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REGISTERED NUMBER: 00124707 (England and Wales)















Financial Statements

for the Year Ended 31 March 2024

for

ABOYNE-CLYDE RUBBER ESTATES OF
CEYLON LIMITED

ABOYNE-CLYDE RUBBER ESTATES OF
CEYLON LIMITED (REGISTERED NUMBER: 00124707)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABOYNE-CLYDE RUBBER ESTATES OF
CEYLON LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N B Fitzpatrick, MBE
P S Allen
J M Allen





SECRETARY: N B Fitzpatrick, MBE





REGISTERED OFFICE: Lloyds Bank Chambers
Hustlergate
Bradford
West Yorkshire
BD1 1UQ





REGISTERED NUMBER: 00124707 (England and Wales)





ACCOUNTANTS: Rawse, Varley & Co
Chartered Accountants
Lloyds Bank Chambers
Hustlergate
Bradford
BD1 1UQ

ABOYNE-CLYDE RUBBER ESTATES OF
CEYLON LIMITED (REGISTERED NUMBER: 00124707)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,583,490 2,117,051

CURRENT ASSETS
Debtors 5 830,324 14,851
Cash at bank 36,952 9,940
867,276 24,791
CREDITORS
Amounts falling due within one year 6 247,248 166,478
NET CURRENT ASSETS/(LIABILITIES) 620,028 (141,687 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,203,518

1,975,364

PROVISIONS FOR LIABILITIES 7 82,594 81,728
NET ASSETS 2,120,924 1,893,636

CAPITAL AND RESERVES
Called up share capital 8 225,000 225,000
Retained earnings 9 1,895,924 1,668,636
SHAREHOLDERS' FUNDS 2,120,924 1,893,636

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

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

ABOYNE-CLYDE RUBBER ESTATES OF
CEYLON LIMITED (REGISTERED NUMBER: 00124707)

Balance Sheet - continued
31 March 2024


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 8 November 2024 and were signed on its behalf by:





N B Fitzpatrick, MBE - Director


ABOYNE-CLYDE RUBBER ESTATES OF
CEYLON LIMITED (REGISTERED NUMBER: 00124707)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Aboyne-Clyde Rubber Estates of Ceylon Limited 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 income
Investment income comprises interest, dividends and other distributions on investments, together with profits less losses on disposal of investments. Dividends are recognised as income when the right to receipt has been established. Interest is accounted for on the accruals basis.

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 and 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 and include unrealised gains and losses on the revaluation of investments in equity and preference shares. 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.

Investments
Investments are stated at fair value. In the case of investments traded on a recognised stock exchange fair value is determined by reference to quoted bid prices. Unquoted investments are valued by the directors by reference to all available evidence including recent transactions, events and company statements relating to the investments concerned.

Changes in the valuation of investments are taken to profit and loss in the income statement.

ABOYNE-CLYDE RUBBER ESTATES OF
CEYLON LIMITED (REGISTERED NUMBER: 00124707)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Cumulative preference dividends
It is the company's policy not to accrue for unpaid cumulative preference dividends, because it is considered that there is no enforceable contractual right for such dividends to be paid.

No dividends have been paid on the preference shares since 31 December 1923 and the directors have no present intention to resume dividend payments. On a winding up there is no explicit right by shareholders to payment of undeclared dividends. Arrears of outstanding preference dividends are estimated by the directors to be in the region of £1.5m and any future dividend payments would be first applied to the payments of these arrears.

In the circumstances the directors consider the above policy to be the most appropriate basis on which to prepare the financial statements.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 2,117,051
Additions 242,094
Disposals (953,072 )
Revaluations 177,417
At 31 March 2024 1,583,490
NET BOOK VALUE
At 31 March 2024 1,583,490
At 31 March 2023 2,117,051

All investments are listed investments.

If fixed asset investments had not been revalued they would have been included at historical cost of £1,227,780 (2023 - £1,730,924).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Investment debtors 830,324 5,911
Accrued income - 8,940
830,324 14,851

ABOYNE-CLYDE RUBBER ESTATES OF
CEYLON LIMITED (REGISTERED NUMBER: 00124707)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 54,111 -
Other creditors 160,756 160,344
Accruals 32,381 6,134
247,248 166,478

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Realised capital losses - (4,458 )
Excess management expenses - (6,825 )
Unrealised investment revaluation gains 82,594 93,011
82,594 81,728

Deferred
tax
£   
Balance at 1 April 2023 81,728
Charge to Income Statement during year 866
Balance at 31 March 2024 82,594

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
250,000 Ordinary 0.10 25,000 25,000
200,000 7.5% preference 1 200,000 200,000
225,000 225,000

Class rights of shares:

1. Preference shares are participating cumulative preference shares with the right to a further dividend at the rate of 1/4% for every 5% dividend in excess of 25% on ordinary shares.

2. Preference shares rank in priority to ordinary shares as regards a return of capital.

Upon a poll the voting rights of members are:

1 vote for each preference share
1 vote for each two ordinary shares

The preference shares are regarded as equity because under the company's articles of association the payment of preference dividends is at the discretion of the directors.

ABOYNE-CLYDE RUBBER ESTATES OF
CEYLON LIMITED (REGISTERED NUMBER: 00124707)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. RESERVES
Retained
earnings
£   

At 1 April 2023 1,668,636
Profit for the year 227,288
At 31 March 2024 1,895,924

Accumulated reserves of £1,500,000 accrue to preference shareholders in the event that unpaid cumulative dividends were to be paid.