CurrentFinancialInstruments 2024-06-30 14155358 d:CurrentFinancialInstruments 2023-06-30 14155358 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 14155358 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 14155358 d:ShareCapital 2023-07-01 2024-06-30 14155358 d:ShareCapital 2024-06-30 14155358 d:ShareCapital 2022-06-07 2023-06-30 14155358 d:ShareCapital 2023-06-30 14155358 d:InvestmentPropertiesRevaluationReserve 2023-07-01 2024-06-30 14155358 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 14155358 d:RetainedEarningsAccumulatedLosses 2024-06-30 14155358 d:RetainedEarningsAccumulatedLosses 2022-06-07 2023-06-30 14155358 d:RetainedEarningsAccumulatedLosses 2023-06-30 14155358 c:FRS102 2023-07-01 2024-06-30 14155358 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 14155358 c:FullAccounts 2023-07-01 2024-06-30 14155358 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14155358 2 2023-07-01 2024-06-30 14155358 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 14155358










RISINGS PROPERTY LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
RISINGS PROPERTY LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RISINGS PROPERTY LTD
FOR THE YEAR ENDED 30 JUNE 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 Risings Property Ltd for the year ended 30 June 2024 which comprise the Balance sheet, the Statement of changes in equity 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 Risings Property Ltd, as a body, in accordance with the terms of our engagement letter dated 14 June 2022Our work has been undertaken solely to prepare for your approval the financial statements of Risings Property Ltd and state those matters that we have agreed to state to the Board of directors of Risings Property Ltd, 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 Risings Property Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Risings Property Ltd 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 Risings Property Ltd. You consider that Risings Property Ltd 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 Risings Property Ltd. 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.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
5 November 2024
Page 1

 
RISINGS PROPERTY LTD
REGISTERED NUMBER: 14155358

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
  
114,887
114,887

  
114,887
114,887

Current assets
  

Cash at bank and in hand
  
211,278
86,480

  
211,278
86,480

Creditors: amounts falling due within one year
  
(3,224)
(8,131)

Net current assets
  
 
 
208,054
 
 
78,349

Total assets less current liabilities
  
322,941
193,236

  

Net assets
  
322,941
193,236


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
322,841
193,136

  
322,941
193,236

Page 2

 
RISINGS PROPERTY LTD
REGISTERED NUMBER: 14155358
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 profit and loss account 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 on 5 November 2024.




................................................
Mrs H Heald
................................................
Mr P Heald
Director
Director

The notes on pages 6 to 9 form part of these financial statements.
Page 3

 
RISINGS PROPERTY LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2023
100
193,136
193,236


Comprehensive income for the year

Profit for the year
-
129,705
129,705
Total comprehensive income for the year
-
129,705
129,705


Total transactions with owners
-
-
-


At 30 June 2024
100
322,841
322,941


The notes on pages 6 to 9 form part of these financial statements.

Page 4

 
RISINGS PROPERTY LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Profit for the period

-
193,136
193,136


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
193,136
193,136


Contributions by and distributions to owners

Shares issued during the period
100
-
100


Total transactions with owners
100
-
100


At 30 June 2023
100
193,136
193,236


The notes on pages 6 to 9 form part of these financial statements.

Page 5

 
RISINGS PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The Company is a private Company limited by shares. It is incorporated and domiciled in England and Wales. The address of the registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ.                              The Company's principal activity is that of investment property.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered a period of twelve months from the date of approval of financial statements. The directors consider that projected income together with current cash reserves will be more than adequate for the company's needs. As such the directors believe that the accounts should be prepared on a going concern basis.

 
2.3

Revenue

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.

 
2.4

Interest income

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

Page 6

 
RISINGS PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external 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.

 
2.7

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.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors and creditors.

Debt instruments that are payable or receivable within one year, typically other debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. 


3.


Employees




The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
2

Page 7

 
RISINGS PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
114,887



At 30 June 2024
114,887

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





5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
211,278
86,480

211,278
86,480



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
1,074

Other creditors
1,964
5,857

Accruals and deferred income
1,260
1,200

3,224
8,131


Page 8

 
RISINGS PROPERTY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Reserves

Fair Value reserve

The fair value reserve represents the cumulative value of revaluations of the Company's investment property to fair value, net of deferred tax. The amounts debited or credited to this reserve are transfers from the profit and loss account. Deferred tax is provided for on these fair value adjustments at the standard rate of corporation tax applicable in the UK.

Profit and loss account

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8.


Related party transactions

As at 30 June 2024 the directors were owed £1,964.20 (2023: £5,857.00) by the Company, and this is shown within other creditors in note 6 of the accounts.

 
Page 9