REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 February 2024 |
for |
Rybarn Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 February 2024 |
for |
Rybarn Limited |
Rybarn Limited (Registered number: 06851360) |
Contents of the Financial Statements |
for the Year Ended 29 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Rybarn Limited |
Company Information |
for the Year Ended 29 February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
9 St George's Yard |
Farnham |
Surrey |
GU9 7LW |
Rybarn Limited (Registered number: 06851360) |
Balance Sheet |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non distributable reserves |
Retained earnings |
The director acknowledges her 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Rybarn Limited (Registered number: 06851360) |
Notes to the Financial Statements |
for the Year Ended 29 February 2024 |
1. | STATUTORY INFORMATION |
Rybarn Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable of the company property |
letting activities and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. |
The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity. |
Tangible fixed assets |
Computer equipment | - |
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses. |
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss. |
Investment property |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Rybarn Limited (Registered number: 06851360) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2023 |
and 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
and 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2023 |
Disposals | ( |
) |
Revaluations | 90,000 |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
Fair value at 29 February 2024 is represented by: |
£ |
Valuation in 2015 | 436,590 |
Valuation in 2016 | 125,000 |
Valuation in 2017 | 19,012 |
Valuation in 2018 | 115,000 |
Valuation in 2019 | 40,000 |
Valuation in 2020 | 55,000 |
Valuation in 2021 | 85,000 |
Valuation in 2022 | 120,000 |
Valuation in 2023 | (110,000 | ) |
Valuation in 2024 | (74,133 | ) |
Cost | 1,273,531 |
2,085,000 |
The investment properties were last valued by the director on an open market basis at 29 February 2024. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Rybarn Limited (Registered number: 06851360) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
9. | SECURED DEBTS |
The two Landbay Partners Limited loans are secured against 5 Stoke Mill Close, Guildford, Surrey, GU1 1QZ and 43 Henderson Avenue, Guildford, Surrey, GU2 9LP. |
The West One Secured Loans Limited loan is secured against 48 Falcon Road, Guildford, Surrey, GU1 4JD. |
10. | RELATED PARTY DISCLOSURES |
At the year end, the company owed its director Ms A Samuels £152,308 (2023 - £175,978) . |