Company registration number 7978385 (England and Wales)
READY STEADY FINANCES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
READY STEADY FINANCES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
READY STEADY FINANCES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
3,253,600
1,360,900
Current assets
Debtors
5
47,096
52,252
Cash at bank and in hand
179,977
166,696
227,073
218,948
Creditors: amounts falling due within one year
6
(11,338)
(12,591)
Net current assets
215,735
206,357
Total assets less current liabilities
3,469,335
1,567,257
Creditors: amounts falling due after more than one year
7
(1,358,294)
(1,370,051)
Provisions for liabilities
(473,175)
-
0
Net assets
1,637,866
197,206
Capital and reserves
Called up share capital
100
100
Fair value reserves
9
1,419,525
-
0
Profit and loss reserves
218,241
197,106
Total equity
1,637,866
197,206

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

READY STEADY FINANCES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 21 November 2024
Ms D Reynolds
Director
Company Registration No. 7978385
READY STEADY FINANCES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Fair Value Reserves
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2022
100
-
0
169,986
170,086
Year ended 31 March 2023:
Profit and total comprehensive income for the year
-
-
30,380
30,380
Dividends
-
-
(3,260)
(3,260)
Balance at 31 March 2023
100
-
0
197,106
197,206
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
1,419,525
23,564
1,443,089
Dividends
-
-
(2,429)
(2,429)
Balance at 31 March 2024
100
1,419,525
218,241
1,637,866
READY STEADY FINANCES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Ready Steady Finances Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, Regis House, 45 King William Street, London, United Kingdom, EC4R 9AN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

The parent, and group headed by it, qualify as small as set out in section 383 of the Act and the group is not ineligible as set out in section 384 of the Act. (And therefore it is exempted by Section 399 which specifies that small groups are not included in the requirement).

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
Investment properties

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

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

READY STEADY FINANCES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Investment property
2024
£
Fair value
At 1 April 2023
1,360,900
Revaluations
1,892,700
At 31 March 2024
3,253,600

The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

READY STEADY FINANCES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
17,056
22,152
Amounts owed by group undertakings
30,040
30,100
47,096
52,252
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
5,514
6,882
Other creditors
5,824
5,709
11,338
12,591
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,358,294
1,370,051
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Investment property
473,175
-
2024
Movements in the year:
£
Liability at 1 April 2023
-
Charge to profit or loss
473,175
Liability at 31 March 2024
473,175
READY STEADY FINANCES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
9
Fair value reserves
2024
2023
£
£
At the beginning of the year
-
-
Non distributable profits in the year
1,419,525
-
At the end of the year
1,419,525
-
10
Parent company

The immediate Parent Company is DER Holdings Limited a company incorporated in England and Wales. The registered office is 2nd Floor, Regis House, 45 King William Street, London EC4R 9AN.

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